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 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.
In response to US criticism of India's oil imports from Russia, the Indian Army shared a 1971 news clip highlighting the US's role in arming Pakistan.
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.
Tata Motors on Friday reported a 62.2 per cent decline in consolidated net profit to Rs 4,003 crore in the June quarter, impacted by volume decline across segments, drop in JLR profits due to US tariffs and high base effect due to gain from sale of discontinued operations. The auto major had posted a consolidated net profit of Rs 10,587 crore in the April-June quarter of the previous fiscal, Tata Motors Ltd (TML) said in a regulatory filing.
'India did not surrender. That was why he wanted to pressurise India by this 25% tariffs.'
World soccer body hit with $76m claim by Frenchman Lassana Diarra in decade-long transfer rules case
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
One must wonder whether Mr Modi's efforts to wine and dine the Big Two of today's world were seen as a sign of weakness rather than a proffered arm of friendship, points out R Jagannathan.
'What India has done will surely embolden more countries to stand up to Trump.'
India's export of fuels like diesel to the European Union jumped 58 per cent in the first three quarters of 2024, with a bulk of them likely coming from refining discounted Russian oil, according to a monthly tracker report. The EU/G7 countries in December 2022 introduced a price cap and an embargo on the imports of Russian crude oil in a bid to cripple Kremlin's revenue and create a vacuum in its funding for the invasion of Ukraine.
'Due to tariff uncertainty, automotive customers reduced their steel uplift by almost 15 per cent.'
Apex exporters body FIEO on Tuesday expressed serious concerns over high US tariffs on Indian goods and said that textiles and apparel manufacturers in Tirupur, Noida, and Surat have halted production amid worsening cost competitiveness due to these steep duties. The US duties on Indian goods will increase to 50 per cent from August 27.
Talks on global climate finance virtually ground to a halt last week at COP29, the annual United Nations (UN) Climate Change event in Baku, Azerbaijan, as the developed world, led by the European Union (EU), and developing countries including India, Brazil, South Africa, and a clutch of island nations and African countries faced a wide chasm between their expectations. This has raised doubts about whether an agreement can be reached this week or whether talks will spill over to COP30, to be held next year in Benem, Brazil.
British Prime Minister Keir Starmer joined European allies in a video call to discuss the Ukraine conflict ahead of President Zelensky's visit to the White House for talks with President Trump.
On August 7, the US president announced doubling tariffs on Indian goods to 50 percent for India's purchases of Russian crude oil, but gave a 21-day window to negotiate an agreement.
'All professional players have been affected by these illegal rules (in force since 2001!) and can therefore now seek compensation for their losses.'
Analysts believe Tesla will first focus on building the Model Y brand before expanding -- both in terms of volume and models.
Iran on Sunday vowed to avenge the United States bombing of three of its major nuclear facilities saying the American strikes will have 'everlasting consequences'.
The USA's steep 50 per cent tariffs on Indian goods entering America will severely impact exports and job creation in labour-intensive export sectors such as shrimp, apparel, leather and gems and jewellery. Exporters said that the imposition of a 25 per cent penalty on India over and above the 25 per cent tariffs move will disrupt the flow of Indian goods to its largest export market.
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.
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.
'India is cosying up to Xi Jinping. They don't need the Russian oil. It's a refining profiteering scheme.'
'We need to be very vigilant as we are passing through some fraught times.'
The textile and apparel sector is India's second-largest employment provider, after agriculture, and it is now caught in a wave of uncertainty following the Donald Trump administration's tariff policy.
Siam argues that a 2040 ban could destabilise ongoing and future investments and threaten millions of jobs in the automotive value chain.
'We had very narrow negotiations that were quite useful.'
If pharmaceutical exports from India to the US come under a 25 per cent tariff bracket, the impact on earnings before interest, tax, depreciation and amortisation (Ebitda) could be around 5 per cent, felt analysts. This is after assuming that about 75 per cent of the tariff would be passed on.
'The biggest point of contention is market access for US agricultural and dairy products.'
Prime Minister Narendra Modi on Sunday conveyed to Iranian President Masoud Pezeshkian India's 'deep concern' over Iran's conflict with Israel and called for immediate de-escalation of the situation through 'dialogue and diplomacy'.
Trump has played throughout his career as a deal-maker who could deliver where others could not, and Ukraine represents the ultimate test of that image, notes Manish Dabhade.
Titan, HCL Tech and State Bank of India were also among the laggards. However, Hindustan Unilever, Asian Paints, ICICI Bank, Power Grid, HDFC Bank and ITC were the gainers.
The Indian pharmaceutical industry is likely to benefit from a major wave of patent expiries in the US, as small-molecule drugs worth $63.7 billion are expected to go off-patent between 2025-29, a 65 per cent rise over the previous five years, according to a report by Antique stock broking limited.
Gold prices are expected to witness further consolidation in the coming week as investors brace for a slew of events, ranging from central bank meetings, including the US Federal Open Market Committee (FOMC) meeting's outcome, to global trade negotiations, analysts said.
'The government is actively engaging with EU to ensure that concerns of Indian companies and hard-to-abate sectors are adequately addressed under CBAM'
India on Thursday signed a free trade agreement, officially dubbed as the Comprehensive Economic and Trade Agreement (CETA), with the UK - its 16th trade pact so far - as the country aims to boost bilateral trade and investments.
India's goods exports rebounded in July after two months of contraction, with outbound shipments rising 7.3 per cent to $37.24 billion, led by a surge in exports to the United States before the country's reciprocal tariff kicked in and bolstered by a recovery in exports to other key markets.
President Trump addresses questions about US imports from Russia and India's stance on purchasing Russian oil, hinting at potential tariffs.
The deal fell through over unresolved disagreements over contentious issues, mainly on agriculture and automotive sector tariffs.
'Trump is likely being purposefully vague, hoping that this lack of clarity will pressure India, fearing the worst, to agree to scale back its imports of Russian oil.'
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