Thane, Feb 7 (PTI) Three autorickshaws and a motorcycle were destroyed in a fire that broke out in a makeshift hut in Maharashtra's Thane city on Saturday morning, an official said. There were no casualties in the incident that occurred on the Mumbra bypass road around 7.40 am, the official said
India's foreign exchange reserves climbed by a sharp $14.361 billion to touch a fresh all-time high of $723.774 billion in the week ended January 30, according to the latest data released by the Reserve Bank of India (RBI). This follows an increase of $8.053 billion in the previous reporting week
Independent MP Pappu Yadav questioned the police for arriving in civil clothes, saying he initially feared they had come to kill him. Independent MP from Bihar's Purnea Pappu Yadav alias Rajesh Ranjan was arrested by the Patna Police from his residence late on Friday night in connection with a 1995
Under the leadership of Suryakumar Yadav, the Men in Blue are chasing two unprecedented milestones: becoming the first team to successfully defend a T20 World Cup title and the first host nation to win the tournament on home soil since its inception in 2007.Under the leadership of Suryakumar Yadav
Drivers of app-based taxis and autorickshaws across India are holding a nationwide one-day strike on 7 February, coordinated by the Telangana Gig and Platform Workers Union (TGPWU). The strike has been publicised as an ‘All India Breakdown' and is intended as a mark of protest
India did better than most other nations to have logical process rather than succumb to chaos: Former US Assistant Secretary of Commerce
India has navigated a bilateral trade agreement framework with the US more logically than many nations, according to former US Assistant Secretary of Commerce Raymond Vickery. He noted that while the US President favors rapid announcements, India's approach aims for a more deliberate process to achieve a lasting agreement.
With India signing off on a framework for the bilateral trade agreement with the US a number of new opportunities have been unlocked for India. Speaking on the tenets of the framework, former US Assistant Secretary of Commerce Raymond Vickery said that India has done better than most other nations in having a logical and deliberate process rather than falling into the chaos created by US President Donald Trump.
Vickery, in a conversation with ANI, noted that even today, India aspires to reach an agreement, which is how mostly agreements work.
"Well, I think the timeline is really completely out of the usual way in which great trading partners reach agreements. The standard way in which to do this is to work out details first, which takes more than a year to work out the details. And then when those details are worked out, to have a joint statement saying that this is the agreement," he said.
"This is not the Trump style, obviously. The style is to announce something which may or may not be reality and then to try to cram into the framework, if you will, which has been set, a set of standards which bring about a real agreement. So the timeline here, India has done well in terms of trying to work through kinds of details. But you will notice that on the India side, even as of today, India is talking about really reaching some agreement in a couple of months. And that would be a more usual way in which trade agreements work. And as I say, it has not been the style of the President Trump," he added.
Vickery further said that the US and India need to cooperate on the Russian oil issue. The White House on Thursday (local time) revoked the additional 25% tariff imposed on India after a commitment to stopping the import of Russian Oil.
"Nevertheless, there is a great need for these two great democracies, the US and India, to be able to cooperate on Russian oil, which of course is key to what happens about the Russian invasion of Ukraine. So in regard to timeline, this is an unusual way to approach it. India has done better than most other nations in trying to have a logical and deliberate process rather than succumb to the chaos which President Trump favors to be able to have transactions in which he can claim victory," he said.
"And I think that the business of issuing an executive order now about Russian oil exemplifies this. President Trump said that Prime Minister Modi had agreed to stop buying Russian oil. Well, the relationship between Russia and India is not one which is going to be discarded overnight in regard to Russia or any other matter," he added.
Vickery further said that as India is still pushing for a process to adopt a formal agreement, the Trump administration also needs to move towards the same.
"And it remains to be seen whether or not there can be a sufficiently logical and deliberate process which will stand the test of time. You know, it's one thing to go on social media and say something. It's quite another thing to have an agreement which is operationally sufficient so that you have something which lasts more than for the immediate transaction. The whole problem here with the Trump administration is rather than trying to look at building the relationship between US and India, is to try to have a transaction to push these very complicated trade matters into a framework which is not one which necessarily stands the test of time," he said.
The US and India announced that they have reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade (Interim Agreement). Today's framework reaffirmed the countries' commitment to the broader US-India Bilateral Trade Agreement (BTA) negotiations, launched by US President Donald Trump and Prime Minister Narendra Modi on February 13, which will include additional market access commitments and support more resilient supply chains.
The Interim Agreement between the United States and India will represent a historic milestone in our countries' partnership, demonstrating a common commitment to reciprocal and balanced trade based on mutual interests and concrete outcomes, as stated in the joint statement.
Add as a Reliable and Trusted News Source Add Now!
Source: EconomicTimes
Related Posts: India eyeing collaboration across different sectors during PM's Malaysia visit Major Blow for India India’s cheapest 7-seater car Greek Defence Minister on India visit India likely to add 2 US, India unveil framework for interim trade agreement India reacts to Trump’s Russian oil claim India Wins U19 WC US, India release framework for interim trade deal India, Malaysia to set up multi-layer chip collaboration during PM Modi's trip
While many young professionals pursue high-paying corporate careers, a man from Gurugram chose a different path. He left a lucrative job to start his own business, and the results have been remarkable. Saket Saurabh is the co-founder and CEO of The Momos Mafia
1 minutes ago
New Delhi: The Saudi Arabian Ministry of Hajj and Umrah has begun finalizing preparations for Hajj 2026 (1447 Hijri according to the Islamic calendar). The ministry has officially announced that the process of issuing Hajj visas will begin on February 8, 2026
1 minutes ago
South Korean cryptocurrency exchange Bithumb said on Saturday it had accidentally given away more than $40 billion worth of bitcoins to customers as promotional rewards, triggering a sharp selloff on the exchange.Bithumb apologised for the mistake
1 minutes ago
Karnataka Congress leader allegedly abused a Booth Level Officer(BLO) over an issue regarding the voter list in Chikkaballapur. An audio clip allegedly involving Chikkaballapur Congress taluk president Nagesh Reddy is going viral on social media, triggering political embarrassment for the party
1 minutes ago
A delegation of transport and delivery gig workers met the Leader of Opposition in Lok Sabha, Rahul Gandhi, to discuss the need for legislation from the Centre and implementations of regulations in Congress-ruled states, the Telangana Gig And Platform Workers Union's Founder President said
1 minutes ago
A union of app-based taxi and autorickshaw drivers observed a nationwide one-day strike on Saturday, raising demands including relief over the cost of installing panic buttons. The Maharashtra Kamgar Sabha said the protest is also against illegal bike taxi services and fare policies of ride-hailing
1 minutes ago
US President Donald Trump has removed a social media video which included a racist clip depicting Barack and Michelle Obama as apes. The clip - set to the song The Lion Sleeps Tonight - was at the end of a 62-second video he shared containing claims about voter fraud in the 2020 presidential
1 minutes ago
Commuters across India may experience disruptions on Saturday, February 7, due to a nationwide strike called by drivers associated with app-based ride-hailing platforms Ola, Uber, and Rapido. The protest, termed the ‘All India Breakdown
1 minutes ago
India has navigated a bilateral trade agreement framework with the US more logically than many nations, according to former US Assistant Secretary of Commerce Raymond Vickery. He noted that while the US President favors rapid announcements, India's approach aims for a more deliberate process to
1 minutes ago
Oppo is gearing up for its next premium smartphone launch, as the company has confirmed that it will launch the Oppo Find X9s in India soon. Oppo has already launched the Find X9 and Find X9 Pro smartphones in the country, with this device also likely to offer a premium design
1 minutes ago
The police in Goa have said that they will detain persons found clicking photographs of foreign tourists without consent or forcing selfies with them, PTI reported on Friday. This came after several incidents of domestic tourists photographing foreign women or insisting on selfies on beaches have
1 minutes ago
Six-time MP Rajesh Ranjan alias Pappu Yadav, who won the last Lok Sabha poll in 2024 as an Independent candidate from Purnea constituency, was arrested late on Friday (February 6, 2026) night in a 31-year old case of his repeated absence from hearings in the court
1 minutes ago
US President Donald Trump has signed an executive order targeting the Iranian regime, creating a framework to impose tariffs on countries that continue to trade with Iran, the White House announced on Saturday. In a post on X, the White House wrote, “President Donald J
1 minutes ago
Ruby Bhatia was one of the most recognisable faces of 1990s Indian television. From anchoring music shows to interviewing Bollywood stars, she shaped the way a generation consumed pop culture long before social media existed. A former Miss India Canada and India's first video jockey
1 minutes ago
Polling for 12 Zilla Parishads and 125 Panchayat Samitis across 12 districts of Maharashtra began on Saturday morning under tight security. Over 7,400 candidates are contesting for 731 Zilla Parishad and 1,462 Panchayat Samiti seats, with more than 2 crore eligible voters expected to take part
1 minutes ago
Gold reserves record a substantial jump, rising by $14.595 billion to $137.683 billion during the week ended January 30. India's foreign exchange reserves climbed by a sharp $14.361 billion to touch a fresh all-time high of $723.774 billion in the week ended January 30
1 minutes ago
Tyre maker MRF on Friday (February 6, 2026) posted a two-fold jump in its consolidated net profit to ₹692 crore for the third quarter ended December 2025, riding on the back of robust sales to companies and replacement sales. The company had reported a net profit of ₹315 crore for the
1 minutes ago
Lebanon inked an agreement with Syria on Friday (February 6, 2026) to hand some 300 convicts over to Damascus, a move seen as key to helping turn a new page in ties between the countries. Overcrowded Lebanese prisons hold more than 2,200 Syrians held on various charges
1 minutes ago
Other provisions of the agreement include the elimination of tariffs on selected aircraft and related components, according to a separate joint statement issued by the White House on Friday. US President Donald Trump on Friday signed an executive order removing the additional 25% tariff that had
1 minutes ago
This victory adds another glorious chapter to India's rich Under-19 legacy, which began in 2000. The Indian U19 men's cricket team has been crowned champions of the ICC Under-19 World Cup 2026 for a record-extending sixth time. In a dominant display at the Harare Sports Club on Friday
1 minutes ago
Tata Steel Q3 Results: Its total income in October-December 2025 rises to Rs 57,503.49 crore, compared with Rs 53,869.33 crore in the year-ago period. Tata Steel on Friday reported an 824 per cent jump in its consolidated profit to Rs 2,730.37 crore for the third quarter ended December 2026
1 minutes ago
In what has come as a fresh setback to two-time Olympic medallist Sushil Kumar, his bail request was denied again by a Delhi court, having been charged with the murder of Sagar Dhankar. The Delhi police had arrested Sushil in connection with the murder of former junior national wrestling champion
1 minutes ago
India and the USA announced on Saturday a framework for an interim agreement “regarding reciprocal and mutually beneficial trade". A statement by India said the move reaffirmed their commitment to the broader US-India Bilateral Trade Agreement (BTA) negotiations
1 minutes ago
United States President Donald Trump on Friday removed the additional 25% punitive tariff on Indian goods imposed for New Delhi's purchase of Russian oil, bringing the effective US tariff rate on Indian imports down to 18%. Indian goods had been facing a combined US tariff rate of 50%
1 minutes ago
Sri Lanka Cricket has urged Pakistan to reconsider its planned boycott of a Twenty20 World Cup game against India in Colombo next week, saying a forfeited match could hit the tourism sector of a country still recovering from an economic collapse
1 minutes ago
Iran's Foreign Minister Abbas Araghchi on Friday (February 6, 2026) described the atmosphere of talks with the United States as positive, with the two sides agreeing to proceed with negotiations. The talks took place following threats from Washington and after it recently deployed an aircraft
1 minutes ago
The visit, at the invitation of Malaysian Prime Minister Anwar Ibrahim, aims to review the full spectrum of bilateral ties and provide fresh momentum to the Comprehensive Strategic Partnership between the two countries. Prime Minister Narendra Modi on Saturday departed for his visit to Malaysia
1 minutes ago
