The steep 50 per cent tariffs imposed by the United States on Indian goods are largely a result of President Donald Trump's 'personal pique' at not being allowed to mediate in the India-Pakistan conflict, according to a recent report by American multinational investment bank and financial services company Jefferies.
India, the world's third largest oil consuming and importing nation, bought crude oil worth 49 billion euros from Russia in the third year of Moscow's invasion of Ukraine, a global think tank said. India, which has traditionally sourced its oil from the Middle East, began importing a large volume of oil from Russia soon after the invasion of Ukraine in February 2022.
Gold prices on Tuesday surged Rs 723 to touch an all-time high of Rs 110,312 per 10 grams in the domestic futures market, tracking strong global cues amid growing expectations of a US Federal Reserve interest rate cut next week. Traders said weak US labour market data has strengthened the case for monetary policy easing, putting pressure on the dollar and boosting demand for the safe-haven asset.
The Border Security Force (BSF) is training specialized 'drone commandos' and 'drone warriors' for modern warfare, with plans to deploy them in missions like Operation Sindoor. A 'School of Drone Warfare' has been inaugurated to provide training in UAV operations, anti-drone warfare, and surveillance.
The White House trade adviser, Peter Navarro, on Sunday (local time) again added to his previous meltdown, after being corrected over spreading misinformation pertaining to India's purchase of Russian oil, by dismissing the community notes on X and accusing it of serving 'foreign interests' that meddle in domestic US economics and politics.
'Pakistan is an ally who gives the US access.' 'If we have a presence there, it puts us that much closer to China and puts our assets closer to China and Iran.'
A senior Russian diplomat has called the US pressure on India for its procurement of Russian crude oil "unjustified," expressing confidence in continued energy cooperation between India and Russia despite external pressures.
Pakistan Prime Minister Shehbaz Sharif said on Tuesday that his country respects Russia's relations with India, as he called for strengthening Islamabad's ties with Moscow during his talks with Russian President Vladimir Putin in Beijing.
Prime Minister Narendra Modi on Friday said it is important for India and China to work together to bring stability to the world economic order as he asserted that New Delhi is ready to advance bilateral ties from a strategic and long-term perspective based on mutual respect, mutual interest and mutual sensitivity.
'Geopolitical stability could remove the crude oil risk premium.'
'Trump is not shy when he is frustrated with countries'
United States President Donald Trump once again mounted a sharp attack on India and Russia for their close ties and said that the two countries can take their 'dead economies down together'.
India has strongly criticized the US and EU for their 'unjustified and unreasonable' targeting of New Delhi for its procurement of Russian crude oil, pointing out their own continued trade relations with Russia.
Indian envoy Vinay Mohan Kwatra discussed fair, balanced and mutually beneficial trade ties with US lawmakers amid ongoing tariff tensions between New Delhi and Washington.
Looking to assert his supremacy across formats, reigning world champion D Gukesh of India began his campaign in the FIDE Grand Swiss in Samarkand, Uzbekistan, with a crushing victory over France's Etienne Bacrot in the first round.
Kremlin spokesman Dmitry Peskov said the two leaders had a tete-a-tete in the car for about an hour.
External Affairs Minister S Jaishankar will address the session on September 27
A US official has stated that India's continued purchase of Russian oil is a point of contention in the relationship between the two countries, as it helps fund Russia's war efforts in Ukraine.
Prime Minister Narendra Modi was offered a lift by Russian President Vladimir Putin in his AURUS limousine to reach the venue of their bilateral talks on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Tianjin on Monday.
Amid escalating India-US trade tensions, Nita Mukesh Ambani Cultural Centre -- the tony cultural event outfit run by billionaire Mukesh Ambani's wife -- has postponed next week's theatrical event in New York, citing "unforeseen circumstances".
If India caves in to US pressure as Trump hopes it will, he will further try to blackmail it into submission, points out Ramesh Menon.
US President Donald Trump has announced a 25 per cent plus tariff on India from Aug 1. Trump, describing India as a "friend", said the US has done relatively "little business" with the country because of its high tariffs.
Stressing that wars are "very bad", Trump said that he seems to have "an ability to end them, to get people together" for which he uses the "power of the United States".
A fire erupted in Russia's Kursk Nuclear Power Plant on Sunday after Ukraine launched a drone attack at one of Russia's biggest nuclear power plants, damaging a transformer and causing a fall in the output of one of its reactors by 50 per cent, Anadolu Agency reported, citing the plant's press service.
Saarika was dominant in the 53kg weight class. She outclassed Sevval Cayir by technical superiority (12-2) and did not lose a single point in her quarterfinal against China's Tianyu Sun, winning 8-0.
Glimpses from India and around the world that will make you smile and cry.
Glimpses from around the world that will make you smile and cry.
'...it should not delude itself into thinking that India's security or its great-power ambitions will be advanced by those partnerships.'
'Instead, what India should focus on is on riding out the next three-and-a-half years of Trump's presidency with minimal damage to itself.'
On Thursday, Putin also said that he was in touch with India, Brazil and China on the Ukraine conflict.
India on Tuesday pressed Russia to release all the Indians recruited by the Russian military, following the death of another Indian national in the Russia-Ukraine conflict zone, taking the death toll to 10.
New Delhi 'will have to take a call which supply source suits us the best,' the finance minister said, pointing out that crude oil accounts for the bulk of India's foreign exchange spend.
"So I think what happens is it's all bravado, because you think it feels good to fight with the biggest client in the world, but eventually your businesses are going to say you've got to stop this and go make a deal with America."
Putin said that the Indian leader had "aptly" noted that it is "not an anti-western one but a non-western one".
Prime Minister Narendra Modi on Tuesday conveyed to Russian President Vladimir Putin that India stands ready to provide all possible cooperation towards ending the Russia-Ukraine conflict and that dialogue and diplomacy is the only way to bring peace to the region.
Among Sensex firms, Tata Motors rose the most by 3.5 per cent while Adani Ports gained 3.16 per cent. Reliance Industries rose by 2.82 per cent. Eternal, Tech Mahindra, Kotak Mahindra Bank, Hindustan Unilever and Maruti were also among the gainers. However, Bajaj Finserv, Power Grid, Mahindra & Mahindra and HCL Tech were among the laggards.
Modi in a post on X said the two leaders also discussed measures to further strengthen Special and Privileged Strategic Partnership between the two countries.
India described as "inaccurate" a media report that said artillery shells sold by Indian arms manufacturers have been diverted by European customers to Ukraine and New Delhi has not intervened to stop it.
US President Donald Trump reiterated his claim that he "settled" the conflict between India and Pakistan, suggesting it averted a potential nuclear war. He also claimed that several planes were shot down during the conflict.
The White House readout of the call had no reference to Bangladesh, which was mentioned in an 'X' post by PM Modi.
Zelenskyy further said that the assault occurred overnight and into the morning, and involved a barrage of approximately 120 missiles and 90 drones, including Shaheds, Zircons, Iskanders, and Kinzhals.
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