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.
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.
India's crude oil imports from Russia saw a marginal decline in September, but continued to account for over one-third of the country's total oil purchases, despite US pressure to curb the trade over concerns that it supports Moscow's war effort in Ukraine. India's crude imports in September were around 4.7 million barrels per day, up 220,000 bpd month-on-month and flat year-on-year.
Finance Minister Nirmala Sitharaman on Friday said the world is facing "profound imbalances" in trade and energy security, and is undergoing a structural transformation, with India standing out as a 'stabilising force' that can withstand external shocks.
The Trump administration has told the US Supreme Court that it imposed tariffs against India for purchasing Russian energy products as part of its strategy to address the war in Ukraine.
A court in Antwerp on Friday cleared the extradition of fugitive diamantaire Mehul Choksi, noting that his arrest by the Belgian authorities on India's request was valid, officials in the know of the development said.
Vance also hinted that the US may drop additional tariffs on countries if the US make a deal with Russia, and also apply more tariffs on the countries to bring this war to a close.
India's annual oil import bill could rise by $9-11 billion if the country is compelled to move away from Russian crude in response to US threats of additional tariffs or penalties on Indian exports, analysts said. India, the world's third-largest oil consumer and importer, has reaped significant benefits by swiftly substituting market-priced oil with discounted Russian crude following Western sanctions on Moscow after its invasion of Ukraine in February 2022.
While the new income tax law replaces the Income Tax Act, 1961 and omits 13 offences, 35 actions and omissions continue to attract criminal liability under 13 provisions.
'The heat shield technology for re-entry vehicles was first mastered in DRDO for the Agni missile.' 'This is why the Americans were so opposed to Agni in the 1980s, unlike other missiles -- it was a re-entry vehicle.'
Taking to social media platform X, Dmitriev said, "Russia confirms Putin-Trump summit may happen next week and summit preparations are ongoing. This can be a historic meeting. Dialogue will prevail."
'During the 5-day visit, Amir Khan Muttaqi would have, conceivably, bumped into our powerful security agencies one way or another and some interaction would have ensued, which, in turn, can lead to future dealings.' 'Indeed, this will be the one crucial template of the Indo-Afghan relationship that Pakistan will be monitoring closely,' points Ambassador M K Bhadrakumar.
India should simultaneously prioritise domestic exploration and production of more oil and gas in the country, and ensure we retain diversified suppliers for imports, points out former foreign secretary Ranjan Mathai.
Indian OMCs have not been buying Iranian or Venezuelan crude which is actually sanctioned by US. OMCs have always complied with the price cap of $60 for Russian oil recommended by the US.
'There are times when India should stand up without hesitation and voice its indignation over the US' pressure tactic. This is one such moment,' asserts Ambassador M K Bhadrakumar.
Capital investment by the private sector is likely to rise 21.5 per cent to Rs 2.67 lakh crore in 2025-26 aided by robust macroeconomic fundamentals, and a 100-bps policy rate cut, according to an RBI article. Despite global uncertainties, Indian firms entered the 2025-26 fiscal year with healthier balance sheets, higher cash buffer, improved profitability, and greater access to diversified funding sources, said the article 'Private Corporate Investment: Growth in 2024-25 and Outlook for 2025-26' published in the Reserve Bank of India's (RBI's) August bulletin.
Indian envoy Vinay Mohan Kwatra discussed fair, balanced and mutually beneficial trade ties with US lawmakers amid ongoing tariff tensions between New Delhi and Washington.
United States Deputy National Security Advisor Daleep Singh is the White House's anchorperson for economic sanctions against Russia.
Afghan Foreign Minister Amir Khan Muttaqi announced that Kabul will send diplomats to India as part of efforts to improve bilateral relations. He assured New Delhi that Afghan soil will not be used for activities detrimental to India's interests.
'No respite from economic pain is worth the loss of dignity and self-respect,' asserts former foreign secretary Shyam Saran.
The relations between New Delhi and Washington are on a downturn after Trump doubled tariffs on Indian goods to a whopping 50 per cent, including a 25 per cent additional duties for India's purchase of Russian crude oil.
Using an expletive in his post on X, Navarro said, "Fact: India didn't buy Russian oil in large quantities before Russia invaded Ukraine. It's blood money and people are dying."
Trump reiterated that he is not negotiating on behalf of Ukraine, but rather aiming to bring the parties to the negotiating table.
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.
Biden said the US will continue to escalate sanctions if Russia escalates.
Modi inaugurated the Semicon India 2025 in Delhi, in the presence of Chief Minister Rekha Gupta, and Union Minister of Commerce and Industry Jitin Prasada.
'Geopolitically and diplomatically it's a very difficult situation for India.'
'Things may get much worse before they get better,' predicts Ajay Chhibber.
Microsoft Corp has restored all services -- including email access -- to Russian oil giant Rosneft-backed Nayara Energy, just before a scheduled hearing in the Delhi high court over the service suspension.
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."
Among Sensex firms, Eternal, Infosys, Asian Paints, HDFC Bank, Bajaj Finserv and Titan were the major gainers. However, Tata Steel, Tech Mahindra, Adani Ports and Bharat Electronics were among the laggards.
India imports goods worth over Rs 1,200 crore from Turkey annually, including a significant share of fruits like apples.
'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.'
The statement did not name any country. But the US has often blamed India and China for purchasing Russian oil even when there are no tariffs on Beijing for it.
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.
Plans for big bang reforms in the GST regime by Diwali, the Putin-Trump summit and S&P upgrading India's sovereign credit rating are likely to instil optimism in the domestic equity market in the week ahead, analysts said. Besides, trends in global markets and the trading activity of foreign investors would also impact domestic investors' sentiment.
'Both initiatives are welcome moves and we would commit ourselves with focused attention aligned with the national priorities, and pursue our exploration initiatives.'
The RBI added roughly 3 tonnes in 2025, taking its gold reserves to 879 tonnes as of January 31, 2025.
'Indian refiners can operate without Russian crude from a technical standpoint, but the shift would involve major economic and strategic trade-offs'
United States President Donald Trump on Tuesday said India has not been a good trading partner and announced that he will raise the tariffs on New Delhi 'very substantially' over the next 24 hours because it is buying Russian oil.
