'India is cosying up to Xi Jinping. They don't need the Russian oil. It's a refining profiteering scheme.'
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Rising for the sixth consecutive session, gold prices rallied Rs 1,000 to hit yet another record high of Rs 105,670 per 10 grams in the national capital on Monday, lifted by expectations of a rate cut by the US Federal Reserve this month and robust demand in overseas markets.
India is aiming to become a global hub for green hydrogen exports, eyeing nearly 10 per cent of the worldwide demand by 2030, Union Minister Shripad Yesso Naik said on Tuesday. Addressing FICCI Green Hydrogen Summit 2025, the minister said 8.62 lakh tonne annual hydrogen production capacity has been awarded to 19 companies.
India's economy could reach $20.7 trillion in terms of purchasing power parity (PPP) by 2030 and may emerge as the second-largest economy by 2038 with $34.2 trillion GDP, an EY report said on Wednesday. The report also said that with appropriate countermeasures, India can limit the adverse impact of higher US tariffs on selected Indian imports to about 10 basis points of real GDP growth.
'In case a particular industry has not passed on the benefits and if we receive complaints, we will take up the matter with the industry body concerned.'
'America is adopting the typical 'my way or the highway'/'Either you are with us or against us' stance.' 'This is a policy India is not going to accept.'
Any industrial policy is only as good as how it is applied and the other reforms that support it. This was as true 40 years ago as it is now, points out Debashis Basu.
A US official has stated that India's continued purchase of Russian oil is a point of contention in the relationship between the two countries, as it helps fund Russia's war efforts in Ukraine.
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.
The government has no say in where the country's refiners source oil from because these are commercial transactions.
"I understood tariffs better than any human being in the world. And now with my tariffs, they were all dropping them. India was the most highly tariffed nation... And you know what, they've offered me no tariffs in India anymore. No tariffs," Trump said.
'The background for the Saudi-Pakistan agreement is the fact that the regional security order has collapsed due to the Israeli attack on Doha.' 'The Americans have largely abandoned their security guarantee for West Asia and the region has no choice but to look at alternatives.'
The defence minister also announced that India has taken up the challenge of developing a powerful indigenous aero-engine, adding that preparations for this critical project are now almost complete and the work will soon be visible.
From just 0.2 per cent before the Russia-Ukraine war to now accounting for 35-40 per cent of total crude imports, India's reliance on Russian oil has surged -- drawing fresh scrutiny with US President Donald Trump announcing a penalty on top of a 25 per cent tariff, or tax, on all goods going to the US.
India's purchase of Russian oil has risen to 2 million barrels per day in August, as refiners continue to prioritise economic considerations in their sourcing decisions. As much as 38 per cent out of an estimated 5.2 million barrels per day of crude oil imported in the first half of August came from Russia, according to global real-time data and analytics provider Kpler.
Miller said that US President Donald Trump has a 'tremendous' relationship with Prime Minister Narendra Modi, and that the peace options for the region are on the table.
Investor sentiment across Asian markets has shifted sharply in August, reveals the latest Bank of America (BofA) Fund Manager Survey, which found global growth expectations retreating after three months of improvement.
US President Donald Trump announced a deal with Pakistan to develop its oil reserves, suggesting Pakistan might sell oil to India in the future.
Equity markets this week will turn their focus on the RBI's interest rate decision, Q1 earnings from several blue-chip firms and tariff-related news for further cues, analysts said. Moreover, trading activity of foreign investors and trends in global equity markets will also drive 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.'
A US lawmaker and former officials warn that President Trump's policies are damaging the strategic partnership between the United States and India, potentially driving India closer to China and Russia.
'India did not surrender. That was why he wanted to pressurise India by this 25% tariffs.'
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.
'New Delhi is not naive about its foreign policy choices.'
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'If you align your ambition with India's rise, the peak of your careers will unfold alongside the peak of India's power.'
India needs Goods and Services Tax (GST) Council-like common platforms between states and the Centre in areas such as land clearances, power, and water to fast-track infrastructure projects to achieve double-digit growth going ahead, said Praveer Sinha, chief executive officer and managing director of The Tata Power Company.
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.
'...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.'
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.
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'.
With the regulatory approval from the US Department of Energy in its kitty, Indian multinational conglomerate L&T is planning to focus on manufacturing small modular reactors (SMRs) to play a leading role in the commercialisation of nuclear energy in India.
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 25 per cent additional duties for India's purchase of Russian crude oil.
Congress general secretary Jairam Ramesh said Modi should take inspiration from former prime minister Indira Gandhi and stand up to the president of the United States.
'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.'
The Congress on Tuesday distanced itself from party MP Shashi Tharoor's remarks in an article in which he stated that Prime Minister Narendra Modi's energy, dynamism and willingness to engage remained a 'prime asset' for India on the global stage.
The deal fell through over unresolved disagreements over contentious issues, mainly on agriculture and automotive sector tariffs.
Senior Congress leader Shashi Tharoor on Tuesday said his article on Operation Sindoor's global outreach was not a sign of his 'leaping to join' Prime Minister Narendra Modi's party but a statement of national unity, interest and standing up for India.
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