US President Donald Trump on Friday announced that a high-level meeting between US and Chinese representatives will take place in London on June 9, a day after calling his Chinese counterpart, Xi Jinping.
BSE Sensex ended at 81,721.08, up 769.08 points or 0.95 per cent, while the Nifty 50 at the National Stock Exchange (NSE) was at 24,853.15, up 243.45 points or 0.99 per cent.
Gold prices dipped on consecutive days on Wednesday, weighed down by easing trade tensions between China and the United States, which led to a decline in safe-haven demand.
The US Department of State has clarified that President Donald Trump's recent use of the term "unification" referred to US-China trade relations and not Taiwan, reaffirming that US policy on Taiwan remains unchanged.
As the US and China agreed to reduce tariffs on each other's goods, India can use this as leverage to strengthen exports in sectors that remain relatively insulated from US-China trade, SC Ralhan, President of the Federation of Indian Export Organisations (FIEO), said.
The Indian rupee is likely to trade with an appreciating bias in the near term, supported by a mix of favorable domestic and global factors, according to a recent report by Bank of Baroda.
India must engage with both the US and China and it should not draw itself into any binary amid the trade wars between economic giants, Ajay Srivastava, founder of Global Trade Research Initiative (GTRI) said in a note.
White House Press Secretary Karoline Leavitt responded to questions on China during the White House Press Briefing on Tuesday (US Local time) and shared with media Donald Trump's additional statement on China.
By Thursday, hardly any cargo ships were headed to the US from the once-bustling ports of Shanghai and Guangdong, while export factories in provinces vital to China's export economy have largely come to a standstill, according to sources within the country, as highlighted by RFA.
As the US and China engage in a tariff war, Tanvi Madan, Senior Fellow at the Brookings Institution, said on the sidelines of the Carnegie Global Tech Summit that India is going to be carefully watching these developments. She also spoke about the increasing Indo-US partnership across areas
Indian export leaders are optimistic that the ongoing US-China trade tensions could create significant opportunities for India in both trade and foreign investment, according to statements from key industry figures.