Latest news with #TechnologicalandCulturalCooperation
India.com
5 days ago
- Business
- India.com
Massive setback for US President Trump as India-Russia come together on critical..., Trump would be angry because...
Russian President Putin and PM Modi- File image India-Russia relations: In a massive update on India-Russia relations and a matter of bad news for US President Donald Trump, an official statement released by both the countries has declared that India and Russia are exploring opportunities in rare earth and critical minerals extraction, underground coal gasification, and creation of modern industrial infrastructure. Notably, the issue of critical minerals has been in news recently due to China's 'undeclared' restriction on its exports. What has been discussed under India-Russia Working Group? The issue came up for discussions during the India-Russia Working Group on Modernization and Industrial Cooperation meeting, which was held here under the framework of the India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation. Why Critical minerals are important for global development? Critical minerals such as copper, lithium, nickel, cobalt and rare earth are essential raw materials required to fuel the growth of rapidly-growing clean energy technologies and their expanding uses ranging from wind turbines and electricity networks to electric vehicles and battery manufacturing. As per a report by news agency PTI, the commerce and industry ministry said the key focus areas included cooperation in aerospace science and technology, including the establishment of a modernized wind tunnel facility, production of small aircraft piston engines, and joint development in carbon fibre technology, additive manufacturing, and 3D printing. 'Both sides also explored opportunities in rare earth and critical minerals extraction, underground coal gasification, and creation of modern industrial infrastructure,' it said. US President Trump threatens 100 pc tariffs on semiconductors, chips In another significant development, US President Donald Trump announced plans to impose a 100 per cent tariff on all imported semiconductors and chips in order to strengthen domestic production. 'A 100 per cent tariff (will be imposed) on all chips and semiconductors coming into the US. But if you've made a commitment to build (in the US), or if you're in the process of building (in the US), as many are, there is no tariff,' the President said during a meeting in the Oval Office with Apple CEO Tim Cook. (With inputs from agencies)
Hindustan Times
5 days ago
- Business
- Hindustan Times
Russian Prez Putin to visit India for annual summit, but dates not finalised yet
NEW DELHI: A specific timeframe has not been finalised for Russian President Vladimir Putin's proposed visit to India for an annual summit, people familiar with the matter said on Thursday. Prime Minister Narendra Modi receives Russian President Vladimir Putin for a meeting at Hyderabad House in New Delhi in December 2021. (PTI FILE IMAGE) Putin's visit figured during National Security Adviser Ajit Doval's meetings with senior Russian officials in Moscow on Thursday. Russia's state-run media inaccurately cited Doval as saying that Putin would travel to India in late August, the people said on condition of anonymity. 'The NSA, during his visit to Moscow, said that the dates of President Putin's visit to India are being worked out,' one of the people cited above said. 'The time of end-August being reported is incorrect,' the person said. Doval did not indicate a specific date or time during his engagements in Moscow, the people said. Putin is expected to travel to India this year for the annual India-Russia Summit, following Prime Minister Narendra Modi's visit to Moscow for the summit in 2024. Though the two sides have been involved in initial preparations for the visit, they have so far not finalised any specific timeframe for the trip, the people said. Doval is in Moscow for meetings with senior Russian officials to strengthen security and economic ties. The trip had been scheduled earlier but gained importance following US President Donald Trump's decision on Wednesday to impose an additional 25% punitive tariff on India for purchasing Russian oil. External affairs minister S Jaishankar is also expected to travel to Russia in the third week of August for a meeting of the India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC), the primary mechanism for overseeing trade and economic cooperation.
Hindustan Times
6 days ago
- Business
- Hindustan Times
India, Russia now explore opportunities in rare earth, critical minerals
NEW DELHI: India and Russia are actively exploring opportunities in rare earth and critical minerals, as well as coal gasification and cooperation in aluminium and fertiliser sourcing, despite the US imposing punitive tariffs on Indian goods for doing business with Moscow. The session was co-chaired by secretary, DPIIT Amardeep Singh Bhatia, and from the Russian side by deputy minister of Industry and Trade of the Russian Federation, Alexey Gruzdev (PIB) Indi and Russian officials on Wednesday held the 11th session of the working group on modernisation and industrial cooperation in the Indian capital under the framework of the India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation, the commerce and industry ministry said in a statement. The meeting reviewed the progress made since the 10th session and provided a platform to strengthen cooperation across key sectors, the statement said. 'Discussions included updates from the sub-groups on modernisation, mining, fertilisers, and railway transport, as well as emerging areas of collaboration,' it added. Key focus areas included cooperation in aerospace science and technology, including the establishment of a modernised wind tunnel facility, production of small aircraft piston engines, and joint development in carbon fibre technology, additive manufacturing, and 3D printing, it said. 'Both sides also explored opportunities in rare earth and critical minerals extraction, underground coal gasification, and creation of modern industrial infrastructure,' it added. The session was co-chaired by department for promotion of industry and internal trade (DPIIT) secretary Amardeep Singh Bhatia and Russian deputy minister of industry and trade Alexey Gruzdev. The two sides welcomed enhanced engagement in aluminium, fertilisers, and railway transport, alongside capacity building and technology transfer in mining sector equipment, exploration, and industrial and domestic waste management, the ministry said. The meeting concluded with the signing of the Protocol of the 11th session by both co-chairs, reaffirming the strategic India-Russia partnership and shared commitment to deepen industrial and economic cooperation. The session saw participation from around 80 delegates representing both sides, including senior government officials, domain experts, and representatives from industry.
Hindustan Times
13-06-2025
- Politics
- Hindustan Times
Russian foreign minister Lavrov calls off planned visit to India
New Delhi: Russian foreign minister Sergey Lavrov has called off a planned visit to India this month, which was meant to prepare for President Vladimir Putin's trip to the country, because of scheduling issues, people familiar with the matter said. Lavrov was expected to be in New Delhi around June 16 for talks with his Indian counterpart S Jaishankar, the people said on condition of anonymity. However, a belated invitation from Canada for Prime Minister Narendra Modi to attend the G7 Summit on June 17 has meant that Jaishankar is now expected to travel with the Prime Minister next week, the people said. No alternative dates have been firmed up for the visit by Lavrov, who would have been the first senior leader from a permanent member of the UN Security Council to travel to New Delhi after last month's military clashes between India and Pakistan. A time frame for Putin's visit for the annual India-Russia Summit too is yet to be finalised, though the trip looks unlikely in the next two months, the people said. Besides preparing for Putin's trip, Lavrov's visit would have been an opportunity for India and Russia to take stock of bilateral relations at a senior level. The two countries are set to hold meetings of two key bilateral bodies - the Inter-Governmental Commission on Military Technical Cooperation and the Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation - in the coming months. The people said these meetings continue to be on track. While the military commission will meet in India, the trade and economic panel will meet in Russia this year. Military cooperation between India and Russia has remained strong despite New Delhi's recent efforts to diversify sources of military hardware. Russian-origin weapons systems, especially the BrahMos cruise missile jointly developed by India and Russia, played a key role in the recent clashes with Pakistan. Putin's planned visit to India will be the first since Russia invaded Ukraine in early 2022. Modi travelled to Russia twice in 2024 - first for the annual summit and then to participate in the Brics Summit in Kazan. The two leaders are also expected to meet if they both travel to Brazil for the Brics Summit in July. However, US secretary of commerce Howard Lutnick recently criticised India's continuing purchases of Russian military hardware and its involvement in Brics primarily because of calls by several members of the grouping to reduce dependence on the US dollar. Speaking at the US-India Strategic Partnership Forum Leadership Summit, Lutnick said some of the Indian government's actions have 'rubbed the US the wrong way'. He added, 'For instance, you generally buy your military gear from Russia. That's a way to…get under the skin of America, if you go to buy your armaments from Russia.'
