Dr. Mathew Joys, Las Vegas
India has thrown its weight behind the thrilling Summit meeting in Alaska, where US President Donald Trump and Russian President Vladimir Putin took center stage! Their commitment to peace is not just admirable—it's inspiring! India is upbeat about the progress made during the summit, and the resounding call for dialogue and diplomacy is something everyone craves. The urgency for a speedy resolution to the conflict in Ukraine has never been clearer!
In an electrifying three-hour conversation, Trump and Putin tackled the ongoing turmoil in Ukraine. While they may not have finalized an agreement to end the war, Putin expressed that an “understanding” was reached between them. Trump labeled the encounter as “very good,” but made it clear: no deals will be sealed without concrete agreements!
Just hours before this pivotal meeting, India’s Prime Minister Narendra Modi delivered a riveting Independence Day 2025 speech, announcing tax cuts and ambitious policy reforms! With a powerful message about fostering self-reliance in a protectionist global economy, he urged citizens to roll up their sleeves and produce high-quality goods at home.
Unfortunately, Trump’s push for a ceasefire in Ukraine didn’t bring about the desired results, as Putin remained steadfast. This backdrop sets the stage for the Indian Ministry of External Affairs' reaction to Trump’s recent decision to impose a staggering 50% tariff on India’s exports to the US. The reason? India's burgeoning oil trade with Russia.
Trump didn't hold back when asked about the economic implications of the talks, commenting, “Well, they lost an oil client, so to speak, which is India, which was doing about 40% of the oil; China, as you know, is doing a lot.”
Amidst these global talks, India's stock market is defying the odds with remarkable resilience. The Sensex surged by an impressive 66.28 points, hitting a dazzling 80,670.36, while the Nifty climbed by 42.85 points to reach 24,627.90. The Indian rupee is also on the rise, gaining 7 paise against the US dollar, now valued at 87.68!
Leading the charge in the Sensex were powerhouses like Tech Mahindra, Tata Consultancy Services, Mahindra & Mahindra, HCL Tech, Larsen & Toubro, and Tata Steel. In the wider Asian market, excitement was in the air as indices in South Korea, Japan, China, and Hong Kong basked in positive trading trends today, standing in stark contrast to declines seen in US markets. What a time to be watching these developments unfold!
With the punishing tariffs imposed on Indian exports by U.S. President Donald Trump expected to hurt growth in the world's fastest-growing major economy, Modi announced lower goods and services taxes (GST) from October - a move that could help boost consumption.
Farmers, fishermen, cattle rearers are our top priorities," Modi said in his customary annual address from the ramparts of the Red Fort in New Delhi.
Modi will stand like a wall against any policy threatening their interests. India will never compromise when it comes to protecting the interests of our farmers, even before Trump!