The White House said US President Trump spoke with Modi to congratulate him on BJP wins in the recent state elections. Trump expressed support for Modi’s economic reform agenda. This comes close on the heels of remarks by former Vice President Dick Cheney who said that both Modi and Trump have "similar interests at heart".

Recent remarks by US officials have emphasized common ground between India and the US, despite the Trump administration's focus on trade restrictions and H1B visa clampdowns, both of which could complicate the economic relationship between the two countries. From a foreign-policy perspective however, Trump may be looking to India as a counter-weight to China in Asia - the Trump administration has an increasingly strained relationship with India's bigger neighbour. 

In the meantime however, US companies Monsanto and Bayer are in a fix with new Indian government royalty rules. Monsanto lost a legal battle with one of India's seed producers  on Tuesday, with the court ordering Monsanto to restore a licensing agreement and cut royalty charges.The U.S. company's joint venture Mahyco Monsanto Biotech (MMB) had charged Hyderabad-based Nuziveedu Seeds with patent infringements, and use of Monsanto's technology after MMB had cancelled its licensing contract.The Delhi High Court howver, ruled that MMB should not have cancelled the contract with Nuziveedu,and that royalty payments agreed under the original contract must be reduced.

Stock in spotlight: Persistent Systems, which has won a contract with Amazon Web Services to provide integration and implementation support. PS's share price is up on the news, with high volumes this week.  

Photo of the day: Girls in traditional costumes celebrate Gudi Pawda, the Maharashtrian new year. Shailesh Andrade/Reuters