New Delhi, July 9 (IANS) India, the world’s fastest growing economy, has gained increasing importance among Western countries amid the drastic changes in the global landscape triggered by Donald Trump taking over as US President, China’s increasing alienation and the continuing Ukraine-Russia war, according to a new report.The India-EU free trade agreement (FTA) reflects this change as Europe looks to diversify its markets, fortify its supply chains and find reliable strategic partners. Howe…
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Washington, July 9 (IANS) India and the European Union plan to intensify cooperation on reforming the World Trade Organization (WTO), with both sides saying their newly concluded free trade agreement has created a stronger platform to jointly pursue changes to the global trading body amid growing uncertainty in international commerce. Senior trade negotiators from India and the European Commission said the issue will feature prominently during the next meeting of the India-EU Trade and Technolog…
Washington, July 9 (IANS) Fresh from concluding its landmark free trade agreement with the European Union, India is pursuing an ambitious strategy to expand its network of trade agreements across North America, Latin America, Africa and the Gulf, with negotiations already underway or planned with several major economies, the country’s chief trade negotiator has said.Speaking at an event hosted by the Peterson Institute for International Economics, Darpan Jain, India’s Chief Negotiator for the EU…
Washington, July 9 (IANS) The European Union has rejected suggestions that shifting US trade policies under President Donald Trump drove the conclusion of its landmark free trade agreement with India, saying the pact was the result of years of political commitment and a shared strategic vision rather than short-term geopolitical developments.The remarks came after Christophe Kiener, the European Union’s chief negotiator for the agreement, on Wednesday (local time) pushed back against a suggestio…
Washington, July 8 (IANS) India’s chief negotiator for the landmark free trade agreement with the European Union on Wednesday described the pact as the country’s “most ambitious agreement” to date, saying it would significantly expand market access, strengthen rules-based trade and open new opportunities for labour-intensive industries, services and technology cooperation. Speaking at an event hosted by the Peterson Institute for International Economics, Darpan Jain, Chief Negotiator from India’…
Ankara, July 8 (IANS) President Donald Trump on Wednesday said a surge in NATO defence spending was fuelling a manufacturing boom in the United States, with European allies increasingly buying American-made weapons and major defence companies expanding production to meet unprecedented global demand. Addressing a news conference after the NATO summit in Ankara, Trump said alliance members had embraced a new benchmark of spending five per cent of gross domestic product on defence, creating what he…
Ankara, July 8 (IANS) US President Donald Trump on Wednesday accused several key NATO allies of refusing to support the United States during its military operation against Iran, saying their response left him disappointed despite decades of American security commitments to Europe. Speaking alongside NATO Secretary General Mark Rutte before a meeting of alliance leaders in Ankara, Trump said the alliance had failed an important test when Washington sought support against what he called “the numbe…
United Nations, July 8 (IANS) Astutely navigating the shoals of global economic uncertainties, India is holding on to its crown as the world’s fastest-growing major economy with the International Monetary Fund (IMF) projecting it to grow at 7 per cent during the current calendar year.The World Economic Outlook (WEO) Update released on Wednesday projected India’s gross domestic product to moderate in the next calendar year to 6.4 per cent.The Indian economy’s projected performance is “suppo…
Bratislava, July 8 (IANS) India’s Ambassador to Slovakia, Apoorva Srivastava, held a meeting with Slovakia’s Minister of Foreign and European Affairs Juraj Blanar on Wednesday and expressed India’s commitment to further advance the bilateral partnership. “Ambassador Apoorva Srivastava paid a farewell call on H.E. Juraj Blanar, Minister of Foreign and European Affairs of the Slovak Republic. She conveyed her heartfelt appreciation for his cooperation and support during her tenure as the Ambassado…
Washington, July 8 (IANS) The United States recorded a $4.1 billion goods trade deficit with India in May, according to official data released on Tuesday, as America’s overall trade deficit widened sharply amid falling exports and rising imports.The figures also highlighted India’s place in the broader Asian supply chain, with the US trade gap with India remaining significantly smaller than those with several other major manufacturing hubs in the region.The latest data from the US Census Bureau …