Trump slams BRICS, warns of 100% tariffs if group launches rival currency

U.S. President Donald Trump has launched a harsh critique of BRICS, claiming it would be “dead” if the group ever launched a rival currency, despite the fact that India has already dismissed such a proposal.

If BRICS wants “to play games with the dollar, then they’re going to be hit with a 100 percent tariff the day they mention that they want to do it,” Trump said on Thursday, February 13, before his meeting with Indian Prime Minister Narendra Modi.

Indian stock markets open flat amid wait-and-watch mode on PM Modi’s U.S. visit

The Indian stock markets opened on a flat note on Thursday, reversing the selling trend seen earlier in the week, as investors remain in a wait-and-watch mode ahead of Prime Minister Narendra Modi’s visit to the United States.

The markets are closely watching the potential trade outcomes from the visit, as well as the geopolitical developments surrounding the Russia-Ukraine conflict.

India developing indigenous AI models, ready to share expertise, says PM Modi

India is advancing AI applications for the public good and is home to one of the largest AI talent pools in the world, Prime Minister Narendra Modi announced on Tuesday, February 11, highlighting the country’s commitment to ensuring that the “AI future is for Good, and for All”.

Speaking at the ‘AI Action Summit,’ PM Modi revealed that India is working on its own large language model (LLM), developed with its diverse population in mind. He also pointed out India’s unique public-private partnership model, which allows resources such as computing power to be made available to startups and researchers at an affordable cost.

RBI likely to implement additional rate cuts in 2025

As the Reserve Bank of India (RBI) enters its rate-cutting cycle, further reductions are likely, though the timing remains a subject of debate, according to a note from Bank of Baroda.

The RBI’s Monetary Policy Committee (MPC) unanimously decided to lower the repo rate by 25 basis points, bringing it down from 6.5% to 6.25%. The stance was kept at “neutral,” allowing the MPC flexibility in determining future policy actions.

RBI projects 6.4% GDP growth for FY25, anticipates economic pickup in H2

On Friday, February 7, the Reserve Bank of India (RBI) projected real GDP growth of 6.4% for FY25, anticipating that economic activity will pick up in the second half of the year, driven by improvements in agriculture and manufacturing.

RBI Governor Sanjay Malhotra, announcing the results of the Monetary Policy Committee (MPC) meeting, also forecasted GDP growth for FY26 at 6.7%. The quarterly breakdown for FY26 is as follows: Q1 at 6.7%, Q2 at 7.0%, Q3 at 6.5%, and Q4 at 6.5%.

Inflation eases, paving way for RBI rate cut in upcoming policy

The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) is set to announce its first monetary policy under new Governor Sanjay Malhotra this Friday. Experts anticipate a 25 basis points (bps) cut in the repo rate, aiming to support economic growth while keeping inflation in check.

A report from Bank of Baroda highlights that inflationary pressures have eased, largely due to a drop in the prices of essential vegetables like tomatoes, onions, and potatoes. This improvement in supply has led to reduced volatility in the Consumer Price Index (CPI), giving the RBI some flexibility for a measured rate cut.

OpenAI CEO Sam Altman lauds India’s AI vision, says willing to collaborate

As the global race for artificial intelligence (AI) intensifies, India has rolled out an ambitious strategy to develop a comprehensive AI ecosystem, with OpenAI expressing willingness to collaborate on this mission.

Ashwini Vaishnaw, India’s Electronics and IT Minister, shared this development on Wednesday after meeting OpenAI Co-founder and CEO Sam Altman in the national capital.

India budget: USIBC recommends deeper reforms for growth, stronger bilateral economic ties

While India’s Union Budget 2025-26 found favor with the U.S.-India Business Council (USIBC), there were certain areas of concern raised by the business council that connect the two largest democracies in the world and inspire sustainable solutions to business challenges.

“While the budget outlines a vision for economic resilience, technological advancement, and global competitiveness, India’s growth trajectory requires sustained and deeper reforms. Foreign direct investment remains steady but has not seen significant acceleration, and businesses continue to navigate complex regulatory landscapes. USIBC urges a more ambitious push for systemic reforms in taxation, regulatory frameworks, and business procedures to further enhance India’s global competitiveness and attract greater investment,” President of the USIBC, Ambassador Atul Keshap, said. The USIBC represents hundreds of top global companies operating across the United States, India, and the Indo-Pacific.

Budget: India takes bold leap towards clean energy, nuclear energy mission launched

In a landmark move towards advancing clean energy and supporting India’s energy transition, Finance Minister Nirmala Sitharaman introduced the Nuclear Energy Mission during her Union Budget 2025 presentation. This ambitious initiative aligns with India’s broader vision of achieving developed nation status under the “Viksit Bharat” program.

Sitharaman outlined the mission’s primary goal of generating 100 gigawatts (GW) of nuclear energy by 2047. She emphasized the critical role that nuclear energy will play in India’s sustainable energy future, stating, “Nuclear Energy Mission for Viksit Bharat Development of at least 100 gigawatt of nuclear energy by 2047 is essential for our energy transition efforts.”

Gunjan Kedia to Become CEO of U.S. Bancorp in Mid-April

U.S. Bancorp has announced that its Indian-origin President will become the company’s chief executive officer (CEO) at the conclusion of the organization’s annual meeting of shareholders on April 15.

The newly appointed CEO Gunjan Kedia was also elected to the company’s Board of Directors. Current Chairman and CEO Andy Cecere will serve as executive chairman, continuing to lead the Board of Directors and supporting Kedia as she assumes her new role. The leadership transition is expected to go into effect April 15, with Kedia and Cecere working together closely on that plan during the next three months.

OpenAI investigates DeepSeek over potential use of ChatGPT data in AI training

As Chinese artificial intelligence (AI) company DeepSeek continues to make waves in the technology industry amidst the U.S.-China trade tensions, OpenAI has raised concerns that its ChatGPT data may have been used to train DeepSeek’s cost-effective AI models.

OpenAI, led by Sam Altman, has discovered indications that DeepSeek employed a technique known as “distillation,” which is commonly used to train AI models by extracting data from large language models (LLMs). Both OpenAI and Microsoft are now investigating whether DeepSeek utilized their APIs to train its own models.

Invest India Business Forum in Seattle showcases sectors for investment

In partnership with Greater Seattle Partners and The Northwest Seaport Alliance, Consulate General of India in Seattle organized the First Invest India Business Forum at the Bell Harbor International Conference Center on 27th January 2025.

Several dignitaries and leading CEOs from companies of the Puget Sound region joined the event. These included Seattle City
Council President Sara Nelson, Mayor of the city of Bellevue Lynne Robinson, Commissioner of the Port of Seattle Sam Cho, and President of Greater Seattle Partners Brian Surratt.