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The Wire
6 days ago
- Business
- The Wire
Modi's 'Act East Policy' Requires Him to In Fact 'Act' at Home
Modi will find it difficult to commit to a trade deal with a maverick and unpredictable US President without exposing himself to criticism at home. Anybody who knows anything about the way politics works in this country would have known that US president Donald Trump's 9 July deadline for a US –India free trade agreement was unrealistic. While Union commerce minister Piyush Goyal and his officials have logged many flying miles travelling between New Delhi and Washington DC, it was only inevitable that in the end Mr. Goyal would say that India does not make trade deals based on deadlines. It would do so only on the basis of the national interest. While a deal may yet be struck at the eleventh hour and Mr. Goyal's tactics may pay off, it will be a politically risky gamble given that the Monsoon Session of Parliament is just two weeks away. Prime Minister Narendra Modi will find it difficult to commit to a trade deal with a maverick and unpredictable US president without exposing himself to criticism at home. While President Trump has promised a 'win-win' deal, he is now known to interpret every deal as a win for his 'America First' strategy. However balanced a trade deal might be between India and the US, in the competition between Mr. Trump's 'America First' and Mr. Modi's 'India First', the political Opposition in India would have enough to go to town accusing the Modi government of once again 'surrendering' to President Trump's diktat. Just as the BJP opposed trade deals signed by the Manmohan Singh government, the Congress and Left parties would oppose whatever deal India strikes with the United States, especially in the present context. The context is important. The Modi government is still pushing back on criticism that it agreed to a ceasefire with Pakistan under pressure from President Trump. It can ill afford to be seen as buckling under pressure on the trade front. The stakes are high. It is not just the criticism from the political Opposition that would worry the Modi government but, even more so, the criticism from within its own support ranks. Even on trade policy, there are as many protectionist hawks within the Sangh Parivar as there are in the Opposition. Given the difficulties associated with declaring victory on a trade deal with the United States, the Modi government had no option but to place the trade negotiations on the back burner. There can be no movement forward until the Monsoon Session of Parliament is over. A larger challenge stares India's trade negotiators in the face. Ever since the early 1990s, when India opted to enter into a multilateral trade agreement, the government has zealously defended the country's status as a developing economy. India signed on to the membership of the World Trade Organisation after being assured that, along with other developing economies, it would receive 'special and differential treatment' (SDT). India remains a protectionist economy by Asian standards. There was a time, during the tenures of the Atal Bihari Vajpayee and the Manmohan Singh governments, when India would declare that the objective of its trade policy was to bring India's tariffs down to 'ASEAN levels'. This objective has never been restated by the Narendra Modi government, which has in fact raised tariff barriers across many product lines over the past decade. India's trade partners have been protesting all along, and in President Donald Trump they have found a strong advocate of their grievances. There is, therefore, a two-fold problem for Prime Minister Modi with respect to trade and tariff policy. On the one hand, he remains under pressure from within the ranks of the Sangh Parivar to stick to a more protectionist stance. There are many reasons put forward to justify this. On the other hand, the world outside says that if India is indeed in its 'Amrit Kaal' and is the world's fourth or third largest economy and on its way to becoming 'Viksit Bharat' and is a 'rising power', a 'leading power', and so on and so forth, then why behave like a low-middle-income developing economy seeking 'special and differential' treatment? The argument for protecting the agrarian economy and the interests of farmers stands on an altogether different foundation. The highly developed economies of Europe and Japan have defended trade protectionism in agriculture on cultural, social and political grounds. The protection of farmers and the farming economy and the cultivation of local varieties of various products is a legitimate policy objective. India stands on firm ground in rejecting an open-ended policy of trade liberalisation in agriculture. If the United States continues to insist on this front, the Modi government will have no option but to reject and resist all pressure. Neither India nor Japan can agree to trade liberalisation in farm produce without risking a domestic political backlash. The protectionist argument in the case of manufactured goods is, however, much weaker. A policy option that can be pursued would be for the government to come out with a timetable for trade liberalisation and tariff reduction, setting firm dates for sectors, and gradually allowing the rupee to depreciate to partly compensate for tariff cuts. This would be in tandem with the earlier and oft-repeated promise of bringing Indian tariffs 'down to ASEAN levels'. This is a long-stated goal and is one that should be implemented. Rather than berate the ASEAN countries and call them the 'B-team' of China, as Mr Goyal has ill-advisedly done, it is time India caught up with ASEAN on the trade and manufacturing fronts. It may be recalled that India's trade and industrial policy liberalisation began in the early 1990s inspired by the experience of ASEAN. It was after his visit to Malaysia that the then prime minister Vishwanath Pratap Singh tasked an official in the Prime Minister's Office, Montek Singh Ahluwalia, to come up with a roadmap that would enable India to catch up with Malaysia. Mr Ahluwalia's 'M Paper' was the result and formed the basis of Prime Minister P. V. Narasimha Rao's trade and industrial policy. The time has come again for India to 'catch up' with East and Southeast Asia as far as trade and industrial policies are concerned. Mr Modi's 'Act East Policy' requires him to in fact act at home. This article was originally published in Deccan Chronicle. It has been lightly edited for style. 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Business Standard
01-07-2025
- Business
- Business Standard
China ready to discuss trade tariffs and subsidies with US at WTO
Following positive trade talks in Geneva and London, China indicated openness towards discussing tariffs within the WTO Reuters GENEVA China is ready to have discussions about trade policies, including tariffs and subsidies, that Washington has identified as obstacles to reforming the World Trade Organization, a senior delegate at China's mission to the WTO said. China had heard "every word" the US had said at the WTO about its trade practices and is open to discussing tariffs, industrial policy and some benefits it gains from its developing country status, as part of broader conversations on reform ahead of a 2026 ministerial meeting in Cameroon, the delegate said. The official declined to be identified. China's mission does not publicly identify delegates below ambassador rank. China recalled its WTO ambassador in April to become a trade negotiator and the vacant position has yet to be filled. Washington argues there can be no meaningful WTO reform until China and other major economies relinquish privileges known as Special and Differential Treatment (SDT) granted to developing countries, which the US says give them an unfair advantage. Some major economies, including China and Saudi Arabia, self-identify as developing countries, granting them access to SDT benefits such as setting higher tariffs and using subsidies. The delegate said China's developing country status was non-negotiable, but it might forgo SDT in upcoming negotiations, as it did recently on fisheries and domestic regulations. "I see that in the coming negotiations, generally speaking, I don't think China will ask for the SDT," the delegate told Reuters. However, former WTO spokesperson Keith M. Rockwell, a senior research fellow at the Hinrich Foundation, was sceptical that China would fully relinquish SDT in areas like agriculture. The US opposes countries picking and choosing SDT benefits, and wants China to completely renounce them. The delegate said China was open to discussing subsidies to ensure a fairer playing field provided it was met with goodwill in return. But it would not accept any attempts to try to change its economic system, they added. Following positive trade talks in Geneva and London, China indicated openness towards discussing tariffs within the WTO. "We welcome the US to come back to the WTO," the delegate said. "We are ready to renegotiate on Article 28 if the US raises their requests here at the WTO." Article 28 of the WTO Agreement allows members to modify tariff commitments under certain conditions, providing a potential pathway for adjustments.
Yahoo
01-07-2025
- Business
- Yahoo
China ready to discuss tariffs and subsidies with US at WTO
By Olivia Le Poidevin GENEVA (Reuters) -China is ready to have discussions about trade policies, including tariffs and subsidies, that Washington has identified as obstacles to reforming the World Trade Organization, a senior delegate at China's mission to the WTO said. China had heard "every word" the U.S. had said at the WTO about its trade practices and is open to discussing tariffs, industrial policy and some benefits it gains from its developing country status, as part of broader conversations on reform ahead of a 2026 ministerial meeting in Cameroon, the delegate said. The official declined to be identified. China's mission does not publicly identify delegates below ambassador rank. China recalled its WTO ambassador in April to become a trade negotiator and the vacant position has yet to be filled. The delegate's remarks follow months of trade tension between the world's two largest economies over sweeping tariffs imposed by the U.S. and retaliatory measures by China. Washington argues there can be no meaningful WTO reform until China and other major economies relinquish privileges known as Special and Differential Treatment (SDT) granted to developing countries, which the U.S. says give them an unfair advantage. Some major economies, including China and Saudi Arabia, self-identify as developing countries, granting them access to SDT benefits such as setting higher tariffs and using subsidies. The delegate said China's developing country status was non-negotiable, but it might forgo SDT in upcoming negotiations, as it did recently on fisheries and domestic regulations. "I see that in the coming negotiations, generally speaking, I don't think China will ask for the SDT," the delegate told Reuters. However, former WTO spokesperson Keith M. Rockwell, a senior research fellow at the Hinrich Foundation, was sceptical that China would fully relinquish SDT in areas like agriculture. The U.S. opposes countries picking and choosing SDT benefits, and wants China to completely renounce them. The delegate said China was open to discussing subsidies to ensure a fairer playing field provided it was met with goodwill in return. But it would not accept any attempts to try to change its economic system, they added. Following positive trade talks in Geneva and London, China indicated openness towards discussing tariffs within the WTO. "We welcome the U.S. to come back to the WTO," the delegate said. "We are ready to renegotiate on Article 28 if the U.S. raises their requests here at the WTO." Article 28 of the WTO Agreement allows members to modify tariff commitments under certain conditions, providing a potential pathway for adjustments. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
18-06-2025
- Entertainment
- Time of India
BTS in the Military: From Taehyung's special forces role to Jin's Elite Drill instructor title — A look at their service journey
The final member of BTS, SUGA, is set to be discharged on June 21, 2025. Now all seven members of the global sensation will officially return to civilian life, completing their mandatory military service. Tired of too many ads? go ad free now Over the past two years, the BTS members undertook various roles in the South Korean military, each earning praise for discipline, leadership, and excellence. Taehyung and Jin Lead with Honors and Strength According to the SportsKeeda, V (Kim Taehyung) was trained under the Special Duty Team (SDT) of the Military Police, an elite counter-terrorism unit. Despite training with a cracked rib, he rose through the ranks and was promoted to sergeant. He earned distinctions including Platoon Leader, Special Warrior, and Exemplary Shooter, titles awarded only to the most exceptional soldiers. Jin (Kim Seok-jin), the first to enlist, topped his basic training and served as a Company Commander Trainee before becoming an Assistant Drill Instructor in the 5th Infantry Division. He was promoted early and named a Special Warrior. J-Hope, Jimin, RM, and Jungkook Shine in Varied Roles J-Hope (Jung Ho-seok) also served as an Assistant Drill Instructor and received Special Warrior honors. He won the Strong Warrior Speech Contest. Jimin (Park Ji-min) won the Best Trainee Award during basic training and was deployed to an Artillery Fire Direction Center. He later became a Squad Leader and earned the Special Grade Soldier title for his outstanding performance in strength, shooting, and leadership. RM (Kim Nam-joon) served in the Military Band and as a Chaplain Assistant, providing both musical performances and moral support. Tired of too many ads? go ad free now He was promoted quickly and ultimately held the position of Platoon Leader, earning Elite Trainee status. Jungkook (Jeon Jung-kook) undertook the demanding role of Lead Cook Soldier, preparing meals for hundreds daily. Jungkook got an early promotion to sergeant. SUGA Completes Service via Public Role SUGA (Min Yoon-gi) who was unable to serve active duty due to a shoulder injury, fulfilled his obligation as a Public Service Worker. Despite the different nature of his role, his commitment was equally appreciated. He will be officially discharged on June 21, 2025. Finally this marks the complete return of BTS to the public stage. BTS RM's Emotional Letter on 12th Anniversary Moves Fans Worldwide
Pink Villa
17-06-2025
- Entertainment
- Pink Villa
BTS' V gains 864K Instagram followers, Jungkook earns 200K on TikTok post discharge, fans ‘not surprised' by popularity
Just days after their return from mandatory military service, BTS' V and Jungkook are already proving their unstoppable global influence. While fans were celebrating their long-awaited return, the two idols began making headlines. They dominated social media platforms with overwhelming numbers, despite not releasing any new music or content yet. V becomes most-followed K-pop male idol on Instagram Kim Taehyung, better known by his stage name V, was officially discharged from military service on June 10, 2025. He served as a sergeant in the Special Duty Team (SDT) under the 2nd Corps Military Police in Chuncheon. Just six days later, on June 16, he made history online. According to updated figures, V gained 864,000 new followers on Instagram in a single week, pushing his follower count to 67.7 million. This staggering milestone has crowned him as the most-followed K-pop act on the platform this week. Fans around the world praise V's sustained influence and public appeal even after nearly 18 months out of the spotlight. Jungkook reigns over TikTok and YouTube While Taehyung rules Instagram, fellow BTS member Jungkook is proving to be an undeniable force on other platforms. He doesn't operate a personal Instagram account and only manages one for his dog Bam. Since his discharge on June 11, the golden maknae's popularity has skyrocketed again, particularly on TikTok and YouTube. He gained over 200,000 new followers on TikTok within days of returning to civilian life. As of now, his account boasts an impressive 21.7 million followers. This makes him one of the most-followed Korean solo acts on the platform. But the buzz doesn't stop there. Jungkook's YouTube content has seen a major spike in daily views, reaching over 3.1 million. Netizens and fans alike were quick to note that this number surpasses many active idol groups. Military service recap V enlisted on December 11, 2023, and served his term in one of the most prestigious and physically demanding military units: the SDT. He completed his duties with distinction and left his post as a respected sergeant. Jungkook entered service one day later on December 12, 2023, enlisting alongside fellow member Jimin under the 'companion enlistment program'. The pair served together in the 5th Infantry Division. Now that both members have completed their duties, anticipation is building for what lies ahead. Jin, J-Hope, RM, Jimin, and V are already discharged and SUGA is set to complete his alternative service on June 21. BIGHIT MUSIC has yet to announce specific comeback plans for BTS as a full group. Whether it's individual activities or a long-anticipated OT7 comeback, one thing is certain: BTS is returning to an industry that missed them dearly, and the fans are ready to welcome them back with open arms.
