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ASEAN Summit: PM Narendra Modi presents India as an attractive investment destination

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ASEAN Summit: PM Modi presents India as an attractive investment destination

[vc_row][vc_column][vc_column_text]Inviting ASEAN countries to ramp up investment in India, Prime Minister Narendra Modi on Monday spoke of the economic reforms undertaken in the country to boost trade and investment.

Earlier in the day, PM Modi met US President Donald Trump on the sidelines of the 31st ASEAN Summit in Manila, Philippines. Trump reportedly congratulated the Indian leader for “a lot of good reports coming out of India”.

Modi arrived in Philippines on Sunday for a three-day visit during which he will also attend the 12th East Asia meet on Tuesday.

Addressing the ASEAN meet, the PM said the task of transforming India is proceeding on an “unprecedented scale”. Speaking at the ASEAN Business Forum in Manila, the Philippines capital, the Prime Minister said most sectors of the Indian economy were opened up for foreign direct investment, adding the country’s economy is now “globally integrated.”

The trade ties between India and ASEAN are on an upswing and both sides want to further boost the trade and investment cooperation.

The ASEAN region, along with India, together comprises a combined population of 1.85 billion people, which is one fourth of the global population and their combined GDP has been estimated at over $3.8 trillion.

Investment from ASEAN to India has been over $70 billion in the last 17 years accounting for more than 17 per cent of India’s total FDI. India’s investment in ASEAN during the same period has been more than $40 billion.

Modi sought to highlight India’s economic reforms to woo investors. “The task of transforming India is proceeding on an unprecedented scale. We are working day and night to ensure good governance which includes easy, effective and transparent governance,” he said, noting that more than 90% FDI sectors are on automatic approval route.

Modi listed major economic reform measures taken by his government, including rolling out of the Goods and Services Tax (GST) and new laws and institutions for bankruptcy and insolvency proceedings. He said 1,200 out-dated laws have been repealed in the last three years as part of reform measures.

“India has climbed 30 places in the World Bank Ease of Doing Business Index this year. It is the biggest jump by any country this year and a recognition of India’s long term reform trajectory. And, the world is taking notice. We have moved up 32 places in the last two years in the Global Competitiveness Index of the World Economic Forum,” said Modi.

He said various reform measures coupled with demonetisation of high-value notes have resulted in formalising a large part of the Indian economy.

On trade with ASEAN countries, Modi said India wants to build land, sea and air connectivity to this dynamic region and that work is already on in the construction of the tri-lateral highway through Myanmar and Thailand to connect to other countries in South East Asia.

“We are working on the early conclusion of the Agreement on Maritime Transport between India and ASEAN and are exploring coastal shipping services with countries that are our immediate maritime neighbours,” he added.

“The ‘Act East’ policy of my government puts this region at the centre of our engagement. We have exceptionally good political and people-to-people relations with each and every country in the ASEAN region,” he said.

Modi said his government wants to make India a global manufacturing hub and at the same time it wants the youths of the country to be job creators and not just job seekers.

The Prime Minister said 36 “white industries” have been taken out from the requirement of environmental clearance. Incorporating a company is now just a one day affair, he said.

The PM also talked about the open auction policy for natural resources including telecom spectrum, coal mines and other minerals and even private radio channels, which he said has together contributed about $75 billion in revenue.

“Using technology, we are enhancing responsibility and reducing discretion and corruption. We are using our Unique ID system in financial transactions and taxation for this purpose and the results are already visible. These steps, coupled with demonetisation of high-value notes, have resulted in formalising a large part of our economy,” he said.

Modi said the number of new tax payers filing income tax returns has more than doubled and that digital transactions have increased by 34% in one year, as “we march towards a less-cash economy.”

“We have used technology to reach out to people. An online citizen engagement platform, MyGov has harnessed ideas, suggestions and inputs on policies and programmes from 2 million pro-active citizens,” he added.

On GST, he said it has done away with a vast range of State-level and Central-level taxes through-out India. “This is no small achievement given the vastness and diversity of our country and the federal nature of our polity,” he added.

Prime Minister Narendra Modi said a “very large part” of India’s population had no access to banking services and launch of the Jan Dhan Yojana resulted opening of 197 million bank accounts in one year, adding till August this year, 290 million such accounts have been opened in Indian banks. He said more than 146 million people are receiving direct cash subsidies through bank accounts on cooking gas alone.

“Today, the government is using Direct Benefit Transfers for 59 different schemes. Subsidies worth nearly $10 billion are being directly transferred to the bank accounts of the intended beneficiaries,” he added.

“For the first time in India, collateral-free loans have been disbursed to more than 90 million small entrepreneurs under the Mudra scheme. Very near to the population of Philippines,” the PM said.

He said India is organising an ASEAN-India Connectivity Summit in New Delhi next month with Ministers, officials and business representatives from all ASEAN countries. India is also organising an ASEAN-India Commemorative Summit of ASEAN leaders in January next year.[/vc_column_text][/vc_column][/vc_row]

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Bondi Beach shooting during Jewish festival leaves at least 15 dead

Australia’s Bondi Beach was rocked by the deadliest shooting in decades as a father and son opened fire during a Jewish festival, killing at least 15 people.

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Bondi shooting Australia

At least 15 people were killed and dozens injured after a mass shooting at Sydney’s iconic Bondi Beach during a Jewish celebration, in what authorities have described as the deadliest gun attack in Australia in almost 30 years.

Police on Monday confirmed that the two attackers were a father and his son. The older man, identified as 50-year-old Sajid Akram, was shot dead by police at the scene, while his 24-year-old son Naveed Akram was injured and is undergoing treatment at a hospital.

The attack occurred during the “Chanukah by the Sea” event, held to mark the beginning of the eight-day Hanukkah festival. Around 1,000 people were attending the gathering in a small park near the beach when gunfire erupted, triggering panic among crowds enjoying a busy summer evening.

What happened at bondi beach

According to authorities, emergency services received the first calls about shots being fired around 6:45 pm. Witnesses said the attack lasted roughly 10 minutes, with people running across the sand and into nearby streets to escape the gunfire.

Videos from the scene showed two men firing long guns from a footbridge leading to the beach. Police have not officially confirmed the exact weapons used, though footage suggested a bolt-action rifle and a shotgun.

In one widely shared clip, a bystander was seen tackling and disarming one of the gunmen. The man was later praised by state leadership as a “genuine hero.” A public fundraising effort launched for him had raised over A$200,000 by Monday morning.

Attackers and investigation

Police said one of the attackers was known to security agencies, though there was no prior indication of a planned assault. Authorities later confirmed they were confident only two people were involved.

The younger attacker is an Australian-born citizen. Officials said the father had arrived in Australia in 1998 on a student visa, later transitioning to other residency permits. Investigators also searched the family’s home in Bonnyrigg, in western Sydney, where a heavy police presence remained through Monday.

Victims and community impact

Those killed ranged in age from 10 to 87 years. At least 42 others were hospitalised, several of them in critical condition. An Orthodox Jewish organisation confirmed that one of the victims was Rabbi Eli Schlanger, an assistant rabbi and one of the organisers of the event.

Eyewitnesses described scenes of chaos and fear. A young lifesaver present at the beach said seeing injured people, including children, was deeply distressing and unlike anything he had experienced before.

Community leaders urged unity and calm in the aftermath, stressing the importance of supporting those affected rather than allowing anger to divide communities.

Leaders condemn attack

Australian Prime Minister Anthony Albanese visited Bondi Beach on Monday to pay tribute to the victims, calling the shooting a “dark moment for our nation.” He described the incident as an act of antisemitism and terrorism, assuring the Jewish community of the government’s full support.

Several world leaders, including the US President, the French President and India’s Prime Minister Narendra Modi, condemned the attack and expressed solidarity with Australia.

Authorities said the shooting was the most serious antisemitic attack in the country in decades, coming amid a rise in incidents targeting Jewish institutions since late 2023. Investigations into the motive behind the attack are ongoing.

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US lawmakers move resolution to roll back Trump’s 50% tariffs on Indian imports

Three US lawmakers have moved a resolution to end Trump’s emergency declaration that imposed 50% tariffs on Indian goods, calling the move illegal and harmful to trade ties.

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Three members of the US House of Representatives have introduced a resolution seeking to end former President Donald Trump’s national emergency declaration that led to steep tariffs on imports from India. The lawmakers termed the duties illegal and warned that they have hurt American consumers, workers and long-standing India-US economic ties.

The resolution has been moved by Representatives Deborah Ross, Marc Veasey and Raja Krishnamoorthi. It aims to terminate the emergency powers used to impose import duties that cumulatively raised tariffs on several Indian-origin goods to 50 per cent.

What the resolution seeks to change

According to details shared by media, the proposal specifically seeks to rescind an additional 25 per cent “secondary” tariff imposed on August 27, 2025. This was levied over and above earlier reciprocal tariffs, taking the total duty to 50 per cent under the International Emergency Economic Powers Act.

The House move follows a separate bipartisan effort in the US Senate that targeted similar tariffs imposed on Brazil, signalling growing resistance in Congress to the use of emergency powers for trade actions.

Lawmakers flag impact on US economy and consumers

Congresswoman Deborah Ross highlighted the deep economic links between India and her home state of North Carolina, noting that Indian companies have invested over a billion dollars there, creating thousands of jobs in sectors such as technology and life sciences. She also pointed out that manufacturers from the state export hundreds of millions of dollars’ worth of goods to India each year.

Congressman Marc Veasey said the tariffs amount to a tax on American households already facing high costs, stressing that India remains an important cultural, economic and strategic partner for the United States.

Indian-American Congressman Raja Krishnamoorthi described the duties as counterproductive, saying they disrupt supply chains, harm American workers and push up prices for consumers. He added that rolling back the tariffs would help strengthen economic and security cooperation between the two countries.

Background of the tariff hike

Earlier in August 2025, the Trump administration imposed a 25 per cent tariff on Indian goods, which came into effect from August 1. This was followed days later by another 25 per cent increase, citing India’s continued purchase of Russian oil. The combined duties were justified by the administration as a measure linked to Moscow’s war efforts in Ukraine.

Wider push against unilateral trade actions

The latest resolution is part of a broader push by congressional Democrats to challenge unilateral trade measures and reassert Congress’ constitutional authority over trade policy. In October, the same lawmakers, along with several other members of Congress, had urged the President to reverse the tariff decisions and work towards repairing strained bilateral relations with India.

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Mexico imposes 50% tariff on Indian imports, auto exports maybe hit

Mexico’s approval of 50% import duties on select goods from India and other Asian countries threatens nearly $1 billion worth of Indian exports, especially in the automobile sector.

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Mexico has cleared steep import duties of up to 50% on several goods from Asian nations, a move that places nearly $1 billion worth of Indian exports at risk from January 1, 2026. The decision targets countries that do not have a trade agreement with Mexico, including India, South Korea, China, Thailand and Indonesia.

Mexico moves to shield domestic industry

The new duties—covering items such as automobiles, auto parts, textiles, plastics, steel, footwear, furniture, toys, appliances, leather goods, and cosmetics—are aimed at strengthening local manufacturing. Mexico says the tariff push is designed to reduce dependence on Asian imports and support domestic producers.

China stands to face the highest impact, with Mexican imports from the country touching $130 billion in 2024. According to Mexico, the revised tax structure is also expected to generate $3.8 billion in additional revenue.

Mexican President Claudia Sheinbaum has backed the decision, framing it as an investment in domestic employment creation. Analysts, however, believe the move may also align with the United States’ expectations ahead of the upcoming United States–Mexico–Canada (USMCA) review.

Impact on India’s automobile exports

The sharpest blow for India will fall on its automobile sector. Imports of passenger cars into Mexico will now face 50% duty instead of the earlier 20%, threatening the competitiveness of major exporters including Volkswagen, Hyundai, Nissan and Maruti Suzuki.

Industry estimates cited in a report say around $1 billion worth of Indian automobile shipments could be affected. Ahead of the tariff announcement, an industry body had urged the Indian government to engage with Mexican authorities to safeguard market access.

Mexico is currently India’s third-largest car export destination, trailing only South Africa and Saudi Arabia.

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