&w=3840&q=100)
Hope US can complete major pending defence sales to India: Pete Hegseth
Press Trust of India New York/Washington
The US has expressed hope that it can complete several major pending American defence sales to India, as it stressed that Washington and Delhi are mutually aware of the security concerns in the Indo-Pacific region.
External Affairs Minister S Jaishankar met US Defence Secretary Pete Hegseth on Tuesday at the Pentagon and said he had a productive conversation on advancing the India-US defence partnership, building on growing convergences of interests, capabilities and responsibilities.
According to the Department of Defence (DoD) news article, Hegseth said the US and India are mutually aware of the security concerns in the region, and both nations have the ability to counter that threat together. Hegseth also touched on US efforts to provide India with the tools needed to counter threats in the Indo-Pacific region, the DoD news said.
"The United States is very pleased with the successful integration of many US defence items into India's inventory," Hegseth said, according to the DoD news article.
"And building on this progress, we hope we can complete several major pending US defence sales to India, expand our shared defence industrial cooperation and coproduction efforts, strengthen interoperability ... between our forces, and then formally sign a new 10-year Framework for the US-India Major Defence Partnership ... which we hope to do very soon." Jaishankar, in his opening remarks, said, We believe that our defence partnership is, today, truly one of the most consequential pillars of the relationship.
"It's not built merely on shared interest, but we believe really deepening convergence and of capabilities, of responsibilities and what we do in the Indo-Pacific, we believe, is absolutely crucial to its strategic stability," he said.
Jaishankar said that the world is a complicated place, perhaps growing in its complexity, and certainly our partnership and the contribution that we can make together, I think, would be of immense importance, not just for us, I think, but for the larger region, I would even argue for the world.
Hegseth said that almost right at the beginning of the administration, President [Donald] Trump and Prime Minister [Narendra] Modi set a strong foundation for our relationship, which we're building on here today: productive, pragmatic and realistic.
And our nations boast a rich and growing history of cooperation driven by a shared commitment to a free and open Indo-Pacific, Hegseth said.
According to DoD news, Hegseth and Jaishankar discussed participation in the next India-US Defence Acceleration Ecosystem Summit, where the two nations will continue to build on US-India defence industrial cooperation and produce new innovations in technology and manufacturing.
"We're eager to work alongside you to realise our shared goals," Hegseth said. "They're deep and ongoing."
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
30 minutes ago
- Time of India
‘America Party' launched: Musk hints at election plans; Can he run for president in 2028?
announced his new political outfit, the 'America Party,' on Saturday against the backdrop of a strained relationship and public fallout with US President Donald Trump, his former ally. Tired of too many ads? go ad free now The agenda of this new party is aimed at challenging the 'one-party system', which Musk calls 'formed to give you back your freedom'. The new announcement has sparked speculations about whether Musk would run for president in 2028 or who would be the other party leaders. Replying to X user who asked Musk about his election plans, 'Midterms or 2028?', to which he responded, 'Next year'. Under current constitutional rules, Musk is ineligible to seek the presidency. Article II, Section 1 of the US Constitution requires presidential candidates to be natural-born citizens, which legally disqualifies Musk from running for the nation's highest office. In 2024, Musk publicly acknowledged his ineligibility, stating, 'I cannot be president because of my African birth.' He also said at the time, 'My grandfather was American, but I was born in Africa, so I cannot be president.' While campaigning for the 2025 elections alongside Trump last year, Musk made his political ambitions clear when he said, ' I actually don't want to be president. I want to build rockets and cars.' Musk committed to working on government efficiency if Trump is re-elected. He said, 'I'm hoping that we get President Trump elected, and then I'll work hard on the Department of government efficiency.' Cut to July 4, when Musk posted a poll on his social media platform X asking users whether they wanted 'independence from the two-party (some would say uniparty) system.' The poll received over 1.2 million responses, with the majority voting in favour. Musk responded, 'By a factor of 2 to 1, you want a new political party and you shall have it!' He also posted a meme depicting a two-headed snake with the caption 'End the Uniparty,' indicating his push for an alternative to the traditional Democratic and Republican dominance in US politics.
Hans India
an hour ago
- Hans India
We negotiate from position of strength, not under deadlines
Bengaluru: With the Congress mocking the BJP-led NDA government over the proposed trade deal with the US, Union Minister Piyush Goyal on Saturday said India negotiates from a position of strength and not under deadlines. He also accused the Congress of 'negotiating and signing agreements that were not in the national interest' during the party-led UPA government's tenure. Leader of Opposition in the Lok Sabha, Rahul Gandhi, had attacked Prime Minister Narendra Modi over the Indo-US trade deal, claiming the PM will 'meekly bow' to the tariff deadline set by the President Trump administration. 'India does not negotiate under deadlines. We negotiate keeping national interest in mind, and national interest is paramount in all our engagements across the world,' Goyal, Commerce and Industry minister, told reporters here. 'After the Modi government came to power, we have signed free trade agreements with Mauritius, the United Arab Emirates, Australia, and the four-nation EFTA (European Free Trade Association) grouping—Switzerland, Norway, Iceland, and Liechtenstein—and now with the UK last month.' According to him, India continues to engage with other developed nations, including the EU bloc of 27 countries, the US, Oman, Peru, and Chile. 'Today, India negotiates from a position of strength. We are self-confident and can compete with anybody in the world. . This is not the weak India under Congress and the UPA, which signed agreements that were not in the national interest,' he claimed. Goyal had earlier stated that India would accept the proposed trade deal with the US only when it is fully finalised and in the national interest.
Mint
an hour ago
- Mint
Dalal Street week ahead: India-US trade deal, Q1 results among 5 key triggers for Indian stock market in coming week
Indian stock market ended in the negative territory for the week ended July 4, largely due to profit booking amid lingering uncertainty over the India-US trade deal, caution ahead of the start of the earnings season and foreign capital outflow. The Nifty 50 and the Sensex closed 0.70 per cent lower each for the week, snapping their two-week gaining streak. "The decline was primarily driven by profit-taking, as investors adopted a cautious stance ahead of key global trade events. Concerns around potential US trade retaliation created doubts about the timely finalisation of trade agreements with major economies, including India. However, the downside remained limited following reports of a likely interim deal between India and the US ahead of the scheduled deadline," said Ajit Mishra, SVP of research at Religare Broking. However, the mid and small-cap segments remained resilient. Extending gains to the second consecutive week, the Nifty Midcap 100 and the Nifty Smallcap 100 indices rose 0.50 per cent and 0.30 per cent, respectively. While the broader trend of the market remains positive, the coming week holds several key triggers, including India-US trade deals, Q1FY26 earnings and the minutes of the US FOMC's last meeting, that could dictate the short-term trend of the Indian stock market. Despite prolonged negotiations, there is still no clarity on when a trade deal between India and the US will be finalised. With US President Donald Trump's July 9 deadline set to expire in the coming week, investor anxiety is mounting over what the next few days might bring. According to media reports, Indian negotiators returned from the US on Friday. Meanwhile, India on Friday proposed to impose retaliatory duties under the WTO norms against the US. Commerce Minister Piyush Goyal on Friday stressed that India will not enter into any pact based on deadlines. He said New Delhi will not sign any agreement with the US until it is not fully finalised, properly concluded and in national interest. Experts say a breakthrough would be significant for export-oriented sectors such as IT, pharmaceuticals, and auto components. However, a continued impasse could negatively impact the domestic market in the short term. "The coming week holds significant importance not only for Indian markets but for global equities as well. The most anticipated event is the outcome of the US trade deadline on July 9, which could shape global trade dynamics," said Mishra. India Inc.'s earnings season for the first quarter of FY26 is set to begin next week. IT majors TCS and Tata Elxsi will announce their Q1 results on Thursday, July 10, followed by retail player DMart on Friday, July 11. Growth guidance and management commentary will be closely watched and are expected to set the tone for market sentiment. The monsoon this year has been healthy. As InCred Equities pointed out, India received above-normal southwest monsoon rainfall in June 2025, with cumulative precipitation 8.9 per cent higher than the long-period average (LPA). This marked the earliest full coverage since 2020 and helped kharif crop sowing rise by a strong 11 per cent year-on-year. According to the India Meteorological Department (IMD), active monsoon conditions are likely to continue over many parts of northwest, central and east India during the next six to seven days. The progress of the monsoon will remain on investors' radar, as it plays a key role in keeping India's growth-inflation dynamics favourable in the medium term. Foreign portfolio investors (FPIs) have been offloading Indian equities this month amid ongoing uncertainty over India-US trade talks, stretched market valuations, and the absence of fresh positive triggers. In July so far, FPIs have sold Indian equities worth ₹ 5,773 crore. A sustained foreign capital outflow can keep the domestic market subdued. VK Vijayakumar, Chief Investment Strategist at Geojit Investments, underscored that the resumption of FPI buying will hinge on two things- an India-US trade deal and Q1FY26 earnings trends. "If a trade deal happens between India and the US that will be positive for markets and FPI flows. Besides, if Q1 results indicate earnings recovery, that will be positive. Disappointment on these factors can impact the market and, thereby, FPI flows," said Vijayakumar. Amid the buzz around trade talks and earnings, global markets will closely parse the minutes of the US Federal Open Market Committee's (FOMC) June 17–18 meeting for insights into how Fed officials view inflation, growth, and the future path of interest rates. The US Federal Reserve's next policy meeting is scheduled for July 29–30. While experts see a potential rate cut in September, recent jobs data suggests the US labour market remains resilient, giving the Fed room to delay any immediate policy easing. Meanwhile, Fed Chair Jerome Powell has said he expects the impact of tariffs to show up in inflation data over the coming months. Taken together, these developments indicate that rate cuts could remain on hold for a longer period than previously anticipated. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
