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Terrorism must be countered decisively: PM Modi at BRICS Summit condemns Pahalgam attack

Prime Minister Modi, at the 17th BRICS Summit, emphasized the urgency to reform international bodies and condemned the Pahalgam terror attack as an assault on humanity.

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11 months ago

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BRICS

Prime Minister Narendra Modi, addressing the 17th BRICS Summit in Brazil during a session on ‘Peace and Security and Reform of Global Governance,’ termed terrorism as a “grave threat to humanity” and stressed the need for urgent reforms in global governance institutions. His comments came amid global discussions on strengthening peace and multilateral cooperation.

PM Modi, while referencing the April 22 terrorist attack in Jammu and Kashmir’s Pahalgam, welcomed the strong condemnation from BRICS member nations. He emphasized that terrorism impacts the whole of humanity and demanded strict action against those who fund, support, or shelter terrorists.

According to the Ministry of External Affairs, PM Modi stated that the current international institutions, built in the 20th century, are no longer adequate to address 21st-century challenges—especially for the developing world. He underlined the need for restructuring institutions like the United Nations Security Council, the International Monetary Fund, the World Bank, and the World Trade Organization to ensure they reflect today’s global realities.

Call for a multipolar and inclusive world

Reiterating India’s commitment to the Global South, the Prime Minister advocated for a multipolar world and more inclusive international governance. He noted that developing nations should be better supported in achieving sustainable growth, especially through improved access to climate finance and clean technologies.

In the context of BRICS’ future direction, PM Modi expressed that the group must continue promoting diversity and multipolarity. He suggested the formation of a BRICS science and research repository focused on resilient supply chains and critical mineral access, particularly benefitting the Global South.

Responsible AI and green initiatives

PM Modi also called on the BRICS nations to work collectively toward responsible development and use of artificial intelligence. He is scheduled to address sessions on climate action and public health, where he will highlight India’s environment-centric global initiatives, such as the International Solar Alliance, the Coalition for Disaster Resilient Infrastructure, and Mission LiFE.

Push for United Nations reforms

India’s demand for reforms in the United Nations and the Security Council received strong backing in the summit’s leaders’ declaration. A crucial section of the declaration supported comprehensive reforms to make the UN more representative and capable of addressing modern global challenges. It also acknowledged the rising importance of countries like India and Brazil in international governance.

The declaration highlighted the necessity of increasing the representation of developing nations from Africa, Asia, and Latin America—particularly BRICS countries—within multilateral frameworks.

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India considers tax relief to attract foreign investors amid Iran war impact

India is evaluating tax incentives, including a possible capital gains tax exemption on government securities for foreign investors, to support capital inflows amid economic pressures linked to the Iran war.

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2 hours ago

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June 4, 2026

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India is considering a set of measures aimed at attracting more foreign investment as the ongoing Iran war continues to create pressure on the country’s economy, according to reports citing government sources. One of the key proposals under discussion is the removal of capital gains tax on investments made by foreign portfolio investors (FPIs) in government securities.

The move comes at a time when geopolitical tensions in West Asia have pushed up global oil prices, weakened investor sentiment and increased pressure on the Indian rupee. India, which imports a significant share of its crude oil requirements, has been among the countries closely monitoring the economic fallout from the conflict.

Government exploring ways to boost capital inflows

Officials are reportedly evaluating tax-related incentives to make Indian debt markets more attractive to overseas investors. The proposed exemption on capital gains from government securities is aimed at encouraging foreign portfolio investment and supporting capital inflows during a period of heightened global uncertainty.

The government is seeking to counter the impact of foreign capital outflows that have intensified amid concerns over the Iran conflict and its implications for energy markets and global economic growth.

Rupee and markets under pressure

Recent weeks have seen increased volatility in financial markets, with foreign investors pulling money out of Indian equities. Analysts have linked part of the pressure on the rupee to rising oil prices and continued overseas investor withdrawals.

Market participants believe that measures aimed at attracting foreign investment into government securities could help improve investor confidence and provide support to the domestic currency.

Broader economic concerns

The Iran war has added to concerns about inflation, economic growth and India’s external sector. Higher energy prices can increase import costs and put pressure on inflation, while sustained foreign capital outflows may affect financial market stability.

While no final decision has been announced, discussions on easing tax rules for foreign investors reflect the government’s efforts to strengthen capital inflows and cushion the economy from external shocks.

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US proposes new tariffs on India over forced labour concerns amid trade negotiations

The United States has proposed additional tariffs on imports from India and 59 other economies following a Section 301 investigation into forced labour-related trade concerns.

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24 hours ago

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June 3, 2026

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Donald Trump statement

The United States has proposed imposing additional tariffs on imports from India and 59 other economies after concluding that these countries have not taken sufficient steps to prevent the importation of goods allegedly linked to forced labour. The proposal was announced by the Office of the US Trade Representative (USTR) as part of an investigation conducted under Section 301 of the US Trade Act.

According to the USTR’s findings, India could face an additional tariff of 12.5% on goods exported to the United States. The proposed measure is part of a broader plan targeting 60 economies, with tariff rates ranging between 10% and 12.5% depending on the findings related to each country.

India among countries facing higher tariff proposal

The USTR said India had not effectively enforced restrictions on imports made using forced labour, describing the issue as a burden on US commerce. The agency argued that inadequate enforcement by major trading partners creates unfair competition for American workers and businesses.

While countries including Canada, Mexico, the European Union and the United Kingdom are proposed to face a 10% tariff, India is among a larger group of economies that could be subjected to a 12.5% duty under the recommendation.

Proposal comes during India-US trade discussions

The tariff proposal has emerged while Indian and US officials are engaged in trade negotiations aimed at strengthening economic ties between the two countries. A US delegation led by Assistant USTR Brendan Lynch is currently holding discussions with Indian officials in New Delhi.

India’s Commerce Ministry has indicated that discussions with the United States on the matter are continuing and noted that the proposed tariffs have not yet been finalised. The USTR has invited public comments on the proposal until July 6, with a public hearing scheduled for July 7 before any final decision is taken.

Certain products may remain exempt

The proposed tariffs include exemptions for several categories of goods, including some energy products, pharmaceuticals, rare earth materials and selected agricultural commodities. Additional details regarding sector-specific measures, including proposed textile-related actions, are expected to be released separately.

The latest move follows a Section 301 investigation launched earlier this year into forced labour concerns across global supply chains. Any final decision on imposing the tariffs will be made after the consultation process is completed.

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Trump reportedly rebukes Netanyahu over Lebanon strikes amid ceasefire concerns

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2 days ago

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June 2, 2026

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US President Donald Trump reportedly delivered a sharp rebuke to Israeli Prime Minister Benjamin Netanyahu during a phone call over Israel’s military actions in Lebanon, as concerns grow that renewed hostilities could jeopardise fragile diplomatic efforts in the region.

According to multiple reports, Trump expressed frustration over Israeli strikes linked to ongoing tensions with Hezbollah in Lebanon. The reported exchange came at a sensitive time, with Washington attempting to prevent further escalation while also pursuing broader diplomatic discussions involving Iran.

Reports point to unusually tense exchange

Sources cited in international reports said Trump used unusually strong language during the conversation, warning that continued military actions risked damaging efforts to stabilise the situation. One report claimed Trump told Netanyahu that his actions were hurting Israel’s international standing and complicating diplomatic initiatives.

The reported disagreement followed Israeli operations against Hezbollah-linked targets in Lebanon. While Israeli officials argued that the actions were a response to security threats and ceasefire violations, the US administration has been pushing for restraint to avoid a wider regional conflict.

Lebanon fighting threatens broader diplomatic efforts

The latest tensions come amid efforts to maintain a ceasefire framework between Israel and Hezbollah. US officials have been involved in discussions aimed at reducing hostilities and preventing attacks on major Lebanese population centres, including Beirut.

Reports indicate that Trump personally intervened to discourage further escalation and support negotiations intended to preserve regional stability. Hezbollah has reportedly signalled a willingness to consider a broader ceasefire arrangement if reciprocal commitments are made.

Differing public messages after the call

Despite reports of a heated conversation, Trump later suggested publicly that discussions had been constructive and that progress had been made toward reducing tensions. Netanyahu, however, maintained that Israel would continue to respond to security threats and would not alter its overall approach toward Hezbollah if attacks persisted.

The developments highlight growing challenges facing diplomatic efforts in the Middle East, where the conflicts involving Israel, Lebanon and Iran remain closely interconnected. Analysts say any major escalation in Lebanon could further complicate ongoing negotiations and increase instability across the region.

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