Apple ($AAPL) is ramping up iPhone production in India, even as trade tensions grow between Washington and New Delhi over Russian oil imports. The

Move reflects India’s desire to insulate itself from foreign currency fluctuations and could reduce country’s reliance on US dollar, analysts say.

Indian Prime Minister Narendra Modi meets with visiting Chinese Foreign Minister Wang Yi, who is also a member of the Political Bureau of the Communist Party of China Central Committee and director of the Office of the Central Commission for Foreign Affairs, in New Delhi, India, on Aug. 19, 2025. (Xinhua/Javed Dar)

In talks on the border issue with Indian national security adviser Ajit Doval, the two sides agreed to "explore the possibility of advancing boundary demarcation negotiations" and vowed to reopen three border trade markets, according to a Xinhua report Wednesday.

The Indian rupee is poised to open higher on Monday, supported by a likely rally in local equities after Prime Minister Narendra Modi’s sweeping tax reforms to boost growth, though persistent U.S.–India trade tensions should cap the advance.

White House Press Secretary Karoline Leavitt said President Trump used trade as leverage to end the India-Pakistan conflict after the Pahalgam attack, calling him proud of brokering peace deals worldwide.

Indian Prime Minister Narendra Modi hailed “steady progress” in improving relations with China after meeting its top diplomat Tuesday following a yearslong standoff between the nuclear-armed Asian powers.

Indian Foreign Minister Subrahmanyam Jaishankar and his Chinese counterpart Wang Yi on Monday discussed border peace, trade issues and bilateral exchanges, aiming to strengthen cooperation between the two countries.

A scheduled trip by a U.S. trade delegation to India later this month has been called off, according to reports. Several rounds of talks on a bilateral trade deal between the U.S.—the world's largest economy—and India, the world's most populous nation and itself a major economic power, have so far failed to yield an agreement.