US President Donald Trump and Russian President Vladimir Putin met in Alaska to discuss the Russia-Ukraine war, but failed to reach a definitive agreement. Both leaders spoke positively of the meeting, suggesting more talks could lead to a conclusion. However the market analysts believe the Indian stock market will not react sharply to the meeting's outcome, as no breakthrough was expected. Attention is now shifting to the upcoming Trump-Zelensky meeting. Global cues remain positive for the Indian market due to softer US inflation data, a fall in US 10-year bond yields, and expectations of a Fed rate cut. (PC: Firstpost & The Hindu)

In a modern echo of Mahatma Gandhi's Swadeshi movement, Prime Minister Narendra Modi's "Vocal for Local" campaign is being presented as India's answer to global trade challenges. The initiative, along with "Make in India" and "Atmanirbhar Bharat," aims to strengthen the domestic economy by encouraging citizens to prioritize indigenous products. This strategy is designed to boost local consumption, support artisans and small businesses, and reduce import dependence. Speaking at an inauguration event in Delhi, PM Modi said, “Have faith in Indian goods. If you are Indian, buy only goods made in India. You should decide to choose only those items that are made in India, by Indians." Though Modi’s pitch for ‘Vocal for Local’ comes after US President Donald Trump has announced tariffs totalling to 50% on India. These include an additional 25% duty on Indian purchases of Russian oil, set to come into effect from 27 August. India has criticised the move, calling it “unjustified and unreasonable". (PC: India Today & The Economic Times)

The United States has called off the planned trade talks with India, originally scheduled for August 25–29 in New Delhi, delaying negotiations over a proposed bilateral trade agreement . The cancellation comes as the U.S. is set to impose an additional 25 percent tariff on Indian goods beginning August 27—raising total duties as high as 50 percent—largely in response to India’s continued imports of Russian oil . This development follows a breakdown in earlier talks due to India’s reluctance to open its agricultural and dairy sectors and stop buying Russian oil. India has strongly criticized the decision, calling it unfair, and highlighted that other Western nations also maintain economic ties with Russia. (PC: Reuters)  

A U.S. trade delegation’s planned visit to New Delhi from August 25–29, 2025, for the sixth round of Bilateral Trade Agreement (BTA) negotiations, has been postponed with no new dates set . The deferment coincides with Washington’s imposition of hefty tariffs on Indian exports—initially 25%, followed by an additional 25% penalty for importing Russian oil, raising total duties to 50% . These escalating economic tensions, alongside unresolved demands for increased agricultural and dairy market access, have significantly stalled progress in talks. (PC: Reuters)

During his summit with Russian President Vladimir Putin in Alaska, U.S. President Donald Trump reiterated his claim that he stopped a potential war between India and Pakistan. In a Fox News interview, Trump said the two nations were “shooting down airplanes” and on the brink of nuclear conflict, which he resolved using trade leverage. India, however, maintains the ceasefire was achieved through direct military talks without U.S. mediation. Trump also mentioned resolving other global conflicts and criticized India’s purchase of Russian oil, threatening secondary sanctions. His recent 50% tariffs on Indian imports, including 25% on oil, drew sharp criticism from India’s Ministry of External Affairs, calling them unjustified and unreasonable. (PC: PTI)

A planned visit by a U.S. delegation to New Delhi for trade talks scheduled between August 25 and 29 has been called off, according to sources. The cancellation comes amid rising tensions over recent tariff decisions and diplomatic friction. While no official reason has been disclosed, the visit is likely to be rescheduled. The talks were expected to address key trade issues, including tariffs and strategic economic cooperation. This development adds uncertainty to India-U.S. trade relations, especially following President Trump’s controversial tariff hikes on Indian goods. Officials are reportedly working to find new dates for the dialogue, aiming to restore momentum in bilateral negotiations. (PC: NDTV & Semafor)

Renowned U.S. economist Jeffrey Sachs has condemned President Donald Trump’s 50% tariffs on Indian imports, calling them “stupid,” “delusional,” and damaging to the U.S. economy. In an interview with ANI, Sachs argued the move stems from hostility toward the BRICS bloc and violates international law. He warned the tariffs would fail economically and politically, describing them as unconstitutional and a breakdown of U.S. foreign policy. Sachs urged India not to rely on the U.S. for strategic security or trade, emphasizing that Washington’s interests diverge from New Delhi’s. He identified China, Russia, and Brazil as India’s real partners and dismissed the idea of India replacing China in global supply chains. (PC: Al Jazeera)

India’s knitwear hub Tiruppur faces a severe crisis after U.S. President Donald Trump imposed steep tariffs on Indian exports. With 20,000 factories and 30 lakh jobs at risk, Tamil Nadu CM MK Stalin has urged PM Modi for urgent intervention. Tiruppur contributes 68% of India’s knitwear exports, with 40% going to the U.S. Exporters, especially those reliant on American buyers, are struggling to absorb the 25% tariff, and fear a proposed 50% hike. Orders have been halted, and shipments are restricted post-August 27. Stalin warned that Tamil Nadu’s high dependency on U.S. trade could lead to disproportionate economic damage and mass unemployment.(PC: India Today & News18)

U.S. President Donald Trump signaled that Washington may hold off on imposing secondary tariffs on India for continuing Russian oil imports. While India already faces steep duties—raised from 25% to 50%—Trump indicated no immediate escalation, saying the issue could be reconsidered in “two or three weeks.” The statement follows high-level U.S.–Russia talks in Alaska and comes amid ongoing global pressure over Moscow’s energy exports. Analysts view the pause as a temporary reprieve, giving India space for diplomatic engagement while the U.S. balances strategic ties, energy market stability, and its broader sanctions policy toward Russia. (PC: Reuters)  

India’s Ministry of External Affairs welcomed the recent Alaska summit between US President Donald Trump and Russian President Vladimir Putin, lauding their pursuit of peace as "highly commendable" and affirming that the only viable path forward is through dialogue and diplomacy. While the summit concluded without a formal ceasefire or agreement on the Ukraine conflict, New Delhi emphasized the importance of sustained diplomatic engagement as the most effective means to end hostilities. India echoed this sentiment by reiterating its longstanding support for multilateral dialogue over conflict resolution. (PC: AP)