44 h. ago How an SCO development bank could shift the global financial order

At the 25th Shanghai Cooperation Organisation summit in Tianjin this week, Chinese President Xi Jinping urged member states to accelerate the creation of an SCO development bank, a proposal that could mark a turning point in Asia’s financial landscape. While headlines focused on the high-profile presence of Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, Xi’s proposal points to the SCO’s evolution from a security bloc into a financial actor. Xi also pledged US$1.4...

Economics

4 d. ago Trump claims India offered zero tariffs on US goods, slams ‘one

US President Donald Trump said on Monday that India has offered to reduce its tariffs on US goods to zero, even as Indian Prime Minister Narendra Modi was making public shows of solidarity with Chinese and Russian leaders in the face of trade pressure from Washington. While calling the US relationship with India “one-sided,” Trump wrote on social media: “They have now offered to cut their Tariffs to nothing, but it’s getting late. They should have done so years ago.” The Indian Embassy in...

Politics

4 d. ago India signals no oil import cut from Russia, ‘eagerly’ awaits Putin visit

Indian Prime Minister Narendra Modi told Russian President Vladimir Putin on Monday that the two countries should deepen cooperation “in all sectors”. The remark was a strong indication that New Delhi would not cut back on crude oil imports from Russia despite pressure from the US. Modi also expressed strong enthusiasm for welcoming Putin to India, in a subtle rebuke of US President Donald Trump. As they met on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Tianjin, Modi...

Politics

5 d. ago Xi to Modi: the Chinese ‘dragon’ and the Indian ‘elephant’ need to be good friends

The world’s two most populous countries need to be friends, Chinese President Xi Jinping told visiting Indian Prime Minister Narendra Modi on Sunday. Meeting on the sidelines of a Shanghai Cooperation Organisation summit in the northern Chinese city of Tianjin, Xi told Modi that the two countries could be good neighbours and play a key part in the Global South, according to footage posted online. “China and India are two of the most ‘civilisational’ countries. We are the world’s two most...

Politics

7 d. ago Are Trump’s tariffs nudging India and China to mend their ties?

As India and China reconfigure their relationship, US President Donald Trump’s steep trade tariffs may prove to be a blessing in disguise and bring greater urgency to efforts to mend ties between the two neighbours. Peace talks have been ongoing, resulting in Indian and Chinese troops pulling back from their common borders last year, and there are other signs of possibly warmer bilateral ties. Indian Prime Minister Narendra Modi will be visiting Tianjin at the end of this month to attend the...

Politics

8 d. ago Trump aide slams ‘arrogant’ India over Russian oil, dubs Ukraine ‘Modi’s war’

White House trade adviser Peter Navarro sought to raise pressure on India to halt purchases of Russian energy after the US imposed crippling new tariffs on New Delhi, casting the conflict in Ukraine as “Modi’s war”. “I mean Modi’s war because the road to peace runs, in part, through New Delhi,” Navarro said on Wednesday, referencing Indian Prime Minister Narendra Modi. US President Donald Trump’s 50 per cent tariff on Indian goods took effect earlier on Wednesday, a bid to punish the country for...

Politics

9 d. ago Air chief urges caution over India’s military reforms inspired by US, China

India’s top air commander has advised caution about an ongoing military overhaul that is the largest in seven decades, in a show of scepticism over a plan Prime Minister Narendra Modi’s government is embracing. “Disrupting everything and making one structure now at this time” may not be the best way forward, India’s Chief of Air Staff A.P. Singh said on Tuesday at a seminar to discuss new technologies and warfare. India should not pick up “theatre commands” from any other country, Singh said at...

Events

1 week ago India still needs China to catch up with Chinese manufacturing

Indian Prime Minister Narendra Modi will arrive in Tianjin on Sunday for the Shanghai Cooperation Organisation summit, his first visit to China in seven years, against a backdrop of the United States’ 50 per cent tariffs on India. As India and China mark the 75th anniversary of diplomatic relations, they must not let the unfortunate Ladakh clashes of 2020 overshadow their win-win future. Among non-communist states, India was the first Asian nation to recognise the People’s Republic of China....

Politics

1 week ago Modi’s ‘double Diwali’: India bets on tax overhaul to blunt US tariff shock

Faced with punishing US tariffs, Indian Prime Minister Narendra Modi has sought to turn crisis into opportunity, unveiling a historic tax overhaul that he says will deliver a “double Diwali” for households and businesses alike. In a wide-ranging Independence Day address on August 15, Modi unveiled the most significant revamp of India’s Goods and Services Tax (GST) in a decade – pitched as both an economic stimulus and a political statement of resilience. It comes after US President Donald...

Economics

2 w. ago India to ban ‘harmful’ online money games, threatening US$3.6 billion industry

India’s parliament on Thursday passed a bill to ban online games played with money in a move that threatens the survival of the popular fantasy gaming sector, after Prime Minister Narendra Modi’s government flagged the high risk of financial harm. The sudden ban has shocked an industry backed by venture capital firms like Tiger Global and Peak XV Partners and which was set to be worth US$3.6 billion in India by 2029. Executives fear imminent job losses and a complete shutdown of many app-based...

Economics

2 w. ago China and India are rebuilding relations, but will it be ‘a cold peace’?

From a new border agreement to resuming direct flights and deepening economic cooperation, China and India appear to be entering a new diplomatic chapter following Chinese Foreign Minister Wang Yi’s first visit to New Delhi in three years. There could be a further thaw in ties when Indian Prime Minister Narendra Modi travels to Tianjin at the end of the month – his first trip to China in seven years – for the Shanghai Cooperation Organisation summit, when he could also meet Chinese leader Xi...

Politics

2 w. ago China confirms Indian Prime Minister Narendra Modi will visit at end of month

Chinese Foreign Minister Wang Yi has confirmed that Indian Prime Minister Narendra Modi will visit China at the end of the month for the Shanghai Cooperation Organisation (SCO) summit. His comments, made during talks on the two countries’ border dispute with Indian national security adviser Ajit Doval on Tuesday, came in the wake of a series of reports in Indian media that the visit would go ahead. It will be Modi’s first trip to China in seven years and raises expectations he will meet Chinese...

Politics

4 w. ago Indian Prime Minister Modi ‘set for China visit’ amid Trump tariff row

Indian Prime Minister Narendra Modi will visit China later this month, according to media reports, as the thaw between the two countries gathers pace at a time when New Delhi’s relations with the United States have been hit by growing trade tensions. Modi will visit between August 31 and September 1 for a Shanghai Cooperation Organisation (SCO) summit in the northern city of Tianjin, according to multiple Indian outlets. Ties between the two Asian giants have seen a steady improvement in recent...

Politics