The Trump administration has hit India with 50% tariffs. And just after a short military conflict between India and Pakistan, President Trump played host to Pakistan’s army chief of staff at the White House.

A stock market index of Indian IT firms, the Nifty IT Index (.NIFTYIT), has fallen by more than a fifth this year while the benchmark NSE Nifty (.NSEI) has been flat as weaker global demand and a shift towards AI pressures the industry.

India and China are restoring economic links strained by a deadly 2020 border clash, the latest sign Prime Minister Narendra Modi is drawing closer to the BRICS countries after US President Donald Trump hit the South Asian nation with a 50% tariff.