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Ukraine and its European allies have demanded a 30-day ceasefire starting Monday — calling it a prerequisite for direct peace talks between Kyiv and Moscow.

While US President Donald Trump “thinks” of flying to Turkey this week for possible talks between Ukraine and Russia over the ongoing war, the European leaders are threatening Moscow with a new round of punishing sanctions if it doesn’t accept an unconditional ceasefire deal with Kyiv. In a fresh twist to the stop-start peace talks process, Ukrainian President Volodymyr Zelensky on Sunday accepted his Russian counterpart’s offer of direct peace talks and said he would travel to Turkey and wait to meet President Vladimir Putin there on Thursday. 

Efforts to diplomatically end the war in Ukraine are speeding up before the proposed meeting in Istanbul on Thursday, with each party– including Kyiv, Moscow, Washington and European leaders– wanting to achieve an outcome they want.

What Does Europe Want

Ukraine and its European allies have demanded a 30-day ceasefire starting Monday — calling it a prerequisite for direct peace talks between Kyiv and Moscow. European leaders have also threatened to immediately impose new sanctions on Russia if the Kremlin does not change its stance by the end of Monday.

“The clock is ticking – we still have 12 hours until the end of this day,” said Stefan Kornelius, spokesperson of the German government, at a news conference.

Moscow, meanwhile, rejected their call on Monday, despite threats. Kremlin spokesman Dmitry Peskov said during his daily briefing that “the language of ultimatums is unacceptable to Russia”.

He later said that Moscow wanted “serious” negotiations to achieve peace in the conflict, which has left tens of thousands of people dead.

Moreover, Defence ministers from five major European military powers are also planning to meet in Italy on Friday to discuss support for Ukraine. Italian Defence Minister Guido Crosetto will host his counterparts from Britain, France, Germany and Poland, his ministry said Monday in a statement.

What The US Said

Trump has said that he was “thinking” of flying to Turkey for possible Russia-Ukraine talks. “I was thinking about actually flying over there. There’s a possibility of it, I guess, if I think things can happen,” the US President told journalists at the White House prior to departing for a trip to the Middle East.

“I think you may have a good result out of the Thursday meeting in Turkey between Russia and Ukraine, and I believe the two leaders are going to be there,” he said.

Asked if he would sanction Russia if President Vladimir Putin does not agree to a 30-day ceasefire, Trump said: “I have a feeling they’re going to agree. I do. I have a feeling.”

The US State Department said that Secretary of State Marco Rubio had spoken with his Turkish counterpart, Hakan Fidan, on  Monday and thanked Turkey for “hosting and facilitating Russian and Ukrainian direct negotiations.” Rubio, who is accompanying Trump on the Middle East visit, “welcomed the possibility of an immediate ceasefire,” the State Department said.

Russia-Ukraine War

The prospect of direct Russia-Ukraine talks on ending the war — the first since the early months of Moscow’s 2022 invasion — has been welcomed by Washington and across Europe. Tens of thousands have been killed and millions forced to flee their homes since Russia invaded Ukraine, while its army now controls around one-fifth of the country — including the Crimean Peninsula, annexed in 2014.

Trump imposed ‘reciprocal tariffs’ on India – worth around 27 per cent – in April, but these tariffs were later suspended, as they were for many other nations, till July 9.

Talks over an India-United States trade deal are ongoing, External Affairs Minister S Jaishankar said Thursday, labelling them ‘complicated’ and warning “nothing is decided till everything is…”

“Any trade deal has to be mutually beneficial; it has to work for both countries. That would be our expectation from any trade deal. Until that is done, any judgement will be premature,” Mr Jaishankar told reporters this evening at the opening of the Honduras’ new embassy in New Delhi.

He was responding to US President Donald Trump’s claim of a ‘no tariff’ proposal.

Speaking at a business leaders’ forum in Doha earlier in the day, Trump had said, “It is very hard to sell in India… they are offering a deal… willing to literally charge us no tariffs.”

A confirmed India-US trade deal would be a major event at any time, but more so since Donald Trump returned to power in Washington, D.C., bringing with him a slew of tariffs to counter duties other countries – including India, whom he decried as ‘a very big abuser’ – impose on the import of US goods.

However, the 10 per cent baseline tariff imposed on all countries on April 2 remains in effect, in addition to the 25 per cent taxes on steel, aluminium, and auto components.

India reacted by lowering tariffs on some American goods, including motorcycles and bourbon whiskey, but the government later delinked the revision of duties and Trump’s tariff threats.

More pertinently, India also said it would not retaliate to the US’ tariffs, as others had, opting instead to reinforce the messaging to Washington, that ‘Delhi wants to remain a trusted trading partner…’

Since then the two countries have been working to expedite an agreement that Trump and Prime Minister Narendra Modi believe will push bilateral trade to over $500 billion by 2030.

A delegation led by Commerce Minister Piyush Goyal will visit the US May 17-20 to pick up talks.

On India-US Trade Deal

The biggest step in that direction was in April; US Vice President JD Vance was in India and met the Prime Minister, after which he said terms of reference had been finalised. Days later Trump indicated a deal – as part of which India may give the US ‘forward most-favoured nation’ status – was imminent.

“I think we’ll have a deal with India… they want to make a deal,” he declared.

The deal, when it is struck, is expected to cover 24 categories of goods traded between India and the US, which include farm products like soybeans and corn, and military equipment.

In return, Delhi has asked for favourable tariffs for labour-intensive sectors like textiles, toys, leather goods, furniture, gems and jewellery, and automotive components.

Trump’s ‘Let’s Trade’ Push

Meanwhile, talks over the deal are also playing out over India and Pakistan’s 100-hour war last week – the fallout of the April 22 Pahalgam terror attack and Delhi’s military response, Operation Sindoor.

India’s UK Deal

New Delhi has announced a Free Trade Agreement with the United Kingdom.

Under the deal, India and the UK will get liberal market access and eased trade restrictions, and the sectors that will likely benefit most are food processing, food and beverages, and automobiles.

India has agreed to slash levies on 90 per cent of British products sold in the country, from medical devices to machinery, with 85 per cent of those becoming tariff-free within a decade.

Britain has agreed to reduce tariffs too, which will leave around 99 per cent of Indian exports facing zero duties. One of the Indian industries that will benefit most is the textile industry that employs millions.

Deal With Europe

In addition, Delhi has also signed a $100 billion deal with the European Free Trade Association, which is a group of four European countries that are not part of the European Union. These nations are Iceland, Liechtenstein, Norway, and Switzerland. The EU and India are working on a free trade deal too.

Bhashini says that its partnership will Snapdeal will address India’s diverse linguistic landscape in the e-commerce sector.

Snapdeal the popular e-commerce platform, signed a Memorandum of Understanding (MoU) with Bhashini on Tuesday. With this partnership, Snapdeal aims to boost digital inclusion in the e-commerce space in India. The collaboration will leverage artificial intelligence (AI) to develop solutions and services to cater to nine different vernacular languages of the country. The online shopping platform has stated that it will build AI-powered language translation solutions as well as AI-based voice-first technologies. A particular focus will be on the Tier-3 cities and beyond.

Snapdeal, Bhashini Sign MoU to Develop AI-Powered Services

In a press release, Snapdeal highlighted that the MoU was signed to develop services and products to improve language translation efforts which will eventually promote digital inclusion in India. The company did not specify any particular tools or services it will be building.

It is currently unknown whether these technologies will be open sourced to help the entire e-commerce ecosystem or will be used for the Snapdeal platform. The MOU was signed between Bharat Venishetti, Group Head of Strategic Finance, Snapdeal and Amitabh Nag, CEO of Bhashini.

Bhashini, an Independent Business Division established by the Ministry of Electronics and Information Technology (MeitY) within Digital India Corporation (DIC), stated in a LinkedIn post that the partnership would make digital and e-commerce services “accessible to all”.

“This collaboration focuses on Snapdeal’s commitment to advancing digital inclusivity in India. We look forward to combining Bhashini’s deep expertise in language solutions with Snapdeal’s robust e-commerce platform to empower individuals across diverse linguistic backgrounds. This initiative aligns seamlessly with our mission to enhance accessibility and affordability in online shopping, particularly in Tier 3 cities and beyond,” said Himanshu Chakrawarti, CEO at Snapdeal.

It is believed that the AI integration with Bhashini will allow Snapdeal to show its product catalogue, product descriptions, and other areas of the platform in different vernacular languages without updating them manually. The e-commerce platform could also introduce voice-based search features.

“We are committed to leveraging technology for the greater good and enabling inclusive digital experiences for all. Through innovative use of Al and technology, we are determined to break down barriers, build greater digital participation, and create a more connected and inclusive digital ecosystem for all Indians,” said Nag.

Kunal Bahl also said that his H-1B visa application was rejected but that led to the beginning of his entrepreneurial journey.The road to success is often paved with failure. At least that’s how things turned out for entrepreneur and investor Kunal Bahl. He didn’t get into IIT (something his parents were hoping for) but that didn’t stop him from achieving massive success in life.

“Many things that I wanted didn’t go as per plan at that point in time but it set me on a path that was better for me. I didn’t get into IIT but I got into a good US college that opened my mind and really helped me blossom,” Mr Bahl said at the NDTV World Summit 2024.

“So, at that point in time, it feels like you have failed, that’s how society will make you feel. Like I said earlier come out of the bottom of that abyss, find that little bit of courage to continue. I remember the day I didn’t get into IIT, everyone was upset in my family. I went and played three hours of cricket and picked up from where I left off,” he added.

The Snapdeal and Titan Capital co-founder also said that his H-1B visa application was rejected but that led to the beginning of his entrepreneurial journey.

“I was working at Microsoft in the US and they applied for my H-1B visa. I thought I would live in the US for a few years. But one day I was sitting in my office and I got a one-line email that my H1b visa had been rejected and that’s how I came back and started my journey as an entrepreneur. If you keep working with hardwork and sincerity, eventually success will follow,” he said.

The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise.

After returning to India, Kunal Bahl co-founded Snapdeal – a major e-commerce platform and Titan Capital, a venture capital firm that supports early-stage startups.

At the summit, he also explained why India should celebrate ‘Indicorns’. “The term unicorn has emerged from the US, suited more to the American context, and India needs to celebrate ‘Indicorns’ with its own benchmarks of success and business goals tailored to the Indian context.”

While praising the show for promoting entrepreneurship, Mr Goenka acknowledged the significant financial struggles faced by some of the investors’ companies.

Harsh Goenka, the chairperson of RPG Group, recently sparked a debate on social media by sharing data on the financial losses incurred by some of the judges on Shark Tank India. Mr Goenka, who enjoys watching the show, shared the profit after-tax data for FY24, revealing the financial performances of companies backed by the Shark Tank India investors.

While praising the show for promoting entrepreneurship, Mr Goenka acknowledged the significant financial struggles faced by some of the investors’ companies. The shared data highlights substantial losses incurred by several companies, including Vineeta Singh’s Sugar Cosmetics, which reported a loss of Rs 68 crore,  Aman Gupta’s boAt with a loss of Rs 54 crore, Anupam Mittal’s Shaadi.com with a loss of Rs 18 crore, and Lenskart with a loss of Rs 10 crore. However, the largest losses were reported by Acko General Insurance, amounting to Rs 456 crore, Inshorts with a loss of Rs 228 crore, and Oyo Rooms with a loss of Rs 184 crore.

“I still love watching #SharkTankIndia. But it seems some of our sharks are still navigating choppy waters. There’s more ‘bleeding’ in the tank than I thought,” the industrialist wrote on X.

Reacting to the data, one user wrote, “The way they all grill gives an impression as if they are the most profitable companies in this country.”

Another commented, “Sharks create Sharks. And then water becomes more choppy.” A third said, “I still not able to understand that sharks expect pitchers that their business should be profit-making, and their own companies are struggling since long to make profits.”

A fourth added, “All are good sharks. Few crores are acceptable if shark companies are contributing in the employment generation. With time, companies come in profit.”

In January 2023, Mr Goenka made a similar post that elicited a response from Anupam Mittal. While the Shaadi.com founder acknowledged Mr Goenka’s comments, he also mounted a defence of entrepreneurship, emphasising the inherent risks and challenges that come with it.

Mr Mittal replied, “I know you meant it in jest, so with all due respect, sir, I think you reacted to what appears to be superficial, biased, and incomplete data. Happy to learn from stalwarts, but just to clarify, like you, the sharks don’t bleed red, we bleed blue, and that’s why we do what we do.

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