Former White House trade advisor Peter Navarro accuses India of being an 'oil money laundromat' for Russia, alleging that India's oil purchases are funding Putin's war in Ukraine. The accusations come amid existing trade tensions and tariffs imposed by the US.
The rupee declined 22 paise to 87.41 against the US dollar in early trade on Thursday after the latest tariff announcements from the US weighed on emerging currencies, including the rupee. Forex traders said the latest tariff announcements from the US have sent shockwaves through global markets, strengthening the dollar.
Australia increased its student visa application fee from 1,600 to 2,000 Australian dollars. This is now the highest such visa fee in the world.
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."
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.
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.
The average Indian fraudster isn't an outsider exploiting security loopholes. He's usually a man between 26 and 45 years of age, working in operations or procurement, with more than six years at the organisation.
'Things may get much worse before they get better,' predicts Ajay Chhibber.
India's forex reserves dropped by $9.32 billion to $688.87 billion for the week ended August 1 in one of the highest declines in the recent past, the RBI data showed on Friday. The overall reserves rose by $2.7 billion to $698.19 billion in the previous reporting week.
Gor underlined that President Trump has a "deep friendship" with Prime Minister Narendra Modi, and that is something that is unique.
'The world now realises that semiconductors are not just important for national security, but also for economic prosperity.'
Who else will take on the might of Microsoft, Google, and Amazon if not the Adanis, Ambanis, Birlas, or Tatas?, asks R Jagannathan.
'However, we must implement a tit-for-tat approach -- reciprocating their conduct with precision.' 'If they demonstrate respect, we respond accordingly. If they adopt hostile positions, we mirror that hostility with equal intensity.'
The Trump administration is proposing to limit the duration of visas for foreign students and media personnel in the US, potentially impacting their ability to stay in the country.
'While the President has been critical of India, he has gone out of his way to compliment PM Modi. They have an incredible relationship.'
Glimpses from India and around the world that will make you smile and cry.
Information technology (IT) services major Infosys on Wednesday announced the formation of a joint venture (JV) with Telstra, Australia's leading telecommunications and technology company. This will allow Infosys to accelerate artificial intelligence (AI)-enabled cloud and digital solutions for Australian businesses.
India's forex reserves rose by $2.7 billion to $698.19 billion during the week ended July 25, the RBI said on Friday. In the previous reporting week, the overall reserves had dropped $1.183 billion to $695.489 billion.
'India has intentionally taken advantage of the war in Ukraine to dramatically increase its purchases of Russian crude, when there are roughly 40 major crude providers that could satisfy Indian demand.'
Foreign investors offloaded Indian equities worth nearly Rs 21,000 crore in the first half of August, pressured by US-India trade tensions, lacklustre first-quarter corporate earnings, and a weakening rupee.
Maaza, a desi mango fruit-based drink owned by Coca-Cola, has touched the milestone of becoming a billion-dollar brand in 2024, its Chairman and CEO James Quincey has said.
'The India-UK FTA is an enormous win for both the Indian consumer and the Scotch whisky industry. It will make whisky more affordable while expanding the Scotch market by about a billion dollars.'
Jane Street could do what they did because of the most fundamental flaw in the Indian stock market: a fragmented, fractured, fissured, fistula-ed liquidity stream, points out Shankar Sharma.
'What we see now is a much stronger need for data sovereignty.'
Japan is expected to increase its investment target in India from the earlier 5 trillion yen ($34 billion) to almost 10 trillion yen.
'If they can be duplicitous, we can be equally duplicitous.' 'If they offer friendship, we reciprocate.' 'If they choose hostility, we respond with equal hostility.'
The columnist said that Munir was reported as saying on stage at a Brussels gathering that: "God has made me protector of the country. I do not desire any position other than that."
'Scuttling 25 years of momentum with the only country that can serve as a counterweight to Chinese dominance in Asia would be a strategic disaster.'
India's forex kitty declined by $1.18 billion to $695.49 billion during the week ended July 18, the RBI said on Friday. In the previous reporting week, the overall kitty had dropped by $3.06 billion to $696.67 billion.
A day before US President Donald Trump's additional 25 per cent tariff kicks in, Prime Minister Narendra Modi on Tuesday made a vehement pitch for swadeshi and Make in India that should help create jobs in the country.
Notably, US President Donald Trump and his administration have continuously targeted India over its purchase of Russian crude oil. India, on the other hand, has always maintained that India's purchases are based on its domestic needs and economic security.
The 25 per cent US tariffs, plus a penalty for Russian imports, could dent India's GDP growth by 30 basis points in the current fiscal, but the higher duty is unlikely to significantly affect India's domestic demand-driven economy, Barclays said on Thursday. If the 25 per cent tariff, announced by US President Donald Trump on Wednesday, is implemented from August 1, the effective average US import tariff on Indian goods will rise to 20.6 per cent in trade-weighted terms, as per Barclays estimates.
'Geopolitically and diplomatically it's a very difficult situation for India.'
Among Sensex firms, Tata Steel, BEL, Adani Ports, Tata Consultancy Services, Tech Mahindra, Bharti Airtel, HCL Technologies, Trent, Mahindra & Mahindra, Reliance Industries, UltraTech Cement and Larsen & Toubro were the major gainers. However, Power Grid, HDFC Bank, ICICI Bank, Hindustan Unilever were among the laggards.
Unless Donald Trump takes a major U turn, this is possibly the beginning of the end for Trumpian politics, argues Colonel Anil A Athale (retd). Unless President Trump takes a major U turn, this is possibly the 'beginning of the end' for Trumpian politics driven by TV trp's, points out Colonel Anil A Athale (retd).
This translates into an annual return of 40 per cent, suggests a recent note by the World Gold Council.
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.
35,493 brides were killed in India between 2017 and 2022 -- averaging nearly 20 deaths a day -- over dowry demands, sometimes occurring even years after the wedding.
The Ambani family, headed by billionaire Mukesh Ambani, possesses a wealth of Rs 28 lakh crore, more than double that of the Adani family at Rs 14.01 lakh crore, a report said on Tuesday. The 300 most valuable Indian families have a wealth of over $1.6 trillion (over Rs 140 lakh crore), or more than 40 per cent of the country's GDP.
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