India, US discuss efforts to reduce trade barriers to achieve "balanced trade relationship"
Washington DC: India's Foreign Secretary Vikram Misri and United States' Deputy Secretary of State, Christopher Landau spoke with each other to discuss the "ongoing efforts to reduce trade barriers" for achieving a fair and balanced bilateral trade relationship, strengthen collaboration in defence and technology, and also addressed "illegal immigration" to the United States, according to the US Department of State, Tammy Bruce.
According to a statement released by the US Department of state, Deputy Secretary Landau thanked India for its assistance in addressing illegal immigration to the United States.
"They discussed ongoing efforts to reduce barriers to achieve a fair and balanced bilateral trade relationship, strengthen collaboration in defense and technology, and boost security and prosperity throughout the Indo-Pacific region," US Department of State's spokesperson, Tammy Bruce said.
"The Deputy Secretary also thanked the Foreign Secretary for India's assistance addressing illegal immigration to the United States and asked the Government of India for continued cooperation on this issue," she added, according to US' statement.
The crucial discussion comes amidst the announcement by US to impose reciprocal tariff on India from April 2.
Misri and Landau held a talk on Friday, with the Foreign Secretary congratulating him for his recent confirmation by the US Senate, and inviting Landau for a visit to India.
"Congratulating Deputy Secretary Landau on his recent confirmation by the US Senate, the Foreign Secretary underlined the deepening convergence of India-U.S. strategic interests and the significance of the India-U.S. Comprehensive Global Strategic Partnership," the Ministry of External Affairs (MEA) said.
"The two also touched on the growing bilateral trade, defence and technology cooperation, and issues relating to mobility and migration. Both sides agreed to remain engaged on matters of mutual concern," MEA added.
On illegal immigration and tackling travel agents who violate US visa policy, the US embassy in India recently announced the cancellation of about 2000 visa appointments that had been made by bots.
On Wednesday, the embassy reiterated its zero-tolerance policy towards agents and fixers who violate visa scheduling policies.
In a post on X, the embassy said, "Consular Team India is canceling about 2000 visa appointments made by bots. We have zero tolerance for agents and fixers that violate our scheduling policies."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Times of Oman
an hour ago
- Times of Oman
German firms eye India for future tech collaborations in manufacturing sector
New Delhi: As India is on the brink of becoming the fourth-largest economy in the current fiscal, an increasing number of German companies have ramped up their hunt for Indian partners with the intention of providing future technologies in the manufacturing sector. The German companies are looking for local partners to help Indian businesses in advancing production in areas such as green energy, semiconductor, and pharmaceutical sectors, among others. "India is an important market; it's a growing market and has a huge amount of talent, and we are looking for talent because we are developing new technologies. We are the experts in the production field, and we are developing from the first sketch until the start of production. What we are doing here is we have invited our potential customers to this place (India)," said Rainer Wittich, CEO of EDAG Production Solutions GmbH & Co. KG. "Many customers are going more and more into this activity. They want to build up the production areas more in the field of new technologies like green energy, electrolysers, semiconductors, and medicine pharma, and there we can help with our expertise," Wittich added. The Indo-German Chamber of Commerce, in association with the Indian arm of Germany-based EDAG Group, organised an event to explore business partnerships with emerging local companies and talent to facilitate manufacturing. Talking to ANI during the event in New Delhi, Stefan Halusa, Director General at Indo-German Chamber of Commerce, said, "So we're talking about smart factories, we're talking about smart people, we're talking about smart product development, and all of that contributes to the smart industry and for that we are getting very good responses because it gives a glimpse of what the industry could be like in a couple of years." Answering the question of increased interest of German companies in India, Halusa said three factors are attracting German companies towards India, and they are local markets and economic growth, scale and capabilities of the economy. "The first (factor) is the local market. The Indian economy is growing and it will continue to grow over the next couple of years. So if you look at growth around the world, India is one of the first and most important countries to look at. The second is scale. You look at India for export as well, to invest here also for exporting your goods and services, and the third one is the capabilities," he added. Halusa further added that India has become a hub for research and development (R&D), which is another major factor towards the greater interest of German companies. "A lot of global capability centres are here, so it becomes a hub for research and development and engineering, and this combination is unique, and this is why German companies are looking for growth around the world. This is why they come to India," Halusa added. Going further, Halusa asserted that the German companies are waiting for the ongoing India-EU Free Trade Agreement (FTA) to be concluded, as Germany currently does not have an FTA with India. "Our companies, of course, tell us that they're waiting for the FTA to be concluded because that could really be a game changer for German and European companies. Because India has already concluded trade agreements with a whole number of countries but not with Europe. So there is a risk for us to fall behind, and this is why it's so important for the German and European industry that actually now comes to a conclusion," he added. The trade between two countries has reached USD 26.10 billion, with Indian exports at USD 9.83 billion in 2023-24. Indian imports from Germany reached USD 16.27 in FY24. Germany is currently the 10th largest trading partner in exports for India in April-October 2024. On the government front, leaders of both partner countries have underscored the crucial importance of a comprehensive Free Trade Agreement, Investment Protection Agreement and an Agreement on Geographical Indications between the European Union and India.
Times of Oman
5 hours ago
- Times of Oman
Critical mineral investments stalled by economic uncertainty despite strong demand outlook: IEA
New Delhi: Investment decisions in the global critical mineral sector face significant market and economic uncertainties, despite strong expectations for future demand growth, according to the International Energy Agency (IEA). In its Global Critical Minerals Outlook 2025, the IEA added that investment momentum in critical minerals development weakened in 2024, rising just 5 per cent compared to 14 per cent in 2023. Adjusted for cost inflation, real investment growth stood at only 2 per cent, reflecting growing economic and market uncertainties despite strong long-term demand expectations. According to IEA, exploration activity plateaued after consistent growth since 2020. While spending rose for lithium, uranium, and copper, it declined sharply for nickel, cobalt, and zinc. The funding in startups also slowed, the IEA report added. The low mineral prices failed to trigger new investments and affected projects led by new market entrants. The report added that diversification is the watchword for energy security, but the critical minerals world has moved in the opposite direction in recent years, particularly in refining and processing. Between 2020 and 2024, growth in refined material production was heavily concentrated among the leading suppliers. As a result, the geographic concentration of refining has increased across nearly all critical minerals, particularly for nickel and cobalt, the report added. The average market share of the top three refining nations of key energy minerals rose from around 82 per cent in 2020 to 86 per cent in 2024 as some 90 per cent of supply growth came from the top single supplier alone: Indonesia for nickel and China for cobalt, graphite and rare earths. The report further notes that, despite surging demand, significant supply expansions--primarily from China, Indonesia, and the Democratic Republic of the Congo--have driven prices down, particularly for battery metals. The IEA said that the swift increase in battery metal production highlighted the sector's ability to scale up new supply more quickly than for traditional metals like copper and zinc. Since 2020, supply growth for battery metals has been twice the rate seen in the late 2010s. As a result, following the sharp price surges of 2021 and 2022, prices for key energy minerals have continued to decline and have returned to pre-pandemic levels. Lithium prices, which had surged eightfold during 2021-22, fell by over 80 per cent since 2023. Graphite, cobalt, and nickel prices also dropped by 10 to 20 per cent in 2024. Critical minerals such as copper, lithium, nickel, cobalt and rare earth elements are essential components of many of today's rapidly growing energy technologies - from wind turbines and electricity networks to electric vehicles. Demand for these materials is growing quickly as energy transitions gather pace.
Times of Oman
6 hours ago
- Times of Oman
India, Mongolia hold joint military drill 'Nomadic Elephant 2025' in Ulaanbaatar
New Delhi: The 17th edition of the joint military exercise 'Nomadic Elephant 2025' between India and Mongolia is currently underway at the Special Forces Training Centre in Ulaanbaatar, the Indian Army said. According to the Indian Army, the training focuses on conducting non-conventional operations in semi-urban and mountainous terrain under a United Nations mandate. The objective is to enhance the operational capabilities of both forces. Participating contingents are actively exchanging best practices in counter-terrorism operations and precision sniping, thereby improving interoperability. Through these joint drills, Indian and Mongolian forces aim to strengthen their ability to respond effectively to contemporary security challenges. The 'Nomadic Elephant 2025' exercise began on May 31 and is scheduled to continue until June 13, 2025. The opening ceremony was attended by key dignitaries, including India's Ambassador to Mongolia, Atul Malhari Gotsurve, and Major General Lkhagvasuren Ganselem from the Mongolian side. Both leaders extended their best wishes to the participating troops and expressed hope that the exercise would further strengthen cooperation and mutual understanding between the armed forces of India and Mongolia. They emphasised that the joint exercise would enhance the operational readiness of both armies and contribute to deepening the enduring defence relationship between the two nations. This annual exercise is conducted alternately in India and Mongolia. The last edition was held at Umroi, Meghalaya, in July 2024. The Indian contingent comprises 45 personnel, mainly troops from a battalion of the Arunachal Scouts. The Mongolian armed forces contingent, of similar strength, is represented by a 150 Special Forces unit. The joint drills will include counter-terrorism operations in semi-mountainous terrain, endurance training, reflex shooting, room intervention, small team tactics, rock craft training, and cyber warfare aspects.
