India engages U.S. in plans to ‘grey list' Pakistan at FATF session
Foreign Secretary Vikram Misri, who was recently on a three-day visit to the U.S., engaged the American officials regarding the upcoming Financial Action Task Force (FATF) session, where India is expected to argue for grey listing Pakistan.
According to the Ministry of External Affairs, Mr. Misri — during his visit from May 27-29 — met a number of officials, including U.S. Deputy Secretary of State Christopher Landau, and both sides focused on 'technology, trade and talent' as the pillars of the India-U.S. relationship.
'With Deputy Secretary of the Treasury Michael Faulkender, the Foreign Secretary discussed ways to deepen economic and financial ties, including collaboration in international financial institutions and coordination in the upcoming Financial Action Task Force (FATF) processes,' the MEA said in a statement about Mr. Misri's visit, carried out as a part of India's outreach to crucial partner countries following Operation Sindoor against terror targets in Pakistan.
The next plenary meeting of the Financial Action Task Force (FATF) is expected to take place in June, where India is planning to push for the re-inclusion of Pakistan in its 'grey list' of countries that are subject to increased scrutiny.
Also Read | India hopes U.S. will clear visas on merit
The Hindu had earlier reported that the Government of India will also oppose further World Bank funding to Pakistan. India has been arguing that the security establishment of Pakistan has a direct link to terror outfits like the Lashkar-e-Taiba and Jaish-e-Mohammed that carry out cross-border terror attacks against Indian citizens, and that the terror link makes a compelling case to put all financial assistance to Pakistan under increased scrutiny.
India has already made a round of submissions to the Monitoring Team of the 1267 Sanctions Committee of the UN Security Council earlier in May. India's campaign to squeeze Pakistan on the financial front is expected to intensify in the coming months.
Mr. Misri's visit to the United States had additional diplomatic importance as U.S. President Donald Trump has been repeating that he used the trade card to bring the four-day military conflict between India and Pakistan to a pause on 10 May. He reiterated his contribution to the pause in India-Pakistan hostilities on Friday, saying, 'We stopped India and Pakistan from fighting. I believe that could have turned out into a nuclear disaster.'
Mr. Misri reviewed the progress of the India-U.S. Bilateral Trade Agreement and cooperation in critical and emerging technologies during his meeting with Under Secretary of Commerce Jeffrey Kessler. The two officials agreed to convene the next meeting of the India-U.S. Strategic Trade Dialogue at the earliest opportunity.
In Mr. Misri's meeting with Deputy Secretary of Defence Steve Feinberg and Under Secretary for Policy Elbridge Colby, both sides reiterated their commitment to a 'robust and forward-looking defense partnership'. 'Discussions focused on co-production and co-development initiatives, sustained joint military exercises, logistics and information-sharing frameworks, and enhancing interoperability between the armed forces,' the MEA said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
39 minutes ago
- Time of India
Stock market today: Nifty50 goes below 24,600; BSE Sensex tanks over 500 points
Market experts anticipate continued positive momentum through June. (AI image) Stock market today: Nifty50 and BSE Sensex , the Indian equity benchmark indices, opened in red on Monday. While Nifty50 went below 24,600, BSE Sensex tanked over 500 points. At 9:16 AM, Nifty50 was trading at 24,587.10, down 164 points or 0.66%. BSE Sensex was at 80,879.49, down 572 points or 0.70%. Market experts anticipate continued positive momentum through June, supported by robust Q4 GDP data, potential RBI rate reductions and steady institutional capital flows. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, 'The market structure favours continuation of the ongoing consolidation phase. There are global headwinds like renewed tariff concerns that will restrain a breakout rally. At the same time there are domestic tailwinds that will support the market at lower levels. President Trump's 50% tariffs on steel and aluminium is a clear message that the tariff and trade scenario will continue to be uncertain and turbulent. This headwind will impact markets. On the domestic front the tailwinds are getting stronger with the latest Q4 GDP growth data coming at 7.4%, which is much better-than-expected.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo 'Trends in consumption expenditure and capital expenditure are promising. This along with low inflation and the expected continuation of the rate cutting policy provide the perfect setting for sustained economic growth in FY26. The only challenge is the tepid earnings growth. If leading indicators suggest a recovery in earnings growth there is a high probability of the market breaking out of the present range and moving higher. " Asian markets declined alongside US stock-index futures amidst escalating trade concerns, with investors showing reluctance towards risk assets. Safe-haven demand boosted gold prices. The S&P 500 finished Friday's volatile trading session nearly unchanged as U.S. President Donald Trump criticised China before expressing optimism about a trade deal. The index recorded its largest monthly gain since November 2023. Oil prices gained more than $1 per barrel on Monday following OPEC+'s decision to raise July production by an amount identical to the previous two months, meeting market predictions. Foreign portfolio investors sold shares worth Rs 6,450 crore net on Friday. Domestic institutional investors were net purchasers at Rs 9,096 crore. FIIs' futures market position increased to a net short of Rs 83,684 crore on Friday from Rs 77,963 crore on Thursday. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Print
40 minutes ago
- The Print
Supriya Sule-led delegation arrives in Egypt to convey India's stance on terrorism
The delegation has a packed and productive schedule in Egypt, including Ministerial engagements, Parliamentary exchanges, interactions with think tanks, media, the Indian community and others. The delegation arrived in Cairo after concluding their visit to Ethiopia on Sunday, Suresh Reddy, India's Ambassador to Egypt, received the delegation. Cairo, Jun 2 (PTI) An all-party delegation led by NCP MP Supriya Sule has reached Egypt to present India's stance on zero tolerance against terrorism. It is one of the seven multi-party delegations India has tasked to visit 33 global capitals to reach out to the international community to emphasise Pakistan's links to terrorism. Tensions between India and Pakistan escalated after the Pahalgam terror attack, with India carrying out precision strikes on terror infrastructure in Pakistan and Pakistan-occupied Kashmir in the early hours of May 7. Pakistan attempted to attack Indian military bases on May 8, 9, and 10. The Indian side responded strongly to the Pakistani actions. The on-ground hostilities ended with an understanding of stopping the military actions following talks between the directors general of military operations of both sides on May 10. PTI NSA NSA NSA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
41 minutes ago
- Time of India
"Will negotiate a fair balance," Piyush Goyal optimistic of wrapping up FTA with EU by year end
Commerce and Industry Minister Piyush Goyal expressed optimism that India could finalise its Free Trade Agreement (FTA) with the European Union (EU) ahead of the year-end deadline, citing minimal divergences between the two economic blocs. Goyal emphasised the complementary nature of the Indian and European economies. "There are not too many issues where we have divergence of opinion. We have both complementary economies," he stated. "In most cases, what is of offensive interest to India does not hurt the European economy. And likewise, goods and services that Europe would like to provide to India only support our growth story." The minister acknowledged that certain sensitive areas require careful negotiation on both sides. "Obviously, in any trading relationship, there are certain sensitive issues on both sides which we have to resolve amicably in the interest of both the European Union and India," Goyal noted. India has positioned itself strongly on key issues concerning the EU, particularly regarding gender equality and sustainability. "We are proud of our sisters and our women and the fantastic work they have done and continue to do," Goyal said. "Therefore, if you have a subject like gender, India is on the front foot. When it comes to subjects like sustainability, India is right at the forefront." Both sides have raised specific concerns that must be addressed in the negotiations. "We have certain concerns about European Union practices and regulations. Likewise, they have certain areas of things they would like to discuss," the minister explained. Goyal expressed confidence that these issues could be resolved through fair negotiation. "Some issues are on the table and we will negotiate a fair balance and free trade agreement," he said. "There would be many issues on both sides which will come up for discussion so that we can come up with a robust agreement that will support market access and promote easier trade." The minister clarified that free trade agreements operate independently of domestic business reforms. "Free trade agreements stand on their footing. They have no relationship to our internal domestic effort to make it attractive to do investments and businesses," he explained. Instead, FTAs focus on market liberalisation that benefits both economies. "Free trade agreements are more towards opening markets on both sides, which leads to greater competitiveness, improved productivity and efficiency in all processes," Goyal said. The agreement is expected to create broader economic opportunities across multiple sectors. "It opens the doors to larger engagement, be it in goods, services, investments, all areas related to the economy," the minister noted. "All of this benefits 1.4 billion consumers." The India-EU FTA negotiations represent a significant step in strengthening economic ties between India and one of the world's largest trading blocs. The agreement aims to reduce trade barriers, enhance market access, and create new opportunities for businesses on both sides. With both economies showing complementary strengths and shared commitments to sustainability and gender equality, the successful conclusion of the FTA could mark a new chapter in India-Europe economic cooperation, potentially benefiting millions of consumers and businesses across both regions.
