India-US trade talks progressing, US team in Delhi for negotiations: Goyal
Jaipur (PTI): Commerce and Industry Minister Piyush Goyal on Wednesday said talks with the US on the proposed bilateral trade agreement are progressing.
He said that the US team is in New Delhi for the negotiations.
"Talks are continuously progressing with them. We are moving forward towards a bilateral trade agreement," Goyal told reporters here at the Pravasi Rajasthani Divas. He indicated that he may meet the visiting US official team.
A delegation led by Deputy US Trade Representative (USTR) Rick Switzer is in the national capital for two-day trade talks with his Indian counterpart Rajesh Agrawal.
The US' chief negotiator for the pact, Assistant US Trade Representative for South and Central Asia Brendan Lynch, will hold discussions with India's chief negotiator and Joint Secretary in the Department of Commerce, Darpan Jain.
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The visit is crucial as India and the US are working to finalise the first tranche of the pact. This is the US officials' second trip since the imposition of a 25 per cent tariff and an additional 25 per cent penalty on Indian goods entering the American market due to the purchase of Russian crude oil. The US officials last visited India on September 16.
On September 22, Goyal also led an official delegation to the US for trade talks. He had also visited Washington in May. The talks are also important as Commerce Secretary Rajesh Agrawal had recently stated that India is hopeful of reaching a framework trade deal this year itself, which should address the tariff issue to the benefit of Indian exporters.
While noting that the Bilateral Trade Agreement (BTA) will take time, Agrawal said that India is engaged in protracted negotiations with the US on a framework trade deal that will address the reciprocal tariff challenge faced by Indian exporters.
India and the US are having two parallel negotiations -- one on a framework trade deal to address tariffs and another on a comprehensive trade deal.
In February, leaders of the two countries directed officials to negotiate an agreement. It was planned to conclude the first tranche of the pact by the fall of 2025. So far, six rounds of negotiations have been held. The agreement aims to more than double bilateral trade to USD 500 billion by 2030, from the current USD 191 billion.
The US remained India's largest trading partner for the fourth consecutive year in 2024-25, with bilateral trade valued at USD 131.84 billion (USD 86.5 billion exports).
The US accounts for about 18 per cent of India's total goods exports, 6.22 per cent of its imports, and 10.73 per cent of its total merchandise trade. According to exporters, the agreement is important as India's merchandise exports to the US declined for the second consecutive month in October, falling by 8.58 per cent to USD 6.3 billion due to the hefty tariffs imposed by Washington.
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Real Madrid fines Valverde and Tchouaméni half a million euros each for altercation
Barcelona (AP): Real Madrid slapped players Federico Valverde and Aurélien Tchouaméni with half-a-million-euro ($588,000) fines on Friday for their altercation during practice.
The massive fines came a day after the midfielders tussled when the team trained. Valverde said in a post on social media on Thursday that no punches were thrown. But Valverde knocked his head on a table and he suffered a small cut that required a brief hospital visit.
On social media, Valverde initially called it a “meaningless fight” with a teammate and said “everything has been blown out of proportion."
His employers, however, considered it a significant enough breach of team discipline to nail both Valverde and Tchouaméni with fines that bite even the bank account of a top soccer player. The half-a-million euro penalties reflect the reputational damage the club was enduring in a chaotic end to a disappointing season.
In a statement, the 15-time European champion said its disciplinary action was concluded after both players expressed to the club “their complete remorse for what happened and apologized to one another.”
Madrid added they also apologized to their teammates, the coaching staff and club supporters, as well as showing their willingness to accept whatever disciplinary action the club deemed “opportune.”
Tchouaméni was back training with Madrid on Friday, two days before they play at Barcelona in a clasico. Madrid has to win otherwise Barcelona will be crowned La Liga champion.
After being notified of the fine, he posted a public apology to the club and its fans on social media.
“What happened this week in training is unacceptable,” Tchouaméni wrote. "I say this while thinking about the example we are expected to set for young people, whether in football or at school.
“Above all, I am sorry for the image we projected of the club.”
Valverde was not at practice due to the head knock.
Both players are set to play in the World Cup next month, with Tchouaméni playing for France and Valverde for Uruguay.
Chaotic end to a poor season
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The run-in between the players, who for seasons have played side by side in Madrid's midfield, came after they argued this week in previous training sessions. But tempers boiled over on Thursday. Spanish media was rife with reports that the players previously disagreed over the club's decision to let coach Xabi Alonso go after just months on the job.
It was not the only altercation involving Madrid players during training this week. Álvaro Carreras confirmed he was in a “minor” incident with a teammate. Spanish media said he and fellow defender Antonio Rüdiger got into a scuffle.
Álvaro Arbeloa, the coach who was promoted from Madrid's reserve team when Alonso was fired in January, will face tough questions on what went wrong inside the changing room when he gives a press conference on Saturday ahead of the clasico at Camp Nou.
Madrid is facing a second consecutive campaign without a major trophy amid rumors in the Spanish media that club president Florentino Pérez is considering bringing back Jose Mourinho to straighten out his underperforming team.
