India, Australia witnessed 'enormous deepening and diversification' of cooperation, says Jaishankar
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
18 minutes ago
- Mint
Best of the Week: Power. Tariffs. Tensions. What's next for global trade?
Key export sectors such as textiles, auto parts, and food products were dealt a rude shock when US President Donald Trump slapped a 25% tariff—along with an additional 'penalty'—on Indian goods starting 7 August. But this isn't just about tariffs. It's about shifting alliances, rising economic nationalism, and a global order that's being reimagined in real time. That's why Mint is bringing together sharp global minds for a timely webinar: Because geoeconomics now drives geopolitics. And understanding this shift could help you make sense of everything from de-risking strategies to India's evolving equation with both the US and China. Can India and the US still find common ground on agriculture, tech, and digital rules? Or has this move reset the clock on 25 years of strategic engagement? Amb. Arun K. Singh, former Indian envoy to the US, with decades of high-stakes diplomatic experience. Ajay Srivastava, trade policy expert and founder of the Global Trade Research Initiative (GTRI). Moderated by Elizabeth Roche, former foreign affairs editor at Mint and now a professor at Jindal School of International Affairs. Register now if you want to decode the new rules of power, trade, and global influence. India's $87 billion export engine to the US just hit a speed bump. US President Donald Trump's call for a 25% tariff on Indian goods has raised eyebrows—and concerns. Textiles, electronics, pharma, even auto parts—everything's in the crosshairs. Is this the return of a full-blown trade war or just political posturing? With over 75% of Indian exports at risk, and key sectors bracing for impact, the stakes are high. Can India negotiate its way out, or will exporters feel the heat? The 25 August trade talks may hold the answers. India's early trade deals? Not exactly blockbuster hits. With partners like ASEAN, Japan, and South Korea, exports stagnated while imports surged. But India has learnt its lessons—and it shows. Recent pacts with the UAE and Australia are already yielding real returns. Now, the India-UK free trade agreement seems to be the boldest step yet. With smart tariff cuts, stronger services play, and mobility provisions, could this be the new blueprint? Is India finally turning the trade tide in its favour? Women are showing up—but not staying on. A new report by Udaiti Foundation and Quess Corp reveals that 52% of women in India's blue- and grey-collar workforce plan to exit within a year. Why? Low pay, poor work culture, safety concerns, and long, unsafe commutes top the list. Even as their numbers double, retention remains weak. What's pushing women out? And more importantly, what will bring them back in—and keep them there? With India's economy leaning on this workforce, creating jobs isn't enough. We need to make them worth staying for. TCS is letting go of 12,000 employees—mainly seniors—this year, citing AI disruption and slower growth. The message? India's IT giants are rebalancing. As clients demand cheaper deals and smarter tech, the people-heavy model is under stress. And TCS isn't alone—Wipro is testing language skills, HCL is trimming freshers. So, is AI really taking over—or is this just a reset for an evolving industry? Either way, tech talent will need more than just code to stay future-ready. Is the great Indian consumption story picking up pace again? Hindustan Unilever thinks so—and the numbers agree. After quarters of sluggish growth, HUL posted a strong 3% volume rise and an 8% jump in profit, riding on tax sops, easing inflation, and a monsoon boost. Urban and rural demand is inching up, new product bets are paying off, and optimism is back at the FMCG bellwether. But can this momentum last? If you've been waiting for signs of revival in India's consumer economy—this might just be it. Indian companies' profit pie is still heavily skewed towards its biggest firms, even though smaller listed firms made strong post-pandemic gains. A Mint analysis of 5,096 firms shows that the top 10% by revenue cornered over 90% of profits in 2024-25—unchanged for two years. While some sectors like textiles and hospitality saw smaller firms thrive, dominance by giants remains strong across others. The revival in mergers and acquisitions suggests the playing field could tilt further. This data-packed story, with rich charts and sector-level insights, examines whether India's small firms are losing ground again in a David vs Goliath battle. In Tiptur, Karnataka, a hen named Kaveri is laying the foundation for a new kind of egg economy. She's part of Akshayakalpa's cage-free, antibiotic-free farm, where eggs are premium, traceable, and sold with a promise of purity. Startups like Eggoz, Henfruit, and Farm Made are trying to turn eggs into branded health products, not just cheap protein. But with fragile supply chains and price-sensitive consumers, can this sunny-side-up revolution scale? Or will it remain a niche, yolk-tinted dream? Nayara Energy, one of India's top fuel retailers, recently had its Microsoft services suspended. Why? Microsoft interpreted EU sanctions against Nayara's Russian shareholder as reason enough to halt emails, team communications, and operations. Though services were restored in two days, the episode exposed a deeper fault line: how dependent critical businesses are on foreign tech firms. As firms increasingly run on cloud tools, this incident shows how easily geopolitics can trigger service cuts, even without clear legal mandates in India. This year's generous monsoon—8% above normal so far—has boosted kharif sowing across India, especially of rice and maize. Nearly 84% of the country has seen normal or excess rainfall, with major gains in states like Rajasthan and Madhya Pradesh. This has led to a 13% jump in rice planting and 9% in maize, offering hope for stable food prices and a push toward ethanol production. However, farmers are steering away from oilseeds due to poor returns, raising questions about long-term crop diversity. Could the shift towards water-intensive crops and biofuel-linked grains come at the cost of sustainable farming and future food security? This monsoon, cities across India—from Patna and Delhi to Mumbai and Bengaluru—have been brought to their knees by flooding. The reasons are well known: clogged drains, haphazard construction, poor waste management, and chronic underfunding of city infrastructure. The deeper problem? India's municipalities are broke, dependent on state grants, with little ability to raise their own funds or fix core services. Waste-to-energy plants, revamped drainage, and better accounting exist, but require serious investment and planning. Municipal bonds were meant to help, but few cities can even qualify. As flooding becomes an annual urban ritual, the question is no longer why this happens but how long can India's cities survive this cycle of neglect? That's all for this week. I hope you have a pleasant weekend! If you have feedback, want to discuss food, movies and shows or have anything else to say about our journalism, write to me at or reply to this email. You can also write to feedback@
Hans India
18 minutes ago
- Hans India
India plays down Trump's 'dead economy' jibe
NEW DELHI: India on Friday brushed aside US President Donald Trump's diatribe against it, saying the partnership between the two countries "weathered" several transitions and challenges. The comments by the ministry of external affairs came a day after Trump imposed 25 percent tariff on India and described the Indian economy as 'dead'. 'India and the United States share a comprehensive global strategic partnership anchored in shared interests, democratic values, and robust people-to-people ties,' MEA spokesperson Randhir Jaiswal said. 'This partnership has weathered several transitions and challenges,' he said at his weekly media briefing. 'We remain focused on the substantive agenda that our two countries have committed to and are confident that the relationship will continue to move forward,' Jaiswal said. To questions on India-US defence ties, Jaiswal said the two countries have a strong defence partnership which has been strengthened over the last several years. There is potential for this partnership to grow further, he said. On India's energy procurement, Jaiswal said it is driven by national interest.
Time of India
an hour ago
- Time of India
India reportedly halting Russian oil would be 'a good step', says Trump, as New Delhi defends energy security
United States President Donald Trump on Friday (local time) suggested that India may cease purchasing Russian oil, calling it "a good step" if confirmed, while India has defended its sovereign right to conduct energy policy based on national interest. Earlier on Friday, the Ministry of External Affairs (MEA) clarified that India's energy purchases are guided by market dynamics and national interests, adding that the government is unaware of any specific developments regarding Indian oil companies pausing Russian imports. Explore courses from Top Institutes in Please select course: Select a Course Category Cybersecurity CXO Product Management Public Policy PGDM Technology MBA Degree Digital Marketing Finance healthcare Data Analytics Data Science Design Thinking Project Management others Leadership Data Science Operations Management Healthcare MCA Others Artificial Intelligence Management Skills you'll gain: Duration: 10 Months MIT xPRO CERT-MIT xPRO PGC in Cybersecurity Starts on undefined Get Details US President Trump made the remarks while answering ANI, on whether he had a number in mind for the penalties on India and if he was going to speak with Prime Minister Narendra Modi. The US President said, "I understand that India is no longer going to be buying oil from Russia. That's what I heard, I don't know if that's right or not. That is a good step. We will see what happens..." says, US President Donald Trump on a question by ANI, if he had a number in mind for the penalties and if he is going to speak with PM Modi." On Friday, during the weekly media briefing, MEA spokesperson Randhir Jaiswal, when asked about media reports that some Indian oil companies have stopped taking oil from Russia, had said India has made clear its approach on the issue. Live Events "You are aware of our broad approach to energy sourcing requirements, that we look at what is available in the market and the prevailing global situation. We are not aware of any specifics," he said. Jaiswal's comments came after a series of statements from the US, including from President Donald Trump and Secretary of State Marco Rubio, criticising India for continuing to import discounted Russian oil despite Western sanctions over the Ukraine war. On the front of India-US ties, New Delhi on Friday expressed confidence that its relationship with the United States will continue to move forward and it remains focused on the substantive agenda the two countries are committed to. Meanwhile, on Wednesday, Trump announced the imposition of 25 per cent tariffs on Indian goods and a penalty for importing Russian oil, even as there were hopes of an interim India-US trade that would have otherwise helped avoid elevated tariffs. After announcing a 25 per cent tariff and penalties for purchasing Russian oil, US President Donald Trump had said on Wednesday (local time) that Washington is continuing trade negotiations with New Delhi. He emphasised that India is one of the countries imposing high tariffs on the United States. In response to ANI, if the US remains open to negotiating with India on the tariff front, Trump stated, "We're talking to them now. We'll see what happens. Again, India was the highest or just about the highest tariff nation in the world, one of the highest, 100 points, 150 points or percentages. So India was one of the highest in the world. They had 175 per cent and higher than that." He emphasised India-US ties, calling Prime Minister Narendra Modi a "friend," while noting the US trade deficit with India. He further stated that it "doesn't matter too much" if the India-US deal reaches a certain tariff. "As you know, Prime Minister Modi is a friend of mine, but they don't do very much business in terms of business with us. They sell a lot to us, but we don't buy from them. You know why? Because the tariff is so high. They have one of the highest tariffs in the world. Now they're willing to cut it very substantially. But we'll see what happens. We're talking to India now," the US President said. Meanwhile, in India, the government informed Parliament on Thursday that US President Donald Trump has announced a reciprocal tariff on Indian goods. It is currently examining the impact of these recent events and will take all necessary steps to safeguard the national interest.
