
Montenegro secures €350 million from EBRD and EU for transport upgrade
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Montenegro has secured €The EBRD will provide a loan of up to €200 million to finance the construction of the Matesevo-Andrijevica section of the highway connecting the Adriatic port of Bar with the Serbian border, while the EU will contribute two investment grants totalling €150 million.Johann Sattler, the EU ambassador to Montenegro, said the grants represented the bloc's clear message of support towards Montenegro's efforts on its path to EU integration.The 22-km long stretch of highway passes through challenging terrain, and will connect Montenegro's underdeveloped north with the more economically active centre and south.The EU has already provided a €4.7 million grant for a feasibility study for the Bar-Boljare highway under the Western Balkans Investment Framework. The project constitutes an integral part of the Trans-European Transport Networks "Modern and reliable transport infrastructure is essential for Montenegro's economic development, especially in boosting tourism, trade, and regional integration," said Matteo Colangeli, EBRD Regional Director for Western Balkans.The EU's Sattler added that the bloc had provided more than €350 million in grants for transport projects in Montenegro in recent years.The EU launched accession talks with Montenegro in 2012 and since then 33 out of a total 35 chapters of negotiations - areas in which the candidate needs to emulate EU laws - have been opened and three provisionally completed.
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Indian Express
an hour ago
- Indian Express
Despite Donald Trump's latest salvo, India-US mini deal is by no means dead
Two decades ago, the idea of a trade deal between India and the US seemed pure fantasy. After all, the divide between the two on tariffs, standards and double standards, to be mischievous, seemed irreconcilable. Two decades, however, is a significant period in economic development — and an eternity in politics. Today, change is so rapid that what looked impractical just yesterday appeared to be within the realm of possibility. Or so it seemed. How did we even get here? India's recent shift in trade diplomacy, moving from a cautious approach to actively pursuing free trade agreements, reflects a strategic imperative to diversify trade partnerships and enhance its position in global supply chains. It is also a reflection of the need to explore alternatives to trade liberalisation, albeit guardedly, to the multilateral system, currently in an extended coma. This pivot is therefore driven by self-interest, the desire to expand exports, attract investment and counter potential geopolitical headwinds. For President Donald Trump, trade diplomacy is the equivalent of levying punitive import tariffs on those countries that he believes have free-ridden on the open US market for decades. The script aimed at the MAGA constituency is irresistible: Use tariffs as a negotiating tool to extract concessions from 'errant' trading partners, bump up government revenues, reduce, or better, eliminate trade deficits and bring manufacturing back home to America. The fact that none of this, except strong-arming the EU, Japan, Vietnam, Indonesia, South Korea and perhaps India into concessions, will work does not restrain the President and his advisors for too long and need not detain us either. Trade deficits and limited but key manufacturing are manifestations of structural features of the US economy, but let that be a topic for another day. For now, POTUS has announced a significant hardening of the trade stance against India, declaring a 25 per cent tariff on Indian exports effective August 1. The mini trade deal between India and US that was to be agreed upon after being deferred to August 1 is deferred again, but hopefully not abandoned. The 25 per cent threat, almost the same as the unenforced April 2 'Liberation Day' tariff of 26 per cent, is accompanied by an additional, as-yet-unspecified 'penalty' for India's continued substantial purchases of crude oil and defence equipment from Russia. The official justifications are India's 'far too high' tariffs, its 'most strenuous and obnoxious non-monetary trade barriers', and its strong energy and military ties with Russia. The fact that the President described India as a 'friend' in the same breath softens the blow, leaving the door ajar for further negotiations, but does nothing to alleviate his transactional nature, disregarding the harsh asymmetries in levels of development between India and the US. Thus, restoring the Generalised System of Preferences (GSP) under which India gets non-reciprocal, duty-free treatment for several products to push development, while on the negotiating table, looks improbable even if US per capita income at $90,000 is 30 times that of India. Even if it were on the table, it is unlikely to have been a sticking point. A fallout of that is a dubious but de facto acknowledgement of the blunt narrative that India is the fastest-growing emerging market and soon to be fourth-largest global economy. In private, I think all negotiators will admit it is not a match of equals. In the parlance of golf, a handicap such as the GSP is justified. What, then, could have been the sticking point? Perhaps agriculture and dairy. It is no secret that US lobbies are looking to sell more cheese, milk, maize, soy, corn, and other similar GM products. Throw in nuts and some fruits and you have the makings of a potential disruptor to the vast agriculture, including the dairy sector, in India, that accounts for roughly 45 per cent of employment. For India, this has been a red line due to the overwhelming number of small farmers, not to speak of potentially damaging political consequences. Allowing highly subsidised US farm produce would spell political disaster. Especially, when the government has had to face severe criticism on the unsuccessful doubling of farmer income policy. Besides, the infamous farm laws had to be withdrawn and farmer protests managed. In this background, even a nuanced and limited opening of agriculture that protects small farmer interest, as some have argued, would fall prey to a carefully constructed narrative of the deal being anti-farmer, and therefore, against national interest. For this reason, India has maintained this stance in recent FTAs with Australia and the UK. The US negotiators perhaps already know this only too well. President Trump's latest salvo is no doubt a negotiating strategy, buoyed in part by the success of similar threats to other countries. For example, the US signed a significant agreement in July with the European Union (EU), where the EU agreed to a 15 per cent tariff on most European goods, down from a threatened 30 per cent. Ditto for Vietnam (from 46 per cent to 20 per cent), Indonesia (from 32 per cent to 19 per cent) and Japan (from 25 per cent to 15 per cent). Some of these countries are our competitors for labour-intensive products such as jewellery, textiles, footwear, leather, toys and handicrafts and will have cheaper access into the US market, at least for now. Coercion has been defined as success in the US and countries have caved in to mitigate the risk of even greater economic disruption to their economies. India might be willing to give concessions in areas like data localisation requirements, digital services taxes and even digital trade rules. It should be noted that India abolished the Equalisation Levy, aka the 'Google Tax', in 2024. It was a tax measure on digital transactions by non-resident companies earning revenue from users in India without a physical presence. Agriculture, however, is a different kettle of fish. What a difference a few weeks has made. From being 'very close' to being completed, the India-US mini deal hangs in the balance, although it is by no means dead. Scarlett O'Hara's line from Gone with the Wind — 'tomorrow is another day' — captures the enduring optimism, but in the present, it reflects a capricious and fragile global state in which uncertainty reigns supreme and the exercise of discretion is a crafty manifestation of power. The writer is dean, School of Humanities and Social Sciences, and professor of Economics at Shiv Nadar University. Views are personal


News18
4 hours ago
- News18
Europe Made Travel Easier: Schengen Visa To Go Fully Digital, What It Means For Indians
Last Updated: The new rules will make Schengen visa process fully digital. That means no more physical visa stickers in passports and no more long queues at consulates to submit paper forms For millions of Indians, the process of securing a Schengen visa has long been a necessary — but often tedious — part of planning a European holiday or business trip. But that's about to change. The European Union has officially announced that the Schengen visa system will go fully digital, making visa applications easier, faster, and more secure. Here's everything you need to know about the digital Schengen visa rollout, how it works, and what it means for Indian travellers heading to Europe. What Is A Schengen Visa? The Schengen visa is a short-term visa that allows non-EU nationals to travel across 29 European countries (as of 2024) without needing separate visas for each. This includes popular destinations like France, Germany, Italy, Spain, the Netherlands, and Switzerland. In 2023 alone, Indians filed over 600,000 applications for Schengen visas, with the highest number going to countries like France and Germany. What's Changing? Under the new rules approved by the European Council and set to be implemented by 2026, the Schengen visa process will become completely digital. That means no more physical visa stickers in your passport and no more long queues at consulates just to submit paper forms. The only exception will be first-time applicants or those with expired biometric data (more than five years old). They will still need to visit a consulate or visa application centre to submit fingerprints and get their photo taken. For repeat travellers, the entire process could become 100% virtual. Why Is The EU Going Digital? There are several reasons behind this major shift: Efficiency: The new system will drastically cut down processing times and reduce errors caused by manual handling. Security: A digital system helps prevent fraud and misuse of visa stickers, which can be forged or altered. Convenience: Travellers can apply from anywhere, eliminating the need to visit embassies or third-party visa centres for every trip. Cost Savings: Governments and applicants alike will benefit from streamlined operations and fewer administrative bottlenecks. How Will The New Digital Schengen Visa Work? Once the platform is live, Indian applicants will go through the following steps: Create an Account on the EU Visa Portal: Enter personal details, travel history, and upload necessary documents (passport, itinerary, proof of accommodation, insurance, etc.) Select The Destination Country: If you are visiting multiple Schengen countries, you must apply to the one where you'll spend the most time. Pay the Visa Fee Online: Currently, the Schengen visa fee is €80 for adults and €40 for minors. The amount remains unchanged for now. Submit Biometric Data (If Required): First-timers must still visit the visa application centre for fingerprints and a photograph. Once submitted, the biometrics remain valid for five years. What This Means For Indian Travellers For Indian citizens — especially frequent flyers, business professionals, and holidaymakers — this is welcome news. Last year, nearly 3 crore Indian nationals went to foreign countries, an 8% increase from 2023 that saw a 29% year-on-year jump to 2.79 crore, crossing the pre-pandemic peak of 2.69 crore that was achieved in 2019, as per Ministry of Tourism data. In the first two months of 2025, 50.9 lakh Indians travelled abroad, up 6% from the corresponding period last year, tourism ministry data showed. Europe continues to be the top travel destination for Indians, with Switzerland, France, Austria, Germany leading the pack, and Eastern European countries like Czech Republic, Hungary, and Croatia gaining popularity, the report said. Currently, the visa process involves collecting multiple documents, physically submitting them to VFS or consular offices, and waiting weeks for updates. The digitisation will: Avoid issues like misplaced passports or delayed courier returns However, Indian travellers must still meet all the existing requirements: sufficient financial proof, confirmed return tickets, travel insurance, and a genuine purpose of travel. Will Visa Rejections Still Happen? Yes. A digital system does not mean relaxed rules. Visa officers will still assess the credibility of each application. Currently, Indian applicants face rejection rates between 15% and 25%, depending on the country. Strong documentation and financial clarity will still be critical. That said, digital processing could help avoid rejections caused by administrative errors or missing forms — a common complaint with physical submissions. When Will This Be Implemented? The European Commission has stated that the digital Schengen visa platform will be ready for rollout by 2026. This gives time for IT infrastructure to be built, personnel to be trained, and countries to harmonise their visa policies on the new platform. Some pilot programmes may begin as early as late 2025, particularly in high-volume countries like India, China, and Turkey. Could This Mean Easier Visas In The Future? Digitisation could open the door to multi-entry and longer-validity visas for travellers from trusted countries like India. Already, several EU nations are pushing for 'trusted traveller" programmes that would offer 3- or 5-year visas to applicants with a clean travel history. A digital system makes it easier to track, monitor, and reward such applicants. There is also potential for integration with India's own digital platforms (like DigiLocker) to allow for faster documentation verification. The move to a fully digital Schengen visa system marks a major shift in how Europe manages its borders — and how Indian travellers plan their trips. While challenges remain around biometric verification and high rejection rates, the digitalisation promises faster service, greater transparency, and fewer logistical headaches. For Indian students, professionals, and families dreaming of strolling through Paris, skiing in the Alps, or closing deals in Berlin, the future just got a little easier — and more digital. top videos View all About the Author Shilpy Bisht Shilpy Bisht, Deputy News Editor at News18, writes and edits national, world and business stories. She started off as a print journalist, and then transitioned to online, in her 12 years of experience. Her More tags : Europe Indian Passport Schengen Visa view comments Location : New Delhi, India, India First Published: August 01, 2025, 12:32 IST News zip Europe Made Travel Easier: Schengen Visa To Go Fully Digital, What It Means For Indians 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.


Deccan Herald
5 hours ago
- Deccan Herald
EU and China: A growing rift
There was speculation that tensions within the transatlantic alliance might prompt China to adopt a more conciliatory stance towards Europe. However, Beijing has taken a more assertive posture, repurposing tools initially designed for leverage in the US-China trade dispute to exert pressure on the EU instead.