Newsroom, Sept 4: The Indian rupee on Wednesday further declined to a record low of 71.75 against the US dollar.
The rupee witnessed a drop of 44 paise yesterday and further 19 paise today.
Around 10.40am the Indian rupee traded at 71.75 to a dollar - the lowest ever mark - it has touched against the greenback.
Against the UAE dirham, the rupee was trading at 19.53 at 9:30am (UAE time).
New Delhi/Washington, Feb 14: India has offered to partially open up its poultry and dairy markets in a bid for a limited trade deal during US President Donald Trump's first official visit to the country this month, people familiar with the protracted talks say.
India, the world's largest milk-producing nation, has traditionally restricted dairy imports to protect the livelihoods of 80 million rural households involved in the industry.
But Prime Minister Narendra Modi is trying to pull all the stops for the US President's February 24-25 visit, aimed at rebuilding bonds between the world's largest democracies.
In 2019, President Trump suspended India's special trade designation that dated back to 1970s, after PM Modi put price caps on medical devices, such as cardiac stents and knee implants, and introduced new data localization requirements and e-commerce restrictions.
President Trump's trip to India has raised hopes that he would restore some of the country's US trade preferences, in exchange for tariff reductions and other concessions.
The United States is India's second-largest trade partner after China, and bilateral goods and services trade climbed to a record $142.6 billion in 2018. The United States had a $23.2 billion goods trade deficit in 2019 with India, its 9th largest trading partner in goods.
India has offered to allow imports of US chicken legs, turkey and produce such as blueberries and cherries, government sources said, and has offered to cut tariffs on chicken legs from 100 per cent to 25 per cent. US negotiators want that tariff cut to 10 per cent. The Modi government is also offering to allow some access to India's dairy market, but with a 5 per cent tariff and quotas, the sources said. But dairy imports would need a certificate they are not derived from animals that have consumed feeds that include internal organs, blood meal or tissues of ruminants.
New Delhi has also offered to lower its 50 per cent tariffs on very large motorcycles made by Harley-Davidson, a tax that was a particular irritant for President Trump, who has labelled India the "tariff king." The change would be largely symbolic because few such motorcycles are sold in India.
President Trump will be feted in PM Modi's home state of Gujarat, then hold talks in New Delhi and attend a reception that the hosts have promised will be bigger than the one organised for former president Barack Obama in 2015.
But it is far from clear whether India's offers will be enough to satisfy US Trade Representative Robert Lighthizer, who cancelled plans for a trip to India this week. Instead, he has held telephone talks with Commerce Minister Piyush Goyal.
The US dairy industry remained sceptical on Thursday that a viable deal is at hand.
"We're always looking for market access, but in terms of India, as of today I'm not aware of any real progress going on," said Michael Dykes, president of the International Dairy Foods Association and a member of USTR's agricultural trade policy advisory committee.
Mr Dykes said the US dairy industry was looking for access in viable commercial quantities.
A USTR spokesman and India's trade ministry did not respond to requests for comment.
A parliament panel is reviewing a draft data privacy law that imposes stringent controls over cross-border data flows and gives the government powers to seek user data from companies.
It is not clear whether it will be passed, or in what form, but the possibilities have unnerved US companies and could raise compliance requirements for Google, Amazon.com Inc, and Facebook.
The draft law is not part of the trade discussions, Indian officials say, because the issue is too difficult to resolve at the same time.
"The privacy and localization piece will be raised independently and in concert with the trade discussions," said a Washington-based source with knowledge of the US administration's thinking.
President Trump on Tuesday was non-committal about sealing a trade deal before his visit. "If we can make the right deal, we'll do it," he told reporters.
Two US sources said progress had been made on proposed alterations to the medical device price caps. India's new import tariffs on medical devices, walnuts, toys, electronics and other products on February 1 surprised US negotiators, however.
The new tariffs were aimed at China, which also makes medical devices, according to an Indian government source. "We have to protect our market and our companies," the source said.
Ayodhya, Aug 4: Various religious ceremonies have been conducted for the past 108 days by saints in Ayodhya and Prime Minister Narendra Modi will take part in `muhurat puja' at 12.44 pm on Wednesday as part of 'bhoomi pujan' for construction of a grand Ram temple.
PM Modi will arrive at 12:30 pm at the Ramjanmbhoomi and take part in various prayers including the main "bhoomi pujan".
Govind Giriji Maharaj, treasurer of Shri Ramjanmbhoomi Teerth Kshetra Trust, said that the religious ceremonies will begin from 8:30 am in the morning and will continue till 12:30 pm.
"The Prime Minister will arrive at 12:30 pm and he will offer `puja' for 15 minutes and take 'sankalp'. First Lord Ganesh will be worshipped then he will offer prayers of eight shilas. Some prayers at shilas we have conducted already," Giri told said.
"The muhrat of pooja is at 12: 44 pm. He will say words 'prathisthapayami' and it is crucial to be done in that muhrat," he said.
Elaborating on the rituals to be performed tomorrow by the Prime Minister, the trust member said that most important is `Kurm Shila' .
"The most important is Kurm Shila - this is right beneath the place where Ram Lalla will be seated. It is this ceremony that we are conducting tomorrow. A cone of Bakul tree wood will be kept in ceremony. This isn't an ordinary cone, it is made of various metals including gold and silver.
A lotus with nine gems too will be part of pujan which will be offered to this cone by the Prime Minister," he said.
"These are intrinsic to main bhumi pujan. The first religious ceremony was of Devi Kali. There are two devi kalis here, `choti' and `badi'. She is kuldevi, family's goddess of Sita. Today we held Ramarchan ceremony," said Giri.
The Vedic pundits who are involved in religious ceremonies have come from Delhi, Mathura and Kashi.
Asked about the absence of Nepal's religious head of Janaki Mandir, he said that there are many, including 20 religious heads, who would not able to come because they can't leave their seat in Chaturmas.
On the design of temple, Giri said, the old design will remain as it is except a rise in height.
"The structure has become popular and we will keep it. Keeping in mind the modernisation of architecture, we have raised height from 128 feet to 161 feet and instead of three peaks we will have five peaks," he said.
Kanchi Pithadhishvar Maharaj has sent silver coins as souvenirs for every sadhu participating in it, Giri said.
Invitations have been sent to 175 people, including 135 saints of 35 religious organisations to attend the foundation stone-laying ceremony of Ram temple.
The construction of Ram temple will begin in Ayodhya after the ceremony to lay the foundation stone.
New Delhi, Jul 12: With the highest single-day spike of 28,637 new cases and 551 deaths being reported in the last 24 hours, India's COVID-19 count reached 8,49,553 on Sunday.
According to the Union Health and Family Welfare Ministry, this includes 2,92,258 active cases, and 5,34,621 cured and discharged or migrated patients. The toll due to the disease has reached 22,674 in the country.
Maharashtra with 2,46,600 cases continues to be the worst affected state by COVID-19 in the country. The state has 99,499 active cases while 1,36,985 patients have been cured and discharged so far. The death toll due to the disease now stands at 10,116.
Tamil Nadu with 1,34,226 cases, including 46,413 active ones, is the next worst affected in the country. While the number of cured and discharged patients is at 85,915 in the state, the toll due to the disease is at 1,898.
The national capital has recorded 1,10,921 confirmed cases so far. However, the number of active cases in Delhi is at 19,895 and 87,692 patients have been cured and discharged so far. With 3,334 deaths being reported due to COVID-19 in the city.
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