Latest news with #IndiaUS
Times of Oman
3 days ago
- Business
- Times of Oman
"Going very well": Piyush Goyal on negotiations between India, US to double bilateral trade
New Delhi: Indian Union Commerce and Industry Minister Piyush Goyal on Thursday said that the negotiations to double bilateral trade between India and the United States (US) to 500 billion dollars were going "very well." "During their meeting in February, PM Narendra Modi and President Donald Trump decided on a good bilateral trade agreement, in the best interest of both countries, which enables bilateral trade to reach $500 billion. We will work to make it negotiations are going on very well," Goyal told reporters here. The Union Minister further stated that India never interferes with the internal affairs of other countries and intends to have good economic ties with developed countries to create new opportunities for the youth and farmers. "India never interferes with the internal matters of other wants good economic ties with the developed countries so that new opportunities are developed for our youth, farmers, and employed classes," Goyal said. He said that the centre was working towards creating additional opportunities for startups and skilled manpower, including doctors and nurses. "We are dedicated to creating more opportunities for our startups, skilled manpower, doctors, and nurses by making good and balanced agreements with the developed countries of the world, like the free trade agreement and mobility agreements," Goyal added. Meanwhile, Goyal asserted that Operation Sindoor brought the entire nation together and also became a symbol of Aatmnirbhar Bharat (self-reliant India). He said it became a defining moment for the country's defence manufacturing capabilities under the major India program, showcasing India's capabilities before the world. "Operation Sindoor not only brought the whole nation together but also became a symbol of Aatmanirbhar Bharat. It became a defining moment for our defence manufacturing capabilities under the major India programme, showing the world what India can do, and also demonstrated to the world that India is a responsible nation," Goyal said.
Economic Times
21-05-2025
- Business
- Economic Times
Can Sensex hit 1 lakh in 1 year? Morgan Stanley gives new target
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel While describing the drawdown in Indian stocks from September 2024 high as an opportunity to buy India's long-term story, global brokerage firm Morgan Stanley has given a new target of 89,000 for Sensex by June 2026 in its base case scenario. And in the bull case scenario, of which there is a 30% probability, the brokerage says the headline index can hit 1 lakh as well."Our new Sensex June 2026 target of 89,000 (8% upside) bakes in our new earnings estimates and is also rolled forward from the December 2025 target of 82,000," Morgan Stanley's equity strategist Ridham Desai said, adding that this level suggests that the Sensex would trade at a trailing P/E multiple of 23.5x, ahead of the 25-year average of premium over the historical average reflects greater confidence in the medium-term growth cycle in India, India's lower beta, a higher terminal growth rate, and a predictable policy the latest equity strategy note, Morgan Stanley has built in a 50% chance of Sensex hitting 89,000 (base case scenario) assuming robust domestic growth, slow growth in the US but no recession, benign oil prices."In our base case, we also assume a benign IndiaUS trade deal. We use another 50bps reduction in short-term interest rates and a positive liquidity environment as the base case for monetary policy. We do not anticipate a bunching of issuances, and the retail bid keeps its nose ahead of the supply. Sensex earnings compound at 16.8% annually through F2028," it Sensex to hit 1 lakh in the next 12 months, oil prices need to remain persistently below the $65, GST rate cuts, progress on farm laws, earnings growth CAGR at 19% and relief from global trade war."Despite all the events of the past two months, Indian stocks remained orderly even when they declined with limited increase in implied volumes. Persistent retail buying underpins its structural nature. Foreign portfolios positioning is the weakest since we have had the data in 2000 and there are signs that their view on India is shifting," Desai far as the portfolio strategy in India is concerned, the brokerage is overweight financials , consumer discretionary, and industrials; underweight energy, materials, utilities, and healthcare."This is likely to be a stock pickers' market, in contrast to one driven by top-down or macro factors since the Covid pandemic. Thus, our average active sector position is just 80bps. We are capitalization-agnostic," he said.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
21-05-2025
- Business
- Time of India
Can Sensex hit 1 lakh in 1 year? Morgan Stanley gives new target
While describing the drawdown in Indian stocks from September 2024 high as an opportunity to buy India's long-term story, global brokerage firm Morgan Stanley has given a new target of 89,000 for Sensex by June 2026 in its base case scenario. And in the bull case scenario, of which there is a 30% probability, the brokerage says the headline index can hit 1 lakh as well. "Our new Sensex June 2026 target of 89,000 (8% upside) bakes in our new earnings estimates and is also rolled forward from the December 2025 target of 82,000," Morgan Stanley's equity strategist Ridham Desai said, adding that this level suggests that the Sensex would trade at a trailing P/E multiple of 23.5x, ahead of the 25-year average of 21x. The premium over the historical average reflects greater confidence in the medium-term growth cycle in India, India's lower beta, a higher terminal growth rate, and a predictable policy environment. In the latest equity strategy note, Morgan Stanley has built in a 50% chance of Sensex hitting 89,000 (base case scenario) assuming robust domestic growth, slow growth in the US but no recession, benign oil prices. "In our base case, we also assume a benign IndiaUS trade deal. We use another 50bps reduction in short-term interest rates and a positive liquidity environment as the base case for monetary policy. We do not anticipate a bunching of issuances, and the retail bid keeps its nose ahead of the supply. Sensex earnings compound at 16.8% annually through F2028," it said. For Sensex to hit 1 lakh in the next 12 months, oil prices need to remain persistently below the $65, GST rate cuts, progress on farm laws, earnings growth CAGR at 19% and relief from global trade war. "Despite all the events of the past two months, Indian stocks remained orderly even when they declined with limited increase in implied volumes. Persistent retail buying underpins its structural nature. Foreign portfolios positioning is the weakest since we have had the data in 2000 and there are signs that their view on India is shifting," Desai said. As far as the portfolio strategy in India is concerned, the brokerage is overweight financials , consumer discretionary, and industrials; underweight energy, materials, utilities, and healthcare. "This is likely to be a stock pickers' market, in contrast to one driven by top-down or macro factors since the Covid pandemic. Thus, our average active sector position is just 80bps. We are capitalization-agnostic," he said. Also read | Hunting for stocks to buy? 36 top bets from 8 portfolios that ruled April ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Times of Oman
16-05-2025
- Business
- Times of Oman
"Any trade deal must be mutually beneficial," EAM Jaishankar on India-US trade talks
New Delhi: External Affairs Minister S Jaishankar on Thursday confirmed that trade negotiations between India and the United States are actively underway, but noted that the process remains intricate and far from final. Emphasising the importance of mutual benefit, he cautioned against premature conclusions. "Between India and the US, trade talks have been going on, negotiations have been going on. The team is just going at it at this point... These are very complicated negotiations; they are very intricate. Nothing is decided till everything is. Any trade deal has to be mutually beneficial; any trade deal has to work for both the countries. That would be our expectation from the trade deal. Until that is done, any judgment on it would be premature," Jaishankar said. His comments come on the same day as US President Donald Trump linked the recent India-Pakistan ceasefire to a shift in focus from conflict to commerce. Addressing American troops at a base in Doha during a Gulf tour, Trump said both New Delhi and Islamabad responded positively to his suggestion to pursue trade instead of hostility. "I don't want to say I did, but I sure as hell helped settle the problem between Pakistan and India last week, which was getting more and more hostile, and all of a sudden, you'll start seeing missiles of a different type, and we got it settled," Trump said. "I hope I don't walk out of here and two days later find out that it's not settled, but I think it is settled, and we talked to them about trade. Let's do trade instead of, and Pakistan was very happy with that, and India was very happy with that, and I think they're on the way..." Trump also made a broader reference to the long history of India-Pakistan tensions, saying, "They have been fighting for about a 1000 years in all fairness. So I said, you know. I could settle that up. I could settle; let me settle it up, and let's get them all together. How long have you been fighting for about 1000 years? Oh, that's a lot. I'm not sure about that. I'm not sure about settling. That's a tough one. They've been fighting for a long time... It was really going to be escalating out of control." The cessation of hostilities Trump referred to followed heightened tensions after Operation Sindoor, launched by India in the early hours of May 7. The operation targeted nine terror sites in Pakistan and Pakistan-occupied Jammu and Kashmir (PoJK), in retaliation for the May 5 terror attack in Pahalgam. India and Pakistan reached an understanding on the cessation of hostilities on May 10.
Yahoo
09-05-2025
- Business
- Yahoo
Exclusive-India offers to slash tariff gap by two-thirds in dash to seal trade pact with Trump
By Shubham Batra, Shivangi Acharya and Ira Dugal NEW DELHI (Reuters) -India has offered to slash its tariff gap with the U.S. to less than 4% from nearly 13% now, in exchange for an exemption from President Donald Trump's "current and potential" tariff hikes, two sources said, as both nations move fast to clinch a deal. This would mean that the average tariff differential between India and the U.S., calculated across all products without weighting for trade volume, would be reduced by 9 percentage points, in one of the most sweeping changes to bring down trade barriers in the world's fifth largest economy. The United States is India's largest trading partner, with bilateral trade totalling some $129 billion in 2024. The trade balance is currently in favour of India, which runs a $45.7 billion surplus with the U.S. Trump announced on Thursday his administration's first "breakthrough deal" with Britain. It lowers average British tariffs on U.S. goods but keeps in place the 10% base tariff imposed by Washington on British goods, likely setting a template for Washington's approach with other trading partners. Last month, Trump announced a 90-day pause on his long-planned reciprocal tariffs on global trading partners, including a 26% tariff on India, while his administration negotiates trade deals. A 10% base tariff continues to apply to India and many other nations during the pause. After the UK, India and Japan are the next two nations in line to finalise a deal, a third Indian government official said. "We will see which one crosses the line first." To achieve this, New Delhi has offered to reduce duties to zero on 60% of the tariff lines in the first phase of the deal which is under negotiation, said the first two sources, both Indian government officials familiar with the matter. India has offered preferential access to nearly 90% of goods imported from the United States, including the reduced tariffs, one of the two officials said. Details of India's offer to slash the tariff gap and what it has asked the U.S. in return have not been previously reported. A delegation of Indian officials is likely to visit the U.S. later this month to take the negotiations forward, a fourth official said, adding that India's trade minister, Piyush Goyal, might visit too but his plans were not finalised. All four government officials did not wish to be identified as details of the negotiations are private and sensitive. India's trade ministry, which is leading talks, did not respond to a request for comment. PREFERENTIAL ACCESS Alongside tariff exemptions, India has also asked for preferential market access for key export sectors including gems and jewellery, leather, apparel, textiles, plastics, chemicals, oilseeds, shrimp, and horticultural produce such as bananas and grapes. "Preferential market access for India would mean better terms of trade for these goods compared to America's other trading partners," the first official said. India is also looking for concessions that would give it an edge over competitors in supplying "products of interest", the official added. However, India's expectation of being exempted completely from tariffs on its exports is at odds with the deal struck between the U.S. and Britain. To make the deal more attractive for Washington, India has offered to ease export regulations on several high-value U.S. exports, the first official said. These include aircraft and parts, luxury cars and electric vehicles, telecom equipment, medical devices, hydrocarbons, wines and whiskey, berries, prunes, certain chemicals, and animal feed. Beyond tariffs, India has also asked the U.S. to treat it at par with other top U.S. allies such as Britain, Australia and Japan in critical technology sectors such as AI, telecoms, biotech, pharmaceuticals, and semiconductors. Washington's desire to share critical technologies with allies like India has often faced hurdles due to the U.S. government's own restrictive rules. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
