&w=3840&q=100)
Defence, trade, tech discussed during foreign secy Misri's visit to US
Foreign Secretary Misri held wide-ranging discussions with counterparts across the Department of State, National Security Council, Department of Defence, Department of the Treasury, and the Department of Commerce, the Ministry of External Affairs said in a statement.
The visit was a follow-up to the Prime Minister's visit to the United States on February 13, during which both sides launched the India-US COMPACT (Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology) for the 21st Century.
Deputy National Security Advisor Pavan Kapoor was also part of the Indian delegation.
According to MEA, at a luncheon meeting with Deputy Secretary of State Christopher Landau, both sides reviewed the full spectrum of the bilateral agenda. They underscored that Technology, Trade, and Talent would be the key pillars shaping the India-US partnership in the 21st century.
In meetings with Deputy Secretary of Defence Steve Feinberg and Under Secretary for Policy Elbridge Colby, both sides reaffirmed their commitment to a robust and forward-looking defence partnership. Discussions focused on co-production and co-development initiatives, sustained joint military exercises, logistics and information-sharing frameworks, and enhancing interoperability between the armed forces, MEA said.
Vikram Misri met with Deputy Secretary of the Treasury Michael Faulkender, the Foreign Secretary and discussed ways to deepen economic and financial ties, including collaboration in international financial institutions and coordination in the upcoming Financial Action Task Force (FATF) processes.
In his meeting with Under Secretary of Commerce Jeffrey Kessler, both sides reviewed progress on the India-US Bilateral Trade Agreement, cooperation in critical and emerging technologies, and the need to streamline ITAR and export control regulations. They agreed to convene the next meeting of the India-US Strategic Trade Dialogue at the earliest opportunity, according to MEA.
Consistent with the vision outlined in the COMPACT, detailed inter-agency discussions were also held on a range of strategic areas, including defence cooperation, energy security, the TRUST initiative, counter-terrorism, the Indian Ocean Strategic Venture, and collaboration through platforms such as the Quad, I2U2, and IMEEC.
Foreign Secretary Misri, along with DNSA Kapoor, jointly chaired a roundtable with industry representatives, focusing on deepening bilateral collaboration in critical and emerging technologies. Additionally, they held a substantive interaction with members of the think tank community, covering the full breadth of the India-US strategic partnership, MEA said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
38 minutes ago
- Time of India
LatAm pivot
Times of India's Edit Page team comprises senior journalists with wide-ranging interests who debate and opine on the news and issues of the day. India must shed its protectionist mindset and trade more with resource-rich South America That Modi's ongoing five-nation tour includes Argentina and Brazil isn't a trivia. These two key South American nations can be important fulcrums of a potential Indian pivot to the continent. While India-South America trade has been steadily growing, it's far below potential. This has much to do with our unambitious approach to the region. True, India has a preferential trade agreement (PTA) with MERCOSUR bloc that includes Brazil, Argentina, Uruguay, Paraguay and Bolivia. The idea was that the PTA would be gradually expanded and upgraded to a free trade agreement (FTA). However, progress has been really slow and India's exports to Latin America in FY2025 stood at just $15.17bn – less than 2% of the region's total imports. But trade is back on the agenda during Modi's visits, and rightly so. While one still hopes that an India-US trade deal can be clinched, New Delhi must be prepared for all eventualities. And with Trump keen on using tariffs as a strategic weapon to achieve geopolitical goals – take the Lindsey Graham-proposed bill to hit countries buying Russian oil with 500% tariff – India must diversify its trade relations. South America is a natural resources powerhouse. With vast deposits of oil, gas, copper, lithium, rare earths etc it can power India's industrial growth, advance critical sectors like EV batteries, and bolster food security. The key for GOI would be to expand its diplomatic bandwidth and take a courageous approach to trade. We must cast away the protectionist mindset and be ready to compete. That's the only way beneficial FTAs can be worked out. Vietnam, which recently worked out a trade deal with US, has been following precisely this strategy, having inked 20 FTAs, with 16 already implemented. China already has a huge presence in Latin America. So, the latter is looking for balance. This is the perfect time for India to step up. Facebook Twitter Linkedin Email This piece appeared as an editorial opinion in the print edition of The Times of India.
Mint
38 minutes ago
- Mint
Is world order in the middle of a tectonic shift?
People in the US, startled by the rise of Zohran Mamdani as a Democrat candidate for New York's mayorship, are now witness to an even bigger and spicier political potboiler: Elon Musk's announcement last weekend of the formation of 'America Party", a new political outfit. Till the other day Musk was considered a staunch ally of US president Donald Trump. He was made the head of the now infamous Department of Government Efficiency (DOGE). He ruthlessly chucked out many from their jobs citing the need to pare government expenses. His axe also fell on a host of schemes and departments that were considered foundations of the US democracy. Musk wanted the government to be run like a corporate entity. But then, he had run-ins with vice president J. D. Vance and other influential people, which ended in his unceremonious removal from DOGE. Since then, Trump and Musk have been publicly threatening each other. Musk alleged Trump was named in the Epstein sex case files in a post on X, the short-messaging platform he owns. Later, he deleted the post, but not before an enraged Trump got back at his former ally by threatening to deport him. Also read | A new 'terror pot' that may be kept boiling for now Being a beneficiary of government subsidies and doles, Musk knows his ambitions can be fulfilled only by being on the right side of the government. This is why he has launched his political party. Musk feels US citizens are tired of the system and yearn for a new dawn. But the question is, will he succeed? Especially at a time when 'Democrat Socialist" Mamdani is gaining ground in New York. Mamdani has garnered political support at a pace akin to which Musk amassed wealth. He has won the primaries for the New York mayoral elections and will create history if he wins in November. He would be the first Muslim mayor of New York. Mamdani, son of celebrated Indian film-maker Mira Nair, became a US citizen in 2018 and married a Syrian Muslim. His father is a Gujarati left-wing intellectual based in Uganda. Mamdani's views and principles set him apart from his peers. At times, he becomes so aggressive that even his colleagues fear his approach may be extreme. But Mamdani isn't bothered. Also read | Testimony to the enduring spirit of Indian democracy During his campaign, Mamdani connected with New York's large immigrant population. He promised free bus rides, and told people he would freeze metro fares the moment he won elections. He promised construction of low-cost housing blocks, fixing rents for residential properties, and the creation of free childcare centres throughout the city. He wants to rein in the state-sponsored grocery shop owners' cartel. According to estimates, the average New Yorker's expenditure on groceries and essential items has risen by 50% over the past decade to now stand at 10–12% of their total income. Mamdani also proposes to levy higher taxes on the rich. India has seen this brand of politics for decades, but, we are also the ones who have exemplified limitations to such politics. In contrast to India, communist countries such as China and Vietnam have created economic models which give equal opportunity to work with state-sponsored enterprises or pursue private entrepreneurship. Is it due to their success that 70% of the people polled last year in the US showed them gravitating towards the communist model? Also read | Firm and focused leadership keeps India on course It is in such a situation that a triangular tussle between Musk, Mamdani and the established political order promises to create history. People who understand the US system know that the country became great as people from varied backgrounds and ideologies had the same opportunity to live and thrive in harmony. With the rise of the right wing, it seemed that this space was shrinking. But Mamdani's rise and civil society's rear-guard actions have once again brought the US to a point where it's still considered a democratic ideal despite being an imperial power. Today, China and the Global South are challenging US domination. The world order set by the US and the western European nations at the end of World War II has started withering. This is the reason scholars are talking of a tectonic shift in the systems laid down by the West-backed capitalism and US imperialism. Increasing geopolitical constraints are heightening such apprehensions. Have we unwittingly reached a crossroads that's leading to a systemic change? Shashi Shekhar is editor-in-chief, Hindustan. Views are personal.
Mint
an hour ago
- Mint
Samsung Elec Q2 profit likely to drop 39% on weak AI chip sales
Samsung's Q2 profit seen at 6.3 trln won, down from 10.4 trln won prior year Supply of advanced AI chips to Nvidia fell behind targeted schedule, analysts say Uncertainty surrounding U.S. trade policy remains risk SEOUL, July 7 (Reuters) - Samsung Electronics is expected to forecast a 39% plunge in second-quarter operating profit on Tuesday, weighed down by delays in supplying advanced memory chips to artificial intelligence chip leader Nvidia. The world's biggest maker of memory chips is projected to report an April-June operating profit of 6.3 trillion won ($4.62 billion), its lowest income in six quarters and fourth consecutive quarterly decline, according to LSEG SmartEStimate. The prolonged weakness in its financial performance has deepened investor concerns over the South Korean tech giant's ability to catch up with smaller rivals in developing high-bandwidth memory (HBM) chips used in artificial intelligence data centres. Its key rivals, SK Hynix and Micron, have benefited from robust demand for memory chips needed for AI, but Samsung's gains have been subdued as it relies on the China market, where sales of advanced chips have been restricted by the U.S. Its efforts to get the latest version of its HBM chips to Nvidia certified by Nvidia are also moving slowly, analysts said. "HBM revenue likely remained flat in the second quarter, as China sales restrictions persist and Samsung has yet to begin supplying its HBM3E 12-high chips to Nvidia," said Ryu Young-ho, a senior analyst at NH Investment & Securities. He said Samsung's shipments of the new chip to Nvidia are unlikely to be significant this year. Samsung, which expected in March that meaningful progress over its HBM chip could come as early as June, declined to comment on whether its HBM 3E 12-layer chips had passed Nvidia's qualification process. The company, however, has started supplying the chip to AMD, the U.S. firm said in June. Samsung's smartphone sales are likely to remain solid, helped by demand for stock ahead of potential U.S. tariffs on imported smartphones, analysts said. Many of its key businesses including chips, smartphones and home appliances continue to face business uncertainty from various U.S. trade policies including President Donald Trump's proposal for a 25% tariff on non-US-made-smartphones and the July 9 deadline for "reciprocal" tariffs against many of its trading partners. The U.S. is also considering revoking authorisations granted to global chipmakers including Samsung, making it more difficult for them to receive U.S. technology at their plants in China. Shares in Samsung, the worst performing stock among major memory chipmakers this year, have climbed about 19% this year, underperforming a 27.3% rise in the benchmark KOSPI. ($1 = 1,363.3600 won) (Reporting by Heekyong Yang; Editing by Miyoung Kim and Sonali Paul)
