Pakistan Warns India, Vows Fierce Response To Any Attack Over Pahalgam
Read More
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Mint
24 minutes ago
- Mint
PM Modi's Pakistani ‘rakhi sister' Qamar Mohsin Sheikh prepares special rakhi for him this Rakshabandhan: Watch
As Rakshabandhan approaches, Qamar Mohsin Sheikh, widely known as Prime Minister Narendra Modi's Rakhi sister of Pakistani origin, is preparing to tie a rakhi on his wrist. For the past 30 years, Sheikh has been sending rakhis to Modi, maintaining a bond she deeply cherishes, PTI reported. The name Raksha Bandhan signifies 'the bond of protection'. Each year, she handcrafts several rakhis and carefully picks one for the Prime Minister. This year, she has specially designed a rakhi featuring the sacred 'OM' symbol as a mark of devotion and tradition. On this day, a sister ties a rakhi around her brother's wrist, praying for his happiness and well-being, while the brother promises to protect her throughout life. The festival is rooted in Indian mythology, with stories like that of Lord Krishna and Draupadi, and Yamuna and Yama, which highlight the spiritual and emotional depth of this bond. This festival has grown beyond the traditional bond, becoming a broader symbol of affection and respect. According to Drik Panchang, Raksha Bandhan's shubh muhurat begins from August 08 at 02:12 pm and will conclude on August 09 at 01:24 pm.


Hindustan Times
24 minutes ago
- Hindustan Times
RBI governor Sanjay Malhotra on India's economy amid Donald Trump's US tariff threats
The Reserve Bank of India (RBI) on Wednesday kept the key repo rate unchanged at 5.50%, as rising trade tensions with United States President Donald Trump added a new layer of uncertainty to the economic outlook. RBI governor Sanjay Malhotra during a press conference on monetary policy statement in Mumbai on Wednesday, (PTI) The RBI move came after a unanimous vote by the central bank's six-member Monetary Policy Committee (MPC), which opted to hold the repurchase rate steady after a surprise 50-basis-point cut in June — the third since February. RBI governor Sanjay Malhotra addressed concerns over Donald Trump's escalating threats to impose higher tariffs on Indian imports due to New Delhi's continued purchases of Russian crude oil. 'We don't see a major impact of US tariffs on the Indian economy unless there is a retaliatory tariff,' Sanjay Malhotra said, adding, 'We are hopeful that we will have an amicable solution.' Malhotra acknowledged the evolving global trade landscape but expressed confidence in India's economic trajectory. 'Global trade challenges remain, but the Indian economy holds bright prospects in the changing world order. We have taken decisive and forward-looking measures to support growth,' he said. India's robust domestic demand, a forecast of above-average monsoon rains, and continued recovery in agriculture and rural consumption are expected to support GDP growth in the coming quarters. However, Trump's tariff rhetoric has heightened trade tensions. On Tuesday, the US President announced plans to "substantially" increase duties on Indian goods, adding to an earlier decision to raise tariffs from 10% to 25%, set to take effect on Thursday. He also warned of a separate penalty over India's purchases of Russian military hardware and oil. Last week, Trump went further, calling India a 'dead economy', comments that have drawn sharp criticism from Indian political and trade circles. Interest rate-sensitive auto, realty, bank stocks decline as RBI holds rates steady Interest rate-sensitive auto, realty, bank stocks decline as RBI holds rates steady Interest rate-sensitive auto, realty and bank stocks on Wednesday declined 5 per cent after the RBI kept its policy interest rate unchanged, as policymakers weighed the risks posed by Donald Trump's trade policies. The scrip of Bosch declined 4.85 per cent to trade at ₹38,617.75, Hyundai Motor India fell 1.95 per cent to ₹2,146.15, HeroMoto Corp depreciated 1.31 per cent to ₹4,482.60, Apollo Tyres diminished 1.07 per cent to ₹435.10, and Mahindra & Mahindra dipped 0.83 per cent to ₹3,183.50 on the BSE.


Fibre2Fashion
24 minutes ago
- Fibre2Fashion
Indian apparel exporters fear ambiguous US penalties more than tariffs
An undefined penalty clause tied to the newly imposed US tariffs has emerged as a significant challenge for India's textile and garment exports. When US President Donald Trump announced a 25 per cent reciprocal tariff on Indian exports, it created unease within the industry—but many exporters believed they could navigate the situation. However, the penalty clause attached to the tariff has now become a much more serious concern, one that even the Indian government may struggle to address due to its deliberate ambiguity. Indian garment exporters are more concerned about an undefined penalty clause tied to the US' 25 per cent reciprocal tariff than the tariff itself. The ambiguity, driven by President Donald Trump's threats over India's Russian oil purchases, is paralysing trade planning. Neither buyers nor exporters can act, and even Indian ministries remain uncertain about the implications. Trump is targeting India over its oil purchases from Russia and other geopolitical issues. He has also threatened to impose heavy penalties in addition to the reciprocal tariffs, but without specifying the exact nature or quantum of these penalties. This deliberate lack of clarity has effectively weaponised tariffs into a diplomatic tool, leaving exporters and importers unable to plan or price shipments reliably. Industry sources say the unspecified penalty clause has pushed the Indian garment and textile sector into a state of paralysis. Neither buyers nor exporters are able to confirm orders, as they cannot determine the actual tariff that will apply when consignments arrive at US ports. The timing is particularly critical, as US retailers typically place pre-winter orders for the New Year and Christmas season around this period. But the prevailing tariff uncertainty has stalled this process. Although the Ministry of Textiles and the Ministry of Commerce and Industry are engaging with industry stakeholders, discussions have largely focused on India's position relative to competing countries under the new tariff regime. A source from the Apparel Export Promotion Council noted that the government and industry may be able to maintain competitiveness even under higher tariffs—but the undefined penalty clause renders such planning ineffective. Even the relevant ministries are currently unclear about the implications. There are growing indications that the tariff issue has become more of a diplomatic challenge than an economic one. As such, the Ministry of External Affairs is playing a larger role in negotiations with the US administration to resolve the matter. Fibre2Fashion News Desk (KK)