Daily News - Wednesday, 19 March 2025
India, Malaysia agree to speed up Asean trade deal review (Financial Express)
India and Malaysia have agreed to expedite the review of the ASEAN-India Trade in Goods Agreement (AITIGA) and aim to conclude it by the end of 2025, with the eighth joint committee meeting scheduled for April 9-11 in New Delhi. The review, initiated in 2019 due to India’s concerns over a rising trade imbalance, is being led by a joint committee with eight sub-committees addressing specific areas. Malaysia, India’s third-largest trading partner in ASEAN with bilateral trade reaching $20.02 billion in 2023-24, also discussed market access and semiconductor collaboration during the recent bilateral meeting.
India needs satellite internet, says Scindia (Financial Express)
India is pushing for satellite internet to enhance rural connectivity and disaster resilience, with Communications Minister Jyotiraditya Scindia emphasizing the complementary role of satellite services alongside terrestrial and fiber networks. While Elon Musk’s Starlink awaits regulatory approval and local spectrum pricing rules, recent partnerships with Indian telecom giants Reliance Jio and Bharti Airtel signal growing acceptance despite the country’s low data costs of $0.11 per gigabyte. Global players like Starlink, Amazon’s Project Kuiper, and OneWeb must meet India’s security conditions to secure licenses, with Scindia affirming that the market is open to all and pricing will be determined by individual firms.
Trump's ‘America first’ policy isn't ‘America alone’: Tulsi Gabbard (Financial Express)
At the Raisina Dialogue, US Director of National Intelligence Tulsi Gabbard clarified that President Donald Trump’s “America First” policy aligns with Prime Minister Narendra Modi’s “India First” approach and should not be interpreted as “America alone.” Gabbard highlighted the Trump administration’s commitment to strengthening India-US ties, particularly in security and the Indo-Pacific, while avoiding mention of India’s concerns about pro-Khalistan activities or upcoming reciprocal tariffs on trade. Expressing optimism about future bilateral cooperation, she described the Modi-Trump meeting in Washington DC as a “reconnection of two old friends,” emphasizing continued growth in the partnership.
India, NZ aim to seal free trade deal in just 60 days (mint)
India and New Zealand have initiated negotiations for a Free Trade Agreement (FTA) and aim to conclude it within 60 days, with Commerce Minister Piyush Goyal and New Zealand’s Trade Minister Todd McClay leading the discussions. At the India-New Zealand Economic Forum, New Zealand Prime Minister Christopher Luxon highlighted the vast potential in sectors like food processing, pharmaceuticals, renewable energy, and education, while Goyal projected that bilateral trade could increase tenfold within a decade. This accelerated negotiation mirrors India’s previous success with the UAE, where the Comprehensive Economic Partnership Agreement was finalized in a record 88 days.
Gold hits ₹91,250, Silver at new high of ₹1,02,500 (Financial Chronicle)
Gold prices in India surged by ₹500 to a record ₹91,250 per 10 grams on Tuesday, following Monday’s ₹1,300 rise to ₹90,750 per 10 grams, driven by strong domestic demand and global uncertainties. Analysts attribute the surge to fears surrounding US President Donald Trump’s policies, the risk of a US recession, geopolitical tensions in the Middle East, and expectations of multiple interest rate cuts by the US Federal Reserve due to weak US macroeconomic data. Meanwhile, silver remained flat at ₹1,02,500 per kg, while gold futures on the Multi Commodity Exchange (MCX) rose by ₹649 (0.73%) to a fresh peak of ₹88,672.
