PM Modi greets Lee Jae-myung on presidency, signals intent for close cooperation
He expressed his congratulations on X to Mr Lee Jae-myung for Lee Jae-myung election as President of the Republic of Korea (ROK). We anticipate collaboration to enhance and solidify the India South Korea relations.
Mr Lee Jae-Myung has been elected as the new President of the Republic of Korea. Keen to collaborate in extending and enhancing the India-ROK Special Strategic Partnership.
On early Wednesday Lee Jae-myung from the liberal opposition became the new president following a period of political chaos that started when Yoon Suk Yeol imposed martial law.
President Myung announced his government would implement strong deterrence against North Korean aggression based on the solid military partnership between South Korea and the United States during his first speech after taking office.
Myung underlined his administration's openness to engage in talks with North Korea which would foster enduring peace throughout the Korean Peninsula. Lee encouraged South Korean citizens to advance "with hope and make a fresh start from this moment on" during his early Wednesday speech to his supporters according to Reuters.
Despite our temporary diplomatic ties they remain fellow citizens of the Republic of Korea regardless of their lack of support for us he stated.
He committed to continuing discussions and working together with North Korea to build peaceful coexistence and mutual prosperity even though South Korea remains technically at war with the North.
Lee Jun-seok has divided conservative voters through his campaign which targets both younger people and a wider demographic than Kim while he builds his reputation as a legitimate future leader. The exit poll data showed that he captured 7.7% of the total vote share.
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Deadly Myanmar junta airstrike hits rebel-held mining town kills 13 including monk, child
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The Print
an hour ago
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No duty concessions to US on agri, dairy, GM foods: An explainer
Earlier, this duty was to be imposed from August 1. The President has also not specified the penalty which he has announced on India for buying crude oil and military equipment from Russia. With the US not able to finalise a deal with India so far, US President Donald Trump on Thursday announced imposition of an additional 25 per cent import duty on Indian goods entering American markets from August 7. New Delhi, Aug 2 (PTI) India has toughened its stance on extending duty concessions on agri products, dairy and GM foods in the proposed bilateral trade agreement (BTA) with the US. Here is a list of Q&A (questions and answers) to explain reasons behind India's stand and impact of US tariffs on labour-intensive sectors: * What is the India-US bilateral trade agreement (BTA)? – India and the US entered into negotiations for a fair, balanced and mutually beneficial BTA in March 2025 with a target to complete the first tranche/phase of the pact by fall (October-November) of 2025. So far, five rounds of talks have been completed. For the next round, the US team, headed by Assistant US Trade Representative for South and Central Asia Brendan Lynch, is visiting India from August 25. * What is the aim of the BTA? – Normally in a trade agreement, two trading partners either significantly reduce or eliminate import duties on the maximum number of goods traded between them. Besides, they ease norms to promote trade in services and increase two-way investments. The India-US BTA is aimed at more than doubling the bilateral trade to USD 500 billion by 2030 from the present USD 191 billion. *What are the major demands of the two countries from each other in the BTA? – The US wants duty concessions on certain industrial goods, automobiles, especially electric vehicles, wines, petrochemical products, agri goods, dairy items, apples, tree nuts, and genetically-modified crops. India is seeking the removal of this additional tariff (25 per cent now) and cut in tariffs on steel and aluminium (50 per cent), auto sector (25 per cent), labour-intensive sectors, such as textiles, gems and jewellery, leather goods, garments, plastics, chemicals, shrimp, oil seeds, grapes, and bananas. *How much tariff is imposed by the US on Indian goods at present? – India's average import duty is about 17 per cent, while the US' is 3.3 per cent. On April 2, the US announced to impose 26 per cent duty (16 per cent reciprocal tariff and 10 per cent baseline tariff). At present, only the baseline tariff is in force. It is over and above the existing import duty on Indian goods. For example, before April 2, the Indian textiles were attracting a 6-9 per cent tariff in America. With the baseline tariff, it rose to 16-19 per cent. But from August 7, the sector will attract a 31-34 per cent duty. The baseline tariff will be replaced by 25 per cent duty notified on July 31 by the White House. However, certain products are exempted from these tariffs such as pharmaceutical, electronics and energy products. * From when the 25 per cent duty will come into force? – The duty, announced this week, will come into force from August 7 (9.30 am IST). The executive order has also clarified that goods in transit until October 5, 12:01 am eastern daylight time (EDT), or 09:30 am IST, will be subject to a 10 per cent tariff, provided that such goods have entered into transit before August 7 12:01 am EDT. *Why India is not ready to provide duty concessions on dairy, agri and GM foods? – Agri: Farm livelihoods are at stake. This is a politically and economically sensitive area as over 700 million people in India's rural economy are dependent on the sector. If India removes tariffs, cheap, subsidised US grains could flood Indian markets during global price crashes. Unlike the US, where agriculture is corporatised, Indian farming is a livelihood issue. Tariffs are essential to protect small farmers, manage price volatility, and ensure food security. Dairy: India wants to safeguard its small farmers. GTRI stated that the US argues that India's GM-free feed certification and facility registration protocols effectively bar American dairy imports. 'Indian rules prohibit imports from animals fed with animal-derived feed'for example, butter from a cow fed meat'due to religious sensitivities. India considers this policy non-negotiable,' GTRI has said. GM Food: These are created by inserting specific genes, often from bacteria, viruses, other plants, or occasionally animals, into a plant's DNA to introduce new traits, such as pest resistance or herbicide tolerance. Allowing the import of GM products such as soybean meal and distillers dried grains with solubles (DDGS) for animal feed would affect India's agricultural exports to the EU, a key destination for Indian exporters. PTI RR ANU ANU This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Hindustan Times
an hour ago
- Hindustan Times
Short-term hiccups, long-term rewards
That this is not a good week for India-US relations is an understatement. With 25% tariffs, threat of a 'penalty' for purchasing oil and military equipment from Russia, criticism for being a part of the Brics grouping, and sermons over an apparently 'dead economy' and 'obnoxious non-monetary trade barriers,' US President Donald Trump has made clear that India, who he still calls a 'friend', is high on his imagination. His irritation might even be personal. It's difficult to say. The conclusion of what appears to be a last-minute trade agreement with Pakistan, still with 19% tariffs, and a plan — the details of which are best known to the President — to develop untapped and 'massive oil reserves' within Pakistan is striking, if not mystifying to global oil experts. Understandably, within India, anger has dimmed the vision for promise in a relationship that has transformed in the past two decades. Well known television anchors have selflessly advised the government to 'draw a line' because, apparently, 'Trump always chickens-out'. Given that the Indian Parliament is in session, news channels have one sound bite after another on this crucial relationship, the state of the Indian economy, and much else. Friends in Washington D.C. who have spent a lifetime building trust between the two countries are appalled. 'What is lost,' argues Evan Feigenbaum, a former US official who played a key role in getting the US-India civil nuclear agreement across the line, 'is trust that took 25 years of painstaking, hard, bipartisan work and a huge lift by advocates in both countries'. Trust, the former official argues, is 'hard to build, easy to lose'. To be sure, within India, those who have remained sceptical, to put it mildly, of deepening US-India ties find themselves back in the limelight. Russian social media handles are electrified. 'We stand with India' are lines being circulated on WhatsApp groups and through unattributable handles. There is little doubt that in some office corner in China, a disinformation campaign is on the loose. Yet, whilst fully acknowledging the complexities woven into these difficult days for Indian and American interlocutors who have battled hard for a better future, this is neither the time for India to engage in grammar wars — this can be left to anchors and pundits alike — or, in fact, give-up on the functional aspects of the relationship. Understandably, there will be an impulse to pause ties across the board. Politically, it might be prudent too. But this is the time to demonstrate a version of altruism keeping the future in mind. For US experts, the term altruism refers to some strange conceptualisation of benevolence. Supporting India without asking for something in return, they would argue, was the spirit that drove American officials to go out of their way to accommodate India's civil nuclear ambitions. Currently, the verve is to turn altruism on its head, and for India to give more than it gets — to get past Trump 2.0. Many in India will disagree with this conceptualisation. I do. But that's another matter altogether. What is needed is an altruism not to react to a President who may well be negotiating for a better day or determinately pushing India where it hurts. He may hit India with 30% tariffs next week. His negotiators and their counterparts within India, who in all likelihood had agreed on terms for the first tranche of the trade deal, may still prevail. It is impossible to tell. What is clear is that no one in the US, including those within the White House can second guess Trump's next move or tweet. What is required is for India to be lingually altruistic to a President, who only in part controls the temperature and shapes the trajectory of a relationship that has proliferated well beyond government ties. This is the real success of the US-India relationship: The creation of a wide and spirited ecosystem that is fusing ties that go well beyond the government and foreign military sales. This is not to say that the drum that beats within the White House is not important. It is not necessarily all-important. The trust that has been built may not, in fact, be that easy to lose. Neither can it be taken for granted any longer. But this will require persistent engagement at the functional level and within this broader ecosystem. There are some 1,500 American Global Capabilities Centres peppered across India. Cutting-edge American defence platforms are being assembled in Hyderabad. Every major American technology firm has deep investments in India. This number is only growing. India's space companies service contracts for the US Space Force. The lists of these intersections are almost countless. For India's own economic and technological growth, a good part of the future lies with the US beyond Trump. This, of course, does not mean taking the bait for geopolitical realignments, which the government seems firm on. And rightly so. In fact, in a couple of months, the US may even strike an agreement with Russia, turning the tide on the current pressure on oil sales. If the Quad summit takes place in October or November, there is still an opportunity to functionally streamline and add substance to the myriad of working groups from cyber and infrastructure to space and critical and emerging technologies. AI infrastructure deals are unlikely, as of this moment, to stop in their tracks. India will host the Global AI Impact Summit in February 2026. Every technology company in the world wants to be involved, and all American firms want to send their top brass to Delhi. This is an opportunity to further deepen an already invested ecosystem. In sum, there is no doubt that India is in a tight spot. But not an impossible one. As of this moment, there is nothing to suggest that all is lost. It is not. Yet, at the functional level from government to industry and from technology to investment portfolios, there is a need to engage — for the sake of a relationship that has the space and dexterity, at least for a little time, to bridge ties beyond normalcy. Notwithstanding all the noise on the television channels and in Parliament, it is in India's interest to be linguistically altruistic for the sake of a relationship that has the space and dexterity, at least for some time, to bridge ties beyond immediacy. Rudra Chaudhuri is director, Carnegie India. The views expressed are personal.
