
India on way to 3rd biggest economy: PM Modi after Trump's 'dead economy' remark
'There is an atmosphere of global instability. All countries are focusing on their individual interests. India is going to become the third biggest economy in the world and that is why India will have to stay alert as far as its economic interests are concerned,' PM Modi said at a rally in Varanasi.He added, 'Our government is doing everything it can in the best interest of the country... Those who want the best for the country and want to see India as the third biggest economy in the world, be it any political party, should leave their differences aside and instil a resolution for 'swadeshi' products'.'We will buy only those things that are made by Indians. We need to become vocal for local,' the Prime Minister stressed. On July 31, a day after imposing sweeping trade penalties and a 25 per cent tariff on nearly all imports from India, Trump launched a scathing attack on New Delhi's ties with Moscow, dismissing both nations as 'dead economies' and bluntly stating that he 'does not care' what India does with Russia."I don't care what India does with Russia. They can take their dead economies down together, for all I care," he posted on social media.PM WARNS PAKISTANAt the Varanasi rally, Prime Minister Modi launched a scathing attack on Pakistan and warned terror elements that they would not be spared, even if they sought refuge in paatal lok."When there is injustice and terror in front, Mahadev adorns his 'Rudra roop'. The world saw this face of India during Operation Sindoor. Anyone who messes with India will not be spared even in 'pataal lok'," he said. HITS OUT AT OPPOSITIONPM Modi hit out at the Opposition, saying the Congress and its allies can't digest that India destroyed terror hideouts in Pakistan during Operation Sindoor."Everyone understands that Pakistan is upset. But the Congress and the Samajwadi Party cannot handle the pain that Pakistan is going through. Pakistan is crying, and here, the Congress and SP are crying, seeing the condition of terrorists. Congress is constantly insulting the valour of our forces and has called Operation Sindoor a 'tamasha'," the Prime Minister said.advertisementHe further alleged, "In this politics of votebank and appeasement, Samajwadi Party is no less. Their leaders were questioning why the Pahalgam terrorists were killed on this particular day? Should I call and ask them before taking any action? Anyone with common sense should be able to answer. Do we need to wait to kill terrorists? Should we have given them a chance to flee?"The Prime Minister also accused the Congress of giving a clean chit to terrorists during its time in power.- EndsMust Watch
IN THIS STORY#Narendra Modi#Donald Trump
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The Hindu
10 minutes ago
- The Hindu
India will continue to buy Russian oil, government sources tell NYT
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NDTV
15 minutes ago
- NDTV
Trump's Tariffs Leave A Lot Of Losers. But Even Winners Will Pay A Price
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Trump retreated temporarily after his Liberation Day announcement triggered a rout in financial markets and suspended the reciprocal tariffs for 90 days to give countries a chance to negotiate. Eventually, some of them did, caving to Trump's demands to pay what four months ago would have seemed unthinkably high tariffs for the privilege of continuing to sell into the vast American market. The United Kingdom agreed to 10% tariffs on its exports to the United States, up from 1.3% before Trump amped up his trade war with the world. The US demanded concessions even though it had run a trade surplus, not a deficit, with the UK for 19 straight years. The European Union and Japan accepted US tariffs of 15%. Those are much higher than the low single-digit rates they paid last year, but lower than the tariffs he was threatening (30% on the EU and 25% on Japan). Also, cutting deals with Trump and agreeing to hefty tariffs were Pakistan, South Korea, Vietnam, Indonesia and the Philippines. Even countries that saw their tariffs lowered from April without reaching a deal are still paying much higher tariffs than before Trump took office. Angola's tariff, for instance, dropped to 15% from 32% in April, but in 2022 it was less than 1.5%. And while the Trump administration cut Taiwan's tariff to 20% from 32% in April, the pain will still be felt. "20% from the beginning has not been our goal, we hope that in further negotiations we will get a more beneficial and more reasonable tax rate," Taiwan's president Lai Ching-te told reporters in Taipei Friday. Trump also agreed to reduce the tariff on the tiny southern African kingdom of Lesotho to 15% from the 50% he'd announced in April, but the damage may already have been done there. Countries that didn't knuckle under - and those that found other ways to incur Trump's wrath - got hit harder. Even some of the poor were not spared. Laos' annual economic output comes to $2,100 per person and Algeria's $5,600, versus America's $75,000. Nonetheless, Laos got rocked with a 40% tariff and Algeria with a 30% levy. Trump slammed Brazil with a 50% import tax largely because he didn't like the way it was treating former Brazilian President Jair Bolsonaro, who is facing trial for trying to overturn his electoral defeat in 2022. Never mind that the US has exported more to Brazil than it's imported every year since 2007. Trump's decision to plaster a 35% tariff on longstanding US ally Canada was partly designed to threaten Ottawa for saying it would recognize a Palestinian state. Trump is a staunch supporter of Israeli Prime Minister Benjamin Netanyahu. Switzerland was clobbered with a 39% import tax, even higher than the 31% Trump originally announced on April 2. "The Swiss probably wish that they had camped in Washington'' to make a deal, said Wolff, now senior fellow at the Peterson Institute for International Economics. 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And that will impose a $2,400 cost on the average household, the lab estimates. "The US consumer's a big loser, Wolff said.


Time of India
33 minutes ago
- Time of India
Jagdeep Dhankar forced out by government as he decided to go by book: Mallikarjun Kharge
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