Trump hails reports of India halting oil imports from Russia
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First Post
8 minutes ago
- First Post
Philippines President Marcos in India for 5-day visit: Why this visit is significant
Philippines President Ferdinand Marcos Jr will make his first state visit to India from today (August 4), marking 75 years of diplomatic ties. The visit includes talks with Prime Minister Modi, defence and trade discussions, and a Bengaluru business engagement read more Philippine President Ferdinand Marcos Jr delivers his fourth State of the Nation Address (SONA), at the House of Representatives, in Quezon City, Metro Manila, Philippines, July 28, 2025. File Image/Reuters Philippines President Ferdinand Marcos Jr is on his first official visit to India from Monday to Friday (August 4-8, 2025) aimed at advancing cooperation between New Delhi and Manila. The visit comes as the two nations commemorate 75 years of diplomatic relations. This high-level state visit is expected to encompass a broad agenda – from defence and maritime security to trade, investment, and cultural exchange – and marks the first trip by a Filipino head of state to India since Gloria Macapagal-Arroyo's visit in 2007. STORY CONTINUES BELOW THIS AD What's on the Marcos agenda in India Marcos, invited by Prime Minister Narendra Modi, will be accompanied by First Lady Louise Araneta Marcos, along with an entourage including senior Cabinet ministers, top bureaucrats, key dignitaries and business leaders. During his stay in New Delhi, Marcos will meet with Modi on August 5 for in-depth bilateral talks. In addition to Modi, he is slated to call on President Droupadi Murmu and External Affairs Minister S Jaishankar, with discussions expected to cover areas ranging from regional security concerns to bolstering economic ties. According to the Philippine Communications Office (PCO), the official engagements won't be limited to Delhi. 'After official meetings and events in New Delhi, the President and his delegation will travel to Bangalore. He will meet with the business sectors in both cities,' the PCO stated. This Bengaluru leg will be a focal point for economic engagement, as Marcos interacts with leading Indian companies and potential investors. Marcos will also hold a community outreach session with members of the Filipino diaspora in New Delhi. The visit, spanning five days, signals Manila's intent to strengthen strategic ties with one of Asia's largest economies, while also providing New Delhi with a valuable opportunity to deepen its 'Act East' Policy. The trip follows a long hiatus in top-level exchanges. The last time an Indian president visited the Philippines was Ram Nath Kovind in 2019, whereas Marcos's journey will revive head-of-state diplomacy after nearly two decades. India-Philippines defence a priority Defence cooperation has emerged as one of the strongest anchors of India-Philippines relations, and it is set to be a highlight of this state visit. In January 2022, Manila signed a $374.9 million agreement for the purchase of the BrahMos supersonic cruise missile system, making the Philippines the first foreign buyer of India's flagship missile platform. STORY CONTINUES BELOW THIS AD The first delivery of the BrahMos took place on April 19, 2024, an event that signalled growing strategic convergence between the two countries. India has been steadily expanding its defence outreach to Southeast Asia, and with the Philippines, the collaboration spans military training, ship visits and maritime security dialogues. Indian Navy and Coast Guard vessels frequently make port calls to the Philippines – notable visits include INS Satpura in June 2022, INS Ranvijay and INS Kora in August 2021, and several earlier deployments. These have often been accompanied by joint exercises, including the first-ever Navy-to-Navy Passage Exercise in the West Philippine Sea in 2021. Cooperation has gone beyond drills and deployments. The two sides signed an MoU on Enhanced Maritime Cooperation in 2023, alongside a Standard Operating Procedure (SOP) for exchanging white-shipping information, allowing real-time sharing of data on commercial ships to bolster maritime security. High-level defence engagements have also been frequent. A Philippine Coast Guard delegation led by CG Admiral Artemio M Abu visited India in August 2023, and the Philippine Army's commanding general, Lt Gen Roy Mabagos Galido, travelled to India for the 13th Indo-Pacific Army Chiefs' Conference in September 2023. STORY CONTINUES BELOW THIS AD A 2006 Defence Cooperation MoU led to the creation of the Joint Defence Cooperation Committee (JDCC), which has convened four times, most recently in March 2023 in New Delhi. A separate MoU on Defence Industry and Logistics Cooperation signed in 2017 resulted in a Joint Defence Industry and Logistics Committee (JDILC), which has met thrice, including in March 2022. The armed forces of both countries also participate in specialised training exchanges. Philippine officers have attended India's prestigious National Defence College (NDC), while Indian officers have been part of the Master in National Security Administration (MNSA) course in Manila. Engagements extend to staff college programs and delegation visits, including multiple visits by Indian military education institutions such as the Army War College, Mhow. During the Shangri-La Dialogue in Singapore in 2024, Marcos articulated Manila's vision, stating that his country 'will pursue more robust collaboration with friends such as India.' This declaration, alongside India's consistent stance on freedom of navigation and territorial integrity in the South China Sea, positions the defence track as an area ripe for new agreements or expanded commitments during the visit. STORY CONTINUES BELOW THIS AD What trade between India-Philippines looks like While defence cooperation grabs headlines, trade and investment form the backbone of the India-Philippines relationship – and Marcos's visit is expected to bring this into sharper focus. Bilateral trade has grown steadily, hitting $3.53 billion in 2023-24, a year-on-year increase of 8.6 per cent. India has maintained a healthy trade surplus, exporting $2.09 billion worth of goods to the Philippines while importing $1.43 billion. Major Indian exports include: Engineering goods and automotive parts Pharmaceutical products (India supplies around 20 per cent of total pharma exports to ASEAN) Steel, petroleum products, and chemicals Electronics, plastics, rice, and bovine meat Key imports from the Philippines to India feature: Electrical machinery and semiconductors Copper, lead, and precious stones Plastics and ores Food industry residues and animal fodder According to trade data, Indian pharmaceutical products accounted for 15.96 per cent of Philippine pharmaceutical imports in 2023, putting a spotlight on India's strong role in Manila's healthcare sector. Investment flows complement trade. Indian companies have invested an estimated $5 billion in the Philippines, largely in sectors like IT and BPO services, pharmaceuticals, textiles, agriculture and FMCG. Conversely, Philippine investments in India are smaller but strategically placed, with firms like Ayala's AC Energy Corporation and Atlantic Gulf & Pacific Company (AG&P) active in renewable energy, construction, and infrastructure. Efforts to further streamline commerce have been ongoing. In April 2022, the two countries signed an Agreement on Cooperation and Mutual Assistance in Customs Matters (ratified in June 2023). Additionally, talks on a Preferential Trade Agreement (PTA) were revived in December 2023, with negotiations continuing to frame the Terms of Reference for the Trade Negotiations Committee. To encourage tourism and business exchanges, the Philippines recently introduced visa-free travel for Indian nationals, while direct flights between the two countries are expected to resume by late 2025 – a move that could significantly boost connectivity. STORY CONTINUES BELOW THIS AD Why a strong India-Philippines bond matters The visit holds significance beyond bilateral ties. India and the Philippines are both part of a wider Indo-Pacific strategic framework, sharing concerns about maritime security and trade routes. The Ministry of External Affairs has framed the visit as part of India's broader outreach to Southeast Asia, noting, 'India's relations with the Philippines are an integral pillar of our 'Act East' Policy, Vision MAHASAGAR and our vision of the Indo-Pacific. The forthcoming State Visit of President Marcos coincides with the 75th anniversary of India-Philippines diplomatic relations. The visit is an opportunity for both leaders to set the path for future bilateral cooperation and to engage on regional and international issues of mutual interest.' India's Comprehensive Strategic Partnership with ASEAN also feeds into the relationship, and Marcos's engagements in India are expected to highlight Manila's role as a key Southeast Asian partner for New Delhi. The Philippines, facing ongoing challenges in the South China Sea, views partnerships with like-minded countries as critical. India, which has consistently upheld the principle of freedom of navigation and opposed unilateral changes to the status quo in maritime disputes, provides Manila with a supportive partner in this domain. STORY CONTINUES BELOW THIS AD With inputs from agencies
India Today
8 minutes ago
- India Today
Is Donald Trump's tariff blitz killing the American Dream?
For all of US President Donald Trump's promises of an economic 'golden age,' a spate of weak economic indicators tells a more troubling story as the impacts of his policies come into sharper latest jobs report came in underwhelming. Consumer prices are creeping upward again. And growth is slowing compared with last year. The numbers don't lie, and they're not painting a picture of than six months into his term, Trump has aggressively reshaped America's trading, manufacturing, and tax frameworks to reflect his economic nationalism. His blitz of tariff hikes, spending shifts, and executive orders may have pleased core supporters, but the aftershocks are now rippling through the economy. Trump has positioned himself to take credit for any gains while scrambling to assign blame when data points disappoint. After Friday's bleak jobs report, he fired the head of the agency responsible for the numbers, claiming without evidence that the figures were politically manipulated. 'The Economy is BOOMING,' Trump posted on Truth Social, contradicting the very data his own government economic fallout of his policies may still be unfolding, but what's becoming increasingly clear is that the promised boom is proving elusive. US ECONOMY IS NOT 'BOOMING'Economists are beginning to detect early warning signs. Growth has slowed to an annualised 1.8% in Q2, far below the 3–4% Trump promised. Inflation is rising again, with core CPI up 3.6% year-on-year. Job creation has dropped below expectations for the second straight month. Real wages are yet, Trump's rhetoric remains unchanged. He's banking on delayed benefits: that tariffs will protect American jobs, that interest rate cuts will fuel a housing revival, and that deregulation will eventually drive corporate for many Americans already reeling from higher prices and fewer job openings, that promised future feels increasingly out of CHAOS TO HURT US CONSUMERSTrump's most audacious bet—sweeping tariffs on nearly all foreign goods—is now colliding with reality. The tariffs, which began taking effect this month, are structured to escalate further in early White House has argued that its recent wave of trade deals—from the EU and Japan to the Philippines—will cushion the blow. But for the average American consumer, tariffs function as a tax. Importers raise prices to cover the duties, which trickle down into grocery bills, construction materials, appliances, and administration insists these moves are part of a longer-term strategy to reshore manufacturing and reduce trade deficits. advertisementBut that narrative is output fell 0.4% in June. The US trade deficit widened in July to $71.2 billion. And consumer sentiment, according to the University of Michigan survey, has slipped to its lowest level in 18 SUPPORTERS DEFEND TARIFFSDespite mounting evidence of economic turbulence, Trump's supporters continue to defend the tariffs, arguing that the full impact will take time to materialise. Some Republican strategists believe the short-term pain is a necessary price for long-term gain.'Considering how early we are in his term, Trump's had an unusually big impact on the economy already,' Alex Conant of Firehouse Strategies told The Associated Pr. 'The full inflationary impact of the tariffs won't be felt until 2026. Unfortunately for Republicans, that's also an election year.'Even so, public approval of Trump's economic stewardship is slipping. Just 38% of adults support his handling of the economy, according to a July AP-NORC poll, down from 50% at the end of his first latest move—blaming the Federal Reserve for not cutting interest rates fast enough—has unnerved investors. Rate cuts may marginally ease mortgage rates, but economists warn they could also re-ignite inflation. It's a risky wager that may undermine confidence in the Fed's SPILLOVERTrump's tariff blitz isn't just straining American households, it's also hurting global trade flows. On August 1, the US formally sanctioned six Indian firms for allegedly buying Iranian petrochemicals, citing violations of Trump's tightened export regime. The sanctions sent shockwaves through India's petrochemical sector, with several companies now facing blocked access to US impact isn't limited to India. European automakers are bracing for higher input costs. Southeast Asian textile exporters are seeing orders rerouted. And China, already caught in a trade war redux, has hinted at retaliatory tariffs of its own. The idea that Trump's trade strategy would isolate China while strengthening US alliances has so far proven inaccurate. And now, it seems that the US is now entangled in disputes on multiple then, Trump's allies insist that it's too soon to judge the results. 'President Trump is implementing the very same policy mix of deregulation, fairer trade, and pro-growth tax cuts at an even bigger scale – as these policies take effect, the best is yet to come,' said White House spokesman Kush that optimism is increasingly at odds with reality on the ground. For many Americans, the promised economic revival feels more like a slow bleed. Higher prices, a jittery job market, and falling real incomes are beginning to this is Trump's golden age, it's starting to look like fool's gold. So far, 'making America great again' seems to be coming with a price tag Americans weren't told about.- EndsTune InTrending Reel
NDTV
8 minutes ago
- NDTV
PM Modi Defiant As Trump Steps Up Pressure On India's Russian Oil Purchases
Prime Minister Narendra Modi struck a defiant tone in the face of US President Donald Trump's tariff threats, urging the nation to buy local goods as his administration signaled it would continue buying Russian oil. PM Modi's government hasn't given Indian oil refiners instructions to stop buying Russian oil, and no decision has been taken on whether to halt the purchases, people familiar with the situation told Bloomberg, asking not to be named due to the sensitivity of the matter. Both state-run and private refiners are allowed to buy from preferred sources, and crude purchases remain a commercial decision, several of the people said. Over the weekend, PM Modi underscored the importance of shielding India's economic interests during uncertain global conditions. The comments came just days after the US President Trump administration imposed a 25% tariff on Indian exports to the US. The White House is also threatening more action if India continues Russian oil purchases. "The world economy is going through many apprehensions - there is an atmosphere of instability," PM Modi said at a rally in Uttar Pradesh on Saturday. "Now, whatever we buy, there should be only one scale: we will buy those things which have been made by the sweat of an Indian." India has become one of Mr Trump's top targets as he looks to pressure Russian President Vladimir Putin to end his war in Ukraine. The US president lashed out at India last week, criticizing it for joining the BRICS grouping of developing countries and maintaining close ties with Russia, saying "they can take their dead economies down together." The rebuke marked a stunning shift in tone for the US, which for years had overlooked India's close historical ties with Russia as it courted the nation as a counterweight in Asia to China. Now, US President Trump appears willing to undo that strategy to gain leverage against Putin, who has resisted the US president's efforts to end the fighting in Ukraine. 'Get Real' Stephen Miller, Mr Trump's deputy chief of staff, on Sunday accused India of imposing "massive" tariffs on American goods and "cheating" the US immigration system in addition to purchasing about as much Russian oil as China. "President Trump, he wants a tremendous relationship and has had always a tremendous relationship with India and the prime minister," Mr Miller said. "But we need to get real about dealing with the financing of this war." "So, President Trump, all options are on the table to deal diplomatically, financially and otherwise with the ongoing war in Ukraine, so we can achieve peace," Mr Miller added. US President Trump last week told reporters he "heard" India would no longer be buying oil from Russia, calling it "a good step." Bloomberg reported last week that refiners were told to come up with plans for buying non-Russian crude, but one of the people said the instruction amounted to scenario planning in case Russian crude were to become unavailable. The New York Times reported Saturday that India would keep buying Russian crude despite a threat of penalties from Mr Trump, citing two senior Indian officials it didn't identify. An Oil Ministry spokesperson didn't reply to messages from Bloomberg seeking comment outside of regular business hours. India's refiners have been singled out by the European Union and the US for supporting Moscow during its war in Ukraine with the oil purchases. It has become the world's biggest buyer of Russian seaborne exports of crude, soaking up discounted barrels and ramping up its purchases from almost zero to about one-third of its imports. Although China is the primary economic and diplomatic backer of Russia, Mr Trump's leverage against the world's second-biggest economy is limited due to Beijing's control of rare-earth magnets the US needs to make high-tech goods. The US and China have held talks in recent months aimed at stabilising the relationship after they both hiked tariffs on each other's goods well beyond 100% earlier this year. 'Time-Tested Partnership' India has defended its ties with Russia, one of its biggest suppliers of weapons dating back to the Cold War. The two nations have a "steady and time-tested partnership," Foreign Ministry spokesperson Randhir Jaiswal told reporters on Friday. "Our bilateral relationships with various countries stand on their own merit and should not be seen from the prism of a third country," Mr Jaiswal said. Asked about ties with the US, he added that he's "confident that the relationship will continue to move forward." India expects US trade negotiators to visit the country toward the end of the month to continue talks on a bilateral deal, an official in New Delhi said Friday. The nation will hold its ground and won't give the US access to its dairy and agriculture sectors, the official said, citing political and religious sensitivities. PM Modi's renewed emphasis on domestic manufacturing and consumption echoes his long-standing "Make in India" initiative. However, the message has taken on new urgency after the US tariffs. "The interests of our farmers, our small industries and the employment of our youth are of paramount importance," PM Modi told the rally on Saturday.
