Bangladesh begins mango exports to China amid shifting diplomatic ties
The move comes after political upheaval earlier in 2024, which ended the rule of Sheikh Hasina, who fled to New Delhi. Since then, Bangladesh has been drawing closer to China, India's regional rival.
Bangladesh's Ministry of Commerce advisor Sheikh Bashir Uddin (3L) and China's ambassador to Bangladesh Yao Wen (2R) inspect mango caskets during a ceremony at the Hazrat Shahjalal International Airport in Dhaka on May 28, 2025.
Vivek Mishra works as an Assistant Editor with Eastern Eye and has over 13 years of experience in journalism. His areas of interest include politics, international affairs, current events, and sports. With a background in newsroom operations and editorial planning, he has reported and edited stories on major national and global developments.
BANGLADESH sent off its first shipment of mangoes to China on Wednesday, marking a symbolic export as Beijing seeks closer ties with Dhaka following strained relations between Bangladesh and India.
The move comes after political upheaval earlier in 2024, which ended the rule of Sheikh Hasina, who fled to New Delhi. Since then, Bangladesh has been drawing closer to China, India's regional rival.
“It is such a great pleasure to jointly witness this historic moment, as the first consignment of Bangladesh’s premium mangoes sets off for China,” said China’s ambassador to Bangladesh, Yao Wen, at the airport alongside Bangladeshi government officials.
Relations between Bangladesh and India have cooled, with Bangladesh geographically surrounded by India on most sides. Interim Bangladeshi leader Muhammad Yunus made his first state visit to China, and Dhaka has also strengthened ties with Pakistan.
“President Xi Jinping has emphasised on several occasions that China’s door of opening up will not close, but will only open wider,” Yao said. “I am confident that the export of Bangladeshi mangoes to China is just the beginning.”
In China, mangoes carry historical diplomatic significance. During the Cultural Revolution, Chairman Mao Zedong gifted a mango to a group of workers in 1968, and the fruit became highly revered. Those mangoes were reportedly sent by Pakistan’s foreign minister, at a time when Bangladesh was still part of Pakistan.
The initial export consists of 50 tonnes, though both sides have expressed hope for expanded volumes in the future.
Over the past year, China has organised visits for Bangladeshi political leaders and begun providing medical treatment to Bangladeshi patients in Chinese hospitals.
India, which has historically been cautious of China’s increasing influence in South Asia, continues to compete with Beijing for regional sway, despite some signs of diplomatic easing.
India's finance minister Nirmala Sitharaman said the Goods and Services Tax (GST) structure would be simplified from four slabs to two, with reductions across several sectors. (Photo: Getty Images)
INDIA announced a major cut in consumption taxes on Wednesday, days after the United States imposed steep tariffs on Indian goods.
India's finance minister Nirmala Sitharaman said the Goods and Services Tax (GST) structure would be simplified from four slabs to two, with reductions across several sectors. In some cases, levies have been reduced by more than half.
The tax changes will make a range of consumer goods, including soap bars and motorbikes, cheaper. However, the move could add pressure on government finances.
The announcement comes after US president Donald Trump imposed tariffs of up to 50 per cent on imports from India, raising concerns of a slowdown.
Sitharaman said the GST cuts were not linked to the tariff issue. "These reforms have been planned for a long time," she said.
India's prime minister Narendra Modi welcomed the measures. "The wide ranging reforms will improve lives of our citizens and ensure ease of doing business for all, especially small traders and businesses," his office said in a social media statement.
The revised system removes tax on insurance premiums, including life and health coverage. Levies on motorbikes and small cars have been reduced from 28 per cent to 18 per cent.
A finance ministry note also said dozens of life-saving drugs will now be tax exempt.
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Jio Platforms includes India’s largest telecom operator, Reliance Jio Infocomm, with more than 500 million users. (Photo: Reuters)
RELIANCE Industries plans to take its telecom and digital arm, Jio Platforms, public by mid-2026, chairman Mukesh Ambani said on Friday. The announcement sets a new timeline for the long-awaited IPO of a business analysts value at over $100 billion.
At its annual general meeting (AGM), Reliance also announced the launch of an artificial intelligence unit in partnership with Google and Meta.
Ambani had first indicated plans in 2019 to list Jio within five years. On Friday, he told shareholders the company is preparing to file for an IPO next year.
Reuters reported in July that Jio decided against launching an IPO in 2025. Analysts at the time valued the company at over $100 billion.
Jio Platforms includes India’s largest telecom operator, Reliance Jio Infocomm, with more than 500 million users. Backed by investors such as Meta, Google and KKR, the business is central to Ambani’s move to diversify Reliance beyond oil and chemicals into retail, consumer and technology. AI and international expansion are now key areas of growth.
Reliance is also investing $8.8 billion in its chemicals business. It expects retail to grow sales by nearly 10 per cent a year on a like-for-like basis and plans to add 2,000–3,000 new stores annually.
“Jio is not being fully valued within Reliance's broader petrochemicals and retail portfolio, and a separate listing would help unlock higher value for the telecom and digital unit,” said Saurabh Parikh, senior analyst at ICRA Ltd.
AI Unit with Meta and Google
Reliance and Meta announced a new AI joint venture with an initial investment of around $100 million. Meta CEO Mark Zuckerberg told the AGM the venture will provide Meta’s open-source AI models to Indian businesses.
Google will partner with Reliance to deploy AI across energy, retail, telecom and financial services. It will also set up a Jamnagar Cloud region dedicated to Reliance, Google CEO Sundar Pichai said at the meeting.
The partnerships come as India-US relations face tensions following US President Donald Trump’s decision to impose 50 per cent tariffs on Indian exports in response to India’s purchase of Russian oil.
Reliance runs the world’s largest refining complex in Gujarat and is India’s biggest buyer of Russian oil.
(With inputs from agencies)
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A logo is pictured outside a Jaguar Land Rover new car show room in Tonbridge, south east England. (Photo: Getty Images)
UK VEHICLE exports to the United States rose in July after a new trade deal between London and Washington reduced tariffs, industry data showed on Thursday.
According to the Society of Motor Manufacturers and Traders (SMMT), exports increased 6.8 per cent in July to nearly 10,000 units, following three consecutive months of decline.
The SMMT had earlier reported that exports to the US dropped 55.4 per cent in May compared with the same month last year, with smaller falls recorded in April and June.
"The US remains the largest single national market for British built cars, underscoring the importance of the UK-US trade deal, and July's performance illustrates the impact of this deal," the SMMT said.
The agreement, finalised in May and effective from June 30, cut tariffs on UK car exports to 10 per cent on up to 100,000 vehicles a year.
In April, US President Donald Trump had imposed a 27.5 per cent tariff, reducing demand and forcing manufacturers, including Jaguar Land Rover (JLR) and Aston Martin, to scale back or suspend shipments.
Almost 80 per cent of cars made in the UK last year were exported, mainly to the European Union.
The UK auto industry is largely made up of foreign-owned brands such as Japan’s Nissan and India-owned JLR.
The US is also a major market for UK-produced luxury models from Bentley and Rolls-Royce, both owned by German groups.
(With inputs from agencies)
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The Enforcement Directorate searches were conducted at locations linked to the Gupta brothers, Piyoosh Goyal of World Window Group, and entities such as Sahara Computers and ITJ Retails Pvt Ltd.
INDIA's financial crime fighting agency, the Enforcement Directorate (ED) on Tuesday carried out searches at locations connected to the Gupta brothers of South Africa and their associates in a money laundering case.
The action followed a Mutual Legal Assistance Request (MLAR) received by India from South Africa in connection with the "state capture scam," reported PTI quoting sources.
The three brothers of Indian origin—Atul, Ajay, and Rajesh Gupta—are accused of siphoning off billions of rands in South Africa through their ties with former president Jacob Zuma. The brothers and Zuma have denied any wrongdoing.
The Guptas and their families moved to Dubai after Zuma was removed from office in 2018.
Searches were conducted at locations linked to the Gupta brothers, Piyoosh Goyal of World Window Group, and entities such as Sahara Computers and ITJ Retails Pvt Ltd.
ED sources told PTI they also searched premises of Ram Ratan Jagati in Ahmedabad, who was described as a "key person" in the money laundering network.
Jagati allegedly set up a shell company named JJ Trading FZE in Dubai, which was used by Piyoosh Goyal and the Gupta brothers for money laundering, according to the sources.
The Gupta brothers had shifted to South Africa after the fall of apartheid, building their business empire through Sahara Computers and later expanding into IT, media, and mining. Some of their assets in South Africa were recently auctioned by the government there.
(With inputs from agencies)
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Donald Trump speaks with the press as he meets with Narendra Modi in the Oval Office of the White House on February 13, 2025. (Photo: Getty Images)
US tariffs on Indian imports rise to as much as 50 per cent
Nearly 55 per cent of India’s $87bn exports to US could be affected
Exporters warn of job losses and call for loan moratoriums
India says support measures will be offered to affected exporters
US PRESIDENT Donald Trump’s doubling of tariffs on Indian imports took effect on Wednesday, raising duties on some shipments to as much as 50 per cent. The move escalates trade tensions between India and the United States.
A 25 per cent tariff announced earlier in July was followed by another 25 per cent duty linked to India’s purchases of Russian oil, taking total tariffs to as high as 50 per cent on items such as garments, gems and jewellery, footwear, sporting goods, furniture and chemicals. These rates are on par with those imposed by the US on Brazil and China.
The new tariffs are expected to affect thousands of small exporters and jobs, including in prime minister Narendra Modi’s home state of Gujarat. Exporter groups estimate nearly 55 per cent of India’s 87 billion dollars in merchandise exports to the US could be impacted, benefiting competitors such as Vietnam, Bangladesh and China.
India and the US have held five rounds of talks since April to try to reach a trade agreement, but differences over access to India’s farm and dairy sectors, as well as India’s rising imports of Russian oil, led to a breakdown.
Officials on both sides blamed political misjudgment and missed signals for the collapse. US Census Bureau data shows their two-way goods trade totalled 129 billion dollars in 2024, with a US trade deficit of 45.8 billion dollars.
White House trade adviser Peter Navarro confirmed the new tariffs would take effect as announced. “Yeah,” he said when asked if the increased tariffs on India’s exports would be implemented on Wednesday.
Indian officials had earlier indicated hope that US tariffs could be capped at 15 per cent, the rate applied to some other US trade partners including Japan, South Korea and the European Union.
The additional tariffs will affect goods such as textiles, chemicals and leather. Exporters say this could create a price disadvantage of 30–35 per cent compared to competitors.
“The move will disrupt Indian exports to the largest export market,” said SC Ralhan, president of Federation of Indian Export Organisations. He suggested the government provide a one-year moratorium on bank loans for affected exporters, besides extending low-cost credit and easier loan access.
A US Customs and Border Protection notice allows a three-week exemption for Indian goods shipped before the deadline. These shipments can enter the US under the earlier lower tariffs until September 17.
Steel, aluminium and derivative products, passenger vehicles, copper and other goods subject to separate tariffs of up to 50 per cent under the Section 232 national security trade law remain exempt.
India’s response
India’s Commerce Ministry did not immediately respond to requests for comment. However, an official said on condition of anonymity that exporters hit by the tariffs would be given financial assistance and encouraged to diversify to markets such as China, Latin America and the Middle East.
Rajeswari Sengupta, an economics professor at Mumbai’s Indira Gandhi Institute of Development Research, said a weaker rupee could provide indirect support to exporters by helping them regain competitiveness.
Officials say trade talks with the US are continuing. India has not announced any change in its stance on Russian oil purchases. Russian officials in New Delhi have said Moscow expects to continue supplying oil to India.
Broader ties
Despite the tariff dispute, both countries have stressed their broader strategic partnership. On Tuesday, the US State Department and India’s Ministry of External Affairs issued identical statements saying senior officials met virtually and expressed “eagerness to continue enhancing the breadth and depth of the bilateral relationship.”
Both sides also reaffirmed their commitment to the Quad grouping, which includes the US, India, Australia and Japan.