MEA Secy Dammu Ravi chairs round table discusison for infrastructure projects in Global South

Mumbai (Maharashtra) [India], August 8 : Ministry of External Affairs Secretary (Economic Relations) Dammu Ravi chaired a round table discussion with financial stakeholders in Mumbai to explore innovative finaning mechanisms for infrastructure projects in the Global South, the Ministry of External Affairs spokesperson said.

The official Spokesperson of MEA Randhir Jaiswal in a post on X said, "Secretary (ER) Dammu Ravi chaired a round table discussion with financial sector stakeholders in Mumbai today to explore innovative financing mechanisms for infrastructure projects in the Global South"

"Participants included leading banks, investment funds, pension funds, AMCs and infrastructure companies, " the post added.

https://x.com/MEAIndia/status/1953461456944476599

On Wednesday, US President Donald Trump signed an Executive Order imposing an additional 25 per cent tariff on imports from India.

According to the order issued by the White House, Trump cited matters of national security and foreign policy concerns, as well as other relevant trade laws, for the increase, claiming that India's imports of Russian oil, directly or indirectly, pose an "unusual and extraordinary threat" to the United States.

After the order, the total tariff on Indian goods will be 50 per cent. While the initial duty becomes effective on August 7, the additional levy will come into effect after 21 days and will be imposed on all Indian goods imported into the US, except for goods already in transit or those meeting specific exemptions.

The Executive Order also allows for modifications based on changing circumstances, including potential retaliation by other countries or steps taken by Russia or India to address the national emergency.

Earlier in a strong message against the tariffs imposed by the United States, Prime Minister Narendra Modi on Thursday asserted that farmers remain India's top priority and that the country would never compromise their interests.

"For us, the interest of our farmers is our top priority. India will never compromise on the interests of farmers, fishermen and dairy farmers. I know we will have to pay a heavy price for it, and I am ready for it. India is ready for it," PM Modi said while addressing the MS Swaminathan Centenary International Conference.

However, India has so far resisted opening the agricultural sector and dairy products, due to concerns about domestic livelihoods and potential impacts on farmers.

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