Iranian Foreign Minister Abbas Araghchi is in India for a BRICS foreign ministers' meeting, where discussions will focus on the escalating crisis in West Asia and its impact on global energy supply chains.
The escalating crisis in West Asia and its impact on the global energy supply chain are expected to dominate deliberations at a two-day meeting of BRICS foreign ministers to be hosted by India.
Iranian Deputy Foreign Minister Kazem Gharibabadi has urged India to take the lead in bringing peace to West Asia, highlighting the UAE's role in stalling BRICS consensus on the conflict. Gharibabadi also discussed a new framework with Oman for merchant vessels passing through the Strait of Hormuz.
India should not stay on the margins of this initiative. There should be a serious debate about what would be in India's best interests asserts former foreign secretary Shyam Saran.
JPMorgan has downgraded Indian equities to 'neutral' from 'overweight', citing elevated valuations, rising earnings risks, and limited exposure to next-generation technology like AI. The brokerage believes other emerging markets offer more attractive risk/reward propositions despite India's strong structural growth story.
There is record underperformance and under-ownership. Some of this is cyclical and will turn on its own. However, we also need to regain our growth credentials. For this, both the government and companies have a role to play, as do investors, points out Akash Prakash.
Chinese Foreign Minister Wang Yi has called on India and China to view each other as partners rather than rivals, emphasising the importance of cooperation for regional stability and development.
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.
Lavrov's comments came two days after Russia accused the US of attempting to prevent India and other countries from buying Russian oil, saying Washington was using a wide range of 'coercive' measures, including tariffs, sanctions and direct prohibitions.
External Affairs Minister S Jaishankar has called on Brazil, Russia, India, China, South Africa (BRICS) to defend the multilateral trading system amid increasing protectionism and tariff volatility during a meeting of the bloc's foreign ministers in New York on the sidelines of the United Nations General Assembly session.
Lavrov said that the US has set itself the objective of 'achieving economic domination', adding further to it that Americans want to control the routes to leading countries to provide its energy sources to them.
Brazilian President Luiz Inacio Lula da Silva on Wednesday (local time) issued a firm response to United States President Donald Trump's announcement of a 50 per cent tariff on Brazil by invoking the country's 'Economic Reciprocity Law', while asserting Brazil's sovereignty and rejecting 'any form of tutelage' in what he described as Trump's attempts to interfere in the country's internal judicial affairs.
Israel and the United States had a plan. Iran punched back. And now the Gulf is reeling, the world is beginning to feel the pain and, as on date, no one in Washington or Tel Aviv appears willing to admit that the punch has landed, notes Prem Panicker, continuing his must-read blog on the war in the Middle East.
There has never been a moment in India's history when it has been so adrift in the world, so confused about what it stands for and against and so humiliated, asserts Aakar Patel.
'No, India and China were not about to go to all-out war over a few rocks of Galwan.' 'The full picture of what went on at the highest level between two heads of State will not be known for a very, very long time and rightly so,' points out Colonel Anil A Athale, former head of the history division, ministry of defence.
United States President Donald Trump has backed a sanctions bill that could impose 500 per cent tariffs on countries buying Russian oil, giving the White House leverage against countries like China and India to stop them from purchasing cheap oil from Moscow.
Since June, India's ministry of external affairs has intensified its diplomatic calendar, hosting several heads of state and government, foreign ministers, and key trade delegations.
'The first time India has seen two consecutive blockbuster IPO years.'
The 2025 US National Security Strategy marks a major pullback, with America turning backward and effectively allowing China greater dominance in Asia. while long-time partners like India are left to face an increasingly unstable global order largely on their own, observes Rajeev Srinivasan.
Chief Economic Adviser V Anantha Nageswaran on Wednesday said that the country is not pursuing any proposal to replace the US dollar as international currency for global trade. "No, certainly not. I think India is not part of any such initiative," he said in response to a question if India is looking at an alternative currency to the US dollar for global trade.
The BRICS nations have expressed concern over the proliferation of trade-restrictive actions in the form of 'indiscriminate rising' of tariffs, particularly measures used as a means of 'coercion', cautioning that such practices risk marginalising the Global South countries.
The strong domestic flow offset selling by foreign portfolio investors who pulled out $23.3 billion (Rs 2.03 trillion) from domestic equity markets in CY25.
Democratic Senator Jeanne Shaheen's comments came amid a major downturn between New Delhi and Washington after US President Donald Trump doubled tariffs on Indian goods to a whopping 50 percent, including a 25 percent additional duties for India's purchase of Russian crude oil.
Former White House trade advisor Peter Navarro has criticised India for continuing to procure Russian oil, alleging profiteering and contributing to the Russia-Ukraine war. India defends its energy procurement as driven by national interest and market dynamics.
India has extended duty-free imports of urad for another year until March 31, 2026, according to a government notification. The provision was earlier in place until the end of March this year.
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.
'Geopolitically and diplomatically it's a very difficult situation for India.'
During a special briefing in Tianjin, Misri confirmed that the prime minister will first address the SCO plenary session before meeting President Putin.
China defended the BRICS economic alliance, stating it is not a bloc for confrontation, after former US President Donald Trump threatened tariffs on countries aligning with its 'anti-American policies'.
Gor underlined that President Trump has a "deep friendship" with Prime Minister Narendra Modi, and that is something that is unique.
Among Sensex firms, Tech Mahindra, HCL Tech, Eternal, Axis Bank, Maruti, Tata Steel, HDFC Bank and Asian Paints were the gainers. However, Adani Ports, Trent, Tata Motors, Hindustan Unilever and NTPC were among the laggards.
United States President Donald Trump has warned that countries aligning with the BRICS economic bloc will face additional 10 per cent tariffs on their goods, as he seeks to protect the dollar's global dominance.
'While the President has been critical of India, he has gone out of his way to compliment PM Modi. They have an incredible relationship.'
India would neither succumb to the Americans on issues of national security, such as its defence ties with Russia, nor cede ground on its domestic interests in the agriculture and dairy sectors.
Increasing cooperation in critical minerals will top Prime Minister Modi's agenda during his discussions with leaders of Ghana, Argentinia, Brazil and Namibia.
'Trump does have a master plan in mind to put pressure on India with the additional tariff of 25 per cent to get Modi to persuade Russian President Vladimir Putin to freeze the Ukraine war.' 'It has not worked so far. By end-September only we'll know for sure the future trajectory of India's oil purchases from Russia,' observes Ambassador M K Bhadrakumar.
Donald Trump's tariffs, meant as political punishment, have avoided the predicted chaos, lifting US growth, weakening rivals, and letting him claim victory in a resilient global economy, observes T T Ram Mohan.
'What the US appears to be doing is to force India to be "the buyer of last resort", on whom their products can be dumped, 1.4 billion people have to eat something, so why not eat American corn?' 'What is exercising the Trump lot is the fact that most of the farms are in solidly Republican Midwestern states: Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Wisconsin,' points out Rajeev Srinivasan.
On India, the chart showed that the country charged 52 per cent tariffs on the US "including currency manipulation and trade barriers," and America will now charge India "discounted reciprocal tariffs" of 26 per cent.
Promoters of India's top private listed companies have cut their stakes sharply since 2021, taking advantage of elevated valuations and reshaping ownership dynamics in the market. Holdings of promoters in the top 200 privately owned listed firms declined nearly 600 basis points (bps) to 37 per cent at the end of FY25, from 43 per cent in FY21.
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