Jairam Ramesh flags withdrawal of NITI working paper on Indo-US trade
— Jairam Ramesh (@Jairam_Ramesh) June 30, 2025
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News18
27 minutes ago
- News18
BEML bags order worth Rs 185.65 cr from govt
Agency: PTI New Delhi, Jul 18 (PTI) State-owned BEML on Friday announced it has bagged a government order worth Rs 185.65 crore for supply of 79 units of bulldozers. The company has bagged the order from the Ministry of Defence (MoD), BEML said in an exchange filing. 'BEML Ltd secures MoD order worth Rs 185.65 crore for the supply of 79 units of its flagship Power Angling & Tilting (PAT) bulldozers," it said. The new order follows the company's successful execution of an earlier contract for 66 bulldozers, all of which were delivered well within the stipulated timeline. 'This order reinforces our steadfast commitment to the Government of India's 'Make in India' initiative and our resolve to equip the nation's armed forces with reliable, high-quality, and indigenously developed solutions," Shantanu Roy, Chairman & Managing Director of BEML Ltd, said. BEML, under the administrative control of the Ministry of Defence, operates in three verticals – construction and mining, rail and metro, and defence and aerospace. PTI ABI SHW Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Indian Express
35 minutes ago
- Indian Express
Xi-Jaishankar meeting, Nvidia's Jensen Huang in Beijing, and GDP data
Minister of External Affairs S Jaishankar met Chinese President Xi Jinping during his first visit to China after the 2020 standoff along the Line of Actual Control (LAC) began. Jaishankar was in Tianjin to attend the meeting of foreign ministers from Shanghai Cooperation Organisation (SCO) countries on July 14 and 15. China had another high-profile visitor this week in Jensen Huang, the CEO of the tech giant NVIDIA. Earlier this month, it became the first public company in history to achieve a market capitalisation of $4 trillion. Huang spoke in Mandarin at an event in Beijing and signed autographs as part of what's been described as a 'charm offensive'. Finally, as we mentioned last week, China's latest GDP numbers for April to June were released, revealing a better-than-expected 5.2% growth. Here is a closer look at these developments: Following Defence Minister Rajnath Singh's June visit to China, which holds the rotating SCO presidency this year, Jaishankar went to Tianjin in northeastern China last week. While Singh refused to sign a draft statement that did not mention the Pahalgam terror attack, Jaishankar also used the platform to speak about terrorism. He said the SCO was founded in 2001 to combat the 'three evils' of 'terrorism, separatism and extremism', and that the grouping needed to take an 'uncompromising position on this challenge'. In a post on X, the minister said he 'Apprised President Xi of the recent development of our bilateral ties. Value the guidance of our leaders in that regard.' UPSHOT: In a statement during a meeting with his Chinese counterpart Wang Yi, Jaishankar noted that 'Since our leaders' meeting in Kazan in October 2024 (for the BRICS summit), the India-China relationship has been gradually moving in a positive direction. Our responsibility is to maintain that momentum.' That month, India and China completed the process of disengagement of troops in the Depsang Plains and Demchok areas of eastern Ladakh, two friction points along the LAC. 'We have made good progress in the past nine months for the normalization of our bilateral relations. It is a result of the resolution of friction along the border and our ability to maintain peace and tranquility there,' he said. This was significant, given the lack of discussion on these locations until recently. Easing of border-related disagreement, at least to an extent, has heightened the pace of cooperation in other areas, such as the resumption of the Kailash Mansarovar Yatra. An opinion article published in Global Times, the Chinese state media website, also had an interesting perspective about the slow pace of normalisation. 'New Delhi… begun to highlight its economic and security concerns regarding China. Many Chinese analysts pointed to the US factor behind Indian hesitation, while Indian scholars emphasized that India not be defined solely by its relationship with the US. How New Delhi handle the US divide-and-rule tactics will significantly affect its efforts on how and when to reset ties with China.' The Xi-Jaishankar meeting also led some commentators to speculate that Prime Minister Narendra Modi may visit China in late August for the SCO annual summit. The Taiwan-born CEO of the chip-designing giant has made several trips to China in recent years. This was his third trip in roughly the last six months. Huang did a host of things — he met Chinese Vice Premier He Lifeng, and Xiaomi founder and CEO Lei Jun, whom he called 'a brilliant business person' according to a CNBC report. At one point, he 'swapped his signature leather jacket for traditional Chinese-style attire and delivered a speech at the opening ceremony of a government-backed business fair, partly in Chinese,' The Wall Street Journal reported. He called China's supply chain 'a miracle,' praising the country's researchers, developers and entrepreneurs. UPSHOT: The visit came as Nvidia announced on Tuesday that it may soon sell its H20 chips again. They were meant for the Chinese market after its higher-quality chips were restricted by the US government. However, these chips were also prevented from being sold in China later. It was part of the policy to deprive China of key AI technology for strategic and security reasons, as the capability gap between the two countries narrows. 'NVIDIA is filing applications to sell the NVIDIA H20 GPU again. The U.S. government has assured NVIDIA that licenses will be granted, and NVIDIA hopes to start deliveries soon,' a statement from the company said. Relatively less advanced, these chips were positioned by the company as preventing the growth of Chinese indigenous companies, while also conveniently benefiting an American company. The New York Times recently reported that Huang recently met US President Donald Trump in the Oval Office and 'pressed his case for restarting sales of his specialized chips'. 'He argued that American chips should be the global standard and that the United States was making a grave mistake by ceding the giant Chinese market to homegrown rivals,' it added. However, Huang has also been criticised by some US politicians for excessively attempting to deepen ties with China. Since the second quarter covered the period when Trump announced his 'Liberation Day' tariffs, the release of this data was eagerly awaited to see how the Chinese economy fared. Undoubtedly, maintaining an above-5% growth rate is a positive sign, but the data also showed lower growth in domestic consumption, something long described as a problem area. We wrote two explainers breaking down the data this week. First, we looked at how the numbers stand and the recent factors that helped and hurt the economy. Second, we spoke to an analyst of the Chinese economy about the larger causes behind deflation and a slump in consumption. The bottom line is that while exports and manufacturing remain important drivers, domestic issues need to be addressed as well. Moreover, the data from later in the year could drive decisions on stimulus packages. Rishika Singh is a Senior sub-editor at the Explained Desk of The Indian Express. She enjoys writing on issues related to international relations, and in particular, likes to follow analyses of news from China. Additionally, she writes on developments related to politics and culture in India. ... Read More
New Indian Express
40 minutes ago
- New Indian Express
EU targets Indian refinery in new round of sanctions over Russian oil trade
NEW DELHI: In a renewed effort to put economic pressure on Russia, the European Union on Friday unveiled a fresh package of sanctions, which includes lowering the price cap on Russian crude oil and sanctioning Nayara Energy Ltd, an India-based refinery linked to Russian energy giant Rosneft. This marks the first time the EU has imposed sanctions involving India, a country that has heavily relied on discounted Russian crude since the start of the Russia-Ukraine war in 2022. Nayara Energy Ltd, formerly known as Essar Oil Ltd, operates a 20-million-tonne-per-year refinery in Vadinar, Gujarat, and manages a retail network of over 6,750 petrol pumps across India. Rosneft owns a 49.13% stake in the company. As a result of the sanctions, Nayara will no longer be able to export refined products such as petrol and diesel to European countries. 'For the first time, we're designating a flag registry and the biggest Rosneft refinery in India,' said EU foreign policy chief Kaja Kallas. The sanctions also blacklist 105 vessels from Russia's so-called shadow fleet — a group of ships that covertly transport Russian oil while evading international sanctions. The shadow fleet, once estimated at around 100 vessels in 2023, has grown to approximately 800 ships by 2025, according to EU diplomatic estimates.
