BRIC
BRICS set to meet over Trump trade policies
Senior diplomats from BRICS nations are convening in Brazil to strategize a unified response to escalating trade tensions fueled by US President Donald Trump's protectionist policies. The meeting occurs amidst concerns over the global economic impact of these tariffs, with the IMF recently downgrading growth forecasts.
Doval may skip BRICS meet in Brazil on April 30
Amid escalating tensions with Pakistan following the Pahalgam terror attacks, National Security Adviser Ajit Doval is likely to skip the BRICS NSA Meet in Brazil, with Deputy NSA Pawan Kapoor representing India. The meeting will address cross-border terror, terror financing, and infrastructure. External Affairs Minister's attendance at the BRICS Foreign Minister meeting is also uncertain.
Geopolitics rejigs globoil balance
Narendra Modi's Saudi Arabia visit focused on security, defence and energy. India and Saudi Arabia are working on energy market stability. OPEC+ faces challenges in managing oil production. India's oil imports from OPEC have decreased due to Russian supply. India's growing economy ensures rising oil demand. India seeks overseas oil investments for stable energy supply.
Russia and Ukraine accuse each other of breaking one-day Easter ceasefire
Russia and Ukraine have accused each other of violating the Easter ceasefire declared by President Putin. Zelenskiy reported numerous Russian artillery attacks, questioning Russia's commitment to peace. Russia's Defense Ministry claimed Ukraine broke the ceasefire over 1,000 times, causing civilian casualties and infrastructure damage. Despite the mutual accusations, some Russian military bloggers noted a decrease in frontline activity.
India urges global support for small farmers amid climate change, price challenges
India advocated for prioritizing small and marginal farmers in global agricultural strategies at the 15th BRICS Agriculture Ministers meeting. Shivraj Singh Chouhan emphasized the necessity of policy support to empower these farmers against climate change and market volatility. BRICS nations launched a land restoration partnership and committed to a fair, sustainable agri-food system, inviting participation in World Food India 2025.
India-Russia partnership in a transformational era
In 2024, Russia-India relations saw significant activity, marked by high-level visits and forums. Prime Minister Modi's Moscow visit and the BRICS summit in Kazan highlighted intentions for a more just international order. A major investment forum in Moscow and a business forum in Mumbai underscored growing economic cooperation.
China and Malaysia say important to maintain peace and stability in South China Sea
During President Xi Jinping's visit, China and Malaysia stressed the need for South China Sea peace and pledged to boost collaboration within the UN, WTO, WHO, and BRICS. They affirmed Gaza's status as Palestinian territory and advocated for a complete ceasefire. The nations signed 31 agreements spanning trade, tourism, rail, and agriculture.
Indian tourism to Russia surges, mutual visits expected to hit 450,000 by 2025
A significant surge in tourism between India and Russia is observed, with Indian visits to Russia doubling to over 120,000 in 2024. Russian travel to India also exceeded previous years, reaching 160,000 in 2023. Both countries are working to simplify visa procedures and expand air links, potentially leading to over 450,000 mutual tourists by 2025.
Job crunch, climate of uncertainty push Indian students in the US to explore multiple options
Facing tougher immigration rules and a shrinking job market in the US, Indian students are exploring various options to extend their stay. Some affluent parents are funding EB-5 visas for their children, while others are enrolling in additional programs or seeking short-term gigs.
BRICS Foreign Ministers & NSAs to meet this month to deliberate on AI; payment mechanism & international security
BRICS foreign ministers and NSAs will convene in Brazil this month to finalize the agenda for the July summit. Key topics include artificial intelligence, climate finance, a cross-border payments initiative to bypass SWIFT, and reforms to multilateral institutions. Discussions will also address global hotspots and cross-border terrorism, with 12 partner countries expected to participate.
China's Xi Jinping urges greater cooperation with Vietnam as trade tensions with US flare
Amid escalating trade tensions with the U.S., Chinese President Xi Jinping is embarking on a Southeast Asia tour, starting with Vietnam, to bolster economic cooperation. Xi is advocating for stronger industrial and supply chain collaboration, urging for wider cooperation in emerging fields like 5G and AI.
Russia hopes to develop cooperation with India in multiple areas: Foreign Ministry
Russia has reaffirmed its commitment to strengthening ties with India, celebrating 78 years of diplomatic relations marked by trust and cooperation. The Russian Foreign Ministry highlighted the consistent development of friendly relations and the expansion of cooperation across various sectors, including trade, economy, and nuclear energy.
BRICS mulls alternative payment platforms
Russia advocates for trade with India in national currencies, highlighting that BRICS is exploring alternative payment platforms, potentially bypassing SWIFT, with Brazil proposing one such system. Some India-Russia trade already uses national currencies, and non-BRICS nations could access these platforms. Bilateral trade reached $66 billion in 2024, with aims to hit $100 billion by 2030.
Is the American dream fading? Dollar power and green card losing shine
The US dollar's dominance in international trade faces challenges as nations explore de-dollarization strategies in response to trade wars. America's pursuit of Greenland and environmental policies under Trump 2.0 raise concerns about its global image. The allure of the US green card diminishes due to deportation fears, potentially impacting perceptions of America as a land of opportunity and marital eligibility.
China speaks with Saudi Arabia, South Africa about response to US tariffs
China's Commerce Minister Wang Wentao engaged in video discussions with Saudi Arabian and South African counterparts, addressing the United States' "reciprocal tariffs." The conversations centered on strengthening bilateral economic and trade cooperation. Discussions also covered enhancing cooperation within the Gulf Cooperation Council, as well as the roles of G20 and BRICS.
NaBFID signs MoU with New Development Bank to accelerate financing infra projects
NaBFID and NDB have signed an MoU to foster a sustainable infrastructure financing market, focusing on clean energy and transportation projects. This collaboration aims to bridge the infrastructure financing gap through technical expertise exchange and joint participation in projects. Both institutions will also engage in research and capacity-building initiatives to promote knowledge sharing and enhance capabilities.
Russia invites PM Modi for Victory Day Parade on May 9
Moscow has extended an invitation to Prime Minister Narendra Modi to attend the May 9 celebrations commemorating the 80th anniversary of the victory over Germany in World War II. The invitation has been sent, and arrangements for the visit are currently underway, according to Deputy Foreign Minister Andrey Rudenko.
Trump's tariff war: Make China react again?
Trump's 'Liberation Day' tariffs have sparked global dismay and distrust, challenging trade and political alliances. While some nations may succumb to US pressure due to economic dependence, China and Canada have retaliated. This trade war could reshape global partnerships, potentially weakening pro-US alliances and strengthening alternative organisations.
In BIMSTEC, India's a bigger stakeholder
India has taken a proactive role in strengthening Bimstec, announcing 20 initiatives aimed at enhancing connectivity, security, and trade among Bay of Bengal countries. The focus is on regional development, with India emphasizing its strategic commitments in the Indo-Pacific region, fostering partnerships, and addressing geopolitical challenges including China's influence.
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