logo
Setbacks of last few years not in our interest: Wang Yi at meeting with Ajit Doval

Setbacks of last few years not in our interest: Wang Yi at meeting with Ajit Doval

India Todaya day ago
Chinese Foreign Minister Wang Yi on Monday said that the setbacks experienced in the past few years between India and China were not in the interests of the people of either country.Speaking in New Delhi during the 24th round of Special Representative Level Talks on the boundary question, he noted that the October 2024 meeting between President Xi Jinping and Prime Minister Narendra Modi in Kazan had provided direction for the development of bilateral relations and given fresh impetus to efforts at resolving boundary issues. advertisementWang said the 23rd round of talks last year had led to new consensus on managing disagreements, stabilising the borders, and moving towards a settlement.
"We identified specific goals and formed a working framework. We are heartened to see the stability that is now restored on the borders," he told National Security Advisor Ajit Doval, adding that the current phase presents "an important opportunity of improvement and growth" for bilateral ties.The Chinese minister underlined Beijing's expectations from the upcoming Shanghai Cooperation Organisation (SCO) summit. "The Chinese side attaches great importance to the Prime Minister's visit to China to attend the SCO summit at our invitation. We believe that the Indian side will also make contribution to a successful summit in Tianjin," he said, emphasising that a healthy and stable relationship was in the long-term interests of both countries and welcomed by the developing world.He called for both sides to follow the "strategic guidance" of their leaders, increase mutual trust through communication, expand areas of cooperation, and work towards properly settling boundary issues."Just now we had in-depth and detailed communication in the small group meeting. At the large group meeting, I am ready to work with you to build more consensus and identify the direction, the specific goals of the next boundary consultations going forward," Wang added. NSA Ajit Doval, welcoming Wang Yi in Delhi, said there had been "an upward trend" in bilateral engagements in recent months. "Borders have been quiet. There has been peace and tranquillity. Our bilateral engagements have been more substantial. And we are most grateful to our leaders who, in Kazan last October, were able to set a new trend, and we have profited a lot since then," he said.Doval stressed the importance of the current round of talks, pointing to Prime Minister Modi's upcoming visit for the SCO summit. "I'm very hopeful that, like the last one, this 24th Special Representative Level Talks will be equally successful," he said.He also noted that the talks coincided with 75 years of diplomatic relations between India and China."It's time to celebrate. And we find that with this new energy and the new momentum, with your personal efforts and with the maturity and the sense of responsibility of our diplomatic teams and our armies on the borders, we have been able to make it this time," Doval said.- EndsTune InMust Watch
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Fixed, floating or hybrid: Which home loan interest rate regime works best
Fixed, floating or hybrid: Which home loan interest rate regime works best

Time of India

time9 minutes ago

  • Time of India

Fixed, floating or hybrid: Which home loan interest rate regime works best

Academy Empower your mind, elevate your skills The interest rate remains fixed for the first three years, helping borrowers plan their outflows better. After this period, the loan automatically moves to a floating regime, linked to the company's internal reference rate. Interest rate starting at only 7.40%* p.a. Borrowers can also opt for a premature switch to a floating rate in the first 3 years as well – by paying nominal conversion charges. Borrowers can even prepay during the fixed period without penalty (if using their own funds). Those who prioritise stability above all else may prefer fixed for a limited duration. Those willing to ride market cycles might lean towards floating. And those who want assurance in the short term and opportunity in the long term could find a hybrid loan especially useful, particularly in today's low-rate environment. Buying a home is a key milestone for most Indian families, and a home loan often plays a central role in turning that aspiration into reality. While most borrowers focus on eligibility, loan amount, or EMI affordability, an equally important decision often gets less attention: what kind of interest rate regime to home loans in India are offered either on a fixed or floating rate. Each comes with advantages and tradeoffs. But in recent years, a third structure, hybrid loans, has emerged, aiming to give borrowers the best of both home loans offer a predetermined interest rate for a set period, typically a few years, before they reset. The biggest advantage here is stability. Borrowers know exactly what their EMIs will be during that phase, which makes budgeting fixed rates are often slightly higher than floating rates at the time of borrowing. And once the reset date arrives, the interest may be revised in line with prevailing market rates. In effect, fixed-rate loans provide peace of mind in the short term but may not remain immune to market shifts over the full home loans are linked to benchmarks such as the repo rate. This means the interest payable can go up or down depending on market borrowers, the attraction is obvious; if interest rates fall, EMIs reduce or the tenure shortens. Over a long repayment horizon, this can translate into significant savings. On the other hand, if rates rise, monthly payments increase. Floating loans, therefore, require borrowers to be comfortable with some level of the two extremes lies a relatively new option: the hybrid interest rate loan. This structure keeps the interest rate fixed for an initial period and then transitions to a floating logic is straightforward. The early years of a home loan are when repayment discipline matters most. A fixed rate in that phase provides stability and predictability. Later, once borrowers are more financially settled, the loan shifts to floating, allowing them to benefit from any downward movement in market fixed or floating loans, hybrid loans are not widely available. They are a more recent innovation, designed specifically for borrowers who want a balance between certainty and interest rate environment makes hybrid loans especially compelling. Home loan rates are at a low in recent years, with the starting range at around 7.40%-8.35% per annum for eligible salaried borrowers. For those availing a hybrid loan now, this means the opportunity to lock in that highly competitive practical terms, borrowers can secure predictable EMIs at a time when rates are attractive, while still retaining the option to benefit from any future softening once the loan shifts to floating. In volatile economic conditions, that combination of early certainty and later flexibility can be a significant example of a hybrid loan available is the Bajaj Housing Finance Limited Dual Interest Rate Home Loan. Here are some things to consider about this offering:This structure illustrates how hybrid loans can address the needs of borrowers who don't want to choose between predictability and flexibility, especially at a time when borrowing costs are on the lower benefits of the Dual Interest Rate Home Loan include:There isn't a single 'right' answer. It depends on individual India's mortgage market evolves, borrowers are beginning to see that the choice is not just fixed or floating. Hybrid models are redefining how home loans can be structured, offering a balanced approach for those seeking both certainty and interest rates hovering at a relatively low point, the timing is especially favourable. For borrowers stepping into homeownership now, the ability to freeze today's competitive rates for the next few years, and then benefit from potential future reductions, makes hybrid loans a smart alternative worth considering.

'India is a global power, Trump's sanctions will only....': Russia praises India amid pressure from US for purchasing Russian oil
'India is a global power, Trump's sanctions will only....': Russia praises India amid pressure from US for purchasing Russian oil

India.com

time9 minutes ago

  • India.com

'India is a global power, Trump's sanctions will only....': Russia praises India amid pressure from US for purchasing Russian oil

Russia-India relations India-Russia relations: In a significant development amid the recent tensions between India and US on the issue of Indian exports to US and import of Russian crude oil, Charge d'Affaires of the Russian Embassy in India Roman Babushkin has said that India is a global power with a diversified foreign policy. Adding that India is a leading economic country, Babushkin said that Russia remains committed to resolve any problems even during challenges. Here are all the details you need to know about what the Charge d'Affaires of the Russian Embassy has said on India-Russia relations and the recent geopolitical tensions. What Russian Embassy said on Putin-Trump Alaska meet and its impact on India? 'There are so many rumours and speculations about this summit in Alaska, which took place on the 15th of August. In fact, it was a breakthrough development, because you would see the leaders of the leading global powers sitting together and having a very warm, deep and very prolonged conversation. The agenda was a diversified one. We are absolutely not about to link it to just one particular question. We talk about the restoration of relations between Russia and the US. And for that, rebuilding trust is one of the most significant tasks', Roman Babushkin was quoted as saying on the Alaska as per a report carried by news agency ANI. Roman Babushkin also said that Russia-India have been facing this problem of sanctions for many years, but their trade is only growing. Story Highlights Russian Embassy has indicated that Russia-India trade is growing despite all concerns. It has also indicated that Russia remains committed to resolve any problems even during challenges. On Russia-US relations, Charge d'Affaires of the Russian Embassy in India said that rebuilding trust is one of the most significant tasks. What Russia thinks on US imposing more tariffs on India? 'And as far as we heard here in the mission after this meeting, which was, according to assessments by President Trump, very successful and very positive, I think I heard that he decided not to impose an extra 25 per cent on India, according to media reports. I didn't see other reports,' he stated on the Trump tariffs on India.

Russian diplomat tells Donald Trump ‘friends don't behave like that' as Moscow opens doors to Indian exports amid US tariffs
Russian diplomat tells Donald Trump ‘friends don't behave like that' as Moscow opens doors to Indian exports amid US tariffs

Time of India

time9 minutes ago

  • Time of India

Russian diplomat tells Donald Trump ‘friends don't behave like that' as Moscow opens doors to Indian exports amid US tariffs

India-Russia relations remain on solid ground despite U.S. tariffs imposed by President Donald Trump, according to Russian Charge d'Affaires Roman Babushkin. Speaking at a press briefing, the diplomat underlined Moscow's support for Indian exports, defended oil trade between the two nations, and questioned Washington's idea of 'friendship.' India-Russia ties described as uninterrupted Opening his remarks in Hindi, Babushkin described India-Russia relations as uninterrupted and expanding. He noted that mutual respect has been central to the partnership, stretching across energy and defence. He also pointed to the possibility of reviving the Russia-India-China trilateral dialogue as a counterweight to Western influence. Response to Trump's tariffs In a direct reference to Trump's tariff measures, Babushkin questioned the U.S. approach towards India. Despite Trump calling Prime Minister Narendra Modi a 'friend,' Washington imposed a 50 percent tariff on Indian goods. 'The sanctions are a tool of unlawful competition… Friends don't behave like that,' Babushkin said, stressing that sanctions signal double standards and pressure rather than cooperation. Russian markets open to Indian goods With U.S. tariffs limiting Indian access, Babushkin announced Russia's willingness to expand trade with India. 'If Indian goods cannot go to the U.S. market, they can head to Russia,' he said. Bilateral trade between India and Russia reached $68.7 billion in 2024–25, with India exporting goods worth $4.88 billion. He added that criticism from the West often means India and Russia are 'doing something right,' pointing out that bilateral trade has grown sevenfold despite sanctions. Oil trade and U.S. concerns Much of Washington's criticism has been linked to India's purchase of Russian oil, which accounts for about 40 percent of its imports. Babushkin said reducing oil imports would not ensure fair cooperation with the West, which he described as acting in a neocolonial manner. He highlighted that Russian oil sales to India come at a five percent discount, with Indian refiners resuming purchases after a brief pause. 'India understands there is no chance to change supplies right now, and the profit is very high,' he added. Revival of the RIC dialogue Looking ahead, Babushkin said Russia is hopeful of reviving the Russia-India-China trilateral dialogue. Initiated in the late 1990s but dormant for years, the framework could help strengthen regional stability. With India-China ties showing signs of improvement, Moscow sees the format as timely. The Russian diplomat's comments served as a clear signal: Moscow views India as a long-term partner, while Trump's tariff measures have raised questions about the U.S. approach to friendship. With open markets, energy cooperation, and trilateral engagement, India-Russia ties remain resilient. To stay updated on the stories that are going viral follow Indiatimes Trending.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store