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Economy News, Latest Economic News Today | The HinduBusinessLine

GE, HAL clinch tech deal on joint jet engine plan India rejects USTR allegations, seeks termination of Section 301 probe Indian automobile sales record highest-ever sales in FY26, first time after FY19: SIAM Madhya Pradesh CM says basmati rice from the State is exported to 47 nations 63 Moons’ cybersecurity arm pilots GPS-spoofing solution at Indian airports Highways ministry notifies amendment to streamline fee for overloaded vehicles on NHs Global aviation crisis deepens as fuel shortage, Iran conflict hit airlines TRI launches agri-voltaic project to help farmers earn double income Hotel industry to hit $31 billion in 2029; listed hotel firms set to add 70k rooms by 2030: CBRE Temperatures may trend up over North-West, Central India until weekend Reduction in airport tariff credit neutral, minimal impact on revenue: Ind-Ra Global coffee prices rise as fertiliser costs and West Asia tensions threaten supply Bluspring Enterprises to acquire LSG Sky Chefs India, enters aviation catering sector China says policy to improve relations with India remains unchanged amid Arunachal naming row Research firms divided over impact of below normal monsoon on food inflation Unnat Krishi Mahotsav concludes, farmers to emerge as energy, fuel & hydrogen providers, says Gadkari Airlines may get ₹5,000 crore credit support under proposed ECLGS variant How kashmir’s breakthrough is making Gucchi mushroom farming possible Centre not taking away State’s power on bonus for agri produces, says FM Sitharaman Carriers cut flights on cost pressures, uncertain demand GE Aerospace scales AI from pilots to production; India anchors global capability West Asia crisis may push India’s current account deficit to 2% of GDP: Crisil Tax Dept to resume Tiger Global reassessment, says GAAR relief won’t alter SC ruling Ceasefire talks fail to restore vessel movement in Strait of Hormuz, fate of 599 ships remain inconclusive DMRC launches mid-life refurbishment of Blue Line trains to enhance safety and passenger experience Retail inflation likely rose 3.5-4% in March India-UK free trade pact may come into force from second week of May: Official 'West Asia war a good opportunity for energy reforms, lower costs for industry' India’s marine exports surge to ₹62,408 crore in 2024-25, Govt sets ₹1 lakh crore target PM Modi to inaugurate Dehradun-Delhi Expressway on April 14
Modi, Trump talk trade, seafarer safety on G7 sidelines
Amiti Sen · 2026-06-18 · via Economy News, Latest Economic News Today | The HinduBusinessLine
Prime Minister Narendra Modi and US President Donald Trump hold a bilateral meeting on the sidelines of the G7 Summit 2026, in Evian on Wednesday.

Prime Minister Narendra Modi and US President Donald Trump hold a bilateral meeting on the sidelines of the G7 Summit 2026, in Evian on Wednesday. | Photo Credit: ANI

US President Donald Trump said that the India-US trade deal was “very close” to being finalised, but maintained that the talks have been at this stage for a while as Prime Minister Narendra Modi is a “very tough negotiator”.

“We’ve been there for a little while and he’s a very tough negotiator, one of the toughest, actually,” Trump said answering questions on the India-US trade deal at his bilateral meeting with Modi on the sidelines of the G7 summit in Evian, France, on Wednesday.

The bilateral meeting took place between the two leaders after 16 months amid tension over the recent killing of three Indian mariners by US forces, who attacked their ships off the coast of Oman.

Modi raised the issue of safety of seafarers in his meeting with Trump, by stressing on its importance. “We have always said that freedom of navigation should be ensured and we should also stress upon that. Lakhs of Indian seafarers are on duty in different seas of the world in the sector of maritime trade. I believe that their security is equally important...I am confident that in the deal (with Iran) security of seafarers will be ensured and prioritised...” Modi told Trump.

There was no direct confrontation between the two leaders on the killing of the three Indian mariners, but when questioned by the media, Trump said he “loved them”, and that it was a “rough profession”.

“I heard about the Indian sailors. It’s a rough profession. We love all those people,” Trump said.

Trump’s branding of Modi as a “very tough negotiator” is indicative of India taking its time to stamp an interim deal. The US Section 301 investigations against India are still on and could result in penalties.

US Trade Representative Jamieson Greer is scheduled to visit New Delhi on June 23-24 to push the interim deal towards conclusion, but India wants more clarity and certainty on the US tariff front and also an assurance that it will gain a competitive edge over rival countries such as Bangladesh and Vietnam, sources said.

On US-India defence ties, Trump said it was a “great relationship” and while there was no official contract, Washington would help India if attacked.

He joked that the US would definitely protect India under Modi, but there was no guarantee if there was another leader. “If they were attacked, we would be there to help them…If anybody attacks that man (Modi), we’re going to be there but if there’s a new leader, I’m not sure about that”, he said.

Praising Modi, Trump said: “He’s the most beautiful looking man. He looks so nice. He’s like an angel, but actually he’s a killer. I don’t want to use that word, killer. He’s as tough as they come, but he looks so good. So he gets you by surprise.”

Published on June 17, 2026