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Thursday, September 4, 2025

Disagreements largely resolved with China, natural to take ties to pre-Galwan level: Piyush Goyal

Union Commerce Minister Piyush Goyal on Thursday said that the disagreements have been largely resolved with China and it is natural to take ties to pre-Galwan level.

"I think we always had good relations with China for many years. The incident post Galwan led to a hiatus in the relations, now that we have largely been able to resolve issues over disagreements with China, it was natural to take our ties to the pre-Galwan level," Goyal said in an interview with Network 18.

Additionally, when asked about the Press Note 3 changes, Goyal said that he won't preempt that decision.

"I would let time to take that decision, I wont preempt it. I can assure you PM will do anything to further ease of doing business and ease of living," he said.

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Waseem leads UAE's charge in Asia Cup 2025 squad

Led by their star batter Muhammad Waseem, UAE are placed in Group A along with India, Pakistan, and Oman. They will take on India in their opening game of the Asia Cup in Dubai on September 10.

The Emirati squad for the continental event is the same as the one featuring in the ongoing tri-series against Afghanistan and Pakistan, with the addition of pacer Matiullah Khan and left-arm tweaker Simranjeet Singh.

Muhammad Waseem sets up UAE for historic feat | Namibia v UAE | T20WC 2022

Waseem in fine form against Namibia at the T20 World Cup in 2022

Muhammad Waseem (c), Alishan Sharafu, Aryansh Sharma, Asif Khan, Dhruv Parashar, Ethan D'Souza, Haider Ali, Harshit Kaushik, Junaid Siddique, Matiullah Khan, Muhammad Farooq, Muhammad Jawadullah, Muhammad Zohaib, Rahul Chopra, Rohid Khan, Simranjeet Singh, Saghir Khan.

UAE previously participated in the Asia Cup in 2016, when the tournament was hosted in Bangladesh.

The latest edition of the continental tournament has eight sides divided into two groups of four. The top-two teams from each group will then feature in the Super Four stage, before the best two sides fight it out for the title in the Final.

The tournament will see Asia's finest sides in action ahead of next year's ICC Men's T20 World Cup in India and Sri Lanka.

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Hrithik Roshan praises girlfriend Saba Azad for Songs of Paradise, reveals seeing her struggle: ‘You deserve the world’

Actor Hrithik Roshan penned an appreciation note for his girlfriend, Saba Azad, over her performance in her latest film, Songs of Paradise. Taking to Instagram on Thursday, Hrithik shared a bunch of stills featuring Saba Azad from the film. He called Saba an "incredible artist" who deserves "all the applause coming your way." The actor also shared that he has seen Saba's "struggle and helplessness."

Hrithik Roshan recalled watching Saba Azad's film many months ago.

Hrithik Roshan lauds Songs Of Paradise

Hrithik recalled watching the film many months ago and being touched by it. He wrote, “The genuine praise I'm hearing all around for the makers, technicians and artists associated with Songs of Paradise is truly heartening. I watched this movie in its rough form many months ago, and I remember being touched to my core.”

"Tears that filled me up with such deep love, especially for the character of Zeba. The humongous applause this movie is getting today has restored my infallible faith in the universe. You get what you deserve. And you @sabazad for the incredible artiste you are, for the exquisite art you create, deserve all the applause coming your way," he added.

Hrithik wrote about the struggle Saba went through

The actor talked about Saba's struggle in her career and how she deserves "the world." "I have seen your struggle, the helplessness, the frustrations, the agony that so many amazing artistes suffer from - of craving the basic right to opportunity that genuine talent deserves in a business that demands 'followers' before the 'actor'. Which is why today I feel the lightness of unbridled joy watching you get what you deserve. And you, my love, deserve the world and more," Hrithik further wrote.

"This performance goes down as my top 10 performances ever. Rock on, baby (man and woman dancing emojis). My heart is full. I love you (red heart emoji)," concluded his note.

About Songs Of Paradise

Presented by Excel Entertainment and produced by Apple Tree Pictures Production and Renzu Films Production, Songs of Paradise also stars Soni Razdan, Zain Khan Durrani, Sheeba Chaddha, Taaruk Raina, Shishir Sharma, and Lillete Dubey. Created by Danish Renzu, Songs of Paradise is inspired by the music, life, and journey of Padma Shri awardee Raj Begum. The movie premiered on Prime Video on August 29.

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Trump: As the 50% tariff impasse continues, is retaliation an option for India?

There's been the much publicised attempt at a rapprochement with China, and striking images of Prime Minister Narendra Modi sharing a limousine ride with Russian President Vladimir Putin splashed across the media from the sidelines of a security forum meeting in Tianjin.

Domestically, Modi has announced some help for struggling exporters and there are tax cuts on the anvil to mitigate the impact on exports.

But Delhi finds itself in an unenviable spot. The tariff impasse with its largest trading partner has continued far longer than anticipated, trade negotiations with Washington have come to a halt and the already damaged ties are fraying further with daily admonishments from US officials.

India's exports to the US could drop by as much as $35bn (£26.1bn) this financial year and put hundreds of thousands of jobs across key industries like textiles, gems and jewellery and leather at risk.

Pushed to the brink, the question some are asking is whether Delhi will retaliate? And if not, what are its least damaging options?

Indian Prime Minister Narendra Modi talks with Russian President Vladimir Putin (L) and Chinese President Xi jinping (R) ahead of the Shanghai Cooperation Organisation (SCO) Summit 2025 in Tianjin, China.

If the past is any precedent, India hasn't shied away from retaliation. It imposed steep tariffs on some 28 US products, including almonds and apples back in 2019, when Washington had refused to exempt the country from higher taxes on steel and aluminium.

But this time, escalating the trade war will not be in India's interests, say experts.

"Retaliation is a very costly and unproductive strategy because at the end of the day India depends more on the United States than is the case in reverse," Ashley Tellis, a professor at the Carnegie Endowment for International Peace, told The Wire portal in an interview.

At $86bn, India's goods exports to the US are nearly three times higher than the US's goods exports to India.

India's symbolic responses "in support of a multipolar world" including deepening engagement with Japan, China and Russia have been wise moves, Ajay Srivastava of the Delhi-based Global Trade Research Initiative told the BBC, adding that direct retaliation at this stage would be premature.

"India should wait at least six months to assess the full extent of US actions—not just the 50% tariffs but also any additional measures that may follow, given the unpredictability of Trump and his advisers," Srivastava said.

Delhi needn't look further than towards its bigger neighbour north to understand what tit-for-tat trade measures can potentially do. Tariffs on China went up to some 150% when Beijing slapped retaliatory duties.

India should also be wary, some experts say, of the US expanding tariffs to non-goods areas like services, digital trade and outsourcing in the event of an escalation. These make up 6% of India's GDP.

US Commerce Secretary Howard Lutnick has already warned of changes to H1B non-immigrant visas, 70% of which are used up by Indians, indicating that the impact of tense geopolitical ties has transcended trade.

A garment worker sorts tailored shirts at an apparel manufacturing unit in Bengaluru on August 25, 2025.

The best buffer against the risk of US tariffs will be diversifying export markets, say experts.

It is time for India to "cultivate economic and diplomatic ties with countries like Mexico, Canada, and China. This also means strengthening trade and cooperation with other governments concerned about the impact of Trump's tariffs, particularly in Europe and Latin America", Kaushik Basu, former chief economic adviser to the Government of India, wrote in a recent piece, external for Project Syndicate.

Srivastava agrees. Using diplomatic coalitions, and trade diversification is India's best bet to "build pressure" on Washington, he says, keeping the option of targeted retaliation only as a measure of last resort.

There are some indications already that Delhi has been actively working to expedite other trade pacts.

After signing a comprehensive agreement with the UK in July, Indian Commerce Minister Piyush Goyal said the India-EU free trade deal was in advanced stages, external of negotiation.

But diversification will not be a quick fix.

"For an individual exporter, it is going to be much harder to find new customers in markets where they have previously not had partnerships, customers, or relationships," Srividya Jandhyala, a Singapore based trade expert, told the BBC.

Another challenge for Indian exporters will be the costs of switching to new markets.

"If new clients or customers need specialised product lines, machinery, equipment, or components, Indian exporters have to decide if it is worth it for them to invest in this when there is a high degree of uncertainty about future tariffs" Jandhyala said.

In the longer run though, there will be no option to find new trading partners given the mercurial nature of Trump's policies, say experts.

Mr Srivastava says the government must accelerate market diversification on a war-footing by doing things like leading sector-specific trade missions to alternative markets and establishing export hubs in countries like the UAE and Mexico to bypass high US tariffs.

And now more than ever, "domestic competitiveness needs urgent strengthening through technology and quality upgradation funds" for exporters, he says.

Otherwise India will further cede exports market share to other Asian peers like Bangladesh and Vietnam, who currently enjoy relatively better terms of trade with the US.

Nifty 50, Sensex today: What to expect from Indian stock market in trade on September 5

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Friday, tracking upbeat global market cues.

The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 24,885 level, a premium of nearly 57 points from the Nifty futures’ previous close.

On Thursday, the equity market ended marginally higher, with the benchmark Nifty 50 closing above 24,700 level.

The Sensex rose 150.30 points, or 0.19%, to close at 80,718.01, while the Nifty 50 settled 19.25 points, or 0.08%, higher at 24,734.30.

Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:

Sensex Prediction

Sensex has formed a bearish candle on the daily charts which indicates further weakness from the current levels.

“We are of the view that the short-term market outlook remains positive; however, a fresh uptrend rally is possible only after crossing the 81,000 level. Above this, Sensex could move up to 81,500. Further upside may also continue, potentially lifting the index up to 81,800,” said Shrikant Chouhan, Head – Equity Research, Kotak Securities.

On the downside, he notes that 80,500 and 80,300 are key support zones for day traders, and if Sensex falls below 80,300, the uptrend could become vulnerable.

Nifty OI Data

In the derivatives segment, the highest Nifty Call Open Interest (OI) was recorded at the 24,800 strike, while the highest Put Open Interest was concentrated at the 24,600 strike. This setup suggests firm resistance near 24,800, with a sustained close above this level crucial to revive bullish momentum, said Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking.

Nifty 50 Prediction

Nifty 50 formed a long negative candle on the daily chart after opening higher, indicating a formation of bearish ‘meeting line’ type candle pattern.

“Nifty 50 encountered strong resistance around the 25,000 mark (upper end of last weekly bear candle and down sloping trend line). The recent bounce back in Nifty seems to have hit the hurdle and the present market action indicates some more consolidation or weakness ahead,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

According to him, the important lower supports to be watched are around 24,550 and next 24,400 levels for the next few sessions, and a decisive move only above 25,000 mark could open more short covering in the market.

Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates Ltd. highlighted that the Nifty 50 formed a bearish Marubozu candle on the daily chart, indicating weakness.

“In the near term, trend line resistance is placed around 25,000 levels, which will act as a strong hurdle, while major support is seen near 24,500 and 24,340 levels. Thus, short term traders are advised to buy near support and sell near resistance in the short term,” Yedve said.

Sudeep Shah, Head - Technical Research and Derivatives at SBI Securities said that the zone of 24,630 - 24,600 will act as immediate support for the Nifty 50 index.

“If the Nifty 50 index slips below the 24,600 level, then the next crucial support is placed at the 24,450 level. While, on the upside, the zone of 24,850 - 24,880 will act as a crucial hurdle for the index,” Shah said.

Bank Nifty Prediction

Bank Nifty index ended 7.90 points, or 0.01%, higher at 54,075.45 on Thursday, forming a bear candle, signaling consolidation as it failed to generate a follow through to previous sessions pullback.

“Bank Nifty index formed a candle with long upper and lower shadows, reflecting intraday rejection near the VWAP at 54,165 and leaving the recovery attempt inconclusive. The index continues to remain below all short-term moving averages, keeping the immediate trend tilted to the weaker side. On the broader timeframe, the index is still protecting the recent swing lows, 53,560,” said Om Mehra, Technical Research Analyst, SAMCO Securities.

On the higher side, he believes, sustaining above 54,550 would be essential to lend strength and open the path for a sustained uptrend.

“The RSI at 37 reflects muted momentum. The resistance remains at 54,550 – 54,620, where short-term averages converge, whereas support is placed at 53,600 – 53,480. Unless Nifty Bank decisively reclaims 54,900, the overall outlook is expected to stay tilted toward consolidation with limited directional move,” Mehra said.

Bajaj Broking Research said that the Bank Nifty index is seen consolidating around the 200 days EMA.

“Overall, we expect the Bank Nifty index to extend consolidation in the range 53,300 - 55,000 in the coming sessions. Bank Nifty has immediate support at 53,500 - 53,300 levels being the confluence of the 200 days EMA and the low of May 2025. A breach below the same will signal acceleration of decline towards the key support area of 52,500 - 52,000 levels in the coming week,” said the brokerage firm.

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