'If the near-term economic pain is absorbed more by those who have the ability and the financial strength to do so, then small and medium enterprises in downstream industries will emerge stronger from the trade imbroglio.'
India, the world's third largest oil consuming and importing nation, in July bought $2.8 billion worth of crude oil from Russia, second only to China which remains the largest importer of Russian oil, a report said. Russia emerged as India's biggest supplier of crude oil, which is converted into fuels like petrol and diesel in refineries, after Russian oil was available on discount following some European nations shunning purchases from Moscow over its 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.
Congress general secretary, communications, Jairam Ramesh said the G7 Summit of the presidents of the US and France; the prime ministers of the UK, Japan, Italy and Canada; and the Chancellor of Germany is taking place in Kananaskis in Alberta, Canada, from June 15.
The Russian foreign minister said the three countries only enjoy "prominence" in Moscow's foreign policy.
Reliance Industries' refining earnings will remain steady, supported by its position as India's largest importer of Russian crude and favourable global supplies, according to analysts at JM Financial and Goldman Sachs. Reliance imported more Russian barrels than any other Indian refiner in the past eight months, according to data from Bloomberg/Kpler.
The Israel Defence Forces (IDF) on Saturday issued a new graphic showing Kashmir as Indian territory, rectifying their previous mistake.
It said a small group of Khalistani extremists are continuing to use Canada as a base for fundraising and planning of violence primarily in India.
The United States has imposed sanctions on 275 individuals and entities, including 15 from India, for allegedly supporting Russia's military-industrial base.
Though he does not know what New Delhi is intending to do, Berlin would "welcome any engagement", he added.
'The logic every one of our neighbours must realise is that working with India will give you benefits, and not working with India has a cost.'
Russian Foreign Minister Sergey Lavrov has confirmed that President Vladimir Putin has accepted an invitation from Prime Minister Narendra Modi to visit India. The visit is currently being prepared, though the dates have not yet been revealed. This visit follows Prime Minister Modi's trip to Russia in July 2024, his first since 2019. The two leaders have maintained regular contact and have emphasized the strength of the Russian-Indian strategic partnership.
'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.
India's trade deficit with Russia continued to widen for the second consecutive year to $57 billion in the financial year 2023-24 (FY24), with Moscow becoming New Delhi's largest source of crude oil imports. All eyes will now be on Prime Minister Narendra Modi's visit to Russia during July 8-9, where he is set to meet President Vladimir Putin. This will be Modi's first visit to the Kremlin since the Russia-Ukraine conflict began over two years ago.
Among Sensex firms, Maruti zoomed the most by 8.94 per cent. Bajaj Finance rallied over 5 per cent, UltraTech Cement by 3.71 per cent, and Bajaj Finserv by 3.7 per cent. Mahindra & Mahindra, Hindustan Unilever and Trent were also among the gainers. However, ITC was the biggest loser, dropping by 1.26 per cent. Eternal, Tech Mahindra and Larsen & Toubro also declined.
'But that was not our aim. Our objective was already achieved.'
External Affairs Ministry spokesperson Randhir Jaiswal said India has a long-standing relationship with Russia which is based on "mutuality" of interests.
Glimpses from India and around the world that will make you smile and cry.
Pakistan's ambassador to Russia, Muhammad Khalid Jamali, has warned that Pakistan will respond with "full spectrum of force", including nuclear, if it is attacked or its vital water flow is disrupted. The warning comes amid heightened tensions between Pakistan and India following a terrorist attack in Jammu and Kashmir. Jamali also reiterated Pakistan's stance on the Indus Water Treaty, saying any attempt to stop or divert water flow would be considered an act of war. He urged de-escalation, emphasizing the potential danger given both countries possess nuclear weapons. Jamali further called for a neutral investigation into the Kashmir attack, suggesting the involvement of China and Russia. He also highlighted the need to address the root causes of the conflict, pointing to the unresolved Kashmir issue and its potential for resentment.
Twenty-six foreign leaders, including Vladimir Putin and Kim Jong Un, will attend China's V-Day commemorations on September 3. Japan has expressed concerns about the event's anti-Japanese overtones.
Dar also said Pakistan views Russia as an important player in the West, South and Central Asia, and strengthening mutually beneficial cooperation with Russia remains an important priority for Pakistan's foreign policy.
The prime minister also talked about increasing the trade volume and transforming the nature of economic ties and expressed concern over religious extremism and terrorism in its neighbourhood.
External Affairs Minister S Jaishankar has said the recent confrontation between India and Pakistan was not just a mere conflict between two neighbours, but it was about combating terrorism, which will eventually come back to haunt the West.
'We should watch -- in the near term -- for signs that the two have totally fallen out at a personal, political level.' 'Trump and Modi know how to be dealmakers, but they also know how to hold a grudge.'
'As one former Indian diplomat put it to me, Delhi has access to the White House, but Islamabad has access to Mar-a-Lago.'
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.
Fijian Prime Minister Sitiveni Rabuka discussed US tariffs on Indian goods with Prime Minister Narendra Modi, noting that "somebody is not very happy with you." The discussion occurred during Rabuka's visit to India to strengthen ties.
'...to build a consensus, not conflict or struggle.'
Boosting their military ties, India on Monday inked deals worth around $3 billion with Russia to procure 42 new Su-30 MKI combat aircraft and 71 Mi-17V5 medium-lift helicopters.
'Personalities are temporary, policies provide for stability.' 'With the former, when personalities change so does the nature of the relationship.' 'Policies and structures, on the other hand, are idiot-proof, as well as maverick-resistant,' explains Saisuresh Sivaswamy.
Benchmark BSE Sensex rallied 746 points to close above the 80,000 mark on Monday following buying in oil, auto and banking shares amid fresh foreign fund inflows. The 30-share Sensex jumped 746.29 points or 0.93 per cent to settle at 80,604.08 with 26 of its constituents ending higher.
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.
Russia on Tuesday agreed to India's demand to ensure early release and return to home of the Indian nationals working in the Russian military as support staff after Prime Minister Narendra Modi 'very strongly' raised the issue with President Vladimir Putin.
Uttar Pradesh's leading export hubs are reeling under the impact of a steep 50 per cent tariff imposed by the US on Indian imports, with exporters warning of job losses, stalled orders and shrinking market access. Industry leaders from Noida, Kanpur and Varanasi said the tariff has put years of painstaking market-building at risk, even as protests and demonstrations erupted in several districts last week.
World Champion D Gukesh went down to world's youngest-ever Grandmaster Abhimanyu Mishra of the US in the fifth round of the FIDE Grand Swiss.
The eighth edition of the India-Russia Joint Military Exercise 'INDRA-2016' -- with a focus on counter-terrorism operations in semi-mountainous and jungle terrain under United Nations Mandate -- is on in the Ussiriysk district in Vladivostok, Russia.
The Human-rated LVM3 vehicle, the Crew Escape System and the Crew Module and Service Module are all in final stages of testing and integration.
Glimpses from India and around the world that will make you smile and cry.
India's National Security Advisor Ajit Doval is expected to attend a major security meeting in Moscow next week, organized by Russia's Security Council. Doval is invited for the 13th international meeting of high representatives for security issues, taking place from May 27-29. The meeting, chaired by Sergei Shoigu, Secretary of the Security Council of the Russian Federation, will see participation from over 150 countries and international organizations. Pakistan's NSA, Lt Gen Asim Malik, is also expected to attend the meeting, leading to speculation of a possible face-to-face meeting between the two NSAs amidst heightened tensions between India and Pakistan following the Pahalgam attack and subsequent retaliatory actions.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances