Study feasibility of trade in local currency, says PM Modi’s Bimstec action plan
Friday, 4 April 2025 Prime Minister Narendra Modi introduced a 21-point plan at the Bimstec summit to boost regional connectivity, trade, and security. Proposals include a feasibility study on local currency trade and UPI connectivity. Modi emphasized enhanced security cooperation, disaster management, and the establishment of a Sustainable Maritime Transport Centre and Bimstec Chamber of Commerce.
In a major move, President Trump announces a comprehensive trade plan that spares Canada from reciprocal tariffs, signaling a shift in the US's approach to its neighbor. The new strategy aims to reshape international trade relations, offering Canada special treatment while introducing...
India has reportedly declined a U.S. offer to buy F-35 stealth fighter jets, according to Bloomberg. The offer was made by President Trump during Prime Minister Modi’s visit to Washington in February. Instead of purchasing American jets, India is prioritizing joint defense manufacturing initiatives and has shown greater interest in the Russian Su-57, especially after its debut at Aero India.
The Indian Ministry of External Affairs downplayed Bloomberg’s report, confirming no formal talks on the F-35 have taken place yet. Meanwhile, the U.S. has slapped 25% tariffs on Indian imports due to a failed trade deal, escalating tensions. Trump also announced India would face a penalty over its continued defense ties with Russia. This deepening rift could impact U.S.-India defense cooperation and reshape future arms procurement.
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Friday, 4 April 2025
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