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Economic Times
28 minutes ago
- Economic Times
Russian diplomat Babushkin 'quite hopeful' for India-Russia-China trilateral meet
Synopsis Russian diplomat Roman Babushkin expressed optimism about resuming the India-Russia-China trilateral dialogue, emphasizing its importance for regional stability amidst global challenges. He highlighted upcoming SCO summit engagements and dismissed narrow interpretations of the recent Russia-US summit in Alaska, stressing its broader aim of restoring diplomatic relations. ANI "Quite Hopeful": Russian diplomat Babushkin on India-Russia-China trilateral meet The Charge d'Affaires at the Russian Embassy in Delhi, Roman Babushkin, on Wednesday, expressed optimism about the resumption of the India-Russia-China trilateral format, describing it as a vital step toward regional stability. Speaking at a press briefing here in the national capital, Babushkin underscored the strategic importance of the dialogue, signalling hope for the revival of the trilateral format amid the growing global issues, particularly on the backdrop of the economic complexities due to the US's tariff imposition. "As far as the three-letter is concerned, we are quite hopeful that this format will be resumed sooner rather than later because its importance is not questioned. But we should wait until the right time comes. We would welcome these developments because they proved their efficiency when we had regular interaction at the ministerial level and even at the leaders' level," he stated."It is all about the regional stability of the region, which is mostly dependent on how the relations between the three countries, the largest countries in the region, Russia, India and China, are developing," he was referring to the RIC framework, initiated in the late 1990s among the three largest countries in the region. He also highlighted the upcoming diplomatic engagements in the Shanghai Cooperation Organisation (SCO) summit, which is scheduled to take place from August 31 to September 1 at Tianjin, China. "We are all preparing to attend the SCO summit at the highest political level. Recently, in the engagements with the Chinese Foreign Minister, the Indian side confirmed the participation of the Prime Minister's attendance at the summit. There are also reports that the EU is preparing for a bilateral meeting between Prime Minister Modi and President Putin," he on the recent Russia-US summit in Alaska on August 15, Babushkin dismissed speculation, calling it a "breakthrough development" in global cautioned against reducing the summit to a single issue, particularly the Russia-Ukirane conflict and stressed that the talks were broad in scope, aimed at restoring fractured diplomatic relations between the two global powers."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," he also mentioned reports, based on US President Trump's assessments, that suggested the US may reconsider imposing an additional 25 per cent tariff on India for New Delhi purchase of Russian oil; however, he noted that these reports were still unconfirmed."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.
Economic Times
an hour ago
- Economic Times
India-US officials discuss key issues of defence procurement, reaffirm commitment to partnership
Synopsis Indian and American defence officials convened in Delhi to discuss defence procurement, reinforcing their commitment to the India-US defence partnership. This meeting follows ongoing efforts to strengthen bilateral ties, including upcoming joint military exercises in Alaska and discussions on strategic military cooperation in the Indo-Pacific region. Both sides aim to enhance operational readiness and regional security coordination. ANI India-US officials discuss key issues of defence procurement, reaffirm commitment to partnership Indian and American defence officials held a meeting here in the national capital on Tuesday where they discussed key issues of defence procurement and affirmed their commitment towards further strengthening of the India-US defence partnership, as per the Ministry of Defence. Sharing the details in a post on X, the Ministry of Defence said, "Deputy Assistant Secretary of Defence (South & Southeast Asia), US DoD Dr Andrew Byers today met Joint Secretary (Maritime & Systems Acquisition) Shri Dinesh Kumar. They discussed key issues of defence procurement & reaffirmed commitment to further strengthen the India-US defence partnership". — SpokespersonMoD (@SpokespersonMoD) On August 14, during a weekly press briefing, the Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal spoke about the issue of India-US defence partnership. He told the press, "The India-U.S. defence partnership, underpinned by foundational defence agreements, is an important pillar of the bilateral partnership. This robust cooperation has strengthened across several domains. We are expecting a U.S. Defence Policy Team to be in Delhi in mid-August. The 21st edition of the joint military exercise - 'Yudh Abhyas' is also expected to take place later this month in Alaska. Both sides remain engaged to convene the 2+2 Intersessional meeting at the working-level towards the end of this month. As far as the question of defence acquisition is concerned, the procurement process continues as per established procedures." Previously, in July, the top defence officials from India and the United States held key bilateral talks during Exercise Talisman Sabre 2025, where they explored ways to deepen strategic military cooperation, regional security coordination, and operational readiness in the Indo-Pacific. The discussions focused on enhancing defence collaboration, including future operational opportunities and joint efforts to uphold peace and stability in the Indo-Pacific region, according to the Integrated Defence Staff.
Economic Times
an hour ago
- Economic Times
First 'Made in India' semiconductor chip likely by December: MoS Jitin Prasada
ANI First packaged chip expected to be out by December 2025: MoS Electronics & IT Jitin Prasada The first-ever 'Made in India' semiconductor chips is expected to roll out of the assembly lines by the end of 2025, Jitin Prasada, Minister of State for Electronics and Information Technology, said. "The first packaged chip is expected to be out by December, 2025," the Minister said in response to a questionnaire from ANI, besides underlining the status of India's nascent yet progressing semiconductor ecosystem. The government has laid a pathway towards an India that will build chips for the world, aligned across the supply chain, from assembly/testing to design, and manufacturing to exports, the minister said. The government has approved the Semicon India programme with a total outlay of Rs 76,000 crore for the development of the semiconductor and display manufacturing ecosystem in the country It provides fiscal support of 50% of the project cost on pari-passu basis for setting up of Silicon Complementary Metal-Oxide-Semiconductor (CMOS) based Semiconductor Fabs in India, fiscal support of 50% of project cost on pari-passu basis for setting up of Display Fabs; fiscal support of 50% of the capital expenditure on pari-passu basis for setting up of Compound Semiconductors / Silicon Photonics (SiPh) / Sensors (including Micro-Electro-Mechanical Systems) Fab/ Discrete Semiconductor Fab and Semiconductor Assembly, Testing, Marking and Packaging (ATMP) / Outsourced Semiconductor Assembly and Test (OSAT) facilities, the minister outlined. As on date, the government has approved 10 semiconductor manufacturing projects with a cumulative investment of more than Rs 1.60 lakh crore in 6 states - Gujarat, Assam, Uttar Pradesh, Punjab, Odisha, and Andhra Pradesh."The approved projects are under various phases of implementation and are expected to start commercial production in 1-5 year time frame," he said in his response, without getting into specifics of each project. These projects, according to the minister, are expected to generate more than 29,000 direct jobs, depending on the maturity of factory automation. Further, to strengthen semiconductor manufacturing, and creating a semiconductor ecosystem in the country, the government has entered into Memorandum of Understanding (MoU) with the US, European Union, Japan and Singapore. Semiconductor manufacturing is a very complex and a Technology intensive sector which requires specialised skilled manpower. To address this, a new curriculum was introduced by the All India Council for Technical Education (AICTE) for VLSI Design and Technology, Integrated Circuit (IC) government is also shaping skilled manpower in the semiconductor design sector and providing EDA tools to design semiconductor chips, the minister said.A 'Design Linked Incentive (DLI) Scheme' was also approved as part of the Semicon India Programme with an overall outlay of Rs 1000 Crore to nurture the entrepreneurship ecosystem by way of encouraging and supporting the design and deep tech start-ups involved in the semiconductor design ecosystem in the country."So far, 72 design companies (including start-ups and MSMEs) have been approved for semiconductor chip design infrastructure support under the DLI Scheme. Out of these, 23 companies have also been approved for P-DLI for developing semiconductor chip/ SoCs for applications in sectors such as automotive, mobility, computing, communications companies are developing semiconductor IP cores, chips, SoCs, and systems to serve the Indian market as an import substitute and for export to international markets," the minister noted. In another query regarding the progress made by the government on the AI mission front, the minister shared a status note, outlining the advances made in this emerging technology. In March 2024, the Government of India approved the IndiaAI Mission to build a precise and cohesive strategy for the AI ecosystem, catalysing AI innovation through strategic programs and partnerships across the public and private sectors. The IndiaAI Mission comprises 7 pillars: IndiaAI Compute, IndiaAI Application Development Initiative, AIKosha, The IndiaAI Foundation Models, IndiaAI FutureSkills, IndiaAI Startup Financing, and Safe and Trusted Minister further apprised that India is also set to host the upcoming Artificial Intelligence (Al) Impact Summit in February 2026, focusing on the impact of AI on People, Planet, and Progress and is the fourth in a series of global AI summits. Focus group consultations with civil society, industry, startups, academia, and international organisations have been completed, along with a round of public consultation that concluded on June 30th. A call for proposals from organizations worldwide has been launched to host affiliated pre-summit events from August 11, 2025, to January 31, 2026, the minister further said. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. 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