Top-level meetings of heads of state and senior diplomats were the key markers of this week.
On our side of the world, Chinese Foreign Minister Wang Yi called on Prime Minister Narendra Modi in the national capital ahead of the latter's trip to China next week. External Affairs Minister S Jaishankar went to Moscow.
In Washington, European leaders joined Ukraine's Volodymyr Zelensky to meet President Donald Trump after his Alaska summit with Vladimir Putin.
India's $3.7 billion online gaming world shook up as its overwhelming dependence on real-money games proved fatal after a tough regulatory legislation turned into law.
Here's a wrap of the top stories this week.
Jaishankar In Moscow, Wang Yi In Delhi
External Affairs Minister S Jaishankar on Thursday met with Russian President Vladimir Putin and Foreign Minister Sergey Lavrov. His visit to Moscow comes at a time when India has been hit with additional tariffs by the US over its purchase of Russian crude oil.
He invited Russian companies to engage "more intensively" in India as the two countries aim to expand commercial ties in the face of US tariff policies.
He said India's $4 trillion GDP, growing at 7%, requires assured supplies of essential products, fertiliser, chemicals, and machinery from dependable sources. Russia is a key producer and supplier of these items to India.
Closer home, Chinese Foreign Minister Wang Yi met Prime Minister Narendra Modi and other top Indian officials in New Delhi. Modi is set to visit China next week.
Modi thanked Xi for the invitation and confirmed his participation in the SCO Summit, expressing support for China’s Presidency. He added that stable, predictable and constructive India-China relations would significantly contribute to regional and global peace and prosperity.
Prime Minister Narendra Modi and Politburo of the Communist Party of China and Chinese Foreign Minister Wang Yi.(Source: Official X Account of PM Modi)
Prime Minister Narendra Modi and Politburo of the Communist Party of China and Chinese Foreign Minister Wang Yi.(Source: Official X Account of PM Modi)
Trump-Zelenksy Meet
US President Donald Trump had a high-stakes meeting with Ukrainian President Volodymyr Zelensky at the White House on Monday, focused on the ongoing conflict between Ukraine and Russia. The discussion, which followed a summit between Trump and Russian President Vladimir Putin, was conducted to end the Russia-Ukraine war.
Trump announced a potential trilateral meeting between himself, Putin, and Zelensky, which he said could be key to achieving "lasting peace."
The leaders discussed the possibility of security guarantees for Ukraine to prevent future Russian aggression.
Trump later met European leaders at the White House.
Parliament Nod To Online Gaming Bill
The Parliament this week passed the Promotion and Regulation of Online Gaming Bill, 2025, which outlaws real-money games. The online gaming bill also received Presidential approval to turn into law.
The legislation prohibits advertising or endorsements of platforms facilitating online games that involve monetary transactions. It proposes to bar banks, as well as non-banking financial bodies, from facilitating any transaction involving online money games. According to sources, the decision followed three and a half years of deliberations.
Companies including Dream11 and Gameskraft are likely to approach the court over the government's bill, people aware of the matter told NDTV Profit. These companies are said to be considering legal action via a writ petition that is expected to be filed with the Karnataka High Court as early as next week.
SEBI Eyes More Derivatives Regulation
SEBI Chairperson Tuhin Kanta Pandey stated at an industry event in Mumbai that the market regulator is looking into the derivatives contract durations and will make changes after a consultative process.
Pandey said that SEBI is looking to improve tenure and maturity of equity derivative contracts and hinted that a consultation paper will come on the same. That caused an immediate slide in the shares of BSE and CDSL.
RECOMMENDED FOR YOU
Jaishankar Meets Russian President Vladimir Putin
Aug 21, 2025
China, Not India, Biggest Purchaser Of Russia Oil: Jaishankar
Aug 21, 2025
Jaishankar Invites Russian Firms To Partner With India, Expand Trade Links
Aug 21, 2025
Jaishankar To Visit Russia Next Week, Hold Talks With Top Leaders
Aug 13, 2025
POPULAR