Is Trump Destroying the Western Alliance? Will Europe Ally with China?

Feb 1, 2026 | As Donald Trump hits the EU with tariffs and threatens to colonize Greenland (an autonomous territory of NATO member Denmark), European leaders are improving relations with China and seeking new trade partners. Is this the end of the political West and the transatlantic alliance? Ben Norton explains.

‘Mother of All Deals’: EU and India Sign Free Trade Agreement

THE GUARDIAN: Deal expected to ease access for European cars and wine, in return for Indian exports of textiles, gems and pharmaceuticals

India and the EU have finalised a landmark free trade agreement, which the European Commission president, Ursula von der Leyen, hailed as the “mother of all deals”.

The agreement comes after almost two decades of on-off negotiations between India and the EU, which vastly accelerated in the past six months and were finally concluded late on Monday night.

The deal is expected to open up India’s vast and traditionally tightly guarded market to the 27 nations in the bloc, with a focus on manufacturing and the services sector. It is expected to ease market access for key European products, including cars and wine, in return for easier exports of textiles, gems and pharmaceuticals.

The agreement is expected to double EU exports to India by 2032 by eliminating or cutting tariffs in 96.6% of traded goods by value, and will lead to savings of €4bn (£3.5bn) in duties for European companies, the EU said.

“Europe and India are making history today,” von der Leyen said in a statement after landing in Delhi, where she met with the Indian prime minister, Narendra Modi, on Tuesday. “We have concluded the mother of all deals. We have created a free trade zone of two billion people, with both sides set to benefit.” » | Hannah Ellis-Petersen in Delhi | Tuesday, January 27, 2026

This news should help sober up the backward-thinking Brexiteers! Prepare the stocks for Farage! — © Mark Alexander

What's behind Germany's Strategic Pivot toward the Global South? | DW News

12 Jan 2026 | India's Prime Minister Narendra Modi has welcomed German Chancellor Friedrich Merz, who is on a two-day visit. Merz is traveling with a large business delegation as Germany seeks to deepen economic and security ties. Key talks include a potential submarine deal and recruiting skilled Indian workers to help solve Germany’s chronic labor shortage.

US President Trump's 50% Tariff on India Kicks In | BBC News

Aug 27, 2025 | Donald Trump's steep 50% tariffs on India have kicked in, weeks after the US president issued an executive order imposing an additional 25% penalty on India over its purchases of Russian oil and weapons.

This makes India - one of the US's strongest partners in the Indo-Pacific - among the countries hit with the highest tariffs in the world. This could deal a blow to exports and growth in the world's fifth largest economy, given that the US was, until recently, India's largest trading partner.

Earlier this month, Indian Prime Minister Narendra Modi made a promise to cut taxes to mitigate the economic impact of Trump's tariffs. He has also urged domestic self-reliance.

He said that a Diwali gift in the form of a "massive tax bonanza" was on its way for the common man and the millions of small businesses that power Asia's third largest economy.

Trump Said He Would Double Tariffs on India as Punishment for Buying Russian Oil.

THE NEW YORK TIMES: President Trump announced on Wednesday that he would double tariffs on India, to 50 percent, beginning this month as punishment for the country’s continued purchase of Russian oil.

Mr. Trump coupled the new, punishing tariff level with a threat to impose similar penalties on other countries that buy Russian energy as he sought to use trade policies to pressure the Kremlin into resolving the war in Ukraine.

Under a new executive order, India would face a 25 percent tariff starting on Aug. 27 if it continues to buy oil from Russia. That would be in addition to a 25 percent duty that Mr. Trump announced last week, citing unfair trade barriers, which he plans to implement beginning Thursday. » | Tony Romm | Reporting from Washington | Wednesday, August 6, 2025

Trump Imposes 25% Tariff on India Plus ‘Penalty’ over Ties to Russia

THE GUARDIAN: US president calls Delhi a friend but criticises policies such as buying arms and energy from Russia amid Ukraine war

Donald Trump has announced the US will impose a 25% tariff on goods from India plus an extra “penalty” for the country buying arms and energy from Russia amid the war in Ukraine.

Washington has set a 1 August deadline for countries around the world to reach agreements on trade, including India, amid the US president’s sweeping global tariff war.
While saying that Delhi was a “friend,” Trump used his Truth Social platform to criticise India’s trade policies and said the White House would impose a 25% tariff “plus a penalty” of an unspecified amount.

He said the US had a “massive” trade deficit with India – when imported goods outstrip exports – and linked its “vast” purchases of military equipment and energy from Russia to Vladimir Putin’s war in Ukraine. » | Richard Partington | Senior economics correspondent | Wednesday, July 30, 2025

What's behind the US Indictment of Indian Billionaire Gautam Adani? | DW News

Nov 21, 2024 | Indian billionaire Gautam Adani, one of the world's richest people, has been indicted on multiple counts of fraud in the US. The criminal charges are related to his alleged role in a scheme to bribe officials in India. Prosecutors say he and other senior executives paid more than 250 million dollars to win contracts for his renewable energy company. His Adani Group has issued a statement describing the allegations as baseless.

Tech Layoffs Crash Hard into Indian Workers I DW News

Nov 17, 2022 | Online-retailer Amazon has confirmed a coming round of mass layoffs, making it the latest tech-giant to slash jobs amid slowing global-growth. On Tuesday the company filed notice to California regulators that it would scrap jobs in that state. It is expected to shed as many as 10-thousand positions in the coming days, following similar measures by tech giants Meta and Twitter. Amazon employs 1.5 million workers around the world.

One country in which this wave of job cuts is particularly crashing into is India. Twitter cut off half its work force there, and education technology firms Byju and Unacademy laid off hundreds of workers. Workers in India are also among those affected by "Meta" cuts. Ironically, many of them are using those same platforms, including social media, to air their grievances and protests against the unceremonious firings.

Money, Luxury and Fame - The New Super-rich of India | DW Documentary

Only the US and China currently have more billionaires than India. Some of them are as famous as pop stars and enjoy similar adulation.

Their social media accounts have millions of followers - in a country where more than half the population lives below the poverty line and has no electricity or fresh water. India’s super-rich have been dubbed the "new maharajas." The sources of their seemingly unlimited wealth are almost as varied as their values and lifestyles. 23-old Evan Luthra uses his father's seed capital to invest in new ideas in the software industry. He loves luxury, meets the young moneyed elite in fashionable destinations around the world, and is active on all the social networks. Abhimanyu Alsisar, nephew of the Maharajah of Jaipur, runs a chain of luxury hotels in the ancient palaces of India and invests in music events. Kalpana Saroj comes from the lowest caste in India and has worked her way up from destitution to become a multimillionaire - but she never forgets her background, and helps impoverished farmers in her homeland with medical care and gifts of money. Vijay Mallya even bought his own Formula 1 racing team, but faces a long prison sentence for fraudulent bankruptcy and tax evasion should he return to India. The documentary is the result of six months of investigative research and offers a deep insight into the everyday and professional lives of India’s super-rich.

Inside Story - Will India's Crackdown on High-value Banknotes Stop Corruption?

A week after the government of India withdrew high-value banknotes from circulation, millions are struggling to get cash.

India Rupees: Chaos at Banks after Demonetisation

Millions of Indians are waiting in long queues to exchange bank notes which are being withdrawn from circulation.

Under a demonetisation plan, two commonly used notes - Rs1,000- and Rs500 - will no longer be in circulation and have to be exchanged by the end of the year.

The surprise government announcement, which came two days ago, is aimed at tackling corruption and tax evasion.

Al Jazeera's Victoria Gatenby explains.

India's Rupee Sinks to a Record Low

Rupee, one of Asia's worst-performing currencies this year, plunges 3.6 percent to 68.75 against US dollar.

Plunging Rupee Wipes $5.6bn Off Fortune of India's Richest Man

THE GUARDIAN: Reliance Industries chairman Mukesh Ambani hit by growing sense of panic in emerging markets

India's richest man is down to his last $17.5bn (£11.2bn), after the plunging value of the rupee wiped out a quarter of his fortune, in dollar terms.

Mukesh Ambani, the chairman of Reliance Industries, which operates the world's largest oil refineries, has lost $5.6bn of his personal wealth since 1 May, according to the Bloomberg Billionaires index.

His fortune took a further hit on Thursday, as India's currency hit fresh lows, adding to the sense of panic in emerging markets. Developing economies, excluding China, have seen an outflow of $81bn in emergency reserves since early May, as central banks try to prop up their currencies.

Indonesia has lost 13.6% of its reserves, Turkey 12.7%, Ukraine 10%, according to central bank data compiled by Morgan Stanley. » | Jennifer Rankin | Thursday, August 22, 2013

Thriving India Lures Its Expatriates Back
Indian professionals from IT to banking, who once saw the US and Europe as having a future to invest in, are now being lured back to India.

Job Creation, China-style
BYD Senior Vice President Stella Li explains why a strong state is good for business.

Outsourcing Goes Full Circle as Indian Firms Look to the U.S. for Cheap Labour
MAIL ONLINE: It's a frustration experienced by most people when they've made phone calls to large companies.

An unfamiliar voice answers the phone in a call centre hundreds of miles away where cheap labour is commonplace.

But in a reversal of fortunes it now appears that large Indian companies are actually now themselves outsourcing - to U.S. shores.

Large corporations that have boomed in India amid the country's nimble economy have been drawn to the U.S. where unemployment has soared.

Struggling residents desperate for work are paid between $12 and $14 a hour to be stationed in tiny cubicles for long shifts of telesales work.

Once the employees are established, many are offered the chance to be flown to India themselves - the same tactic Western countries have done in India.

Experts said that the phenomenon, which could become more widespread in the coming years, is partly due to Indian workers demanding higher wages and higher living standards. Is this a taste of the future? Outsourcing goes full circle as Indian firms look to the U.S. for cheap labour » | Daily Mail Reporter | Monday, May 23, 2011

Inside Story - Redefining Poverty
Is India's government trying to tackle poverty itself or is it just trying to fix the country's image?

Indian Billionaires to Buy 'World's Most Expensive Suit'
India's fast-growing ranks of billionaire and multi-millionaire tycoons will soon be able to wear the world's most expensive clothes after an Anglo-French clothier announced the launch of an £80,000 suit.
Dormeuil, which makes 80 per cent of its fabrics in Britain, said it will launch six suit fabrics, including the 'Vanquish II', hailed as the world's most expensive suit. It is made of Vicuna, Qiviuk and Pashmina threads and woven into a super-light wool.

The launch is another milestone in India's extraordinary economic growth and reflects the rise of a new class of super rich.

In the last year alone, India has welcomed 69 new billionaires and witnessed a steep rise in the number of millionaires with its economy growing 8.9 per cent in the quarter ending September 30 alone. The rise has seen a surge in demand for luxury goods. >>> Dean Nelson | Friday, December 10, 2010

The Rise of the Bollygarchs
THE TELEGRAPH: Indian billionaires are on the rise and an increasing number of them are making London their home.

The star exhibit in the National Portrait Gallery's current show, "The Indian Portrait", depicts the 17th-century Emperor Jahangir, resplendent in curled whiskers, golden waistcoat and three-dimensional jewels, holding a globe. The largest- known picture from the Mughal period, it could also be a symbol of the most successful Indians today: rich as kings, highly educated and urbane, they hold the world in the palm of their well-manicured hands. >>> Clive Aslet | Saturday, April 24, 2010

Indian Money Managers Warm Up to Islamic Finance
REUTERS: MUMBAI/KUALA LUMPUR - Money managers in India have begun launching sharia-compliant funds, hoping to tap the country's large Muslim population, the world's third-biggest after Indonesia and Pakistan.

The push toward the new funds comes in the wake of dwindling cash flows into more traditional investment channels, which have been hit by a stock market slump and slowing economic growth.

In January, the portfolio management services unit of HSBC's (HSBA.L) Indian fund arm started offering a sharia product, and on Wednesday Mumbai-based Benchmark Asset Management launched India's first exchange-traded sharia fund.

"There is a need gap...for investment products that are sharia-compliant," said Vikramaaditya, chief executive of HSBC Asset Management.

Zafar Sareshwala, chief executive of Mumbai-based Islamic brokerage Parsoli, said sharia-compliant funds could easily raise $1 billion from millions of potential Muslim investors. >>> By Nishant Kumar & Liau Y-Sing | Thursday, February 5, 2009

The Dawning of a New Dark Age (Paperback & Hardback) – India >>>