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Economic Times
16 minutes ago
- Economic Times
India to host two key defence engagements with US this month to expedite procurements
India and the US are set to strengthen their defence partnership through a series of high-level engagements this month, despite existing trade tensions and the US-Pakistan alliance. Discussions will focus on expediting military hardware purchases, including the long-delayed delivery of F404 engines for Tejas fighter jets and additional P-8I maritime patrol aircraft. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India will host two key defence engagements with the US this month to discuss accelerating military hardware purchases. The meetings come despite the current low in bilateral ties since the unprecSindoor levy of 50% tariffs by the Trump administration and Pakistan-US military bonhomie.A high-level US defence policy team will arrive in New Delhi mid-August, followed by a working-level 2+2 Intersessional Dialogue towards this month end, Randhir Jaiswal, spokesperson in the Ministry of External Affairs (MEA) said on meetings aim to advance defence cooperation and expedite pending procurement projects, it has been learnt.'The India–US defence partnership, underpinned by foundational defence agreements, is an important pillar of the bilateral relationship,' Jaiswal said. 'This robust cooperation has strengthened across all domains.'The agenda of the meetings could be on the long-delayed delivery of General Electric-made F404 engines for India's Tejas Mk-1A fighter jets and six additional Boeing P-8I long-range maritime patrol aircraft. However, P-81 acquisitions have been delayed by several two militaries are also expected to hold their annual Yudh Abhyas in Alaska from September 1-4. Yudh Abhyas is the name of the annual joint military exercise between the Indian Army and the US Army. The exercise focuses on enhancing military cooperation, interoperability, and sharing best practices in counter-terrorism operations . The 20th edition was held in Rajasthan from September 9 to 22, exercise includes tactical drills, joint planning, and field training exercises that simulate real-world counter-terrorism scenarios. The 2024 edition involved 1,200 troops from both sides, including special forces units and Green Berets. This year, the troops, drawn from a mix of all arms and services, will be led by the Madras Regiment. US troops are keen to draw lessons from India's experience in Operation Sindoor.
Economic Times
16 minutes ago
- Economic Times
Australian shares cross 8,900 level for first time, banks do the heavy lifting
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Hindustan Times
18 minutes ago
- Hindustan Times
'Dragon and elephant as partners…': What China said on India ties amid Trump tariff threats
The Chinese foreign ministry on Thursday said China and India are both major developing countries and important members of the Global South, and 'cooperative pas de deux of the dragon and the elephant as partners helping each other succeed is the right choice for both sides', reported Global Times. China's President Xi Jinping and India's Prime Minister Narendra Modi arrive for a signing ceremony during Shanghai Cooperation Organization (SCO) summit in Qingdao, Shandong Province, China June 10, 2018. (REUTERS) Chinese foreign ministry spokesperson Lin Jian was responding to a question about how Beijing sees the bilateral relations with New Delhi evolving and how both countries can work together on the global stage. US President Donald Trump's threat of a 50 per cent tariff on Indian goods is pushing Prime Minister Narendra Modi closer to BRICS nations, especially China. This marks a significant shift in bilateral ties between India and China, which saw their lowest point in 2020 following the Galwan Valley clash. "China stands ready to work with India to act on the important common understandings reached between leaders of our two countries, consistently increase political mutual trust, expand exchanges and cooperation together, properly handle differences while bearing in mind the bigger picture, and strengthen coordination and cooperation on such multilateral platforms as the Shanghai Cooperation Organization, with a view to promoting the sound and steady development of China-India relations," Global Times quoted Lin as saying. Amid the India-US tariff tensions, PM Narendra Modi is expected to announce the resumption of direct flights with China as soon as next month, people familiar with the negotiations, who asked for anonymity to discuss private matters, told news agency Bloomberg. The deal could be formally announced when Modi is expected to head to China for the first time in seven years and meet President Xi Jinping at the Shanghai Cooperation Organisation held in Tianjin from August 31, the report added. Washington DC has long courted New Delhi as a counterbalance to Beijing in geopolitics but with Donald Trump's trade wars, China and India are finding common ground. Xu Feihong, China's ambassador to India, has offered Modi moral support over the tariffs. 'Give the bully an inch, he will take a mile,' Xu wrote last week on X over a quote from Chinese Foreign Minister Wang Yi denouncing the use of tariffs 'as a weapon to suppress other countries.' Trump's 50% tariff on India Modi's economic calculus was fundamentally altered this month when Trump doubled tariffs on Indian goods to 50 per cent as a penalty for its purchases of Russian oil. Donald Trump's remarks that India's economy was 'dead' and its tariff barriers 'obnoxious' further strained relations.
