
1563 Indians Deported From US Since Jan 20 This Year: Foreign Ministry
The Ministry of External Affairs on Thursday confirmed that approximately 1,563 Indian nationals have been deported from the United States since January 20, 2025, the day Donald Trump assumed office as US President for a second term.
"Since 20 January of this year, till yesterday, some 1563 Indian nationals have been deported from the United States so far. Most of these Indian nationals have come by commercial flight," MEA spokesperson Randhir Jaiswal said during the weekly media briefing.
Responding to a query on the arrest of an Indian national in Washington on charges of possessing child pornography, Jaiswal said, "These are matters of law and order... We would endeavour to tell Indian nationals going abroad that they should abide by local laws, guidelines and regulations."
Reinforcing the same message in another case, he referred to the reported arrest of an Indian tourist in the US for allegedly shoplifting. The MEA spokesperson reiterated the ministry's consistent advisory for Indian travellers. "...Our constant request to all our people who go abroad is that they should follow the law and order of that country, and create a good image of the country," he said.
Commenting on the ongoing discussions regarding an India-US trade deal, Jaiswal said, "This is a matter which is under discussion between the two sides. We will share when something is finalised."
His remarks came as US President Donald Trump on Wednesday (local time) hinted at the possibility of a new trade deal with India soon. While adding "maybe", he said that the US is currently in negotiations with India.
Trump mentioned that the US is close to finalizing a deal that would grant American businesses greater access to the Indian market.
Trump while speaking to reporters during a bilateral meeting with Bahrain's Crown Prince Salman bin Hamad bin Isa Al Khalifa, emphasized that August 1 would be a significant day for trade deals, with substantial revenue expected to flow into the US.
"...We've brought in over $100 billion. The tariffs haven't kicked in significantly, except for automobiles and steel. August 1st is when a very substantial money comes into our country. We've made deals with numerous places. We had one yesterday," Trump said.
The proposed agreement is expected to reduce tariffs and enhance bilateral trade relations between the two nations.
"We have another one (deal) coming up, maybe with India... We're in negotiation. When I send out a letter, that's a deal... The best deal we can make is to send out a letter, and the letter says that you'll pay 30%, 35%, 25%, 20%... We have some pretty good deals to announce... We're very close to a deal with India where they open it up," Trump added.
Trump earlier drew parallels with the recent US-Indonesia trade pact, which granted American companies expanded market access in Indonesia.
Announcing progress on the India part, Trump stated, "We're going to have access into India. And you have to understand, we had no access into any of these countries. Our people couldn't go in. And now we're getting access because of what we're doing with the tariffs."
The ongoing bilateral trade talks (BTA) negotiations by India and the United States (US) are progressing as per the decisions of Prime Minister Narendra Modi and US President Donald Trump, said the government officials on Tuesday.
"Our team is back in the US for carrying out the fifth round of negotiations on the bilateral trade agreement, so that agreement is progressing as per the decisions of our leaders and as per the terms of reference decided between the two countries," the government officials told ANI.
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Indian Express
15 minutes ago
- Indian Express
2 Indians killed, one missing in Niger: What is happening in the West African nation?
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The Indian Embassy in Niger said the Mission, in the capital city of Niamey, was in touch with local authorities to repatriate the mortal remains and ensure the safe release of the abducted Indian. It also advised all Indians in Niger to maintain vigilance. How many Indians are known to be in the country, and what is the prevailing political situation there? We explain. According to the Union Ministry of External Affairs, around 150 Indians are currently in Niger. They are mostly engaged in the hospitality/service/business sectors. This presents a decline from 2023, when around 250 Indians were in the country. The Associated Press reported that foreigners are increasingly becoming targets of armed groups in Niger. Several have been kidnapped this year, including an Austrian woman who has lived in Niger as an aid worker for more than 20 years, a Swiss woman seized from her home in April and five Indian workers, also in April. In its modern history, Niger received independence from French colonial rule in 1960. For a majority of its post-independence era, it has seen single-party rule, military coups and limited space for the survival of democratic governments. Bazoum Mohamed's 2021 victory in the presidential election marked the country's first transition from one democratically elected president to another. But it was short-lived, and Niger again saw a military coup in 2023 led by General Abdourahmane Tchiani, who was officially sworn in as the president in March this year. He is supposed to serve for a transitional period of five years. Even before the recent political upheaval, the Sahel region (which Niger is a part of) was facing problems like climate change, poverty and terrorism. Lying to the south of the Sahara desert, it stretches from the Atlantic Ocean to the Red Sea, including countries such as Nigeria, Senegal and Chad. It is also among the youngest regions of the world, with about 64% of the population under the age of 25. In some cases, the rise of terrorism has been cited in many countries as a justification for coups. Niger's western neighbours, Burkina Faso and Mali, also saw coups in 2022 and 2020, respectively. The AP also cited the Armed Conflict Location and Event Data Project as noting that June was one of the country's deadliest months on record. Islamic State-backed fighters launched a major offensive across the Tillaberi and Dosso regions, the latter being where Indians were killed. More than 100 civilians were killed in the exchange of fire. What complicates the existing issues is the presence of international actors. In an article for Foreign Policy in 2020, Samuel Ramani, an Associate Fellow at the Royal United Services Institute think tank, wrote, 'Instead of taking constructive steps to address the array of challenges facing the Sahel, great powers and regional institutions are exacerbating the region's problems.' 'Due to their intense focus on geostrategic competition and willingness to equate authoritarianism with stability, great powers such as France, the United States, Russia, and China, have actually perpetuated conditions, such as corruption and fragile state institutions, that contribute to rising political violence in the Sahel,' he added. One example is the Russian Wagner Group, which has supplied mercenaries to the region. On March 23 last year, Malian and Wagner Group soldiers launched a five-day attack on a border town to 'root out Islamist militants, killing more than three hundred civilians', according to the Council on Foreign Relations. According to a BBC report, the regional bloc ECOWAS (Economic Community of West African States) also imposed 'crippling sanctions' on Niger after 2023, such as border closures and a no-fly zone for all commercial flights. However, in January, Mali, Burkina Faso and Niger formally left the grouping. Historically, India and Niger had limited exchanges in terms of trade, but that has changed in recent years. The volume of trade has grown from around $95 million in 2018-19 to $203 million in 2022-23, and while Indian exports composed a major share seven years ago, of late the balance of trade is in Niger's favour. The main items being exported from Niger to India are Gum Arabic, Resins and other Vegetable saps and extracts, semi-precious stones, Oil seeds (Sesame), misc. grains, goat skins. etc. India has also extended Lines of Credit to Niger, for the construction of infrastructure and community projects. In 2020, External Affairs Minister S Jaishankar visited the country.
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Business Standard
15 minutes ago
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Decoded: What are stablecoins, and why is the US regulating them?
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Unlike cryptocurrencies, which experience significant price fluctuations due to speculation and limited supply mechanisms, stablecoins intend to provide price predictability. What backs stablecoins? Stablecoins can be broadly categorised based on their collateral mechanisms. Each category presents a different method for maintaining price stability: 1. Fiat-collateralised stablecoins: These stablecoins are backed by reserves of fiat currency held in bank accounts or other arrangements. The most common examples—such as Tether (USDT) and USD Coin (USDC)—are pegged to the US dollar. For every unit of stablecoin issued, an equivalent amount in fiat currency is supposedly held in reserve. These stablecoins rely heavily on trust in the issuer and the auditing of reserve holdings. Concerns have been raised in the past regarding the transparency and adequacy of these reserves, prompting countries to explore regulatory frameworks for the same, like the GENIUS Act. 2. Crypto-collateralised stablecoins: These are backed by other cryptocurrencies, which are typically over-collateralised to account for price volatility. For example, DAI, a widely known decentralised stablecoin, is backed by Ethereum and other crypto assets held in smart contracts on the blockchain. Blockchain is a distributed digital ledger that records transactions in a secure way, allowing assets to be tracked across a network. Smart contracts are digital contracts stored on a blockchain that are automatically executed when predetermined terms and conditions are met. For example, DAI is liquidated when the value of the cryptocurrency backing it falls below a certain threshold. These are still exposed to the inherent volatility of the underlying crypto assets and may face issues during market stress. 3. Algorithmic (non-collateralised) stablecoins: Algorithmic stablecoins use mathematical formulas and incentive mechanisms to manage the coin supply and maintain a peg without relying on actual collateral. They automatically expand or contract the supply of tokens based on demand. TerraUSD (UST), which collapsed in 2022, was one such example. 4. Commodity-collateralised stablecoins: Some stablecoins are backed by physical commodities such as gold or silver. These include coins like PAX Gold (PAXG), where each coin represents ownership of a specific amount of physical gold held in reserve. Uses of stablecoins Stablecoins serve several purposes across retail, institutional, and decentralised finance sectors: Payments: Due to lower transaction fees and faster settlement times, stablecoins are increasingly used for cross-border transfers, particularly in regions with limited access to banking infrastructure. Stablecoins are also integral to decentralised finance platforms, where they serve as collateral for loans, liquidity provision, and decentralised exchanges. Hedging against volatility: Investors often convert volatile crypto holdings into stablecoins to preserve value during market downturns. Risks associated with stablecoins Despite their intended stability, stablecoins are not without risks. As their market capitalisation has grown, regulators and policymakers have raised several concerns. One of the most prominent concerns is whether stablecoin issuers actually hold sufficient, liquid, and accessible reserves to honour redemptions. Here's where legislation like the GENIUS Act steps in. It requires 100 per cent reserve backing with liquid assets like US dollars or short-term Treasuries and requires issuers to make monthly, public disclosures of the composition of reserves. According to the White House press release, "In the event of insolvency of a stablecoin issuer, the GENIUS Act prioritises stablecoin holders' claims over all other creditors, ensuring a final backstop of consumer protection". Alternatives to stablecoins As stablecoins gain popularity, several alternatives are being explored to address their risks and limitations—particularly by regulators and central banks. Central Bank Digital Currencies (CBDCs) are the most prominent alternative. Unlike stablecoins, CBDCs are issued by central banks and carry sovereign backing. They aim to offer secure, programmable digital payments without the volatility of crypto. India also has a CBDC backed by the Reserve Bank of India, known as the digital rupee or e-rupee. Tokenised deposits: These are digital versions of regular bank deposits issued on blockchain platforms, allowing instant settlement and integration with smart contracts. E-money and digital wallet balances, while not blockchain-based, are widely used. These are backed by fiat reserves and regulated under existing financial rules. As countries continue to shape regulatory frameworks and central banks explore digital alternatives, the journey ahead for stablecoins will likely depend on their ability to operate securely and transparently within the financial system.


New Indian Express
15 minutes ago
- New Indian Express
Japan's Ishiba says he'll stay in office to tackle inflation and US tariffs despite election loss
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