The post Trump Reduces Tariff on Indian Imports by 18 Percent After Talks with Prime Minister Modi appeared first on The Edge Media.
]]>Earlier, Indian exports to the US were facing tariffs of up to 25 percent. With the new decision, these duties have now been lowered, bringing relief to Indian exporters and improving access to the American market. President Trump stated that his conversation with Prime Minister Modi was centered on respect, friendship, and strengthening economic ties between the two countries.
Sharing a photograph with Prime Minister Modi on social media, President Trump wrote that India is a great nation and a trusted partner. He said the relationship between the two democracies holds great importance for global stability and economic growth. Trump also praised Modi’s leadership and expressed confidence that cooperation between India and the United States would continue to expand.
Prime Minister Narendra Modi welcomed the move and thanked President Trump for the decision. He said the reduction in tariffs would benefit millions of Indians and help Indian products become more competitive in global markets. Modi added that both leaders are working together to ensure fair trade, economic growth, and opportunities for businesses and workers in both countries.
Following the announcement, positive reactions were seen in American stock markets. Experts believe the tariff reduction will especially benefit sectors such as agriculture, textiles, pharmaceuticals, and engineering goods. Indian exporters are expected to gain improved access to one of the world’s largest consumer markets.
Analysts also see this step as a signal of improving India US relations. The decision comes at a time when global trade faces uncertainty, and cooperation between major economies is considered crucial for global peace, stability, and prosperity.
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This move marks a significant cooling of relations between the long-standing allies, as European leaders push back against what they perceive as aggressive American posturing regarding Brexit and transatlantic commerce.
In a separate development highlighted in the report, Indian Union Minister Ashwini Vaishnaw asserted that India is currently leading the global stage in the field of Artificial Intelligence (AI).
Speaking on India’s technological trajectory, Vaishnaw emphasized that the nation is no longer just a participant but a frontrunner in shaping the future of AI and digital infrastructure.
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]]>Domestic Economic Indicators
This week is crucial for the Indian market as several key macroeconomic data points are due for release. Attention will be centered on India’s Consumer Price Index (CPI) and Wholesale Price Index (WPI) figures, which will help assess the inflation pattern and potential policy directions.
Corporate Earnings to Watch
Quarterly results from major companies such as ONGC, Bajaj Finserv, Asian Paints, Tata Steel, and Oil India will provide important signals for various sectors. Market participants will be closely monitoring these earnings to gauge the overall corporate performance and industry outlook.
Global and Currency Influences
Movements in the rupee against the US dollar and fluctuations in Brent crude prices will be significant in determining investor confidence. These global factors often influence domestic market sentiment and portfolio decisions.
Expert Insights
According to Ponmudi R, CEO of Enrich Money, both domestic and international economic conditions will shape investor mood this week. The release of October’s CPI inflation data is expected to offer more clarity on the future course of interest rates.
Globally, the ongoing US government shutdown has paused the release of critical economic reports, creating uncertainty among investors and policymakers trying to evaluate the actual condition of the US economy.
Recent Market Performance
In the previous, holiday-shortened week, the BSE Sensex declined by 722.43 points, while the NSE Nifty dropped by 229.8 points, reflecting a weak market sentiment.
Outlook Ahead
Vinod Nair, Head of Research at Geojit Investments, noted that the market’s next direction will depend on upcoming inflation figures, foreign institutional investor (FII) flows, developments in the US government situation, and the progress of trade negotiations among the US, India, and China.
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Factors Behind the Price Drop
The fall in gold prices has been linked to easing geopolitical concerns between the United States and China, which weakened the metal’s safe-haven appeal. Analysts noted that gold faced continued selling pressure as investors moved away from safe assets. Saumil Gandhi, Senior Analyst at HDFC Securities, explained that the decline was driven by technical selling after gold failed to stay above the $4,000 level, marking a three-week low.
Silver Prices Also Fall Sharply
Silver followed a similar trend, recording a steep drop of Rs 6,250 to Rs 1,45,000 per kilogram, compared to the previous close of Rs 1,51,250 per kilogram.
Global Market Overview
In international markets, spot gold continued to trade lower, slipping by $94.36 or 2.37 percent to $3,887.03 per ounce. In the prior session, it had already dropped below the key $4,000 mark, declining by $132.02 or 3.21 percent.
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]]>“We are now in recession, it is worse than the global financial crisis,” news agency Xinhua quoted Georgiwa’s statement at a joint press conference with the World Health Organization (WHO) on Friday.
The Managing Director of the IMF while talking about the ‘double crisis’ like health and economic said that this is unprecedented in the history of IMF due to the increasing outbreak of covid-19.
Georgieva stressed that there is a need to work together to save lives and livelihoods in the midst of fighting the covid-19 around the world. According to data from the World Health Organization, currently more than 1 million people worldwide have been infected with covid-19 infection, of which more than 50,000 people have lost their lives.
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]]>The post PM Modi: Aatmanirbhar Bharat Has Become A “Mantra” appeared first on The Edge Media.
]]>Delivering his seventh straight Independence Day speech, Modi said the call for ‘Aatmanirbhar Bharat’ (self-reliant India) has captured people’s imagination and become a “mantra” for everyone, as he pushed for raising the country’s share in the global economy.
Modi addressed the nation on the occasion of India’s 74th Independence Day from the ramparts of the Red Fort, and asked the citizens to prepare themselves for a self-reliant India.
Lauding the Prime Minister’s call, Singh said there may be challenges but there is also the ability to solve all the problems. “Today, on the occasion of Independence Day, Prime Minister Narendra Modi’s address reinforces the resolve of self-reliant India. There may be challenges in this resolution, but there is the ability to solve all the problems within this country,” the defence minister said in a tweet in Hindi.
Noting that a self-reliant India is necessary for the welfare of the world, Singh said all Indians should have the determination to make the country’s role and contribution in the world impactful.
“Self-reliant India is necessary for the welfare of the world. All Indians should have the determination to make India’s role and contribution in the world impactful. Today, the prime minister has made it clear that the country has the skills and capability on which India can give new direction and momentum to the global economy,” he said in another tweet. Singh said he welcomes the roadmap set by the prime minister for a self-reliant India.
– PTI
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