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Time of India
4 days ago
- Business
- Time of India
India-US trade deal: India treads cautiously after Trump's trade agreements with Japan, others face challenges - here's what's happening
India-US trade deal: India would prioritise national interests over meeting deadlines in trade negotiations. (AI image) India-US trade deal: India is exercising caution in its trade negotiations with the US. This careful approach stems from complications in America's recent agreement with Japan, alongside ongoing difficulties in finalising deals announced by President Donald Trump with Indonesia and Vietnam. On Saturday, Commerce and Industry Minister Piyush Goyal indicated that bilateral trade agreement discussions with the US and Oman have progressed significantly. He announced that US negotiators would visit India in the latter half of August to advance these discussions. Goyal also emphasised that India would prioritise national interests over meeting deadlines in trade negotiations, indicating the government's commitment to securing beneficial terms. Trump's self-imposed tariff deadline is August 1, after which countries that don't reach trade deals with the US will likely be hit with high tariff rates. Trump has over the last few weeks sent tariff letters to many countries, though notably India is absent from this list. Trump has also indicated that the US is nearing a trade deal with India. Also Read | Donald Trump tariffs: Will the August 1 deadline by extended by US President? What Commerce Secretary Lutnick said US-Japan Trade Deal Lesson for India According to an ET report, the Japanese-American trade agreement appears to have been hit by disagreements over its terms, with Japanese and US interpretations showing significant differences. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo This has caused extra caution from India's end in terms of trade negotiations, the report said. While US officials assert that Japan has pledged investments in America with local taxpayers receiving ninety per cent of profits, Japanese representatives maintain that no formal written agreement exists. A statement from a Japanese official last week clarified their position on the $550-billion investment package, indicating an expectation that profit distribution between both nations would be proportional to their respective contributions. This stance directly conflicts with Trump's assertion that Japan would independently shoulder the investment costs whilst the US receives 90% of the returns. Also Read | 'Confident India will get special treatment…': Piyush Goyal says trade deal talks with US making 'fantastic' progress; 'important to…' Trump made a unilateral announcement about a trade agreement with Indonesia after speaking with President Prabowo Subianto, though the agreement had been unsigned. On July 22, Indonesia's lead negotiator and coordinating minister for economic affairs, Airlangga Hartarto, alongside US Trade Representative Jamieson Greer, released a joint communiqué detailing the agreement's structure and specifying import duty rates. The declaration had details regarding non-tariff protocols and business arrangements, with both parties committing to ongoing discussions for finalising the agreement. "Yet, the risk of a policy setback remains high if the political agreement is not turned into a legal instrument," according to a commentary by Iis Gindarsah, a visiting senior fellow specialising in Indonesia at the S Rajaratnam School of International Studies (RSIS) in Singapore. In the interim, Vietnam has not formally validated the duty rates declared by Trump as a component of a two-sided agreement, sources indicate. Hanoi is concerned that its US-bound shipments could decrease by 33% if Trump's announced higher tariffs are implemented. According to official statistics, Vietnam's aggregate exports to the US reached $120 billion in the previous year. "Tariffs of 20% to 40% would slash export revenue by up to $37 billion, and hit the majority of Vietnam's key industries, including electronics, machinery, garments, footwear and furniture," a recent Bloomberg report said. Also Read | Donald Trump's aggressive trade moves: US President indicates he won't go below 15% tariff rate; 'we'll have a straight…' Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
4 days ago
- Politics
- Time of India
‘Wants power at any cost': BJP hits back at Rahul Gandhi's remarks on Election Commission; alleges ‘Emergency mindset' still prevails
File photo: Congress MP Rahul Gandhi and BJP MP Sudhanshu Trivedi (Picture credit: ANI, PTI) NEW DELHI: BJP MP Sudhanshu Trivedi on Sunday slammed Congress leader Rahul Gandhi for his repeated criticism of the Election Commission, accusing him of carrying forward the same ideology that existed during the Emergency. Trivedi said Rahul's statements echo the 'Emergency mindset" of former Prime Minister Indira Gandhi, who believed elections were valid only if she won them. Speaking to reporters, Trivedi said, 'Fifty years ago, Indira Gandhi said the credibility of elections would be proven by her victory. Now Rahul Gandhi says the same thing. The continuous attacks by Rahul Gandhi on the Election Commission show that even five decades later, the ideology has not changed.' As per news agency ANI, Trivedi questioned Gandhi's inconsistent stance, asking, 'Did the Election Commission do a good job in Punjab and Jammu & Kashmir, and a bad job in Haryana? According to him, EC's work is good wherever Congress wins and flawed where they lose.' Rahul Gandhi had recently alleged electoral malpractice, claiming his party had '100 per cent proof' that elections were manipulated in a Karnataka constituency. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo A day earlier, he had alleged elections in India were being 'stolen' and said the Congress had understood how this was being done. The row coincides with the Special Intensive Revision (SIR) of electoral rolls currently underway in Bihar. The opposition INDIA bloc has expressed concern that the exercise might lead to mass voter deletions. As per the data released by Election Commission, around 65 lakh electors in Bihar were either deceased, permanently shifted, untraceable or found to be registered at multiple locations. As per news agency PTI, Meira Kumar, former Lok Sabha Speaker and Congress leader, urged the Election Commission to maintain public trust. 'The Constitution has given the EC the responsibility to conduct free and fair elections in a way that builds complete trust among citizens,' she said. Trivedi, while defending the EC, accused the INDIA bloc of undermining democracy. He said, 'They've been winning in areas where demographic changes occurred due to infiltration. Now, with transparency being brought into the rolls, they are protesting.' He further warned that Rahul Gandhi 'wants power at any cost' and likened his stance to that of Indira Gandhi during the Emergency. Trivedi added that the issue goes beyond politics, saying it is about national security and institutional credibility. He also linked the controversy to a broader political shift, saying that under PM Modi's leadership, the BJP and the NDA are gaining momentum across the country.
Time of India
20-07-2025
- Business
- Time of India
MRPL to offer Rs 80 lakh per acre for acquisition of land
Mangaluru: A decision has been taken to provide suitable compensation to those displaced by the acquisition of 27 acres for the proposed green zone project by Mangalore Refinery and Petrochemicals Limited (MRPL). The decision was made during a meeting chaired by Dakshina Kannada MP Brijesh Chowta at the DC's office on Saturday. MRPL submitted a proposal to the district administration to offer compensation of Rs 80 lakh per acre, along with Rs 20 lakh in cash and a plot of land for each family instead of employment. The MP said this longstanding issue must be resolved satisfactorily for everyone. The severity of the displaced people's problem is understood, and a good package must be provided, he said. There are 408 door numbers on 27 acres, and according to the survey, land acquisition and other expenses might amount to Rs 93.9 crore, as reported by the Karnataka Polytechnic (KPT) that conducted the survey. Deputy commissioner Darshan HV said that a final decision on the package submitted by MRPL will be made soon. The 27 acres to be acquired fall within the jurisdiction of Jokatte, Bala gram panchayats, and Bajpe Town panchayat, and the DC instructed that no new door numbers should be issued in these areas. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo Moodbidri MLA Umanath Kotian, MRPL MD Mundkur Shyamprasad Kamath, officials of the Karnataka Industrial Area Development Board (KIADB), and leaders of the displaced, including Muneer Katipalla, among others, were present. MRPL records decline in profits The MRPL reported a net loss of Rs 272 crore for the first quarter of the 2025–26 financial year, a sharp decline from a net profit of Rs 66 crore during the same period last year. The board of directors approved the standalone and consolidated financial results for Q1 on Friday. Revenue from operations fell to Rs 20,988 crore, down from Rs 27,289 crore in Q1 of 2024–25. The company's gross refining margin (GRM) also declined to $3.8 per barrel from $4.7 per barrel in the corresponding quarter last year. Total throughput at the refinery dropped to 3.5 million tonnes (MT), compared to 4.3 MT in the same period last year. However, MRPL recorded its highest-ever crude processing in a single month, with 1,512 thousand metric tonnes (TMT) processed in April 2025—surpassing the previous record of 1,481 TMT in April 2022. A company release said the major units in the phase-2 complex were shut down for maintenance during the quarter.
Time of India
02-05-2025
- Politics
- Time of India
NDA netas counter RJD on caste census
Patna: The ruling BJP and JD(U) have dismissed opposition claims that PM Narendra Modi yielded to political pressure in announcing a caste-based enumeration alongside the upcoming national census. BJP leader and deputy CM Samrat Choudhary criticised the Congress for attempting to take credit for the decision. "Congress, which now claims victory, had opposed the caste census and reservation from the Nehru era through to the Manmohan Singh govt. Congress remembered caste census only after being kicked out of power in 2014," he said. JD(U) senior leader and parliamentary affairs minister Vijay Kumar Choudhary responded to RJD leader Tejashwi Prasad Yadav's comment that the caste census is "just the beginning" and that "the picture is not complete yet (picture abhi baaki hai)." "RJD and Congress are desperate to claim credit for the caste-based census decision," Choudhary said. "In 2019 and 2020, the Bihar assembly unanimously passed resolutions urging the Centre to conduct the 2021 census based on caste. At that time, it was the NDA govt in Bihar. It was also the NDA govt that led an all-party delegation to meet the PM. Again, it was under the NDA govt that the council of ministers decided in June 2022 to issue a notification for the caste survey. So how can the RJD and Congress now claim credit?" by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo He questioned why the UPA govt, in power from 2004 to 2014, failed to conduct a caste-based census in 2011. "Congress leader Rahul Gandhi does not understand that the Telangana method lacks the accuracy and authenticity of the caste survey conducted by the Nitish government in Bihar. The country is aware of this fact. RJD and Congress leaders should not be under any illusion," he added. Deputy CM Choudhary said the RSS and Union home minister Amit Shah had made it clear multiple times in September 2024 that both the organisation and the government supported a caste census. "BJP never opposed the caste census," he added. He pointed to the Congress's past stance, saying, "The real face of Congress was exposed when then Union Home Minister P. Chidambaram opposed including caste in the 2011 census, suggesting that castes be counted separately." Choudhary hailed the current decision as historic. "This is the first time since independence that a caste census will be conducted alongside the national census. I congratulate PM Modi for this landmark step," he said.
Time of India
02-05-2025
- General
- Time of India
Dakshina Kannada tops Karnataka in SSLC results with highest pass percentage
MANGALURU: Dakshina Kannada, often regarded as the educational hub of Karnataka, has secured the top position in the SSLC-1 examination results for the academic year 2024, with an impressive overall pass percentage of 91.12%. The results were officially announced on Friday. Climbing from second place last year, Dakshina Kannada has steadily improved its standing in the state over the past few years—rising from 21st place in 2022, to 17th in 2023, and now claiming the number one spot among 35 districts. Although no students from the district made it to the individual merit rank list, the district's overall performance has been hailed as a significant achievement. A total of 29,760 candidates appeared for the exam, including 28,446 fresh regular students from 521 high schools across government, aided, and unaided institutions. Of these, 14,735 were boys and 13,711 girls. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo Dakshina Kannada's success is attributed to proactive measures taken throughout the academic year. According to Govinda Madivala, deputy director of public instruction (DDPI), a series of coordinated initiatives with SDMCs (School Development and Monitoring Committees), local associations, and educators laid the groundwork for this year's success. Madivala stated, 'This achievement is the result of systematic planning and collaboration that began right from the start of the academic session.' Despite the absence of individual toppers, education officials and stakeholders in the region are celebrating the collective performance, crediting community involvement and focused academic support for the district's continued rise.
