US names India, China as ‘primary sources’ of illicit fentanyl trafficking
New Delhi: The United States has reportedly identified India and China as key players in the illicit fentanyl trade, naming them as "state actors" who contribute to the direct and indirect supply of precursor chemicals and equipment used by drug traffickers.
“A diverse set of foreign actors are targeting US health and safety, critical infrastructure, industries, wealth, and government,” Washington said in its 2025 Annual Threat Assessment report released by the office of the Director of National Intelligence Tulsi Gabbard, reported Scroll on Thursday.
According to the report, fentanyl and other synthetic opioids were responsible for over 52,000 deaths in the U.S. between November 2023 and October 2024. It added that certain transnational criminal organisations were producing and trafficking large amounts of illicit drugs that were endangering the lives and livelihoods of U.S. citizens.
The report highlighted that transnational criminal organisations (TCOs), such as the Sinaloa Cartel and the New Generation Jalisco Cartel, based in Mexico, remain the primary producers and suppliers of illicit drugs like fentanyl, heroin, and methamphetamine to the U.S. market. However, non-state groups are said to be supported by "state actors like China and India as sources of precursors and equipment for drug traffickers”.
“China remains the primary source country for illicit fentanyl precursor chemicals and pill pressing equipment, followed by India,” alleged the report.
The report follows a recent federal case in Washington DC, where an India-based chemical manufacturing company and three of its employees were charged with illegally importing fentanyl precursors. Additionally, two top-ranking employees of a Hyderabad-based company were arrested in New York City last week in connection with the case.
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Rupee rises 10 paise to 92.41/USD; faces risks from rising global tensions
Mumbai (PTI): The rupee appreciated 10 paise to 92.41 against the US dollar in early trade on Friday, even as the USD/INR pair faces risks from rising global tensions, especially the US-Iran conflict.
Forex traders said the rupee is likely to see high volatility intra-day as the deadline for RBI's instructions to banks to curb their overnight positions to USD 100 million closes today.
At the interbank foreign exchange market, the rupee opened at 92.58 against the US dollar, then gained ground to touch 92.41 against the US dollar in initial trade, registering a gain of 10 paise over its previous close.
On Thursday, the rupee settled with a marginal gain of 3 paise at 92.51 against the US dollar.
"An estimated 80–85 per cent of these positions have already been unwound, which means the bulk of this supportive flow is now behind us. In simple terms, the cushion that held the rupee steady is beginning to thin, and this is where the story starts to shift," CR Forex Advisors MD Amit Pabari said.
Pabari further noted that looking ahead, the picture for the rupee appears to be changing. "With most of the NOP-related support now fading and global uncertainties still elevated, the scope for further strength seems limited. USDINR is likely to find a base in the 92.20–92.50 zone, with a gradual move higher towards 93.50–94.00 levels," he said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was higher by 0.07 per cent at 98.69 as the safe-haven demand has come down after the ceasefire, but as the ceasefire is fragile, the US dollar is getting bids at lower levels.
Brent crude, the global oil benchmark, was trading higher by 0.51 per cent at USD 96.44 per barrel in futures trade, as the ongoing uncertainty over the Strait of Hormuz opening is keeping the oil trade well bid.
Pabari further noted that just as domestic support begins to fade, the global backdrop is turning uneasy again. "The World Bank has flagged that India's growth for FY27, expected at 6.6 per cent, faces risks from rising global tensions, especially the Iran conflict," he said.
According to Pabari, India continues to have strong buffers in the form of forex reserves and a stable banking system, but pressure points are slowly beginning to build.
On the domestic equity market front, the stock markets witnessed a rebound in early trade. The 30-share Sensex jumped 630.08 points to 77,261.73, while the Nifty climbed 203.6 points to 23,978.70.
Foreign Institutional Investors offloaded equities worth Rs 1,711.19 crore on Thursday, according to exchange data.
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