ASEAN MEETINGS
China and ASEAN make progress on South China Sea pact
The last major sticking points are the geographic scope to be covered by the agreement, the definition of sensitive terms and whether the accord should be legally binding or not, according to the three diplomats. They spoke on condition of anonymity and without elaborating because they were not authorized to discuss the issues in public.
India's October consumer inflation likely nears top of RBI target on food costs: Reuters poll
India's consumer inflation is projected to rise in October, mainly driven by significant increases in food prices. Economists expect food inflation to reach 8.20%, reflecting ongoing market pressures. Rising global food prices and higher input costs contribute to the inflationary environment. The Reserve Bank of India anticipates inflation to average 5.2% for the current financial year. A rate hike is likely to occur in the central bank's upcoming policy meeting.
Chinese President Xi Jinping likely to skip ASEAN Summit in Manila: Report
The Philippines' Department of Foreign Affairs (DFA) shared this information on Wednesday while responding to reports about Xi's expected absence from the annual summit, which the Philippines is hosting this year.
EAM Jaishankar urges Quad to focus on freedom of choice
External Affairs Minister S Jaishankar emphasized freedom of choice and resilient supply chains during the Quad meeting. He highlighted countering non-market practices as a key priority for discussions with partner nations. The Quad aims to enhance cooperation in maritime security and counter-terrorism measures. Additionally, over USD 85 million will be extended for AI access across the Indo-Pacific region.
Jaishankar calls for deeper Quad cooperation on energy security, counter-terrorism, maritime issues
Participating in the Quad Foreign Ministers' Meeting in Atlanta, Jaishankar said he spoke about countering non-market practices and increased economic stresses in the Indo-Pacific region.
Quad to step up cooperation in AI, critical minerals
US Secretary of State Marco Rubio met External Affairs Minister S Jaishankar, Japan's Foreign Minister Toshimitsu Motegi and Australian Foreign Minister Penny Wong on the sidelines of the G20 Foreign Ministers' Meeting in Atlanta.
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Rajnath Singh proposes ASEAN youth bridge to boost ties
Defence Minister Rajnath Singh proposed a dedicated youth bridge across the Asean region for innovation and collaboration. He emphasized the importance of empowering youth to enhance regional peace and security in the Indo-Pacific. Singh highlighted India's maritime security efforts, including escorting merchant vessels and countering piracy on the high seas. Furthermore, he reaffirmed India's commitment to combat terrorism and share its expertise with regional partners.
JAI - Japan, Australia, India: Rajnath Singh reaffirms close ties with Japan, Australia at meeting with counterparts
Defence Minister Rajnath Singh shared a picture with his Japanese and Australian counterparts, Shinjirō Koizumi and Richard Marles, with the caption “JAI: Japan, Australia, India”, underscoring cooperation among the three Indo-Pacific partners. On the sidelines of the 13th ASEAN Defence Ministers’ Meeting-Plus in Cebu, Singh held bilateral talks with both leaders to strengthen defence cooperation and coordination. He also invited Marles to attend Aero India 2027 in Bengaluru.
US and Japan to establish a Japanese facility for joint missile production
The United States and Japan have decided to establish a facility for joint missile production in a strategic partnership. Japanese Defense Minister Shinjiro Koizumi highlighted the importance of this venture in addressing regional security concerns. Both nations aim to enhance their defense cooperation against rising threats, particularly regarding China's assertiveness in Asia. Additionally, discussions emphasized the significance of maintaining a rules-based international order in the region.
India raises concerns over 'F-16 package to Pakistan'
Defence minister Rajnath Singh cautioned that the transfer of sensitive technology to Pakistan was fraught with risks, including the possibility of weapons-related know-how leaking to third nations. The recent clearances to sell F-16 fighter jet sustainment packages to Pakistan were also raised during the meeting.
First top-level Quad Summit under Trump administration likely in Manila
The proposed summit will focus on critical technology, minerals and associated supply chains, maritime security and disaster management, according to people familiar with Quad dynamics. The meeting is also expected to address the establishment of a Quad energy bank. A key item on the agenda will be securing supply chains for essential products, particularly in the light of ongoing conflicts and the weaponisation of trade routes.
India, Mexico begin talks for trade pact; aim to boost commerce, investments
India and Mexico have initiated negotiations for a preferential trade agreement to enhance bilateral trade and investment. The agreement aims to create new economic opportunities while addressing market access, customs procedures, and trade facilitation. Discussions included organising a Mexican business mission to India in early 2027 to improve commercial ties. India had a trade surplus with Mexico, largely due to exports in autos and pharmaceuticals.
Rajnath Singh, US War Secretary Hegseth review progress of 10-year defence pact
In a significant move, India and the US are enhancing their defence relationship through a comprehensive 10-year agreement aimed at fostering technological advancements and military integration. Defence Minister Rajnath Singh, alongside US Secretary of War Pete Hegseth, engaged in dialogue about the security landscape of the Indo-Pacific region and marked the anniversary of their partnership.
India, Mexico sign terms of reference to kickstart trade pact negotiations
India and Mexico have signed the Terms of Reference to initiate negotiations on a Preferential Trade Agreement. This agreement aims to enhance bilateral trade and investment opportunities between the two countries. Key negotiating areas include market access, customs procedures, and trade facilitation measures. Both delegations discussed organizing a Mexican business mission to India in early 2027.
Ukraine drone attack damages industrial infrastructure in Russia's Novomoskovsk, governor says
Falling debris from drones has struck Novomoskovsk in Russia, leading to damages in various industrial infrastructures. Regional officials reported that both apartment buildings and private homes suffered as a result. The city, known for chemical production, is located about 200 km south of Moscow. Health and safety officials have been sent to assess the situation following the incidents.
Rajnath Singh meets US Secy of War Hegseth on sidelines of ASEAN defence ministers' meeting in Philippines
Defence Minister Rajnath Singh met US War Secretary Pete Hegseth in Cebu during the 13th ASEAN Defence Ministers' Meeting-Plus. They celebrated the one-year anniversary of their Major Defense Partnership framework and discussed strengthening cooperation. Singh is also set to hold bilateral meetings with counterparts from several countries, including Japan, Australia, and South Korea. Upon arrival, he received a ceremonial welcome and interacted with local communities.
Hegseth likely to face questions on US role in Indo-Pacific at ASEAN summit
US Defense Secretary Pete Hegseth is scheduled to meet with Southeast Asian counterparts in the Philippines soon. Discussions will focus on US commitments in the Indo-Pacific region amid ongoing tensions from the Iran war. Southeast Asian leaders seek clarity regarding the impact of the Iran conflict on US military readiness and alliances. Issues like energy security and cooperation with China are also on the agenda.
India to emerge as major exporter to China, ASEAN, get edge in US trade pact, says Piyush Goyal
Commerce and Industry Minister Piyush Goyal highlighted India's potential to expand exports to China and ASEAN. Negotiations are underway for a trade pact with the United States that could provide India a comparative advantage. The country is also working towards an Investment Protection Agreement with the European Union. Goyal indicated that discussions for preferential trade agreements are progressing with multiple countries and groups.
We will see India becoming major exporter of goods and services to China: Piyush Goyal
Commerce and Industry Minister Piyush Goyal emphasised India's willingness to engage with Chinese suppliers. He highlighted the importance of fair play and judicial processes regarding pricing discrepancies. India aims to enhance exports to China and the ASEAN region over the coming years. Recent trade data shows a significant increase in India-China bilateral trade. The Indian government is also addressing concerns related to China's export controls on key machinery.
"Explore new avenues to strengthen strategic partnerships": Rajnath Singh leaves for ASEAN Defence Ministers' Meeting-Plus in Philippines
Defence Minister Rajnath Singh has departed for Cebu, Philippines, to attend the 13th ASEAN Defence Ministers' Meeting-Plus. He will address regional and international security topics during the event on October 28 and 29. Singh plans to hold bilateral discussions with defence ministers from various countries to enhance strategic partnerships. India remains committed to ASEAN centrality and security in the Indo-Pacific region under the Act East Policy.
Defence minister Rajnath Singh to lead Indian team at ADMM-plus in Philippines
Rajnath Singh, India's Defence Minister, will take part in the forthcoming ASEAN Defence Ministers' Meeting in the Philippines, starting Wednesday. This vital gathering will involve dialogues surrounding key international security challenges. Singh is also scheduled to conduct bilateral talks with his counterparts from multiple countries, focusing on reinforcing existing defense relationships and enhancing strategic cooperation within the region.
Asia-focused banks face bond market risks ahead of Q3 earnings
Asia-focused banks face mounting pressure from rising bond yields, inflation and currency volatility ahead of third-quarter earnings. HSBC, Standard Chartered and DBS confront profitability and capital risks, while Japanese and Southeast Asian lenders navigate bond losses, funding pressures and economic uncertainty.
Trade deal 'very close' to finalisation: Rubio
US Secretary of State Marco Rubio will meet with Maharashtra Chief Minister Devendra Fadnavis and External Affairs Minister S Jaishankar. During his visit, Rubio mentioned that the India-US trade deal is close to being finalized. He expressed the need to balance global energy concerns while managing sanctions linked to Russian oil. Additionally, Rubio plans to meet business leaders in Mumbai, including Gautam Adani and N Chandrasekaran.
‘For global trade’s sake, hope our US deal is inked soon’: FM Nirmala Sitharaman
Nirmala Sitharaman expressed optimism regarding the speedy conclusion of the India-US trade agreement during her recent interaction. She highlighted challenges in trade relations with China due to non-tariff barriers causing problems for Indian exporters. The Finance Minister advocated for promoting rupee-denominated trade settlements to assist nations experiencing hard currency shortages. Sitharaman emphasized the importance of public investment in infrastructure to bolster economic growth despite global disruptions.
India wants to promote rupee trade settlement to help partner facing hard currency shortage: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman said India is promoting rupee and local-currency trade settlements to help countries facing hard-currency shortages continue importing essential goods. She said geopolitical tensions and economic downturns have pushed several nations into debt and balance-of-payments crises.
China's trade barriers biggest hurdle in bilateral ties, says Nirmala Sitharaman; flags $100 billion deficit
Nirmala Sitharaman has identified China's constraints on Indian exports as a crucial hindrance to trade advancement. The finance minister reported a staggering trade deficit exceeding $100 billion with China this year, even with improved diplomatic relations. She noted that non-tariff barriers obstruct Indian products, especially generic medicines, from entering China.
"India stands ready to work with ASEAN as reliable, equal partner": Rajnath Singh
Defence Minister Rajnath Singh on Wednesday called for stronger defence cooperation between India and ASEAN countries, including joint research on maritime security, counter-drone systems, cyber defence and disaster response, stressing that regional challenges require collective action and practical solutions.
India, Asean push to expedite AITIGA review, next round of talks in New Delhi in January
A new review meeting for the Asean-India Trade in Goods Agreement will occur in January 2024. This meeting aims to assess progress and guide future negotiations between the parties involved. Previous discussions were held in Indonesia, where the committee urged expediency in addressing pending issues. Emerging trade topics such as sustainability and digital trade were highlighted as important considerations.
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