The two countries exchange lists of prisoners and fishermen twice a year, on January 1 and July 1, under provisions of the 2008 Agreement on Consular Access. This is among a limited number of bilateral mechanisms and arrangements that remain operational between the two sides, another being the exchange on January 1 of lists of nuclear installations that cannot be attacked during hostilities.

India shared the names of 382 civilian prisoners and 81 fishermen in its custody who are Pakistani or believed to be Pakistani, the external affairs ministry said. The Pakistani side provided a list of 53 civilian prisoners and 193 fishermen in its custody who are Indian or believed to be Indian.

The lists were simultaneously exchanged through diplomatic channels in New Delhi and Islamabad, the ministry said.

“The government of India has called for early release and repatriation of civilian prisoners, fishermen along with their boats, and missing Indian defence personnel from Pakistan’s custody,” the ministry said.

Pakistan was asked to expedite the release and repatriation of 159 Indian fishermen and civilian prisoners who had completed their sentences. Pakistan was also asked to provide immediate consular access to 26 civilian prisoners and fishermen in its custody who are believed to be Indian and have not been provided such access so far, the ministry said.

India urged Pakistan to expedite the process of verifying the nationality of 80 civilian prisoners and fishermen in India’s custody who are believed to be Pakistani, and whose repatriation has been held up for lack of confirmation of their nationality by Islamabad.

“Pakistan has been requested to ensure the safety, security and welfare of all Indian and believed-to-be-Indian civilian prisoners and fishermen, pending their release and repatriation to India,” it said.

The external affairs ministry said efforts by the Indian government have resulted in 2,661 Indian fishermen and 71 civilian prisoners being repatriated from Pakistan since 2014. This includes 500 fishermen and 13 civilian prisoners repatriated since 2023.

“India remains committed to addressing, on priority, all humanitarian matters, including those pertaining to prisoners and fishermen in each other’s country. In this context,” the ministry said.

India and Pakistan have not had any sustained talks since New Delhi called off the composite dialogue in the aftermath of the 2008 Mumbai attacks, which were carried out by a 10-member team of Pakistan-based Lashkar-e-Taiba (LeT). Following the Pahalgam terror attack in April, India announced a raft of punitive diplomatic and economic measures against Pakistan, including the suspension of the Indus Waters Treaty of 1960.

External Affairs Minister S Jaishankar has refuted Donald Trump’s claim that he secured a ceasefire between India and Pakistan using trade negotiations, and dismissed rumours that the conflict affected India-US trade relations, PTI reported. He was speaking to Newsweek in Manhattan on June 30. 

Jaishankar is on an official visit to the US and will travel to Washington DC to participate in the Quad Foreign Ministers’ Meeting on July 1 (today).

Jaishakar refutes Trump’s ceasefire claim

After the interview, answering a question about Donald Trump’s ceasefire claim and whether there was any negative impact on India-US trade, Jaishankar said, “No, I don’t think so.”

“I think the trade people are doing what the trade people should be doing, which is negotiate with numbers and lines and products and do their trade-offs. I think they are very professional and very, very focused about it,” he added.

‘Dealings with Pakistan bilateral’, says Jaishankar

Jaishankar further said that there is a national consensus in India that “our dealings with Pakistan are bilateral”.

Recounting the event as he saw it unfold on then, Jaishakar shared, “And in this particular case, I can tell you that I was in the room when Vice President (JD) Vance spoke to Prime Minister (Narendra) Modi on the night of May 9, saying that the Pakistanis would launch a very massive assault on India if we did not accept certain things.”

“…the Prime Minister was impervious to what the Pakistanis were threatening to do. On the contrary, he indicated that there would be a response from us. This was the night before and the Pakistanis did attack us massively that night, we responded very quickly thereafter,” he said.

“And the next morning, Mr (Secretary of State Marco) Rubio called me up and said the Pakistanis were ready to talk. So I can only tell you from my personal experience what happened. The rest I leave to you,” he added.

‘Won’t allow nuclear blackmail to prevent response to Pak terror’

On the Pahalgam terror attack, Jaishankar asserted that it was an act of economic warfare meant to destroy tourism in Kashmir, and stressed that India will not allow nuclear blackmail to prevent it from responding to terror emanating from Pakistan.

“India has had a string of terrorist attacks over the years emanating from Pakistan and in the wake of the April 22 Pahalgam terror attack, there was a sentiment in the country that ‘enough is enough’,” Jaishankar said.

He added, “The Pahalgam attack was an act of economic warfare. It was meant to destroy tourism in Kashmir, which was the mainstay of the economy. It was also meant to provoke religious violence because people were asked to identify their faith before they were killed. So we decided that we cannot let terrorists function with impunity. The idea that they are on that side of the border, and that, therefore, sort of prevents retribution, I think, that’s a proposition that needs to be challenged and that is what we did.”

MUMBAI, July 1 (Reuters) – Indian government bonds are expected to have a muted start to the quarter on Tuesday, as investors would await fresh cues after yields crept up in June, breaking a three-month declining streak.

The yield on the benchmark 10-year bond is expected to trade between 6.31% and 6.33%, a trader at a private bank said, after closing at 6.3241% in the previous session. The five-year 6.75% 2029 bond ended at 6.0013% on Monday.

Shorter-duration bonds outperformed their longer-duration counterparts for a second straight quarter in April-June, with the five-year bond yield plunging by 45 basis points, outpacing the 10-year bond yield that fell 26 bps.

“Whatever we witnessed in April-June is definitely not going to be repeated, as the scenario has completely changed and the Reserve Bank of India has moved to liquidity withdrawal mode, instead of infusion,” the trader said.

The RBI conducted a seven-day variable rate reverse repo on Friday, withdrawing 850 billion rupees ($9.9 billion) from the banking system which contributed to pushing up overnight rates.

The focus would remain on any follow-up action from the central bank this week, which will give more clarity on its comfort with liquidity and rates.

Demand may also remain impacted as the government did not announce a tweak to the debt supply pattern, which some investors had anticipated.

Indian states aim to borrow 2.87 trillion rupees through sale of bonds in this quarter, lower than the around 3 trillion rupees the market had expected. States sold more than 2 trillion rupees of bonds in April-June. RATES India’s overnight index swap rates are likely to remain stable on Tuesday after declining in the previous quarter.

The one-year OIS rate dropped 50 bps in April-June to 5.54%, while the two-year OIS rate declined 33 bps to 5.51%. The liquid five-year was at 5.71%, down 20 bps. KEY INDICATORS: ** Brent crude futures were 1.8% lower at $66.40 per barrel after easing 0.2% in the previous session ** Ten-year U.S. Treasury yield at 4.2163%; two-year yield at 3.7233% ** Indian states aim to raise 181 billion rupees via sale of bonds ($1 = 85.6610 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Ronojoy Mazumdar)

“Relationships will never be free of issues and even differences. What matters is the ability to deal with it and keep trends moving in a positive direction,” said Jaishankar in New York at an event hosted by Newsweek, an American news magazine.

“I remember when I was Ambassador, I literally came in a few days after we had a problem related to one of our diplomats in New York City. And then, I had to deal with (Section) 301 issues, compulsory licensing controversies and with plans to sell F-16 aircraft to Pakistan. We dealt with it,” said India’s top diplomat while pointing out that India had seen tensions with US administrations in the past as well. Despite this, Jaishankar argued, India and the United States are brought together by fundamental convergences on economic and strategic issues.

India and the United States have disagreed publicly on the exact role played by Washington in mediating a ceasefire between New Delhi and Islamabad after military clashes in early May. US President Donald Trump – who announced the ceasefire before the Indian and Pakistani governments – claimed credit for brokering an end to hostilities. The Trump administration has also attempted to mediate between India and Pakistan on the Kashmir issue and claimed that trade-related inducements were offered to help ease tensions.

India has publicly contested these claims by Washington. According to foreign secretary Vikram Misri, Prime Minister Narendra Modi made India’s position clear during a phone conversation with President Trump after the G7 summit earlier in June.

“Prime Minister Modi stated that the ceasefire was agreed to only at the request of Pakistan and that India does not want mediation. He made it clear that at no point during this episode were India-US trade talks or third-party mediation discussed,” Misri said in a statement.

“The halt to military action was discussed directly between the two countries through existing military channels,” he added.

A scheduled meeting between Trump and Modi on the sidelines of the G7 meeting in Canada was reportedly cancelled after the former left the summit early. The Indian PM subsequently declined Trump’s invitation to stop over in America on the way back from Canada.

The Trump administration’s overtures to Pakistan have also been in focus after Trump hosted Pakistan’s Army Chief Field Marshal Asim Munir for a lunch at the White House. Top US military and diplomatic officials have outlined plans for a closer economic and defence relationship with Pakistan, including cooperation on security, counter-terrorism, investment and critical minerals. New Delhi has refrained from commenting publicly on these overtures to Pakistan but has noted these developments with some concern, according to persons aware of the matter.

Despite these concerns, Jaishankar outlined plans for a closer partnership with America, including through a trade deal with Washington. The two countries are engaged in active negotiations with the deal expected to be finalised soon, according to White House spokesperson Karoline Leavitt.

“Obviously, my hope would be that we can get to a successful conclusion to the trade deal,” said Jaishankar while stating that there would have to be “give and take” on both sides to secure the agreement.

Jaishankar will also meet with US Secretary of State Marco Rubio on Tuesday. The latter is hosting the Quad Foreign Minister’s Meeting, which will also feature Japan’s Takeshi Iwaya and Australia’s Penny Wong.

“There are a lot of issues we need to discuss in the Indo-Pacific. These are issues of maritime safety and security, connectivity, technology, pandemic preparedness and even of education,” said Jaishankar about the Quad’s agenda.

With June rains exceeding normal by 8.9%, the July forecast means this year’s rainfall from the Southwest Monsoon could meet the weather office’s April estimate of being above normal. Overall June rain was 8.9% excess, with 42.2% excess over northwest India; 24.8% excess over central India; 2.7% deficiency over south peninsula and 16.9% deficiency over east and northeast India.

The long period average or LPA in July for the country, based on data from 1971 to 2020 is about 280.4 mm. “Many parts of the country are likely to experience normal to above normal rainfall. However, most parts of northeast India and many parts of east India, extreme south peninsular India and some areas of northwest India are likely to receive below normal rainfall,” IMD officials said on Monday.

July is the main monsoon month and normally records 28 cm of the total LPA of 87 cm for the four monsoon months–June, July, August and September. It is also a critical month for agriculture as sowing of paddy and other kharif (monsoon sown) crops takes place during July. The monsoon is critical for India’s economy with 51% of India’s farmed area, accounting for 40% of production, being rain-fed.

IMD has however warned of flooding in Uttarakhand, Haryana-Chandigarh-Delhi , parts of east Central India including Odisha, Telangana, Chhattisgarh, Vidarbha, and parts of Maharashtra .

“Our long range forecast indicates that Uttarakhand, Haryana-Chandigarh-Haryana region and several parts of central and east central India will receive above-normal rain. We should take care and there should be continuous monitoring. There are several river basins in these areas, rivulets are also flowing here and hence reservoirs need continuous monitoring so that there is timely release of excess water,” said M Mohapatra, director general, IMD.

“It is also important to note that there are several south flowing rivers in Uttarakhand and there are important towns and cities along these rivers. We need to be cautious. Do not be complacent,” added Mohapatra. The Ganga and Yamuna also originate in Uttarakhand.

Both day and night temperatures are expected to be normal to below normal in many areas in July, IMD said. “Monthly average maximum temperatures are expected to remain normal to below normal in many regions, except northeast India and some areas of the northwest, east and southern peninsula, where they are likely to be above normal,” IMD said.

“Minimum temperatures are expected to be normal to below normal over many parts of the country. However, above normal minimum temperatures are likely over Northeast India, many parts of south peninsular India and some parts of Northwest, East and Central India,” IMD added in its forecast.

June was relatively cool. Average maximum temperature during June (34.11 degree C) was 36th lowest and average minimum temperature (24.88 degree C) was 86th lowest since 1901. Mean temperature was also 57th lowest for the country. Rainfall in June was around 9% excess over the country. Around 70 stations reported extremely heavy rain (over 20 cm) and 432 stations reported very heavy rain (15 to 20 cm).

As HT has previously reported, aggregate rainfall hides regional disparities.

NEW DELHI: Following the acquisition of JB Chemicals & Pharmaceuticals (JB Chem), Torrent Pharma is set to become India’s fifth-largest pharmaceutical company, capturing a 4.6% share of the Rs 2.3 lakh crore organised retail market.The acquisition boosts Torrent Pharma’s rank from 7th to 5th place, increasing its market share from 3.6% to 4.6%, according to data gathered by TOI from market intelligence firm Pharmarack.Sun Pharma leads the highly fragmented pharma market with sales of over Rs 19,000 crore and an 8.3% share (Moving Annual Total or 12-month period ended May ’25). The Ahmedabad-based firm, the flagship of the Torrent group, follows Cipla, which has a 5.2% market share. Significantly, the deal propels Torrent to become the number one player in the over Rs 30,000 crore cardiac therapy market, overtaking the leader, Sun Pharma, from an existing 7% to nearly 11% share (MAT May ’25). While in the Rs 28,000-crore gastrointestinal therapy, Torrent will move up two positions to the second slot after the potential merger. Cardiac and gastrointestinal therapies represent the two largest segments of the chronic and acute pharma retail market. With this deal, Torrent has significantly strengthened its position in these key high-growth therapeutic areas. Further, the India business of the merged entity will have sales of over Rs 10,600 crore, with consolidated revenues exceeding Rs 15,000 crore. The Torrent script closed nearly 2% higher at Rs 3410, while the discounted open offer price plunged JB Chem’s stock price by over 6% to Rs 1680 on the BSE on Monday. “As corporates grow in size, inorganic growth with strategic partnerships has become the norm. Torrent has done it well in the past as well. Acquisition of key portfolios of Elder, Unichem, and Curatio has strengthened its position in nutritionals, gastro, and derma segments in the past,” Sheetal Sapale, VP Commercial, Pharmarack, told TOI. Over the years, the company, a leader in cardiovascular and central nervous system therapies, grew inorganically by acquiring Elder Pharma and Unichem Labs’ India businesses, Curatio Healthcare, and brands from Novartis and Dr Reddy’s Labs. Further, Elder’s brand Shelcal range (nutrition), Unichem’s Unienzyme (gastro-intestinal), and Curatio’s Tedibar (derma), some of the largest-selling pharma formulations in their respective segments, are part of Torrent’s portfolio.The deal also provides Torrent an entry into untapped therapeutic areas like ophthalmology and the fast-growing CDMO (Contract Development and Manufacturing Organization) segment. Around 11% of JB Chem’s revenue comes from the CDMO business, and it is one of the top companies to manufacture lozenges globally. In terms of prescriptions, the merged company will jump to the 4th rank with a share of 5.4% prescriptions, up from the 10th right now, according to the SMSRC Prescription dataset (MAT Feb ’25).

The remarks by Chinese foreign ministry spokesperson Mao Ning came four days after Singh met his Chinese counterpart Admiral Dong Jun and emphasised the need for a permanent solution to the border dispute.

“China stands ready to maintain communication with India on issues including delimitation negotiation and border management, jointly keep the border areas peaceful and tranquil, and promote cross-border exchange and cooperation,” Mao told a media briefing in Beijing while responding to a question on Singh’s comments.

Since India and China reached an understanding last October to end a four-year military face-off in Ladakh sector of the Line of Actual Control (LAC), the two sides have held a series of meetings to normalise their relations and to address the border issue. This has included meetings between the Special Representatives on the border issue, National Security Adviser Ajit Doval and Chinese foreign minister Wang Yi.

Mao acknowledged the border dispute would take time to resolve and hoped India will work with China to manage the border areas and keep them peaceful.

“The boundary question is complicated, and it takes time to settle it. The positive side is that the two countries have already established mechanisms at various levels for thorough communication,” she said. “We hope that India will work with China in the same direction, continue to stay in communication on relevant issues and jointly keep the border areas peaceful and tranquil.”

An intense clash between the two sides at Galwan Valley in June 2020 had killed 20 Indian soldiers and at least four Chinese troops and taken bilateral ties to their lowest point in six decades.

Mao also pointed to various measures initiated by the two sides to address the border issue, including the mechanism of Special Representatives and the Agreement on the Political Parameters and Guiding Principles for the Settlement of the China-India Boundary Question. The two sides also have diplomatic and military communication mechanisms at various levels, she said.

When Singh met his Chinese counterpart on the margins of the Shanghai Cooperation Organisation (SCO) defence ministers’ meeting in Qingdao on June 26, he highlighted the need for solving “complex issues through a structured roadmap of permanent engagement and de-escalation”.

Singh also stressed on border management and the need for a “permanent solution of border demarcation by rejuvenating the established mechanism on the issue”, according to a readout from India’s defence ministry.

He called for “bridging the trust deficit” created by the 2020 border standoff by taking action on the ground. Singh emphasised “good neighbourly conditions to achieve best mutual benefits” and to cooperate for stability in Asia and the world.

The readout said Singh and Dong agreed to continue consultations to achieve progress on troop disengagement, de-escalation, border management and “eventual de-limitation through existing mechanisms”.

As part of the ongoing process of normalising relations, India and China recently resumed the pilgrimage to Kailash Mansarovar in the Tibet region. They are also engaged in talks on resuming direct flights.