Import duty cuts on labour-intensive sectors such as textiles and footwear, as well as cars, and wines, are likely to be part of the free trade agreement between India and the 27-nation bloc European Union (EU), the conclusion of which is set to be announced on January 27 here, sources said.
The Kremlin states it has not received confirmation from India regarding a halt to Russian oil purchases, following claims made by former US President Donald Trump. Russia affirms its commitment to strengthening relations with India.
The additional 25 per cent tariff imposed by US President Donald Trump on India is set to deliver a major blow to West Bengal's export-driven economy, with the state's labour-intensive leather, engineering and marine sectors expecting losses ahead of the festive season, stakeholders said. The increased levies on Indian products for the country's purchases of Russian oil came into effect on Wednesday, bringing the total amount of tariff imposed on New Delhi to 50 per cent.
With the Iran war escalating sharply and crisis deepening in the global energy market, India on Monday unveiled a coordinated plan to support exporters and shippers caught in the fallout.
United States President Donald Trump on Friday withdrew the invitation extended to Canada to join the Board of Peace.
Seeking foreign loan had forced Pakistan to 'bow' its head and make compromises at the 'cost of self-respect', Prime Minister Shehbaz Sharif has said in a candid admission about the humiliation involved in approaching 'friendly countries' for financial aid.
There were apprehensions that additional secondary tariffs would have hit India in case the US decided to enforce them.
FPIs net sold equities worth Rs 1.7 trillion in 2025 -- the highest annual net sale on record.
India needs to come together to deal with the 50 per cent punitive US tariffs on Indian products and stand up to any kind of bullying, Maruti Suzuki India chairman R C Bhargava said on Thursday. "It is our duty as Indians to do our very best to promote and maintain our dignity and respect and not give in to any kind of bullying in this matter... the nation has to stand united," Bhargava said at the company's 44th Annaul General Meeting in New Delhi.
The USA's steep 50 per cent tariffs on Indian goods entering America will severely impact exports and job creation in labour-intensive export sectors such as shrimp, apparel, leather and gems and jewellery. Exporters said that the imposition of a 25 per cent penalty on India over and above the 25 per cent tariffs move will disrupt the flow of Indian goods to its largest export market.
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.
To shield against US President Donald Trump's tariff shock, analysts have been advising investors to focus on stocks of domestic-oriented companies, rather than export-centric ones, to minimise potential losses.
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.
Putin further described the Ukraine conflict as a mere "pretext" by Western powers to take these broader punitive measures against countries maintaining strong economic ties with Russia.
'The US reciprocal tariff has added another element of uncertainty and the central bank may prefer to wait and get further clarity.'
Equity benchmark indices Sensex and Nifty ended higher in highly volatile trade on Tuesday, buoyed by heavy buying in bank and metal stocks, a firm trend in global markets and optimism over India-EU FTA. The 30-share BSE Sensex climbed 319.78 points, or 0.39 per cent, to settle at 81,857.48.
From the 30-Sensex firms, Larsen & Toubro, Tech Mahindra, Tata Consultancy Services, Reliance Industries, Tata Steel, and Trent were among the biggest laggards. On the other hand, Eternal, ICICI Bank, Bajaj Finance, and Bharat Electronics were the gainers.
'India has the deciding vote in the 21st century...India is a significant player in the 21st century and is poised to become even more powerful.'
The additional 25 per cent duty will come into effect after 21 days or August 27.
Rahul Gandhi said that had an INDIA Bloc government negotiated the trade agreement with the US, it would have told US President Donald Trump that he should treat India as an equal.
A bewildered world is at a loss to find bilateral and multilateral measures to stop President Trump from pursuing his vision of a world unabashedly dominated by the United States, points out T P Sreenivasan.
The Swiss government would not object to tennis legend Roger Federer or FIFA President Gianni Infantino intervening to reduce the country's tariff burden after the US slapped a 39 percent import duty on its goods, President Karin Keller-Sutter said.
Congress leader Rahul Gandhi has accused Prime Minister Narendra Modi of being 'anti-farmer' and 'selling' the country through the India-US interim trade deal, vowing to stand strongly with farmers.
Real GDP growth surprised on the upside in 2025, but weaker nominal growth, trade uncertainty, and soft demand signal a bumpier road ahead.
If pharmaceutical exports from India to the US come under a 25 per cent tariff bracket, the impact on earnings before interest, tax, depreciation and amortisation (Ebitda) could be around 5 per cent, felt analysts. This is after assuming that about 75 per cent of the tariff would be passed on.
Several farmer organisations in India are protesting the proposed India-US trade deal, expressing concerns about its impact on the agriculture sector and demanding the resignation of the Commerce Minister.
India and the US have signed a framework agreement for defence cooperation for the next 10 years, enhancing their partnership and aiming for regional stability.
Equity benchmark indices Sensex and Nifty advanced for the third straight session on Tuesday driven by firm global cues and optimism over India-US trade agreement, even as investors turned to profit-booking at higher levels.
Prime Minister Narendra Modi stayed calm, avoided public confrontation, and focused on India's long-term interests to steady ties with the United States.
From the 30-Sensex firms, Eternal declined by 4.02 per cent, followed by Bajaj Finance (3.88 per cent), Sun Pharma, InterGlobe Aviation, Trent, Asian Paints, Mahindra & Mahindra and Bajaj Finserv. HDFC Bank emerged as the only gainer from the pack.
From the 30-Sensex firms, NTPC, ICICI Bank, Adani Ports, Bharti Airtel, Sun Pharma and Bajaj Finance were among the biggest laggards. However, Asian Paints, HCL Tech, Bharat Electronics and Reliance Industries were among the gainers.
The 50 per cent US tariff on Indian goods pose a downside risk to growth but the impact is expected to be short-lived for the economy, and consumption demand could see an uptick after the new goods and service tax (GST) rates are implemented which could even offset the external uncertainty, Chief Economic Advisor (CEA) V Anantha Nageswaran reckoned on Friday.
US President Donald Trump's announcement of 25 per cent tariff on all goods coming from India starting August 1, plus an unspecified penalty, is expected to impact Apple's plans to expand iPhone manufacturing in India as well as export of other electronics to the US. The move comes at a time when Indian electronics production is reeling under pressure due to restrictions imposed by China on supply of several critical components, capital goods and even skilled technology professionals.
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.
In the 15 Union Budget presentation days of the Narendra Modi government since it came to power in 2014, the BSE benchmark Sensex has ended in negative territory eight times.
Inflation data, trading activity of foreign investors and global trends would dictate sentiment in the stock market this week, according to analysts.
He added that India sells to the US, its biggest "client", "massive" amounts of goods, "but we sell them very little - Until now a totally one sided relationship, and it has been for many decades."
India's micro, small and medium enterprises (MSMEs) - which contribute over 45 per cent to outbound shipments - are facing a major disruption following the United States (US) decision to impose 50 per cent additional tariffs on the country's exports. MSME industry bodies have raised an alarm over the deep impact, seeking immediate government intervention.
President Trump threatens to impose a 10% tariff on countries aligning with BRICS anti-American policies. This follows BRICS criticism of increased tariffs. Trump also announced tariff letters to various countries.
MEA spokesperson Randhir Jaiswal said India's energy decisions are guided by national interest.
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