The PRF report suggests that initiatives like the G7 Critical Minerals Action Plan, endorsed by Australia, India, and South Korea, should expand support for Southeast Asian processing capabilities and infrastructure development.
India and China are discussing resuming border trade five years after it was halted due to US tariffs disrupting global trade. Chinese Foreign Minister Wang Yi is expected to visit New Delhi on Monday, following a recent visit by Indian counterpart Subrahmanyam Jaishankar to Beijing. The two countries aim to rebuild relations damaged after a 2020 border clash and have agreed to resume direct flights and issue tourist visas. India's junior foreign minister Kirti Vardhan Singh has facilitated talks with China to restart border trade, but no restart date has been set. China and India have reached a consensus on cross-border exchanges and cooperation, including resuming border trade. Indian junior foreign minister Kirti Vardhan Singh facilitated this agreement with China. The US has strained ties with India due to its refusal to end purchases of Russian oil, which will be doubled from 25% to 50% by August 27 if not switched. Prime Minister Narendra Modi may visit China in late August for the Shanghai Cooperation Organisation summit, marking his first visit since 2018. China and India have reached a consensus to resume cross-border trade exchanges, with New Delhi's junior foreign minister Kirti Vardhan Singh facilitating talks with China. The move comes amid strained ties between India and the US, which has threatened to double import tariffs on Indian goods from 25% to 50% if India doesn't switch crude suppliers. Despite this, India is part of the Quad security alliance with the US, Australia, and Japan, and Prime Minister Narendra Modi may visit China in late August for the Shanghai Cooperation Organization summit, marking his first visit since 2018.
India plans to continue importing Russian oil despite US President Donald Trump's tariffs, citing energy security concerns and the need for a stable supply chain. The Indian government has been exploring alternative sources of oil, but Russia remains a key supplier due to its proximity and existing infrastructure. India's state-owned Oil and Natural Gas Corporation (ONGC) is also investing in exploration and production projects to reduce dependence on Russian oil.
India has imposed a retaliatory tariff on US goods worth $7.5 billion, following the recent 25% tariff imposed by the US on Indian products. The move comes as India's energy needs and strategic autonomy must be respected, according to the Ministry of External Affairs (MEA). The MEA had called the previous US decision "unfair, unjustified, and unreasonable".
India's Foreign Secretary, Dr. S Jaishwal, has expressed strong objection to a recent US State Department Human Rights report, calling it "a mix of imputations, misrepresentations and one-sided projections" that fail to understand India's democratic framework and human rights protections. He stated that India does not attach credence to such biased assessments and remains focused on advancing human rights through inclusive governance and development.
India's credit rating has been upgraded to 'BBB' by S°P Global due to its resilient economy and broad-based growth, driven by public investment and consumer momentum. Despite US President Donald Trump's threat of imposing 50% tariffs on Indian goods, the impact is expected to be marginal, with only 1.2% of GDP exposed. The upgrade comes as a relief for the country, which had been facing pressure from the US over trade disputes.
India is working to fast-track free trade agreements (FTAs) amid higher US tariffs, according to Commerce Secretary Raghu Vemula. The move aims to boost economic growth and counter the impact of increased US tariffs on Indian exports. India has already signed FTAs with several countries, including the UK, Japan, and the UAE, and is in talks with other nations to expand its trade network.
India's foreign ministry spokesperson Randhir Jaiswal expressed hope for continued progress in relations with the US, following recent challenges and changes in plans. Despite initial reports suggesting a halt to military equipment purchases from Washington, Jaiswal confirmed that talks are ongoing. A U.S. defence policy team is expected to visit Delhi this month, contradicting earlier news of an Indian defence minister's cancelled trip to Washington.
Indonesia is attracting Chinese investment amid US trade tensions due to its relatively low 19% tariff rate for Indonesian goods, compared to China's over 30%. The surge in interest has led to a significant increase in enquiries from companies such as toy makers and electric vehicle manufacturers looking for facilities in the Subang Smartpolitan industrial park in West Java. With prices of industrial real estate and warehouses rising by 15-25% year-on-year, Chinese firms are seeking immediate opportunities, including temporary buildings, to capitalize on the tariff agreement.