India has urged Russia to expedite the approval of domestic establishments and registration of marine and pharmaceutical products to further strengthen bilateral trade ties.During his visit to Moscow, Commerce Secretary Rajesh Agrawal highlighted opportunities for expanding trade and proposed measures to improve market access, the commerce ministry said in an official statement on Thursday.“The issues included expedited listing of Indian establishments and a systems-based approach with FSVPS in agriculture, especially marine products, and a time-bound pathway in pharmaceuticals covering registration, regulatory reliance, and predictable timelines,” it said, as quoted by news agency PTI.FSVPS refers to the Federal Service for Veterinary and Phytosanitary Supervision of Russia.According to the ministry, a comprehensive protocol for trade and economic collaboration across various sectors was finalised and signed during Agrawal’s meeting with Vladimir Ilyichev, Deputy Minister of Economic Development of Russia.Agrawal was in Moscow to attend the 26th Meeting of the India-Russia Working Group on Trade and Economic Cooperation.Currently, bilateral trade stands at $25 billion, with both nations aiming to raise it to $100 billion by 2030.The working group identified several potential areas for trade expansion, including engineering goods, chemicals and plastics, electronics, pharmaceuticals, agriculture, leather, and textiles. It also underscored India’s strengths in smartphones, motor vehicles, gems and jewellery, organic chemicals, textiles, and leather, which could complement Russia’s trade diversification strategy.In the services sector, India encouraged greater participation of Russian entities in IT-BPM, healthcare, education, and creative industries, while seeking smoother mobility for Indian professionals to meet Russia’s labour market needs.India also showcased its Global Capability Centre (GCC) ecosystem, comprising over 1,700 centres employing around 1.9 million professionals, as a platform for Russian firms to enhance business continuity, cybersecurity, design and analytics, and shared services.The ministry added that India acknowledged Russia’s interest in a bilateral investment treaty. “Both sides agreed to explore payments solutions to meet the needs for businesses, especially medium, small and micro enterprises,” it said.

Stock markets in the United States were at a low as investors await further economic indicators. The S&P 500 declined by 0.4% in early Thursday trading, moving away from its recent record high achieved in the previous month. The Dow Jones Industrial Average dropped 41 points, while the Nasdaq composite fell 0.7%. After the longest shutdown in its history lasting six weeks, the US government has resumed operations. Investors are bracing for possible market fluctuations as the government begins issuing crucial updates regarding employment figures and other economic indicators. The United States government has reopened after a six-week shutdown — the longest in its history. While the stock market largely gained during the closure, as it has in previous shutdowns, Wall Street is now bracing for potential volatility as the government resumes publishing key economic data, including job market and inflation reports.Investors are concerned that fresh data could prompt the Federal Reserve to pause its interest rate cuts. Although such cuts typically support economic growth, they also risk fuelling inflation. Wall Street’s recent rally to record highs has been driven in part by expectations of continued rate reductions, and a change in that outlook could weigh on stocks.The “looming data deluge may spur additional volatility in the coming weeks,” said Doug Beath, global equity strategist at Wells Fargo Investment Institute.Traders have scaled back expectations for another rate cut at the Fed’s next meeting in December, now pricing in a roughly 54 per cent chance — down from nearly 70 per cent a week earlier, according to CME Group data.That shift pushed bond yields slightly higher, a move that typically pressures stock prices. The yield on the 10-year US Treasury rose to 4.10 per cent from 4.08 per cent late Wednesday.On Wall Street, The Walt Disney Co. was among the biggest drags on the market, sliding 8.4 per cent. The entertainment major reported quarterly profits that topped analysts’ estimates, but revenue came in below expectations. Cisco Systems, however, rose 4.6 per cent after posting stronger-than-expected profit and revenue.Overseas, markets were mixed — European indexes fluctuated while Asian markets posted modest gains. Japan’s Nikkei 225 climbed 0.4 per cent even as tech giant SoftBank Group dropped another 3.4 per cent after disclosing it had sold its entire stake in chipmaker Nvidia.Concerns are mounting globally about whether Nvidia and other high-flying artificial intelligence stocks can sustain their massive gains. Their soaring valuations — which have helped drive US markets to record highs despite slowing job growth and persistent inflation — have drawn comparisons to the dot-com bubble of 2000, when the S&P 500 later plunged nearly 50 per cent after the crash.Nvidia fell another 2.9 per cent on Thursday, exerting the heaviest drag on the S&P 500. Other AI-linked stocks also declined, with Palantir Technologies down 2.9 per cent and Super Micro Computer losing 2.6 per cent.