PM Narendra Modi transferred Rs 2,400 crore to beneficiaries under the Prime Minister Viksit Bharat Rozgar Yojana (PM-VBRY), aiming to create 15 lakh employment opportunities. He highlighted the role of trade agreements in opening new markets and emphasized quality in products and services for international competitiveness.
India's Commerce Minister Piyush Goyal stated that while countries globally are increasingly protecting domestic industries, India is addressing trade challenges through dialogue and partnerships. He noted the WTO's current ineffectiveness but affirmed trade operates under its framework, with India pursuing FTAs and investment.
The Eurasian Economic Union (EAEU) is exploring free trade agreements with Tunisia, Pakistan, and several African nations, with negotiations with India at an advanced stage.
China's commerce ministry announced a preliminary agreement with the US to reduce some tariffs and confirmed deals on agricultural products and aircraft purchases following President Trump's visit to Beijing.
Indian PM Modi visits Netherlands, securing semiconductor deal and the return of ancient artifacts. Meanwhile, farmers clash with police over crop prices, and opposition demands education minister's resignation over a leaked pre-medical exam.
India is poised to sign trade agreements with the European Union and the United States in the coming months, signaling an expansion of its global trade reach after a recent pact with New Zealand. Additionally, free trade agreement talks with the Russia-led Eurasian Economic Union are set for June in Moscow.
South Korean President Lee Jae Myung begins his first state visit to India, expressing strong support for Atmanirbhar Bharat and Make in India initiatives. Speaking exclusively to TOI, Lee emphasized that Korea and India must work closely as emerging global leaders amid geopolitical uncertainty, with both nations capable of giving new direction to multilateralism. He announced Seoul will fully back India's independent production of defence equipment, with the K9 Vajra howitzer project as an exemplary case. On critical minerals, Lee warned reducing excessive dependence on any single country had become a matter of survival linked to economic security. Both countries will cooperate on ensuring freedom of navigation through the Strait of Hormuz and diversify energy supply chains.
