'Predicated On Our National Priorities' India Reaffirms Energy Security Priorities Amid US Senate Bill Targeting Russian Oil Imports

India’s Ministry of External Affairs has reiterated that national priorities and the energy needs of its 1.4 billion citizens remain the guiding principles of its energy security policy, even as Washington advances a sanctions bill targeting major importers of Russian oil.

Speaking at the weekly media briefing, MEA Spokesperson Randhir Jaiswal confirmed that New Delhi is closely monitoring the legislative developments in the United States. He stressed that India’s position on energy security has been consistently articulated and remains unchanged.

Jaiswal explained that India’s energy procurement strategy is designed to ensure reliable, uninterrupted, and affordable supplies. He noted that the country sources energy from multiple global partners, including the United States, to safeguard its domestic requirements.

He underlined that the policy is predicated on national priorities and the imperative of securing energy for India’s vast population. Diversification of sources, he said, is central to this approach, with imports spanning across regions to balance affordability and reliability.

Despite the proposed punitive measures from Capitol Hill, Indian officials emphasised that diplomatic engagement with Washington continues. Jaiswal confirmed that India remains in dialogue with relevant stakeholders in the United States at multiple levels to address concerns arising from the bill.

The legislation in question, formally titled the Lindsey O Graham Sanctioning Russia Act of 2026, was passed in the US Senate earlier this week with an overwhelming 86-12 vote. The bipartisan support underscored Washington’s continued backing for Ukraine and also served as a tribute to Senator Graham, who passed away unexpectedly earlier in July.

The draft law empowers the US president to impose tariffs of up to 100 per cent on the top five importers of Russian energy. It also extends to nations assisting Moscow in circumventing sanctions through indirect channels.

The measure is expected to predominantly affect China and India, alongside other countries identified as significant buyers of Russian hydrocarbons. In addition, the bill includes a provision to impose a blanket 500 per cent tariff on all Russian imports into the United States.

The legislation, if enacted, would significantly expand executive authority in Washington, enabling the administration to recalibrate trade duties and sanctions in line with evolving geopolitical and energy market dynamics.

India’s response highlights its determination to balance strategic autonomy with pragmatic engagement, ensuring that energy security remains firmly anchored in national interest while navigating the complexities of global diplomacy.

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India Monitors US 100% Tariff Threat On Russian Oil Buyers

India has confirmed it is closely monitoring the progress of the US Senate‑passed Sanctioning Russia and Iran Act of 2026, which authorises tariffs of up to 100 per cent on nations buying Russian oil and gas.

The legislation, passed with an 86‑12 vote, now moves to the House of Representatives, raising potential implications for India as one of the largest importers of Russian crude.

The Ministry of External Affairs stated that New Delhi is tracking developments in Washington with care.

MEA spokesperson Randhir Jaiswal emphasised that India’s energy policy is firmly rooted in national interest and the need to secure fuel supplies for its 1.4 billion citizens. He reiterated that India’s sourcing strategy is diversified and includes imports from the United States.

Jaiswal underlined that India remains engaged with relevant stakeholders in the US at multiple levels. He noted that dialogue continues across official channels to ensure clarity on the proposed measures and their potential impact on bilateral trade.

The Senate’s passage of the Sanctioning Russia and Iran Act of 2026 marks a significant step in Washington’s attempt to intensify pressure on Moscow.

The bill grants President Donald Trump broad executive authority to enforce primary and secondary sanctions against Russia and associated entities. It also empowers the administration to impose trade duties of up to 100 per cent on goods imported from countries purchasing Russian hydrocarbons or facilitating sanction evasion.

Section 113 of the Act specifically targets the five largest importers of Russian energy. India, China, Slovakia, Hungary and Azerbaijan are named as countries that could face punitive tariffs.

The provision also extends to nations enabling sanctions evasion through shadow fleet tanker operations, a mechanism widely used to bypass restrictions on Russian oil exports.

The legislation requires the US Trade Representative to conduct biannual reviews every 180 days. These evaluations will reassess the top purchasing nations and adjust tariff structures according to changing procurement patterns. This mechanism ensures that the sanctions framework remains dynamic and responsive to shifts in global energy trade.

The Act goes beyond tariffs. It includes prohibitions on investment in Russia’s energy sector, restrictions on sovereign debt purchases, bans on uranium imports, and measures against Russian financial institutions. It also extends the Iran Sanctions Act of 1996, thereby broadening the scope of punitive measures to Tehran.

India has consistently defended its reliance on Russian crude as essential for energy security and consumer affordability. Officials argue that discounted Russian oil helps stabilise domestic fuel prices and supports broader economic resilience.

At the same time, New Delhi has expanded imports from other suppliers, including the US, Middle Eastern producers and African exporters, to maintain diversification.

The MEA’s cautious response reflects the delicate balance India seeks to maintain. On one hand, it must safeguard affordable energy supplies; on the other, it faces mounting pressure from Washington to reduce dependence on Russian hydrocarbons. The outcome of the House review will be closely watched in New Delhi, as the legislation could reshape trade dynamics and impose significant costs on Indian exports if tariffs are enacted.

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India's $87 Billion Exports Exempt Under US Section 301

The United States has imposed an additional 10 per cent duty on Indian goods under Section 301 of the Trade Act, while placing India in the lower tariff bracket.

The Centre described this as a relative advantage for Indian exports and reaffirmed its commitment to concluding the Bilateral Trade Agreement with Washington at the earliest.

The United States Trade Representative announced the final measures on 23 July, following investigations into 60 economies regarding forced labour concerns. The new duty took effect on 24 July, replacing the earlier temporary 10 per cent tariffs that had been in place since February.

India had initially been proposed for a 12.5 per cent tariff but secured the lower rate after sustained engagement with the USTR, including written submissions, consultations and public hearings.

The Commerce Ministry stated that India’s exports to the US, valued at $87.31 billion in 2025–26, will largely remain outside the scope of the additional duty. Exemptions cover generic pharmaceuticals, smartphones and other specified products that continue to attract zero additional tariffs.

Products already subject to Section 232 measures, such as steel, aluminium and auto parts, will not face the new Section 301 duty, though they already carry tariffs of 25 to 50 per cent.

According to estimates, 45 per cent of India’s exports remain exempt, while 55 per cent will be affected by the new levy.

The ministry emphasised that India’s overall tariff incidence remains lower than that of many other economies under investigation. It reiterated that the government is committed to working with the US to conclude the Bilateral Trade Agreement announced earlier this year.

Concerns have been raised by textile exporters, who noted that India has not received the tariff-rate quota exemption under the new regime. This exemption benefits Bangladesh, Cambodia, Indonesia and Malaysia, allowing them to export textiles made from US-origin cotton at concessional rates for three years.

Industry experts warned that this could encourage Bangladeshi manufacturers to source cotton directly from the US, potentially impacting India’s intermediate textile exports. The Confederation of Indian Textile Industry expressed serious concern, highlighting that the US is India’s largest market for textile and apparel exports, valued at around $11 billion annually.

Commerce Minister Piyush Goyal had earlier expressed confidence that India would secure concessional duty access for garments made using American yarn and cotton under the proposed trade agreement, similar to the benefits extended to Bangladesh.

The additional 10 per cent tariff applies over and above existing MFN duties. For example, a shirt currently attracting a 5 per cent duty will now face a total tariff of 15 per cent.

India was placed in the lower bracket after amending its Foreign Trade Policy in July to prohibit imports of goods produced using forced labour. The US acknowledged this step and imposed the reduced duty. However, a separate Section 301 investigation into excess industrial capacity remains pending, with potential for further tariffs on industrial products once findings are announced.

India and the US continue negotiations on the Bilateral Trade Agreement, having already finalised a framework for the first phase. India is seeking competitive tariff advantages over peer economies as talks progress.

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India Secures Lower Tariff Rate As US Enforces Section 301 Amid Ongoing Trade Talks

India has formally acknowledged the latest announcement by United States President Donald Trump regarding new global tariffs, while emphasising that discussions on the Bilateral Trade Agreement with Washington are continuing with the objective of concluding it at the earliest.

Ministry of External Affairs Spokesperson Randhir Jaiswal, responding to a query during the weekly media briefing, clarified that the US announcement is a Section 301 enforcement action, initiated following a ruling by the US Supreme Court on the tariff issue. He reiterated that India has made its position clear and remains engaged in negotiations with the US side.

The Office of the US Trade Representative announced fresh tariff slabs ranging from 10 to 12.5 per cent across 60 economies under Section 301 of the Trade Act of 1974.

These duties, which took effect on Friday, target major global trading partners after President Trump directed action against what Washington described as inadequate measures to prohibit the import of goods produced with forced labour.

India has been placed in the lower 10 per cent tariff category alongside 16 other economies, including the United Kingdom, Canada, Indonesia, Mexico, and Bangladesh. Official sources confirmed that New Delhi was initially slated for the higher 12.5 per cent bracket but secured the lower rate following constructive and productive engagement with the US on labour practices.

According to the USTR, the 10 per cent rate applies to economies that either maintain a forced labour import prohibition, have committed to one through a Reciprocal Trade Agreement, or operate partial regimes preventing such imports.

A differential framework of 10 to 12.5 per cent applies to certain products from the European Union, Taiwan, Japan, Korea, and Switzerland, while all other investigated nations face the full 12.5 per cent duty.

The decision follows extensive Section 301(b) investigations initiated in March across 60 economies, involving consultations with over 45 governments, multiple public hearings, and the analysis of more than 1,600 written comments.

This move represents the latest escalation in global trade measures after the US Supreme Court declared several tariffs imposed under emergency powers unlawful, prompting the administration to utilise Section 301 statutory authority to advance its trade agenda.

The enforcement action underscores Washington’s determination to address forced labour concerns while simultaneously reshaping global trade dynamics. For India, the lower tariff rate reflects the outcome of sustained diplomatic engagement and positions New Delhi to continue negotiations on the Bilateral Trade Agreement with the US, which remains a priority for both sides.

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Trade Win: U.S. Cuts India’s Tariff From 12.5% To 10%

US President Donald Trump has announced new double‑digit tariffs on at least sixty of America’s trading partners, including India, China and the United Kingdom. The administration claims these nations have inadequately enforced bans on goods produced by forced labour.

The United States will impose taxes ranging from ten per cent to twelve and a half per cent on imports from these countries. Critics argue that this is part of a broader campaign to reduce reliance on imports and to protect American workers.

The announcement was expected and coincided with the expiry of temporary levies introduced after a Supreme Court defeat. The White House order stated that countries such as China, the United Kingdom and Japan, which do not have laws barring the import of goods produced with forced labour, will face tariffs of twelve and a half per cent. Nations that have enacted such laws, including India, Sri Lanka and the European Union, will face ten per cent levies if they fail to enforce them effectively.

Certain imports are exempted from the new measures. Products covered under the US‑Mexico‑Canada Agreement and oil and gas shipments will not be subject to the tariffs. This exemption reflects the administration’s effort to balance trade restrictions with energy and regional trade commitments.

The timing of the tariffs is significant. They took effect at 12:01 am on Friday, the exact moment the temporary ten per cent import tax expired. That earlier measure had been introduced after a February Supreme Court judgement invalidated Trump’s “Liberation Day” tariffs of April 2025. The administration emphasised that the latest action stems from Trump’s long‑standing opposition to involuntary labour.

US Trade Representative Jamieson Greer stated that the United States has enforced a forced labour import ban for nearly a century. He argued that it is time for trading partners to do the same. Greer described the new tariffs as a step towards correcting human rights abuses and distortive trade practices, aiming to improve the welfare of workers globally.

For India, the total tariff remains at ten per cent. Imports from India had been subject to a standard ten per cent surcharge imposed after the Supreme Court ruling, which expired today. Trump had previously threatened to impose an additional twelve and a half per cent penalty tariff on India over concerns about forced labour enforcement.

However, the White House clarified that following the publication of the Notice of Determinations, economies such as Cambodia, Guatemala, Honduras, India, Sri Lanka and Trinidad and Tobago have imposed prohibitions or undertaken commitments regarding forced labour imports. Jordan has also made commitments under an Agreement on Reciprocal Trade. As a result, these economies will be tariffed at the ten per cent rate to encourage enforcement.

Reports suggest that more tariffs are on the horizon. According to the Washington Post, the administration is preparing another set of levies targeting countries that subsidise excess manufacturing capacity.

Such subsidies lead to a flood of low‑cost products on global markets, undermining US companies. Trump appears determined to rebuild the tariff wall dismantled by the Supreme Court in February, this time using legal frameworks considered less vulnerable to judicial challenge.

The flurry of tariff activity underscores Trump’s aggressive trade posture. It reflects both his emphasis on protecting American workers and his broader strategy of leveraging trade measures to enforce human rights standards abroad.

The distinction between countries facing ten per cent and twelve and a half per cent tariffs highlights the administration’s attempt to differentiate between those making commitments and those failing to act.

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India–US Trade Deal Delayed By Section 301 Investigations, Signing Likely In 3–4 Months

The India–US trade deal is delayed mainly due to Washington’s ongoing Section 301 investigations into unfair trade practices, including forced labour concerns, News18 reported.

Although negotiations between New Delhi and Washington are essentially complete, the agreement cannot be signed until these probes conclude, which could take another three to four months.

The trade deal between India and the United States has reached an advanced stage, with both sides agreeing on the substance of the agreement. A senior US official confirmed that “the deal… is there. We literally have the paper,” indicating that the text is ready. However, the signing is being held up by procedural matters in Washington, specifically the completion of Section 301 investigations.

Section 301 of the US Trade Act allows Washington to impose tariffs or retaliatory measures against countries engaged in unfair trade practices. One major investigation covering 60 countries, including India, is expected to conclude soon.

Once this and other probes are finalised, progress on the India deal and other trade agreements is expected to accelerate. The official suggested a timeline of three to four months for completion.

India has been negotiating with the US to expand market access and reduce trade barriers. Both governments see the deal as a way to strengthen economic ties and provide greater certainty for businesses. Commerce Secretary Rajesh Agrawal has emphasised that while Section 301 investigations are separate, the trade deal could provide a pathway to address these issues comprehensively.

The delay is not due to disagreements between India and the US but rather Washington’s domestic processes. India has already submitted its responses to the US Trade Representative, contesting the proposed tariffs and arguing that the evidence against it is insufficient. New Delhi has offered dialogue to address specific concerns, particularly regarding allegations of forced labour in supply chains.

Washington has proposed new tariffs of up to 12.5% on imports from dozens of countries, including India, over forced labour concerns. India has asked the US to reconsider, pointing out that no economy-specific case has been made against it. Public hearings on these tariffs were held earlier this month, and final decisions are expected soon.

Separately, President Donald Trump announced that generic drugs imported into the US will remain exempt from tariffs for two years starting 1 August. After that, they will face tariffs of 100% for one year and 200% thereafter.

This decision has major implications for India’s pharmaceutical industry, which is heavily reliant on the US market. In 2025, India exported $9.7 billion worth of generic medicines to the US, accounting for nearly 38% of its total pharmaceutical exports of $25.8 billion.

India is the most exposed among exporters of generic medicines to the US. The proposed tariff escalation could severely impact its pharmaceutical sector, raising costs and reducing competitiveness. This adds urgency to the trade deal, as India seeks to secure favourable terms to protect its industries.

The framework agreement is reportedly ready and will be signed at the “right time.” Both sides have held multiple rounds of talks since the US Supreme Court struck down reciprocal tariffs earlier this year.

The deal is expected to strengthen supply chains, boost investor confidence, and provide long-term stability in bilateral trade relations.

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Trump’s Pharma Tariff Plan Threatens India’s Generic Drug Exports

The United States has announced steep tariffs on imported generic drugs beginning in August 2028. President Donald Trump declared that the measure was intended to onshore production of pharmaceutical products and reduce reliance on foreign suppliers.

The move is expected to have significant consequences for India, which is the largest exporter of generic drugs to the US.

Trump explained on his Truth Social platform that the phased tariff plan would start on 1 August 2026. For the first two years, generic drugs entering the US would continue to face zero per cent tariffs. In the third year, tariffs would rise to 100 per cent, and from the fourth year onwards they would be set at 200 per cent.

He emphasised that this policy was designed to re-shore pharmaceutical manufacturing into America and penalise companies that failed to establish plants and equipment domestically within the given timeframe.

The president stated that the objective of the policy was to protect the American people. He clarified that the existing policy on patented, branded, or innovative drugs, which he described as successful, would remain unchanged. The new tariffs would apply only to generic medicines.

India, often described as the pharmacy of the world, supplies generic medicines to countries across the globe. In the United States, Indian generics account for nearly 40 per cent of the market by volume. 

During the financial year 2024–2025, India exported pharmaceuticals worth 9.7 billion US dollars to the US, representing 38 per cent of its total global pharmaceutical exports of 25.8 billion US dollars, according to a Global Trade Research Initiative report.

It remains unclear how Trump’s tariff plan will affect Indian drug companies, especially given the trade pact signed between India and the US in February. That agreement stipulated that India would receive negotiated outcomes with respect to generic pharmaceuticals and ingredients.

However, Trump’s earlier threats to impose tariffs on pharmaceutical suppliers had already raised concerns about the future of cheap supplies from India.

Indian generic medicines are widely prescribed in the US for conditions such as hypertension, depression, diabetes, cancer, infectious diseases, and mental health. In the case of birth control, approximately 65 per cent of all pill prescriptions in the US in 2024 were manufactured by just two Indian companies, Glenmark Pharmaceuticals Ltd. and Lupin Ltd., according to a Financial Post report. 

The new tariffs could therefore have far-reaching implications for affordability and access to essential medicines in the United States.

The announcement comes at a time when India’s pharmaceutical sector has been expanding its global footprint, with strong exports and a reputation for reliable supply chains.

Analysts suggest that the tariffs could disrupt this dynamic, forcing Indian companies to reconsider their strategies and possibly invest in manufacturing facilities within the US to maintain market access.

The broader impact on global healthcare supply chains and affordability of medicines remains a pressing concern.

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Brazil Condemns US Tariffs As Lamentable Blow To Sovereignty And Trade Rules

Brazil has issued a strong condemnation of the United States’ decision to impose a 25 per cent tariff on Brazilian products, describing the move as a lamentable milestone in bilateral relations. The government pledged to defend the country’s economic interests through international legal mechanisms and domestic measures.

In an official statement, President Luiz Inacio Lula da Silva’s administration said the tariffs lacked both economic and legal justification. It announced that Brazil would challenge the decision at the World Trade Organisation while invoking the Reciprocity Law, recently approved by the National Congress, to formulate an appropriate response.

Brasilia rejected Washington’s justification under Section 301 of the US Trade Act, arguing that official US data contradicted claims of unfair trade practices. According to the statement, the United States has recorded a cumulative trade surplus of USD 424.5 billion in goods and services with Brazil over the past fifteen years.

The government highlighted that 76 per cent of US imports entered Brazil duty-free in 2025, while the effective average tariff on American products stood at just 3.1 per cent. Officials said these figures undermined Washington’s argument that Brazil was engaging in discriminatory trade practices.

Brazil also defended its instant payment system, Pix, calling it a national asset and a global benchmark in public digital infrastructure. It rejected allegations concerning digital regulation, environmental policies and ethanol, stressing that Brazilian authorities had presented technical evidence to US officials disputing each of the concerns raised during bilateral consultations.

Brasilia further noted that a majority of submissions during the US Trade Representative’s public consultation opposed the tariff proposal, indicating limited support for the measure even among businesses in both countries. This, it argued, showed that the tariffs were politically motivated rather than economically justified.

The government announced that its Sovereign Brazil Plan would be activated to protect domestic companies, jobs and production chains affected by the tariffs. Alongside legal action at the WTO, reciprocal measures would be considered under Brazilian law to mitigate the impact on the economy.

The statement also criticised members of the Bolsonaro family, alleging they had supported actions that undermined Brazil’s national interests. It accused them of collaborating with external forces to weaken the country’s position in global trade negotiations.

Reaffirming its commitment to protecting national sovereignty, the Lula administration said its response would remain within the framework of international law while safeguarding Brazil’s economic and strategic interests. Officials emphasised that Brazil would not falter in defending its sovereignty and economic independence against unilateral measures.

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Brazil Retaliates With Reciprocal Measures Following US' 25% Tariff Imposition

Brazil has announced retaliatory measures following the United States’ decision to impose 25 per cent tariffs on Brazilian goods under Section 301 of the Trade Act of 1974.

The administration of President Luiz Inacio Lula da Silva issued a statement through the Social Communication Secretariat of the Presidency, formally repudiating the US action and declaring that it would initiate formal countermeasures.

The Brazilian government emphasised that the US has historically maintained a significant trade surplus with Brazil, amounting to $424.5 billion over the past fifteen years, and argued that there is no justification for unilateral measures against the country.

The statement rejected the legitimacy of the US investigation, asserting that the measures lack support in multilateral trade rules. It highlighted that in 2025, 76 per cent of imports from the United States entered Brazil without paying duties, with the average effective rate applied to US products being only 3.1 per cent.

Brazil stressed that it has consistently remained at the negotiating table to defend national interests, despite not recognising investigations that lack multilateral backing. The government noted that it had worked extensively with the Office of the United States Trade Representative (USTR) to counter allegations of unfair trade practices, presenting evidence to refute claims related to digital trade, electronic payment services, and deforestation.

The release specifically defended Brazil’s digital payment system PIX, describing it as a national heritage and an international reference for public digital infrastructure. It rejected accusations regarding the regulation of digital platforms and insisted that freedom of expression cannot serve as a shield for criminality.

On environmental policy, the government underscored that since 2023 it has taken incisive action against illicit activities and drastically reduced deforestation across all biomes. It dismissed US allegations on deforestation as absurd and politically motivated.

The administration signalled that it would take immediate steps to mitigate economic damage, invoking instruments under the Reciprocity Law approved by the National Congress and pursuing the matter within the World Trade Organization’s dispute settlement mechanism.

The statement also accused domestic political opponents, particularly the Bolsonaro family, of collaborating with the United States in orchestrating actions against Brazil, branding them as false patriots. It concluded with a strong affirmation of national sovereignty, declaring that protecting Brazil’s sovereignty is a duty that transcends political divisions.

The US Trade Representative had earlier announced the tariffs following a year-long investigation into Brazil’s trade practices. The probe concluded that several Brazilian policies were unreasonable and discriminatory, burdening American businesses and workers. Areas of concern included digital trade, electronic payment services, preferential tariffs, anti-corruption enforcement, intellectual property protection, ethanol market access, and illegal deforestation.

The USTR noted that it had convened two public hearings, received over 360 public comments, and engaged in intensive negotiations with Brazil before finalising the decision. Ambassador Jamieson Greer confirmed that the investigation was initiated at the direction of President Trump to address unfair trading practices.

The tariffs are expected to affect thousands of Brazilian export products, though exemptions have been granted for key commodities such as beef, coffee, rare earths, and aircraft parts. The move is likely to escalate trade tensions between the two countries, with Brazil determined to respond through reciprocal measures and international legal channels.

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India-EU Free Trade Agreement Marks Historic Year of Balanced Partnership Says 'Fair, Equitable, Balanced; Truly A Win-Win Deal'

Union Minister of Commerce and Industry Piyush Goyal has described 2026 as a historical year in India-European Union relations, hailing the Free Trade Agreement as balanced and beneficial to both sides.

Speaking in Brussels after the conclusion of the third India-EU Trade and Technology Council Ministerial Meeting, he emphasised that the FTA was “fair, equitable, and balanced,” and a true win-win for businesses and citizens across both regions.

He noted that European Commission President Ursula von der Leyen had referred to the deal as “the mother of all trade deals,” while Prime Minister Narendra Modi had characterised it as “a partnership for global good.”

Goyal underlined that the discussions in Brussels reaffirmed the shared vision of India and the EU for an innovation-driven, trusted and future-ready growth partnership. He said the TTC had become a vital pillar of engagement between the two sides. He highlighted that a work program on foreign direct investment screening had been concluded, with both sides exchanging best practices to expedite investment flows.

He also drew attention to global economic instability, stressing that the multilateral trading system was undergoing turbulence. He said India and the EU’s shared commitment to a rules-based, open, inclusive and non-discriminatory World Trade Organisation would help steer progress in the future.

He emphasised that both sides were committed to de-risking dependencies on critical areas, building reliable and diversified supply chains, and ensuring outcome-oriented work in market access, harmonisation of standards, and operationalising supply chain imperatives. He pointed to collaboration in deep tech start-ups, innovation ecosystems, industrial partnerships, advanced manufacturing, and connectivity, particularly in the context of global turbulence.

Goyal said that through the FTA, India and the EU were creating a framework for greater trade and business, and looked forward to witnessing the signing of the agreement later in 2026. He also cited Prime Minister Modi’s description of India’s economic position, noting that India was not only a rising power but also a reliable power, a fast-growing and credible economy.

Union Minister of State for Commerce and Industry Jitin Prasada added that cooperation between India and the EU was increasingly action-oriented and outcome-driven. He said governments, industry, research institutions and innovation ecosystems from both sides had agreed on a forward-looking action plan for 2026-27.

This plan would guide cooperation across strategic and emerging technologies, reflecting a shared commitment to deepen collaboration in research and innovation, strengthen trusted and resilient technology value chains, and promote greater industry engagement. He stressed that the plan would deliver tangible benefits to citizens and businesses.

Prasad highlighted progress in cutting-edge sectors such as semiconductor cooperation, artificial intelligence, high-performance computing and digital public infrastructure.

He said these achievements demonstrated the immense potential of the alliance. He emphasised that technology cooperation must ultimately benefit people, by delivering digital skills, connecting talent and innovation ecosystems, and facilitating greater mobility of skilled professionals.

He framed the India-EU alliance as a standard-setter for the international community, suggesting that both sides were uniquely positioned to advocate for technology partnerships that were sustainable and inclusive.

He said India and the EU could contribute to building global technology frameworks and standards that were open, trusted, interoperable and responsive to societal needs. He concluded that the India-EU technology partnership was entering a new phase, with a focus on implementation and measurable outcomes.

India, he said, remained committed to working closely with the EU to build a trusted, ambitious and future-oriented technology partnership that would contribute to innovation, economic growth and an inclusive, sustainable digital future.

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India And Belgium Launch Strategic Dialogue To Strengthen Defence, Trade And Technology Cooperation

India and Belgium convened the inaugural Strategic Dialogue in Brussels on Wednesday, marking a significant milestone in their bilateral relations. The meeting reviewed cooperation across defence, semiconductors, supply chains, trade, investment, clean energy and mobility, reflecting the growing breadth of their partnership.

The Ministry of External Affairs stated that this first Strategic Dialogue represents a structured and comprehensive framework for political engagement. Anchored in the wider India-European Union Strategic Partnership, it is designed to be regular, results-oriented and future-focused.

The session was co-chaired by External Affairs Minister S Jaishankar and Belgium’s Deputy Prime Minister and Minister of Foreign Affairs, European Affairs and Development Cooperation, Maxime Prevot. Both leaders emphasised the importance of building on complementarities to deliver tangible outcomes for their countries and for Europe.

Prevot highlighted that the Belgian Economic Mission of March 2025 demonstrated the dynamism of bilateral economic ties. He noted that trade, investment and innovation continue to strengthen relations and provide a solid foundation for future cooperation.

Jaishankar underlined Belgium’s special place in India’s engagement with Europe. He stressed that as the India-EU relationship acquires greater strategic importance, this dialogue will help deepen bilateral ties and expand cooperation across multiple domains.

In a post on X, Jaishankar said the discussions reflected the ambition of India’s partnership with Belgium and the European Union. He noted that the partnership has witnessed significant deepening in recent years and that the dialogue will further consolidate this momentum.

According to the MEA, both sides agreed to intensify collaboration in trade and investment, green energy transition, innovation and technology, connectivity, defence, security, regional and global issues, and people-to-people exchanges. The dialogue will be supported by regular high-level engagements to ensure sustained political momentum.

The two sides also noted that upcoming high-level visits later this year would provide opportunities to advance key initiatives and translate shared ambitions into concrete outcomes for the benefit of both nations.

Complementing the launch of the Strategic Dialogue, the India-EU Business Forum was held at the Federation of Belgian Enterprises. The forum brought together Indian, Belgian and other European businesses to discuss ways of converting political momentum into economic and trade opportunities.

The forum was attended by Jaishankar, Union Commerce and Industry Minister Piyush Goyal, Minister of State for Commerce and Industry and Electronics and Information Technology Jitin Prasada, Belgian Minister-President of Flanders Matthias Diependaele, and Minister-President of Wallonia Adrien Dolimont. Discussions focused on the ongoing negotiations for the India-EU Free Trade Agreement and the potential to unlock new opportunities for businesses.

The MEA emphasised that India and Belgium reaffirmed their shared commitment to a stronger, more ambitious and future-oriented partnership.

This reflects the growing importance of bilateral relations and the evolving international environment, with both sides determined to translate political goodwill into practical cooperation.

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India-EU Trade And Technology Council Strengthens Cooperation In Strategic Tech, Clean Energy And Trade

The third meeting of the India-European Union Trade and Technology Council in Brussels marked a significant advancement in cooperation across three major working groups.

These covered strategic technologies and digital connectivity, clean and green technologies, and trade, investment and resilient value chains. Both sides announced new initiatives in artificial intelligence, semiconductors, green technologies, start-ups and supply chain resilience.

The meeting was co-chaired by External Affairs Minister S Jaishankar, Commerce and Industry Minister Piyush Goyal, and Minister of State for Electronics and Information Technology Jitin Prasada from India.

The European Union was represented by Henna Virkkunen, Executive Vice-President for Tech Sovereignty, Security and Democracy, Maros Sefcovic, Commissioner for Trade and Economic Security, and Ekaterina Zaharieva, Commissioner for Startups, Research and Innovation.

The TTC, established in April 2022 by European Commission President Ursula von der Leyen and Prime Minister Narendra Modi, has become a central platform to address challenges related to trade, trusted technology and security while strengthening bilateral cooperation.

EAM Jaishankar emphasised that the meeting reviewed ongoing cooperation in strategic technologies, digital connectivity, clean energy, trade, investments and resilient supply chains. He noted that trusted partnerships like India and the EU are vital in overcoming supply chain chokepoints, market access issues and technology gaps.

Under the first working group, both sides reaffirmed their commitment to strengthening cooperation in artificial intelligence, semiconductors, high-performance computing, quantum technologies, digital governance and next-generation telecommunications.

They agreed to improve interoperability of digital trust services, including e-signatures, and explore cooperation on digital wallet interoperability, with a possible pilot linking the EU Digital Identity Wallet and India’s DigiLocker. A Joint Artificial Intelligence Roadmap is being considered, alongside sharing best practices on responsible AI adoption and governance approaches for emerging applications.

India and the EU also agreed to deepen cooperation in high-performance computing and quantum technologies, including joint research in natural hazards, climate change and bioinformatics. On semiconductors, both sides committed to building secure and trusted supply chains.

A joint India-EU roundtable will be held during Semicon India 2026, with collaboration in research, capacity building, advanced manufacturing and critical minerals supply chains. Cooperation between India Semiconductor Mission design facilities and EU pilot lines under the EU Chips Act will also be explored.

The second working group focused on clean and green technologies. India and the EU welcomed progress in research and innovation cooperation and announced plans to begin formal negotiations on India’s association with Horizon Europe, the EU’s EUR 93.5 billion research and innovation funding program.

This would allow Indian researchers and innovators to participate fully from 2027. Both sides agreed to establish the first India-EU Innovation Hub focused on electric vehicle charging technologies and testing, driven by the European Commission’s Joint Research Centre and the Automotive Research Association of India. This hub will integrate research capabilities, testing infrastructure, standards expertise and start-up ecosystems.

Progress was also highlighted under a joint investment of EUR 60 million over four years to support collaborative research projects through Horizon Europe.

These projects include renewable hydrogen production from agricultural and industrial waste, marine pollution monitoring using AI-driven models and advanced biosensors, and recycling of electric vehicle batteries with a focus on critical raw material recovery. Cooperation will continue on hydrogen-related safety standards, hydrogen valleys, electric mobility and green technologies.

The third working group concentrated on strengthening economic cooperation, enhancing supply chain resilience and addressing vulnerabilities in key sectors. India and the EU agreed to build transparent, predictable, diversified and sustainable value chains in areas such as agri-food, active pharmaceutical ingredients and clean technologies.

Discussions also covered food security, pharmaceutical supply chain resilience, renewable energy technologies and reducing trade barriers. Both sides welcomed progress in addressing market access issues through the TTC framework and stressed the importance of outcomes in technical regulations, Quality Control Orders and relevant EU regulations.

India and the EU reaffirmed their commitment to the multilateral trading system and highlighted the need for reforms to address contemporary trade challenges. They agreed to explore a dedicated platform under the TTC for the Blue Valleys initiative, aimed at developing sector-specific industrial clusters involving regulators, industry, start-ups and other stakeholders.

A Deep-Tech Start-up Partnership will also be established, involving the European Innovation Council and Start-Up India, to support cross-border market access and commercialisation opportunities. The India-EU Business Forum will be held annually, with regular sector-specific industry interactions focusing on priority areas.

Both sides agreed that the next Ministerial Meeting of the Trade and Technology Council will take place in New Delhi in 2027.

The TTC will continue to support a more integrated, resilient and sustainable economic partnership between India and the European Union, building on the momentum of the India-EU Free Trade Agreement, the Security and Defence partnership and the Mobility Framework.

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Historic UK-India Free Trade Agreement Comes Into Force

The UK-India Free Trade Agreement, described as one of the biggest trade deals of modern times, officially came into force on Wednesday. The agreement marks a transformative moment in bilateral economic relations, immediately impacting trade worth £48 billion in 2025.

Consumers in both countries will now benefit from cheaper, quicker, and easier access to a wide range of British and Indian products and services.

To commemorate this historic occasion, a special package of select British goods arrived at the British Deputy High Commission in Mumbai aboard a British Airways flight. The ceremonial unveiling was conducted by Harjinder Kang, Trade Commissioner for South Asia, and David Wright, British Airways’ General Manager in India. The package symbolised the new opportunities unlocked under the agreement and contained goods benefiting from reduced tariffs, including cosmetics, food products, and alcoholic beverages.

Harjinder Kang hailed the moment as a watershed in the UK-India partnership. He emphasised that the landmark trade deal was designed to deliver benefits to businesses and consumers from day one, making trade cheaper, quicker, and easier. He expressed excitement about the opportunities that would now be available to both nations.

David Wright underlined the importance of India as one of British Airways’ most significant markets. He noted the airline’s long history of connecting people, businesses, and cultures across the UK and India. With 63 flights each week, set to increase to 70 by the end of summer, British Airways plays a vital role in strengthening economic and cultural ties.

Wright described the agreement as a milestone that reinforces the long-term potential of one of the world’s most dynamic international corridors. He affirmed the airline’s pride in supporting the deal and its commitment to deepening links with India.

From today, 99 per cent of Indian goods entering the UK and 90 per cent of UK goods entering India will either be duty-free or subject to reduced tariffs. This sweeping liberalisation will benefit sectors including automotive, manufacturing, consumer goods, creative industries, and medical technology. It represents the most significant milestone yet in the bilateral economic partnership.

To mark the occasion, celebratory events and activations are being hosted by the UK Government across India and the UK. Business receptions are planned in New Delhi, Mumbai, Bengaluru, and at Lancaster House in London, underscoring the scale of the achievement and the enthusiasm surrounding it.

In the long term, the agreement is expected to boost bilateral trade by £25.5 billion annually. It is projected to increase Indian GDP by £5.1 billion and UK GDP by £4.8 billion every year. These figures highlight the transformative potential of the deal, which is set to reshape economic engagement between the two countries and deliver lasting benefits across multiple sectors.

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US Softens Russia Sanctions Bill, Caps Tariffs From 500 To 100 Per Cent For India And China

US lawmakers have revised the Russia sanctions bill, lowering the proposed tariff threat from 500 per cent to a maximum of 100 per cent on top buyers of Russian oil and gas, including India and China.

The measure, backed by President Donald Trump, honours the late Senator Lindsey Graham and introduces exemptions for certain European countries reducing their dependence on Russian energy.

The revised sanctions bill represents a significant softening compared to the earlier draft. The original proposal had threatened blanket tariffs of up to 500 per cent on all third-party buyers of Russian energy. 

The updated version narrows this to a maximum of 100 per cent, applied only to the five largest purchasers of Russian oil and gas. These include China, India, Slovakia, Hungary, and Azerbaijan for crude oil, and China, France, Japan, Hungary, and Belgium for natural gas.

A key exemption has been introduced for countries importing less than 15 per cent of Russia’s natural gas exports and taking meaningful steps to reduce those imports. This provision could exempt Japan, France, Hungary, and Belgium, shielding them from the full impact of the tariffs. The bill also grants President Trump authority to waive sanctions if he determines it is in the US national interest, providing flexibility in its application.

Beyond tariffs, the legislation imposes sweeping sanctions on Russia’s economy. It targets Russia’s shadow fleet of tankers, which operate outside Western maritime services, and places restrictions on Russian financial institutions, including the Central Bank of the Russian Federation. It also sanctions major state-owned energy projects such as Yamal LNG and Arctic LNG 1, 2, and 3, aiming to cut off Moscow’s ability to finance its war in Ukraine.

The bill was championed by Senator Lindsey Graham, who passed away last week. Graham had announced during a visit to Ukraine, just a day before his death, that he had reached an agreement with President Trump to move the legislation forward after more than a year of negotiations. His colleagues described the measure as a tribute to his legacy, noting his determination to push for tougher action against Russia.

Senate aides confirmed that the bill already has 26 co-sponsors from both parties, with more expected to join. They expressed confidence in its passage, emphasising bipartisan support and the urgency of increasing pressure on Moscow. Lawmakers believe the sanctions will ramp up economic pressure on Russia, which has sustained a four-year-long invasion of Ukraine, causing an estimated two million military casualties and nearly $200 billion in damage to Kyiv.

President Trump has voiced strong support for the bill, describing it as a way to honour Graham’s memory. He also suggested that sanctions on Iran and Hezbollah might be added, calling such additions a “very big thing.” However, Democratic Senator Richard Blumenthal urged caution, arguing that the bill should move forward without opening it to new targets, to ensure swift passage.

For India and China, the revised bill offers some relief compared to the earlier 500 per cent tariff threat. However, the measure still places them directly in Washington’s crosshairs as two of the largest buyers of Russian crude.

If tariffs are imposed, they could significantly strain already volatile trade relations with the United States, while also raising costs for energy imports. India has consistently defended its purchases of discounted Russian oil as essential for energy security and consumer affordability, but the new legislation signals that continued reliance on Moscow’s energy supplies could carry heavy costs.

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India-UK Free Trade Pact Designed To Be Future-Proof

The landmark India-UK Free Trade Agreement has now come into effect, and Harjinder Kang, the United Kingdom’s former chief negotiator for the deal, has described it as being deliberately built to be future-proof.

In an exclusive interview, Kang recalled the long and complex negotiations, noting that India was a tough partner to bargain with, but both sides demonstrated strong political intent which ultimately made the agreement possible. He emphasised that without such intent, the process would have been far more difficult.

Kang pointed out that the negotiations continued despite a change of government in the UK. The process began under the Conservative Party and concluded under the Labour Party, yet both administrations supported the deal.

This continuity gave officials confidence that the agreement had bipartisan backing. On the Indian side, the negotiating team remained consistent throughout, which contributed to the eventual success. Kang stressed that the pact was designed not just for the short term but for decades to come, ensuring resilience against future challenges.

He explained that the agreement provides a stable framework for strengthening economic cooperation between the two countries. While it was not intended to solve global problems, it was crafted to help India and the UK conduct business more effectively on a bilateral basis. Kang acknowledged that turbulent times lie ahead, but the FTA offers both nations greater stability and the ability to build on their relationship in the future.

Earlier in the day, British High Commissioner to India Lindy Cameron hailed the agreement as a historic moment that would unlock new opportunities for businesses, workers and consumers in both countries.

She described it as the most ambitious free trade agreement either nation has ever implemented, covering 30 chapters on goods, services, procurement and other areas. Cameron highlighted that 99 per cent of Indian goods entering the UK and 90 per cent of tariff lines for UK exports to India would now benefit from duty-free or reduced-tariff access.

She noted that the deal is expected to increase bilateral trade by more than GBP 25 billion annually in the long run, while boosting the combined GDP of both countries by nearly GBP 5 billion. Key sectors set to benefit include infrastructure, clean energy, financial services, manufacturing, creative industries and consumer goods. The agreement reduces tariffs, expands market access and eases business mobility, making collaboration between the two economies more seamless.

Cameron explained that enthusiasm for the agreement was evident among British companies, ranging from large corporations to MSMEs. During a UK-wide roadshow across six cities, businesses expressed optimism about expanding into India as trade barriers fall and new export opportunities arise.

She cited examples such as a Manchester-based dye manufacturer and a copper products company, both expecting reduced tariffs to make their products more competitive in India.

She underlined that the deal combines Britain’s strengths in design, sustainability and innovation with India’s scale, ambition and rapid infrastructure development. Improved business mobility will allow engineers, consultants and professional services firms from both countries to collaborate more easily on major projects.

The agreement also opens government procurement markets, granting UK companies access to India’s central procurement market valued at GBP 38 billion annually, while Indian firms gain entry to UK procurement opportunities. This is expected to particularly benefit urban infrastructure projects, where British specialist equipment and technologies will become more competitive.

Cameron added that financial services firms, including banks, insurers and fintech companies, would enjoy greater certainty under the agreement. Collaboration in creative industries will be strengthened, with intellectual property rights protected for Indian animation studios and UK game developers. Clean energy is another major beneficiary, with 98 per cent of environmental and green goods liberalised, supporting India’s energy transition while boosting UK exports of turbines, generators and renewable energy components.

The India-UK Free Trade Agreement thus represents a new gold standard in trade deals, designed to endure for decades, and is expected to reshape economic ties between the two countries while offering resilience against global uncertainties.

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EAM Jaishankar Meets European Council President In Brussels, Strengthens India-EU Strategic Partnership And Trade Cooperation

External Affairs Minister S Jaishankar commenced a high-level diplomatic visit to Brussels on Wednesday, where he held talks with European Council President Antonio Costa to reinforce the India-European Union Strategic Partnership.

Jaishankar is in Belgium from 14 to 15 July, leading a senior delegation of Indian ministers and officials to attend the third India-EU Trade and Technology Council meeting. This gathering is seen as a pivotal platform to advance cooperation in trade, technology, and strategic affairs.

Following his meeting with Costa, Jaishankar shared updates on X, noting that he was pleased to call on the European Council President alongside Commerce and Industry Minister Piyush Goyal, Minister of State for Electronics and Information Technology Jitin Prasada, and Principal Scientific Adviser Ajay K Sood.

He conveyed Prime Minister Narendra Modi’s warm wishes and joined his colleagues in recognising the significant progress achieved since the landmark India-EU summit earlier this year. He emphasised Costa’s guidance and warm sentiments in advancing trade and technology cooperation.

The dialogue highlighted the expanding trajectory of India-EU cooperation, with particular focus on innovation, trade, strategic alignment, and technology. This builds on the momentum generated by the major bilateral summit held earlier in 2026, which set the stage for deeper collaboration across multiple sectors.

At the start of his Brussels itinerary, Jaishankar held extensive deliberations with Kaja Kallas, the European Union’s High Representative for Foreign Affairs and Security Policy and Vice-President of the European Commission.

Detailing the meeting on X, Jaishankar said he had useful discussions on West Asia and the need to ensure peace and stability. He also exchanged views on the importance of safe and unimpeded maritime commerce and spoke about advancing the India-EU Strategic Partnership to ensure supply chain resilience.

The exchange underscored mutual concerns regarding shifting geopolitical situations, particularly in West Asia, and emphasised the necessity of protecting global supply chains and maintaining open sea lanes.

Reflecting on the interaction, Kallas described 2026 as a historic year for India-EU relations, pointing out the broadening horizons of their bilateral cooperation. She noted that ties were deepening across trade, technology, security, and defence.

In her post on X, Kallas stated that it was good to speak with Jaishankar about taking the partnership further, including on maritime security. She stressed that both sides must defend freedom of navigation, protect open and resilient supply chains, and deepen cooperation between EU operations ATALANTA and ASPIDES and the Indian Navy to uphold security in the Indo-Pacific and beyond.

Jaishankar’s stop in Brussels represents a critical component of his ongoing multi-nation tour. The focus is heavily on the third India-EU Trade and Technology Council assembly, where both delegations intend to enhance joint efforts in economic security, digital transformation, clean energy, critical technologies, and supply chain strength.

The TTC has emerged as a central program for advancing cooperation in these areas, reflecting the strategic importance of India-EU ties in shaping global economic and security frameworks.

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EAM Jaishankar Highlights India-EU Advances After Brussels Summit Talks

External Affairs Minister S Jaishankar held extensive talks with senior European leaders in Brussels, noting that India and the European Union have made significant advances in bilateral ties following their high-level summit in January.

During his two-day official visit to Belgium from 14 to 15 July, Jaishankar engaged in wide-ranging deliberations on trade, technology, security, maritime commerce and supply chain resilience. His discussions included meetings with European Council President Antonio Costa and European Commission Vice-President Kaja Kallas.

Jaishankar is in Belgium to attend the third India-EU Trade and Technology Council assembly and to interact with his EU and Belgian counterparts. He is accompanied by a senior Indian delegation comprising Union Minister for Commerce and Industry Piyush Goyal and Minister of State Jitin Prasada.

Following his meeting with Costa, Jaishankar posted on X that he and his colleagues recognised the significant progress in the partnership since the landmark India-EU summit earlier this year. He expressed appreciation for Costa’s guidance and warm sentiments in advancing trade and technology cooperation.

He conveyed Prime Minister Narendra Modi’s warm wishes during the meeting, which also included Principal Scientific Adviser Ajay K Sood. The Indian delegation underscored the importance of building on the momentum generated by the January summit.

The India-EU Summit held in New Delhi earlier this year was a pivotal moment. Costa, along with European Commission President Ursula von der Leyen, attended the Republic Day celebrations as chief guests. The summit, co-chaired by Prime Minister Modi and EU leadership, resulted in a landmark Free Trade Agreement and a comprehensive new Security and Defence Partnership.

Beginning his Brussels itinerary, Jaishankar first met Kallas to review developments in West Asia, regional stability and the critical need for safe and unimpeded maritime commerce. They also discussed advancing the India-EU Strategic Partnership to ensure supply chain resilience.

EAM Jaishankar described the discussions as useful, emphasising the importance of peace and stability in West Asia and the need to safeguard maritime trade routes. He highlighted the role of India and the EU in ensuring resilient supply chains.

Kallas termed the current period a historic year for EU-India relations, noting that cooperation has deepened across trade, technology, security and defence. She expressed optimism about taking the partnership further, particularly in maritime security.

She stressed that both sides must defend freedom of navigation, protect open and resilient supply chains and deepen cooperation between EU operations ATALANTA and ASPIDES and the Indian Navy to uphold security in the Indo-Pacific and beyond.

Expanding the scope of his visit, Jaishankar also held talks with Flanders Minister-President Matthias Diependaele and Minister Annick De Ridder. The discussions explored regional business opportunities and investment prospects.

Jaishankar noted that the India-EU Free Trade Agreement has enabled a wide range of possibilities for India’s cooperation with Belgium. He emphasised the potential for businesses and investments from the Flanders region.

The high-level discussions in Brussels focused on scaling up India-EU strategic ties across core sectors such as trade, technology and security, while simultaneously tapping into fresh business and investment opportunities in Belgium.

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British Deputy Envoy Hails India-UK Trade Pact As Cheaper, Quicker And Faster

British Deputy High Commissioner to Tamil Nadu, Kerala and Puducherry, Sutapa Choudhury, has hailed the entry into force of the India-UK Comprehensive Economic and Trade Agreement alongside the Agreement on Social Security as a historic milestone in bilateral relations.

The enforcement was formally announced on Wednesday, marking a defining moment in the economic partnership between the two democracies.

The pact guarantees zero-duty market access for nearly 99 per cent of India’s exports, covering almost the entire trade value between the two nations. Choudhury emphasised that the treaty would systematically strip away bureaucratic and financial friction for enterprises, making business between the two countries “cheaper, quicker, and faster.”

She highlighted that Tamil Nadu stands to gain significantly, with sectors such as textiles, leather, automotives, marine, and pharmaceuticals expected to benefit. Expressing optimism over the rapid implementation, she noted that the agreement was signed less than a year ago by Prime Minister Narendra Modi and Prime Minister Keir Starmer, underscoring the speed and seriousness with which both governments pursued the deal.

Choudhury described the pact as a stabilising anchor during a period of heightened macroeconomic and geopolitical volatility. She stressed that in a fragile global environment, the agreement brings India and the UK closer together, strengthening economic ties, people-to-people connections, and facilitating the movement of professionals and businesses across borders. She called it “a really profound statement of intent” by both governments.

To ensure that the benefits of the treaty reach regional industrial hubs, the British Deputy High Commission plans to expand commercial outreach beyond state capitals. Choudhury explained that she had recently visited Hosur to meet Tamil Nadu’s investment promotion agency and local businesses, emphasising the importance of engaging with industrial clusters spread across the state. She described this approach as a “win-win for India and for the UK.”

Union Minister of Commerce and Industry Piyush Goyal formally announced the enforcement of the agreement, highlighting the competitive advantage it secures for domestic manufacturers, small-scale industries, and corporate professionals.

He stated that the deal delivers zero-duty market access for nearly 99 per cent of India’s exports, covering almost 100 per cent of trade value, and described the day as a defining milestone in India-UK ties.

The agreement is expected to reduce costs for businesses, enhance competitiveness, and ultimately deliver cheaper prices for consumers. It represents a landmark achievement in bilateral relations, deepening economic engagement and opening new avenues for cooperation across diverse sectors.

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US Senators Push Tough And Sweeping Russia Sanctions, Hint At Tariffs For India

US senators have introduced a sweeping bipartisan sanctions bill targeting Russia’s economy, with India named among five countries that could face tariffs of up to 100% for continuing to buy Russian oil.

The measure, backed by President Trump, represents a significant softening from earlier proposals that threatened 500% tariffs, but it still places India under direct pressure as one of Moscow’s largest energy customers.

The bill, formally unveiled on Capitol Hill by Senators Richard Blumenthal, Jeanne Shaheen, Roger Wicker, Katie Britt and more than a dozen colleagues, has been dubbed by some as the “Lindsey Graham Russia Accountability Bill.”

It was described as the late Senator Graham’s greatest achievement, with lawmakers emphasising his role in negotiating its terms before his death. The announcement carried an emotional undertone, with senators urging passage as a tribute to Graham’s legacy.

The legislation goes far beyond tariffs. It imposes full blocking sanctions on Russia’s energy and financial sectors, defence industry, oligarchs, businesspeople, and President Vladimir Putin himself. Senator Blumenthal stressed that the bill is designed to cut off Moscow’s ability to finance its war in Ukraine, while simultaneously discouraging major buyers from sustaining Russia’s oil revenues.

A key provision authorises the administration to impose tariffs above zero but capped well below full value on countries identified as the largest buyers of Russian oil. India, China, Slovakia, Hungary and Azerbaijan were named explicitly.

A related clause targets buyers of Russian natural gas but exempts countries importing less than 15 per cent of their gas from Russia if they are already reducing purchases, shielding most European allies. The actual tariff rate will be determined by the US Trade Representative, not fixed in the bill, though senators expect it to be set high enough to strongly discourage continued purchases.

Earlier drafts of the bill had threatened tariffs of up to 500 per cent on as many as 63 countries. The current version narrows the scope to a “very discreet number” of five oil and five gas buyers, reflecting input from the Trump administration, which has now formally endorsed the measure. Lawmakers said this redesign was intended to win over House Democrats who had criticised the broader earlier version.

Senator James Risch, chairman of the Senate Foreign Relations Committee, highlighted a separate provision cracking down on Russia’s “shadow fleet” of tankers used to evade sanctions. The bill also introduces sanctions on major Russian energy projects such as Yamal LNG and Arctic LNG, and on the Central Bank of Russia and other financial institutions.

The timing of the bill was described as urgent, with senators pointing to Ukrainian battlefield gains and continuing Russian strikes on civilian areas. They expressed confidence that the Senate could act before the end of August, noting assurances from the Senate Majority Leader that a vote will proceed once sufficient support is secured.

President Trump has signalled his backing, with the White House confirming he supports the bill. The legislation gives him authority to impose tariffs of up to 100 per cent, with waiver powers if deemed in the US national interest.

India has resisted Western pressure to curb its purchases of discounted Russian crude, which surged after 2022 and now account for a significant share of its imports. New Delhi has defended the trade as essential for energy security and consumer affordability, arguing that it also helps stabilise global oil prices. However, the new bill places India directly in Washington’s crosshairs, raising the prospect of tariffs on Indian exports if purchases continue at current levels.

The measure must still clear procedural hurdles in the Senate and pass the House of Representatives before reaching President Trump’s desk. Senators emphasised that the bill is both a tribute to Graham’s legacy and a strategic tool to intensify pressure on Moscow, while signalling to major buyers like India that continued reliance on Russian energy could carry heavy costs.

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Piyush Goyal’s Brussels Meetings With EU And Belgian Leaders To Strengthen Trade, Clean Energy And Agriculture Cooperation

Union Minister of Commerce and Industry Piyush Goyal held a series of high‑level meetings in Brussels on Tuesday with European Union Commissioners and Belgian Deputy Prime Minister David Clarinval.

The discussions centred on strengthening cooperation in agriculture, clean energy, trade, investment, and sustainable industrial development as India and the European Union seek to deepen their strategic economic partnership.

Goyal met European Commissioner for Agriculture and Food Christophe Hansen. The talks focused on expanding collaboration in the agri‑food sector following the successful conclusion of the India‑EU Free Trade Agreement.

He emphasised the importance of building resilient agri‑food value chains, enhancing food security, supporting farmers, and promoting sustainable growth. This engagement is expected to open new opportunities for Indian agricultural exports and joint ventures in food processing.

In another meeting, Goyal held talks with European Commissioner for Climate, Net‑Zero and Clean Growth Wopke Hoekstra. Their discussions revolved around enhancing cooperation in climate action, renewable energy, and green technologies.

They exchanged views on strengthening India‑EU cooperation in clean growth and sustainable industrial development. The talks highlighted collaboration in renewable energy, green hydrogen, clean technologies, innovation, investments, and resilient value chains to support shared net‑zero ambitions.

The Commerce Minister also met Belgium’s Deputy Prime Minister and Minister of Employment, Economy and Agriculture David Clarinval. They discussed expanding bilateral economic cooperation across trade, investment, technology, logistics, and workforce mobility.

Both sides reaffirmed their shared commitment to strengthening economic ties and highlighted the transformative potential of the India‑EU Free Trade Agreement for businesses and people in both countries.

According to the Ministry of Commerce and Industry, Goyal is on a two‑day visit to Belgium from 14 to 15 July. His engagements are aimed at strengthening India’s trade and investment partnership with the European Union.

The minister is scheduled to visit the Port of Antwerp to study best practices in multimodal connectivity, green logistics, and resilient supply chains. He will also visit the Antwerp World Diamond Centre to explore opportunities for India’s gems and jewellery sector through greater collaboration in the global diamond value chain.

Goyal is expected to hold CEO‑level meetings with Alain Queverin of Thales Group and Jean‑Christophe Bogaert of Silox Group. The discussions will cover cooperation in aerospace, defence, cybersecurity, speciality chemicals, battery recycling, and sustainable manufacturing. These meetings are designed to reinforce India’s industrial partnerships with leading European companies.

The visit also includes participation in the India‑EU Business Roundtable and the third India‑EU Trade and Technology Council Ministerial Meeting. The agenda will focus on foreign direct investment, trade facilitation, trusted technology, sustainable industrial growth, and resilient supply chains.

During the Brussels visit, Goyal is co‑chairing the third TTC Ministerial Meeting alongside External Affairs Minister S Jaishankar and Minister of State for Electronics and Information Technology Jitin Prasada. The TTC serves as the highest institutional mechanism for cooperation between India and the European Union on trade, trusted technology, and economic security.

This series of meetings underscores India’s commitment to deepening its strategic economic partnership with the European Union. By engaging with senior EU leaders and Belgian officials, Goyal is positioning India as a trusted partner in agriculture, clean energy, advanced technologies, and sustainable industrial development. The outcomes are expected to strengthen India’s role in resilient supply chains, green growth, and global trade integration.

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