THURSDAY 10 APRIL 2025 www.thestatesman.com Pages 12 |` 5.00 | LC X.com/thestatesmanltd. Fb/thestatesman1875 SINCE 1818 KOLKATA | NEW DELHI | SILIGURI | BHUBANESWAR REVANTH REDDY VOWS TO STOP BJP IN TELANGANA KHARGE CALLS MAHA POLLS OUTCOME A 'FRAUD' P5 SENSEX 73,847.15 q379.93 WEATHER THUNDERSTORM/ LIGHTNING ACCOMPANIED WITH STRONG SURFACE WINDS SPEED REACHING 30-40 KMPH GUSTING TO 50 KMPH. THE MAXIMUM AND MINIMUM TEMPERATURES WOULD BE AROUND 39 AND 25 DEGREES CELSIUS RESPECTIVELY RAINFALL: Nil RELATIVE HUMIDITY Max. 73 % TEMPERATURE P8 NIFTY 22,399.15 q136.70 P9 ` vs $ 86.72 GOLD `92,410 THUMBNAILS A staff gives bath to an elephant in its enclosure during a hot summer afternoon at the National Zoological Park in New Delhi on Wednesday. nANI STATESMAN NEWS SERVICE NEW DELHI, 9 APRIL A mid the heated nationwide debate on the reciprocal tariffs imposed by US President Donald Trump on India and other nations, External Affairs Minister (EAM) S Jaishankar said on Wednesday that India is currently negotiating a Bilateral Trade Agreement (BTA) with America, which could be concluded by the fall of this year. Asked how India is going to deal with the reciprocal tariffs at a media summit here, he said, "I don't think it is possible to speak about the impact because we don't know." He said India's strategy has been to engage with the US in concluding the BTA. "Our strategy is pretty clear; we decided that we will engage the Trump administration earlier on this set of issues, and we were very open with them, constructive with them as they were with us. What we agreed to do was try to negotiate a bilateral trade agreement by the fall of this year," the minister added. "To the best of my knowledge, and I could be corrected here, I think we are the only country after President Trump has resumed the presidency the second time, which has reached such an understanding (for a BTA) in principle," Mr Jaishankar said. Since tariffs have been imposed on almost every country, each is drawing up its own strategy to deal with the US, he said, adding, "In our case, our strategy has a goal, which is to see whether it is possible to actually deal with this situation by concluding a bilateral trade agreement, and I should add that in an interesting way, this has long been our objective." With the tariffs in place, he underscored that the present situation may have created the circumstances for such a serious conversation, but India had been pursuing a trade deal even during President Trump's first term. "So, RBI MPC announces rate cut by 25 bps to 6 pc; Governor flags US tariff concerns STATESMAN NEWS SERVICE NEW DELHI, 9 APRIL The Reserve Bank of India (RBI), Monetary Policy Committee (MPC) has unanimously decided to reduce the repo rate by 25 bps to 6 per cent, said Governor Sanjay Malhotra on Wednesday. Presenting the first monetary policy for the financial year 2025-26, he announced that the MPC has decided to change the stance to 'accommodative' from 'neutral'. The Governor also announced that the Standing Deposit Facility (SDF) rate now stands at 5.75 per cent, while the Marginal Standing Facility (MSF) rate and the Bank Rate have been revised to 6.25 per cent. The RBI Governor also discussed the US tariff, saying it has posed 'new headwinds' for global growth and inflation. "Overall, the year has begun on an anxious note for the global economy. Slow down in global growth could entail further softening in commodity and crude oil prices," he said. “The recent trade tariffrelated measures have exacerbated uncertainties clouding the economic outlook across regions, posing new headwinds for global growth and inflation. Financial markets have responded through a sharp fall in the dollar index and equity sell-offs with significant softening in bond yields and crude oil prices,” the Governor said. On the GDP, Governor Malhotra projected the growth at 6.5 per cent and on a quarterly basis, he said the GDP for Q1 is projected at 6.5 per cent; Q2 at 6.7 per cent; Q3 at 6.6 per cent; and Q4 is 6.3 per cent. Further, on the inflation, he said for FY26, the inflation is projected at 4 per cent. For Q1, it is projected at 3.6 per cent; Q2 at 3.9 per cent; Q3 at 3.8 per cent; and Q4 at 4.4 per cent . The outlook for food inflation has turned decisively positive. There has been a substantial and broad-based seasonal correction in vegetable prices. In such challenging global economic conditions, the benign inflation and moderate growth outlook demand that the MPC continues to support growth, he said. India clears biggest-ever fighter jet deal: 26 Rafale Marine jets for Navy approved PARWINDER SANDHU NEW DELHI, 9 APRIL In a major move aimed to boost Indian Navy’s air might, the Central government has given a nod to purchase 26 Rafale Marine fighter aircraft worth Rs 63,000 crore from France. The clearance was given by the Cabinet Committee on Security, headed by Prime Minister Narendra Modi. As part of the inter-governmental deal between India and France, the country would receive 22 single-seater variants and four twin-seater variants of the jet, designed in accordance with its Naval fleet’s requirements. Official sources stated BRENT CRUDE (IN $) 60.39 26/11 attack accused Tahawwur Rana will be in India soon: Sources On Sino-Indian relations, the EAM said the relationship was now much better than before Min: 25.6 °C (+5.6) SUN SETS 18:44 hrs MOON SETS 05:00 hrs Russia invites PM Modi for Victory Day parade: Prime Minister Narendra Modi has been invited by Russia for its May 9 Victory Day parade, Ministry of External Affairs spokesperson Randhir Jaiswal confirmed on Wednesday. ''Our Prime Minister has received an invitation for participation in the Victory Day celebrations. We will be announcing our participation in the Victory Day celebrations at the appropriate time," he said at a media briefing. The Victory Day celebrations will mark the 80th anniversary of Russia’s victory over Germany in World War II. Russia's Deputy Foreign Minister Andrey Rudenko was quoted by Russian news agency Tass as saying that an invitation has already been sent to Mr Modi and the visit is being worked out. “It’s being worked out, it should be this year. He (Mr Modi) has an invitation,” he said. P12 SILVER `93,000 ‘India hopes to conclude trade deal with US soon’ Min. 31 % Max: 40.5 °C (+5.4) SUN RISES 06:00 hrs MOON RISES 16:34 hrs RCB TO FACE IN-FORM CAPITALS NETANYAHU-TRUMP MEETING REVEALS GAPS ON KEY ISSUES that apart from the fighter jets, the deal would also include weapons, a simulator, spares, associated ancillary equipment, personnel training and logistical support from the French. It may be noted that cur- rently Indian Air Force holds 36 Rafale fighter jets, first inducted in 2016, stationed at two air bases at Ambala, in Haryana and Hasimara in West Bengal. Under the new deal, spares and logistical support would also be extended to the existing Rafales in the country’s defence fleet. A carrier-based version of the Rafale fighter, the Marine edition of the fighter jet comes loaded with advanced avionics, weapons systems, and operational adaptability. It also features a robust landing gear, arrestor hooks, and a reinforced airframe, allowing it to carry out Short Take-Off But Arrested Recovery (STOBAR) operations, a method engaged for launch and retrieval of aircrafts on aircraft carriers. Manufactured by Dassault Aviation, the Rafale made its debut in the French Navy in 2004 and with the French Air Force in 2006. Considered to be the most seasoned fighter in the world, the delivery of Rafale M jets is scheduled to be completed by 2030-31, with the delivery of the first batch anticipated within 37 to 65 months following the signing of the final contract. In July 2023 the Ministry of Defence had approved the purchase of the jets in July 2023, specifically for their deployment on its first indigenously built aircraft carrier - INS Vikrant. from the Indian perspective, working out a bilateral deal with the United States is not a negative or unwanted situation. On the contrary, it is something which has long been our objective," he added. Talking about Sino-Indian relations, the minister said the relationship was now much better than before. "The relationship is much better than before. I think the disengagement, particularly the Depsang Demchok, was important," he said. "We are now addressing, to some extent, the issues on the border because there has been a force build-up over a period of years. There were many other things that also happened during this period. Some of it was collateral for the situation. Some of it was a carryover from the Covid era," Mr Jaishankar said. The relations between the two countries during 2020-2024 in the wake of the military standoff at eastern Ladakh were not in anyone's interest. "For example, our direct flights stopped during Covid. They were not resumed. The Kailash Mansarovar Yatra stopped during Covid, it did not resume. So, I think there is work to be done. We are at it. We are trying to see whether a lot of this post-COVID and parallel to the border tension, the combination of these issues, how much we can progress on this. We are looking at it because, at the end of the day, we've always maintained that the situation that we saw between 2020-2024 was not in the interest of either country,'' he said. STATESMAN NEWS SERVICE NEW DELHI, 9 APRIL In what is seen as a major diplomatic win for India, Tahawwur Rana, an accused in the 26/11 Mumbai terror attacks, is expected to be extradited to India from the United States in the next 48 hours. Sources on Wednesday said his extradition process is being coordinated by a multi-agency team with the authorities concerned in the US. The development comes after the US Supreme Court on Monday rejected Rana's plea, paving the way for his extradition to India to face Indian law. He has exhausted all legal remedies that were available to him in the US. Speaking at a press conference, Ministry of External Affairs spokesperson Randhir Jaiswal said, "As far as the extradition of Mr Rana is concerned at this point, I do not have an update...but we will provide you an update at the appropriate time." Meanwhile, Rana's extradition is said to be based on the provisions of the India-US Extradition Treaty. Once he is brought back to the country, his custody will depend on certain grounds which will be set out in the extradition order. Most likely, the NIA will take his custody when he lands here. He is being brought to the country in connection with the conspiracy case filed by the National Investigation Agency (NIA), back in the year 2009, which was also related to the Mumbai terror attacks. Rana, who is a PakistaniCanadian national, was also linked to the banned terror outfit Lashkar-e-Taiba (LeT), and allegedly provided support to those behind the Mumbai 26/11 terror attacks that claimed over 160 lives. The Government of India has been relentlessly seeking Rana's extradition for years and pursued the matter with successive governments in Washington. During Prime Minister Narendra Modi's trip to Washington in February, US President Donald Trump announced that his administration had approved the extradition of “very evil” Rana, wanted by Indian probe agencies. Rana and David Headley were detained by the FBI at the Chicago airport in October 2009 when they were allegedly flying out to execute an alleged mission to attack a Danish newspaper that had published controversial cartoons of the Prophet Muhammad. Their arrests also revealed their alleged role in the Mumbai attacks. India rescinds transshipment facility for Bangladesh exports STATESMAN NEWS SERVICE NEW DELHI, 9 APRIL Amid strain in ties with Bangladesh, India has terminated the transshipment facility for Bangladesh's export cargo, which could impact the neighbouring country's exports to other nations in the region like Nepal, Bhutan and Myanmar. This was confirmed here on Wednesday by Ministry of External Affairs spokesperson Randhir Jaiswal at a media briefing here. "The transshipment facility extended to Bangladesh in 2020 had over a period of time resulted in significant congestion at our airports and ports. Logistical delays and higher costs were hindering our own exports and creating backlogs. The facility, therefore, has been withdrawn w.e.f. April 8, 2025. To clarify, these measures do not impact Bangladesh exports to Nepal or Bhutan transiting through Indian territory," the spokesperson said.