Indian Army uses new DRDO laser to neutralise Chinese drone near LoC:-ET

 

A Chinese-origin drone, reportedly operated by the Pakistan Army, was brought down near the Line of Control in Jammu by the Indian Army using an indigenous anti-drone system.

Defence sources confirmed that the drone was spotted near Indian territory in the 16 Corps area, south of the Pir Panjal ranges. Army Air Defence units responded quickly. The unmanned aerial vehicle was intercepted using the Integrated Drone Detection and Interdiction System, designed and developed entirely in India.

The system, which can jam signals, spoof drone navigation, and destroy aerial targets, has been deployed in large numbers along the country’s borders. In this instance, it was decisive.

A homegrown solution to modern threats

The Integrated Drone Detection and Interdiction System was built by the Defence Research and Development Organisation (DRDO), India's top defence R&D agency.

At its core is a 2-kilowatt laser beam that can shoot down drones from a range of 800 to 1,000 metres. It also supports other methods of disruption, making it adaptable to a wide range of threats.

Currently, it is used by the Indian Army and other security forces to counter increasing incursions by enemy drones along the LoC and international borders.

India’s new laser weapon system now combat-ready

While the anti-drone laser system is already in the field, DRDO has also unveiled a much larger breakthrough: a 30-kilowatt directed-energy weapon system that can neutralise fixed-wing aircraft, swarm drones, and even incoming missiles.

— ANI (@ANI)

This laser-based system has now entered the stage of production and deployment across military platforms, after successful trials. With this achievement, India joins a small club of nations — including the United States, China, and Russia — who possess such high-powered laser weapons.

Dr Samir V Kamat, Chairman of DRDO, said, "This is just the beginning of the journey. The synergy that this lab has achieved with other DRDO labs, industry and academia, I am sure we will reach our destination soon... We are also working on other high energy systems like high energy microwaves, electromagnetic pulse. So we are working on a number of technologies that will give us Star Wars capability. What you saw today was one of the components of Star Wars technologies."

— ANI (@ANI)

He added, "As far as I know, it is the United States, Russia and China that have demonstrated this capability. Israel is also working on similar capabilities, I would say we are the fourth or fifth country in the world to demonstrate this system."

Dr Jagannath Nayak, Director of the Centre for High Energy System, and Sciences (CHESS), DRDO says, "Whatever we have achieved today is a great success, and we have seen that we have neutralised fixed-wing aircraft at long range and then we have also seen that we have neutralised swarm drone... with the laser weapon, we can neutralise multiple targets. So, this is one of the new and emerging weapon systems. It is a massless weapon and the concentration of laser light falls on the target and neutralises it. So this is an achievement for our country and DRDO..."

Combat features and deployment

The 30-kilowatt system is built to take down aerial threats such as drones and helicopters within a 5-kilometre range. It integrates electronic warfare capabilities that can jam both communication and satellite signals, adding another layer of tactical edge.

It can be mounted on ground-based units or adapted for use on naval platforms. The system includes a 360-degree Electro-Optical/Infrared (EO/IR) sensor, which allows precise targeting. It can also be rapidly deployed by air, rail, road, or sea — offering flexibility across terrains and operational theatres.

Next in line: The 300-kilowatt "Surya" laser

India's laser weapon journey doesn’t stop with 30 kilowatts. Work is underway on a more powerful 300-kilowatt system known as "Surya".

Designed to counter high-speed aerial threats such as incoming missiles and unmanned aerial systems, this system is expected to have an effective range of up to 20 kilometres.

The development aligns with global trends where militaries are investing heavily in high-powered lasers to protect airspace and installations from fast-evolving drone warfare and precision missile systems.

Strategic significance

India's advancements in directed-energy weapons come at a time of heightened regional tensions and increasing drone activity along its borders. The use of a Chinese-origin drone by Pakistan highlights the growing complexity of cross-border surveillance and intrusion tactics.

The successful use of DRDO’s anti-drone system and the unveiling of its advanced laser weaponry point to a shift in how India plans to secure its airspace—relying more on homegrown, high-tech systems to deal with emerging threats.

As defence officials monitor further drone movements, India’s new tools of deterrence are no longer just experimental. They're in the field—ready and in action.

New rating may fetch Vodafone Idea some credit Read more at: https://telecom.economictimes

 

Kolkata: Vodafone Idea's credit rating has improved a notch to BBB- from the earlier BB+, which is set to boost the telco's prospects of concluding its pending ₹25,000 crore debt raise, company executives and ratings experts said.

On Friday, ratings agency ICRA assigned an improved BBB- credit rating to Vi's long-term fund facilities, compared to the previous BB+ assigned by CARE Ratings in June 2024."With the company now coming back into the investment grade rating, which is the requirement for the banks to provide funding, the debt funding discussions should now progress in the right direction," a Vi spokesperson said in a written response to ET.

Read more at:
https://telecom.economictimes.indiatimes.com/news/industry/new-rating-may-fetch-vodafone-idea-some-credit/120221897?utm_source=top_story&utm_medium=homepage

Tahawwur Rana, extradited from US for his role in 26/11, reaches Delhi today He will face trial and punishment, extradition big success of Govt: Amit Shah:-The Indian Express

 

Indian security agencies braced for the arrival Thursday of Tahawwur Rana, being extradited from the US nearly 16 years after his arrest for his role in the 26/11 Mumbai terror attacks.

On Wednesday evening, the Nayayik Abhiraksha Vahini of Delhi Police was asked by the National Investigation Agency (NIA) to send a jail van, along with pilot escorts, to the airport around 7 am Thursday, ahead of Rana’s arrival.

The Delhi Police Special Cell has been placed on alert and SWAT commandos have already been deployed at the airport.A team of three senior officers of the NIA, along with three intelligence officials, reached the US Sunday to obtain custody of Rana, sources in the Ministry of Home Affairs said.

The source said the team obtained Rana’s custody and he would be reaching Delhi Thursday. It is likely that he will be placed under judicial custody in Tihar Jail.

“The Nayayik Abhiraksha Vahini, which ferries jail inmates from prison to courts, has been asked to send its personnel to the airport. Initially, it was told to send a team around 4 am, but that was later changed to 7 am,” the source said.

“A jail van along with pilot escorts, comprising police personnel, have been asked to reach the airport by 7 am. The South District police have made extra security deployment near the NIA headquarters in Pragati Vihar,” the source said.Also Wednesday, Union Home Minister Amit Shah held a meeting with External Affairs Minister S Jaishankar and National Security Advisor Ajit Doval to discuss the preparations.

A source said Director of Intelligence Bureau Tapan Deka, Foreign Secretary Vikram Misri and NIA Director Sadanand Date were also present at the meeting.

In the evening, Shah, speaking at the News18 Rising Bharat Summit, called the extradition of Rana a big success of the Modi government.

“Rana’s extradition is a big success of Prime Minister Modi’s diplomacy. The Modi government’s effort is to bring to justice those who attack India’s honour, land and people. He will be brought here to face trial and punishment. It is a big success of the Modi government,” he said.Taking a swipe at the Congress without naming it, Shah said those who were at the helm at the time of the Mumbai terror attack in 2008 could not bring Rana to India to face trial.

Late at night, the MHA issued a gazette notification, appointing a Special Public Prosecutor for conducting trial for three years. “In exercise of the powers conferred by sub-section (1) of section 15 of the National Investigation Agency Act, 2008 (34 of 2008), read with sub-section (8) of section 18 of the Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS), the Central Government hereby appoints Narender Mann, Advocate, as Special Public Prosecutor for conducting trial and other matters related to NIA case RC-04/2009/NIA/DLI on behalf of the NIA before the NIA Special Courts at Delhi and Appellate Courts, for a period of three years from the date of publication of this notification or till the completion of trial of the said case, whichever is earlier,” it stated.Earlier this month, the US Supreme Court denied Rana’s application seeking a stay on his extradition to India.

The Indian team, sources said, left for the US after getting confirmation of a ‘surrender warrant’ — it’s a requirement for the surrender of a fugitive criminal to a foreign state.

According to sources, once Rana reaches Delhi, he is likely to be sent to judicial custody — he will be produced before a court via a video link.

“There is no formal communication to the Tihar Jail administration, but they have also started a security assessment of his cell; they are likely to lodge him in a high-security ward. His cell will have CCTV cameras with in-built bathroom facilities, and they will monitor his activities 24×7,” the sources said.

Rana, 64, who is of Pakistani origin, has been at the Metropolitan Detention Center in Los Angeles. He is an associate of Lashkar-e-Taiba scout David Coleman Headley, one of the main conspirators of the 26/11 attack.

India gets a 90-day breather on reciprocal tariffs; Goyal assures exporters of ‘right mix and right balance’ in proposed trade deal with US The sharply high tariffs on China could provide a comparative advantage for India, as businesses based in China may now look to shift operations to countries with lower tariff regimes, such as India.;-The Indian Express

 India’s strategy of initiating talks for a bilateral trade agreement (BTA) with the US, along with its restraint in not retaliating against US tariffs, appears to have paid off, as US President Donald Trump Wednesday paused reciprocal tariffs on 75 countries, including India, while imposing a steep 125 per cent tariff on China in response to its retaliatory measures.

The sharply high tariffs on China could provide a comparative advantage for India, as businesses based in China may now look to shift operations to countries with lower tariff regimes, such as India. However, concerns remain over the risk of dumping from the Chinese market into India.That said, the threat of reciprocal tariffs on India has not been ruled out. US Treasury Secretary Scott Bessent, when asked whether the tariffs were always about China, replied it was about “bad actors” and that Vietnam, Japan, South Korea and India could be next though he added, “the US will see.”

Bessent described China as “the most unbalanced economy in the history of the modern world and the biggest trade problem for the US”.

Commerce Minister Piyush Goyal Wednesday urged exporters not to panic and reassured them that India is working towards the “right mix and right balance” in its proposed trade agreement with the US.

He stressed that the Indian negotiating team is working with “speed”, but not “in undue haste”, to ensure the best possible outcome for the country.

The Indian Express had reported last week that the Ministry of Commerce and Industry had intensified its efforts by expanding the NAFTA division, which oversees India’s bilateral trade relations with the US, Canada and Mexico.India and the US are currently negotiating a bilateral trade agreement aimed at more than doubling trade – from the current $191 billion to $500 billion by 2023. The first phase of the deal is expected to be concluded by autumn this year.

“The Minister assured exporters that the country is working proactively and exploring solutions in the national interest. The team working on the BTA is striving for the right balance, and he encouraged exporters to remain optimistic and focus on the silver lining in the current global environment,” an official statement said.

Sebi exempts govt from making open offer to Vodafone Idea's shareholders post-dues conversion .. Read more at: https://telecom.economictimes.indiatimes.com/news/policy

 

New Delhi: The markets regulator Sebi on Thursday exempted the government from making an open offer to the shareholders of Vodafone Idea Ltd (VIL) following its proposed acquisition of just over 34 per cent stake in the telecom operator on the conversion of spectrum dues into equity. In its order, Sebi Whole Time Member Ashwani Bhatia said, "The acquisition of shareholding by GoI in VIL is is proposed with the sole intent of protecting the larger public interest."

Read more at:
https://telecom.economictimes.indiatimes.com/news/policy/sebi-exempts-govt-from-making-open-offer-to-vodafone-ideas-shareholders-post-dues-conversion/119948201?utm_source=latest_news&utm_medium=homepage

Parliament passes Waqf Bill after Rajya Sabha approval following 12-hour debate:-ET

 

The Parliament on passed the Waqf (Amendment) Bill, 2024 in the early hours of Friday after the Rajya Sabha gave its approval, following 12 hours-long debate over the proposed legislation. The bill, which seeks to improve the administration and management of waqf properties in India, was passed with 128 votes in favour of the bill, as against 95.

The Lok Sabha passed the Bill with a 288-232 vote in the wee hours of Thursday after nearly 12 hours of debate.

Tabling the Bill in the Upper House, which was examined and redrafted by a Joint Parliamentary Committee (JPC), Rijiju said the proposed legislation has nothing to do with religion, but deals only with properties. The Bill aims to include all the Muslims sects in the Waqf board, Rijiju said.

Jio Financial, BlackRock invest Rs 66.5 crore in JV Jio BlackRock Investment Advisers:-ET

 

Jio Financial Services and BlackRock were on Friday allotted 6.65 crore shares of Jio BlackRock Investment Advisers Private Limited for cash aggregating Rs 66.5 crore. Jio BlackRock Investment is a 50:50 joint venture between the Jio Financial and BlackRock and their total investment in the JV is Rs 84.5 crore, till date.

The investment is a related party transaction and the company said that it is on an arm's length basis as none of the company’s promoter / promoter group / other group companies have any interest in the above investment.

In April last year, Jio Financial Services signed an agreement with BlackRock Inc. and BlackRock Advisors Singapore Pte. Ltd. to form a 50:50 joint venture between the Jio and Blackrock to start its wealth management and broking business.

The JV agreement also includes incorporation of a wealth management company and subsequent incorporation of a brokerage company in India.

"This joint venture further strengthens the company’s relationship with Blackrock, Inc., with whom it had announced a 50:50 joint venture on July 26, 2023 to transform India’s asset management industry through a digital-first offering and democratise access to investment solutions for investors in India," the company filing had then said.Shares of Jio Financial shares ended at Rs 230.64 on the NSE, gaining by Rs 0.86 or 0.37% over the Wednesday closing price.

Jio Financial shares are market laggards and have fallen by 35% in the past one year. In 2025, so far, the decline has beenm to the tune of 24%.The company had reported a consolidated net profit of Rs 295 crore for the quarter ended December 31, 2024, which was flat versus Rs 294 crore posted in the year-ago period. The Mukesh Ambani promoted company reported total revenue at Rs 438 in Q3FY25, witnessing a 6% gain over Rs 414 crore posted in the corresponding quarter of the previous financial year.

However, the net profit fell 57% QoQ versus Rs 689 crore posted in Q2FY25 on a 37% sequential revenue decline. The company had posted Rs 693 crore in revenue in the July-September quarter.

Read more at:
https://economictimes.indiatimes.com/markets/stocks/news/jio-financial-blackrock-invest-rs-66-5-crore-in-jv-jio-blackrock-investment-advisers/articleshow/119945621.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

IDFC First Bank Shares Rise Over 6% On Robust Q4 Update; Should You Invest? Reported By : Aparna Deb News18.com Last Updated: April 03, 2025, 14:39 IST Shares of IDFC First Bank jumped more than 6% on Thursday, April 3, following the lender’s robust fourth-quarter business update

 

IDFC First Bank Share Price: Shares of IDFC First Bank jumped more than 6% on Thursday, April 3, following the lender’s robust fourth-quarter business update.

The bank’s total deposits surged 22.7% year-over-year to Rs 4.84 lakh crore in the March quarter, up from Rs 3.94 lakh crore a year ago.Loans and advances rose 20.3% to Rs 2.41 lakh crore compared to Rs 2 lakh crore in the previous year, marking a 4.7% sequential increase.

Customer deposits grew 25.2% year-over-year to Rs 2.42 lakh crore from Rs 1.93 lakh crore, with a 6.7% increase on a sequential basis. Meanwhile, current account and savings account (CASA) deposits climbed 24.8% to Rs 1.18 lakh crore from Rs 94,768 crore last year, registering a 4.6% sequential rise.

The CASA ratio stood at 46.9%, slightly lower than 47.2% a year ago and 47.7% in the previous quarter.

The lender’s credit-to-deposit ratio declined to 93.8% in the March quarter from 98.4% in the prior year and 95.7% in the previous quarter. IDFC First Bank highlighted its ongoing efforts to reduce this ratio since its merger with Capital First in December 2018 by retiring legacy bonds and borrowings while strengthening retail customer deposits.

Should You Buy IDFC First Bank Shares?

Sumeet Bagadia, Executive Director at Choice Broking, believes IDFC First Bank is on the verge of a technical breakout at Rs 60.

“If the stock decisively breaks above Rs 60 on a closing basis, we could see it reaching Rs 70 soon. Existing shareholders should hold their positions with a stop loss at Rs 55. Fresh investors can consider buying at the current market price with a near-term target of Rs 70, while maintaining a stop loss at Rs 55," Bagadia advised.

Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

tags :

IDFC Bank

Location :
New Delhi, India, India

First Published:
April 03, 2025, 14:39 IST

HDFC, IDFC First, Stock Holding Corp designated as corporate agents in GIFT City; allowed to sell insurance products Updated - April 02, 2025 at 04:43 PM. | The Hindu Business Line

 

Two banks --- HDFC Bank and IDFC First Bank --- and the Stock Holding Corporation have been permitted to function as corporate agents and sell insurance products to over 35 million Non-resident Indians and Persons of Indian Origin (PIO) living across the globe.

“Banks in GIFT City are in the process of becoming corporate agents under the Insurance Act. This means that they will be able to sell insurance products along with their own products. While HDFC and IDFC First Bank and Stock Holding Corporation have already been given licenses, one more application in this regard is pending,” K Rajaraman, chairman of International Financial Services Authority (IFSCA) told the business line during an interaction. 

HDFC Bank Ltd, IFSC unit of IDFC First Bank and Stock Holding Securities IFSC Ltd are among the first entities who have become corporate agents in GIFT City. Corporate agents are insurance intermediaries that usually represent an insurance company and take the insurance products to a wider audience. 

“There are millions of NRIs and PIOs living all over the world. They usually subscribe to a dollar product. For instance, if an employee in Dubai who has subscribed to an insurance policy from Dubai passes away, the succession will happen under the local Sharia law. The advantage for an NRI buying an insurance product from GIFT City is that the succession will happen under the Indian Succession Act. In other words, the nomination process happens as per Indian law. Moreover, internationally, the customer’s first port of call is the bank. Assuming that an NRI calls up to set up a bank account. Then he will not have to go anywhere for insurance. He just needs to tell the bank and the same will be arranged,” the IFSCA official explained.

According to the Ministry of Foreign Affairs, there are more than 35 million Indians living overseas. Of these 15.85 million are Non-Resident Indians and nearly 19.57 million are People of Indian Origin.

“We are looking to create a wholesome ecosystem. We are also looking at encouraging insurance companies, setting up Global Capability Centres (GCCs) in GIFT City which can accrual services, data processing or underwriting services. We are in talks with a few companies,” Rajaraman added.

Standing Committee on Insurance

Last month, IFSCA had constituted a standing committee on insurance to strengthen GIFT-IFSC’s position as a global insurance hub.

The committee headed by former chairperson of LIC of India MR Kumar has been asked to provide strategic insights and recommendations on regulatory matters, stakeholder engagement, public consultations, and industry best practices.

The Terms of reference of this committee include benchmarking IFSCA regulations with competing IFSCs and advising on issues and enhancements to regulation of Insurance and (Re)insurance at GIFT-IFSC as well as the relevant laws of India. Similarly, it will also benchmark the Ease of Doing Business and Cost of Doing Business in IFSC with reference to other key IFSCs and recommending improvements.

The committee will also provide inputs on the approach to engage with stakeholders, especially NRIs/PIOs and conducting outreach and educational initiatives, review the demand for insurance products in consultation with market participants/NRIs/PIOs as well as scope, nature and scale of global insurance products offered by REs for Indian Corporates/NRIs/PIOs and offering recommendations for development of new products.

The first meeting of the standing committee on insurance was held last week. “They are looking at bringing in improvement to our regulations and exploring ways to expand the retail market. There needs to be a digital channel through which retail insurance products related to life, health and other kinds of products can be sold to retail consumers.These products should also be of international standards,” Rajaraman added.

IDFC FIRST Bank Authorized by the Central Pension Accounting Office, Government of India, for Pension Disbursement:-The Print

 

Mumbai (Maharashtra) [India], April 2: IDFC FIRST Bank today announced that it has been authorised by Central Pension Accounting Office (CPAO), Government of India, to disburse pensions on its behalf.

This allows the Bank to disburse pensions to Central Government pensioners including – All India Service Officers, former Members of Parliament, retired Judges of High Courts and Supreme Court, former Presidents and Vice Presidents of India, and officials of Civil Ministries and Departments (other than Railways, Posts, Telecom and Defence). Pensioners can now receive their pension directly in their IDFC FIRST Bank Savings Account.

From a technical point of view, the integration between the CPAO, GOI and IDFC FIRST Bank is complete and is ready for such pension disbursements.

Pensioners can also open an IDFC FIRST Bank Savings Account jointly with their spouse to receive pension. In the event of the primary pensioner’s demise, the spouse can continue receiving the family pension in the same account.

The IDFC FIRST Bank Savings Account where the pension will be credited comes with the following privileges:

1. Zero Fee Banking on all Savings Account Services, such as Debit Card Issuance, IMPS, NEFT and RTGS, Cheque Book Issuance, ATM Cash withdrawal, Branch cash withdrawals and deposits, Demand Drafts, Pay order, SMS Alerts, international ATM charges – 36 such services

2. Higher interest rates with Monthly Interest Credits

3. Exclusive Senior Citizen Savings Account benefits for pensioners above 60 years, offering:

* Rs. 2 lakh Cyber Insurance coverage for protection against cyber fraud

* One-year MediBuddy health membership with unlimited consultations

* Free doorstep banking and priority service at branches

4. ZERO penalty for premature withdrawal of Fixed Deposits for Senior Citizens

5. Additional 0.5% interest on Fixed Deposits for Senior Citizens

Speaking on the development, Mr. Chinmay Dhoble, Country Head – Retail Liabilities at IDFC FIRST Bank, said, “We are delighted that the esteemed Central Pension Accounting Office (CPAO), Government of India has authorized our bank to disburse pensions to Central Government pensioners. As a universal bank, it is our constant endeavour to offer a complete range of services to our customers. We encourage Central Government pensioners to use the facilities of IDFC FIRST Bank to receive pension in their Savings Account and enjoy industry-first benefits.”

To open the pension account >

Step 1: Pensioner to share IDFC FIRST Bank Account Number with their employer

Step 2: The employer to initiate the formalities with the respective Pay & Accounts Office (PAO)

Step 3: PAO to generate the Pension Payment Order & forward it to CPAO

Step 4: CPAO on acceptance will share details with IDFC FIRST Bank for monthly disbursement

You may visit us at: www.idfcfirstbank.com

(ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)

This story is auto-generated from a syndicated feed. ThePrint holds no responsibility for its content.

Trump's 26% tariffs put pressure on India. Is New Delhi ready for the impact?:-ET

 

US President Donald Trump slapped India with some of the highest tariff rates imposed on any major US trading partner, saying his good personal ties with Prime Minister Narendra Modi did not affect his decision.

The Trump administration imposed a 26% tariff on imports from India, which is slightly higher than the 20% levy for the European Union, the 24% for Japan and the 25% for South Korea. China was hit with one the highest rates for a major US trading partner and now faces a tariff of at least 54% on many goods.

The tariffs are a setback for the Indian government, which had sought to ward off the new levies by rolling out sweeping concessions on issues central to Trump’s agenda. During a visit to Washington by Prime Minister Narendra Modi in February, the two nations agreed to work toward a trade pact this year.

“India, very, very tough. Very, very tough,” Trump said at a news event at the White House on Wednesday to announce the tariffs. “The prime minister just left, and he’s a great friend of mine. But I said, you’re a friend of mine, but you’re not treating us right. They charge us 52%.”

The levies are likely to ratchet up pressure on officials in New Delhi to hash out a trade pact with Washington to win a reprieve, as per a Bloomberg report.

Ahead of the move, the Trump administration has been signaling India would be a target of the new duties, given that New Delhi charges some of the highest tariffs of any major economy. Trump has repeatedly criticised India’s high levies, branding the country as the “tariff king.”

Pressure on India

Before the reciprocal announcement, the US tariff rates were among the lowest, with simple average tariffs at 3.3%, compared with India's 17%, the White House said.

Over the past few weeks, India overhauled its tariff regime, reducing import duties on some 8,500 industrial items, including on prominent American goods like bourbon whiskey and high-end motorcycles made by Harley-Davidson Inc., satisfying a longtime grievance of the US president.

India also indicated its willingness to buy more American oil, LNG and defense equipment to narrow its bilateral trade surplus. Officials have also signaled that more tariff cuts would be in the offing.

The levies will add further pressure on India to make even deeper cuts to its tariff regime. As a part of the discussions, India is considering US demands of duty cuts on US farm products, Bloomberg News reported last week. Officials were optimistic of a favorable outcome in wake of these concessions.

The new duties could also push New Delhi to yield to the US demand on dismantling non-tariff trade barriers, such as opaque import restrictions and licensing requirement on some imports.

Trump and Modi held multiple meetings during the US president’s first term. The US over multiple administrations has cultivated India as a regional partner and a bulwark against a more assertive China.

Impact on Indian economy

The US duties risked pushing India closer to alternative trade blocs and strategic partners, Nigel Green, CEO of global financial advisory deVere Group, told Reuters.

"(This) makes Indian exports immediately less competitive ... it dents investor confidence just as India is trying to attract global capital fleeing China," he said.However, a recent SBI Research report said that the impact of Trump’s tariffs is likely to be limited. This sentiment is echoed by several global research and ratings firms and banks such as Goldman Sachs, Nomura, Morgan Stanley and Fitch.

According to the SBI analysis, the potential impact of US tariff reciprocity on Indian exports would be modest. It projected a reduction of approximately 3 to 3.5 per cent.The report indicates that India's strategic approach to export diversification, emphasis on value addition, exploration of alternative markets, and development of new trade routes from Europe to USA through the Middle-East would offset the effects of US tariffs.

Goldman Sachs notes that India’s gross exports to the US is one of the lowest among its Emerging Market peers. Fitch says India’s low reliance on external demand makes it ‘somewhat insulated’.

Read more at:
https://economictimes.indiatimes.com/news/economy/foreign-trade/trumps-26-tariffs-on-india-pressure-on-pm-modi-is-new-delhi-ready-for-the-impact/articleshow/119924563.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

With Prime Minister’s Office push, India finalises terms for US trade deal US President Donald Trump said Tuesday that India was willing to cut tariffs, hinting at possible relief for India from sweeping US tariffs.:-The Indian Express

 

A DAY BEFORE the US reciprocal tariffs kick in on April 2, India has agreed to the Terms of Reference for the Bilateral Trade Agreement with the US following an intervention from the Prime Minister’s Office (PMO).

The ToR outlines the framework of the BTA and typically requires clearance from the highest political office before negotiations begin. “The PMO is keen on a swift finalisation of the deal,” a senior government official told The Indian Express.

Finalisation of the ToR was still pending on Saturday when US negotiators left India after four days of talks. Both sides are now ready for formal negotiations where India is expected to lower tariffs on American goods in exchange for US concessions, the government official said.

US President Donald Trump said Tuesday that India was willing to cut tariffs, hinting at possible relief for India from sweeping US tariffs. “I heard that India is going to be dropping its tariffs substantially. A lot of countries are going to drop their tariffs,” Trump said during a White House press briefing.

A query to the Commerce and Industry Ministry spokesperson did not elicit a response till late evening.Putting pressure on India and other trading partners, the United States Trade Representative (USTR) also raised a range of concerns in its report ‘Foreign Trade Barriers’ covering 29 major partner countries. As far as India is concerned, the concerns range from Internet shutdowns and dairy feed rules to restrictions on imports of agriculture and GM foods.

Ajay Srivastava, former Indian trade officer and head of the think tank Global Trade Research Initiative (GTRI), warned that while US is pressuring India to amend its trade policies to benefit American interests, New Delhi must assess each demand through the lens of its own national priorities, development goals, and cultural values.

“Many of the proposed changes—in areas like agriculture, digital governance, and public health—pose serious risks to India’s ability to protect its small farmers, maintain food safety, uphold deeply rooted social norms, and secure its digital future. India is not opposed to reform or global cooperation, but any engagement must be fair, reciprocal, and respectful of sovereignty,” he said.

USTR flags barriers, from internet shutdowns to dairy feed rules

The USTR report criticised various Indian trade barriers, from “localised internet shutdowns that disrupt commercial operations” to regulations requiring that “dairy products intended for food must be derived from animals that have not consumed feed containing blood meal.”

“India requires that dairy products intended for food be derived from animals that have not consumed feed containing internal organs, blood meal, or tissues of ruminant or porcine origin, and that exporting countries certify to these conditions, which lack a discernible animal health or human health justification,” the report said.

Highlighting possible US demands in the ongoing negotiations, the report flagged India’s regulations on the import of milk, pork, and fish products, stating that they require genetically modified (GM)-free certificates “without providing a scientific or risk-based justification.”

Indicating that Washington fears another China in the making, the report said the US has placed India on the ‘Priority Watch List’ due to inconsistent progress on intellectual property (IP) concerns. It highlighted the lack of specific laws for “trade secret protection” as a significant issue, along with long waiting periods for patent grants.

The US also raised concerns over India’s price caps on coronary stents and knee implants, arguing that they have not “kept pace with inflation” and do not account for “production costs” or innovation, and could discourage American companies from serving the market.

Agriculture, GM products, and import restrictions

The report reiterated a long-standing American concern over India’s agricultural support programmes, which, according to the US, distort markets. However, Indian officials have argued that US subsidies for farmers are much higher compared to what India provides.

The US also criticised India’s restrictions on pulse imports, calling them opaque and unpredictable. It raised concerns over import controls on boric acid, claiming that approval processes favour domestic manufacturers.The report also flagged ongoing tensions between Washington and New Delhi over genetically modified (GM) products, criticising India’s slow, opaque, and politically influenced approval process for biotechnology.

“The Food Safety and Standards Act of 2006 includes specific provisions for regulating food products derived from genetically engineered (GE) products; however, as of December 31, 2024, FSSAI was still in the process of establishing its regulations. India’s biotechnology approval processes are slow, opaque, and subject to political influences, and do not appear to take into account science-based approval processes for GE products in exporting countries,” the report said.

Data localisation and digital trade barriers

The US has expressed concerns about data localisation requirements for payment service suppliers and banks.

“In 2018, the Reserve Bank of India (RBI) implemented a requirement that all payment service suppliers store all information related to electronic payments by Indian citizens on servers located in India. RBI announced this rule without advance notice or input from stakeholders. In 2019, RBI stated that the requirement to store payments data locally also applied to banks operating in India. Foreign firms assert that the data storage requirement hampers the ability of service suppliers to detect fraud and ensure the security of their global networks,” the report said.

“The United States continues to encourage India to adopt an ‘open skies’ satellite policy to allow consumers the flexibility to select the satellite capacity provider that best suits their business requirements and to promote market access for foreign satellite service providers,” the report added. Incidentally, DOGE chief Elon Musk, a confidant of President Donald Trump, is a promoter of the Starlink satellite communication provider.

Also Read | Gujarat offer for stents with USFDA nod: twice the price of stents approved by Indian regulator

Concerns over India’s patent regime

US concerns over India’s patent regime include copyright piracy, particularly online, and issues with statutory licensing. In the field of patents, long waiting periods for patent grants, excessive reporting requirements, and concerns regarding patentability criteria were noted. The report added that the US continues to monitor restrictions on patent-eligible subject matter in Section 3(d) of the Indian Patents Act.

“Concerns also exist regarding the protection of undisclosed test data and the lack of an effective mechanism for the early resolution of pharmaceutical patent disputes. Inadequate IP enforcement, delays in trademark opposition proceedings, and the lack of specific laws for trade secret protection are also significant concerns,” the report said.

High applied tariffs remain a sticking point

The USTR criticised India’s high applied tariffs on a wide range of goods, including vegetable oils, apples, maize, motorcycles, automobiles, flowers, natural rubber, coffee, raisins, walnuts, and alcoholic beverages. It noted that the gap between India’s WTO-bound and applied tariff rates allows the government to adjust tariffs unpredictably, creating uncertainty for US stakeholders.

“The Indian government has leveraged this flexibility, increasing tariffs on approximately 70 product categories in the 2019/2020 budget and on 31 categories in 2020/2021, including key US exports,” the report said.

Ravi Dutta Mishra

follow

Ravi Dutta Mishra is a Principal Correspondent with The Indian Express, covering policy issues related to trade, commerce, and banking. He has over five years of experience and has previously worked with Mint, CNBC-TV18, and other news outlets.