India and Russia always stood "shoulder-to-shoulder" even in the most difficult situations, Prime Minister Narendra Modi told Russian President Vladimir Putin on Monday, against the backdrop of possibly the worst phase in New Delhi's ties with the US in over two decades.
The United States action of levying 25 per cent additional tariff on Indian goods is 'unfair, unjustified and unreasonable', India said on Wednesday in a firm reaction, signalling increasing tensions between the two strategic partners over New Delhi's energy ties with Moscow.
Among Sensex firms, Tata Steel jumped the most by 5.90 per cent. Titan, Mahindra & Mahindra, ITC, Eternal, State Bank of India, and Trent were among the other gainers. However, Infosys, NTPC, Hindustan Unilever, TCS, Adani Ports and Bharti Airtel were among the laggards.
New Delhi, while opting not to retaliate yet to the American tariffs, has in recent weeks sought to reinforce its friendship with Moscow, and recalibrate its ties with Beijing rather than surrender to Washington's diktats.
Indian Oil Corp, the nation's largest oil firm, will set up a Rs 10,000 crore (Rs 100 billion) nuclear power plant in association with Nuclear Power Corp of India Ltd.
While the economy will wait for a rate cut in December, the banking industry should be happy with the wave of liberalisation -- a big push for growth in bank credit, points out Tamal Bandyopadhyay.
Ratings firm Crisil said on Wednesday that the uncertainties surrounding the US tariffs might be a new hindrance to capital expenditure decisions in the current financial year. The additional 25 per cent tariff imposed by US President Donald Trump on India for its purchases of Russian oil came into effect on Wednesday, bringing the total amount of levies imposed on New Delhi to 50 per cent.
India's exports rose 6.7 per cent to $35.1 billion in August annually, while imports declined 10.12 per cent to $61.59 billion, according to government data released on Monday. Gold imports were down nearly 56 per cent in August, helping to trim merchandise trade deficit to $26.49 billion in August, as against $35.64 billion in the year-ago month.
'...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.'
Indication of a potential US Federal Reserve rate cut may trigger optimism in the domestic equity market, with investors' attention shifting to the looming deadline for additional US tariffs on Indian goods in a holiday-shortened week ahead, analysts said.
Indian manufacturing sector witnessed the fastest improvement in operating conditions in over 17 years in August, driven by an increased production efficiency and healthy demand conditions, a monthly report said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) rose from 59.1 in July to 59.3 in August, indicating the fastest improvement in operating conditions for 17-and-a-half years.
Among Sensex firms, Mahindra & Mahindra, Asian Paints, Infosys, Titan, Sun Pharma, Tata Consultancy Services, Tech Mahindra and Power Grid were the major laggards. However, Bajaj Finance, Eternal, UltraTech Cement and Reliance Industries were among the gainers.
Among Sensex shares, Sun Pharmaceutical, Tata Steel, Trent, Bajaj Finance, Mahindra & Mahindra, Bajaj Finserv, Reliance Industries, Axis Bank, Tech Mahindra, Adani Ports, Titan, BEL, and Larsen & Toubro were the major laggards. However, Hindustan Unilever, Maruti Suzuki India, ITC, Tata Consultancy Services and UltraTech Cement were the gainers.
'I look forward to speaking with my very good friend, Prime Minister Modi, in the upcoming weeks.'
"We are contributing about 18 per cent, which is more than the US where the contribution is expected to be much less -- about 11 per cent or something. We are doing very well and we will continue to improve further," RBI governor Sanjay Malhotra said, replying to a question on Trump's recent comments.
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.
Mukesh Kumar collected prize money of Rs. 1,62,000 while Rafick Ali and Yusuf Ali came joint second.
Indian Oil and Indian Airlines scored big victories over Air India and Pakistan International Airlines in the Ranjit Singh hockey tournament.
The US House Foreign Affairs Committee Democrats stated that imposing tariffs on India will not deter Russian President Vladimir Putin or address Russia's invasion of Ukraine.
An Indian commerce ministry team will soon visit Washington for another round of talks on the proposed trade agreement with the US to iron out differences in sectors, like agriculture and automobiles, a government official said on Thursday.
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.
GST 2.0 may cushion consumers against US tariffs, but like the 2019 corporate tax cut, it risks being another tactical fix rather than a structural growth strategy, expects Debashis Basu.
'There is definitely tepid demand because of the (reciprocal tariff) uncertainty.'
The GST Council on Wednesday approved a two-tier rate structure of 5 and 18 per cent, which will be implemented from September 22.
Discarded India goalkeeper Baljit Singh stood out with a man-of-the-match performance as Indian Oil won the Coal India 116th All India Beighton Cup Hockey tournament after a 2-0 victory over ONGC in Kolkata on Friday.
Equity markets this week would keenly track the upcoming GST Council meeting, macroeconomic data announcements and trading activity of foreign investors for further movement, analysts said. Moreover, developments related to tariff negotiations, global market trends and auto sales data would also drive investors' sentiment.
Former US National Security Advisor John Bolton says President Trump's personal relationship with Prime Minister Modi has deteriorated, potentially pushing India closer to Russia and China.
'The E20 usage accrues the huge benefit to the nation, to the society, to the farmer, to the environment, to the exchequer and all of us'
Among Sensex firms, Bharat Electronics, Eternal, Mahindra & Mahindra, Kotak Mahindra Bank, Tata Motors and Power Grid were the gainers. However, Adani Ports, ITC, UltraTech Cement and Titan were among the laggards.
Bolton slammed Trump's tariff policy, asserting that it has "shredded" decades of Western efforts to align India away from its Cold War ties with the then Soviet Union (Russia) and address the growing threat from China.
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.
Wang is travelling to India days ahead of Prime Minister Narendra Modi's planned trip to the Chinese city of Tianjin to attend the annual summit of the Shanghai Cooperation Organisation.
US strikes on Iran's three main nuclear facilities have once again raised concerns that Tehran might shut down the Strait of Hormuz - one of the world's most critical chokepoints, through which a fifth of global oil and gas supply flows.
Captain Deepak Thakur's brilliant hat-trick helped Indian Oil Corporation (IOC) rally brilliantly and beat Karnataka XI 4-3 in a quarter-final match of the DCB Presents Aga Khan hockey tournament - 2011, at the Bombay Gymkhana ground, in Mumbai, on Tuesday.
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's purchase of US crude oil has picked up in 2025 and could easily double their previous levels, government officials said on Wednesday. The surge comes in the wake of the then-incoming Donald Trump administration's announcement that it would consider hiking tariffs on a reciprocal basis, and pushed some countries, especially those with large trade surpluses with the US, to buy more of its energy.
Communication channels between India and the US are open to resolve the ongoing tariff issues, and the glitch in trade ties is only temporary, given the long-term relationship between the two nations, government sources said on Wednesday. The US' 50 per cent tariffs on Indian exports to America came into effect from August 27, barring a few sectors.
United States Treasury Secretary Scott Bessent has warned that the secondary tariffs on India could go up if 'things don't go well' during talks between President Donald Trump and Russian President Vladimir Putin in Alaska on Friday.
The deal fell through over unresolved disagreements over contentious issues, mainly on agriculture and automotive sector tariffs.
Prime Minister Narendra Modi has described sports as an essential aspect of India's journey towards becoming a developed nation, saying that the new National Sports Policy will ensure a sporting growth that covers the farthest school to the elite Olympics.
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