Daily News - Tuesday, 11 February 2025
PM says US visit to deepen ties in trade, tech (Financial Express)
Prime Minister Narendra Modi has embarked on a two-nation visit to France and the US, beginning with co-chairing the AI Action Summit in Paris alongside President Emmanuel Macron, where discussions will focus on inclusive and responsible AI development, particularly for the Global South. The visit aims to strengthen India-France ties, with a key outcome being the establishment of an AI Foundation, while Modi and Macron will also review the 2047 Horizon Roadmap for their strategic partnership and engage in a CEO forum to boost business collaboration. Modi will then travel to Washington, D.C., on February 12–13 for his first meeting with President Donald Trump since his re-election, focusing on deepening the India-US Comprehensive Global Strategic Partnership in key sectors such as technology, trade, defence, energy, and supply chain resilience.
India sets up EFTA desk to promote trade (mint)
India has established a dedicated European Free Trade Association (EFTA) desk under Invest India to facilitate trade and investment following the Trade and Economic Partnership Agreement (TEPA) signed on March 10, 2023, with Iceland, Liechtenstein, Norway, and Switzerland. The agreement, expected to take effect by the end of 2025, includes a first-of-its-kind commitment of $100 billion in investment over 15 years while granting EFTA products such as Swiss watches, chocolates, and polished diamonds lower or zero import duties. The EFTA desk will serve as a centralized support system to assist EFTA businesses in navigating India’s market and regulatory landscape, enhancing ease of doing business and boosting economic ties between both regions.
Adani to enter healthcare, to partner Mayo (The Indian Express)
The Adani Group, in partnership with the US-based Mayo Clinic, is entering the healthcare sector with the launch of Adani Health City (AHC), investing at least ₹6,000 crore to build two 1,000-bed multi-super-speciality hospitals and medical colleges in Mumbai and Ahmedabad. These integrated campuses will feature advanced medical research facilities, AI-driven healthcare solutions, and training programs for doctors, with plans to expand across India to provide affordable, world-class medical care to all socio-economic groups. Mayo Clinic Global Consulting will offer strategic and clinical expertise, reinforcing Adani’s commitment to high-quality healthcare and medical education nationwide.
India’s oil & gas companies look to increase LNG imports from US (The Indian Express)
With the Trump administration prioritizing American energy exports, Indian oil and gas companies—GAIL, IOC, and BPCL—are in talks with US suppliers to increase liquefied natural gas (LNG) imports, aligning with India’s goal of raising natural gas in its energy mix from 6% to 15% by 2030. The discussions, set to intensify during PM Modi’s US visit and India Energy Week, come as Trump lifts Biden-era restrictions on new US LNG export projects, potentially boosting Washington’s position as the world’s top LNG exporter and helping India diversify supply sources beyond Qatar. Beyond securing LNG for India’s growing demand, higher US energy imports could also help balance India’s trade surplus with the US, with Indian firms considering not just long-term contracts but also potential stakes in American LNG projects for more stable and cost-effective supply.
TRUMP SLAPS 25% TARIFF ON STEEL, AL (Financial Chronicle)
US President Donald Trump plans to impose a 25% tariff on all steel and aluminium imports, including from major suppliers like Canada, Mexico, and the UAE, aiming to protect domestic industries that supported his election victory. The move has triggered threats of retaliation from Europe and warnings from China about the risks of a trade war, while market reactions saw aluminium futures rise and iron ore prices increase by 1% in Singapore. With US metal imports accounting for over 80% of aluminium demand and supporting key sectors like aerospace and auto manufacturing, the tariffs’ long-term impact remains uncertain, especially as Trump has previously used such trade measures as bargaining tools.
