Private-sector oil refiner Reliance Industries Limited (RIL) last week received a general licence from the United States (US) government to buy Venezuelan oil, an industry executive said.
India's exports rose 6.7 per cent to $35.1 billion in August annually, while imports declined 10.12 per cent to $61.59 billion, according to government data released on Monday. Gold imports were down nearly 56 per cent in August, helping to trim merchandise trade deficit to $26.49 billion in August, as against $35.64 billion in the year-ago month.
The question is no longer whether the war will expand. It has. The next few days will tell us whether the war stabilises around Hormuz or whether the Strait itself becomes the trigger for a far larger rupture. What to watch for over the next 48 hours is simple: Any move by the US toward direct naval control of the Strait; any credible Iranian attempt to disrupt or mine shipping lanes and, critically, whether energy infrastructure in the Gulf continues to be targeted.If those lines are crossed in tandem, the war will no longer be containable within the region.
An Indian AI Research Organisation official says India has adopted a balanced and pragmatic approach to AI regulation, avoiding the extremes of the US and EU models.
Karnataka is prioritizing the AVGC sector in its AI-driven creative economy, emphasizing IP creation, responsible AI adoption, and large-scale skilling, according to Minister Priyank Kharge.
The Central Board of Indirect Taxes and Customs (CBIC) announced the implementation of the Eligible Manufacturer Importers (EMI) scheme from April 1, allowing eligible importers to defer customs duty payments.
New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. Tariffs on some agricultural products that are not traditionally considered sensitive will be brought down to zero, while in the case of relatively sensitive items, duties will be reduced in a graded manner and quotas will be imposed.
Jaguar Land Rover will begin assembling premium cars at its new Tamil Nadu plant on February 9, marking a step towards full-scale luxury car manufacturing in India.
India and the European Union are set to announce on January 27 the conclusion of negotiations and finalisation of a free trade agreement, which is aimed at boosting economic ties between the two regions amid disruptions in global trade due to US tariffs, an official said.
India will restrict crude oil purchases from Russia as part of an agreement reached with the US in exchange for lower trade tariffs, sources said, adding imports will continue for now by refiners such as Nayara Energy, which have no other alternative source. US President Donald Trump announced overnight that the United States will cut the reciprocal tariff on imports of Indian goods to 18 per cent from 25 per cent under a broader bilateral understanding.
'Strikes into the Gulf countries are proof that the security guarantees offered by the US are ineffective and that the Gulf countries cannot rely on American security assurances for their safety.'
A new study reveals that green hydrogen's potential as a sustainable fuel is contingent on the rapid decarbonisation of energy grids worldwide.
Opposition parties are demanding a full Parliament discussion on the West Asia conflict, criticising the government's silence and calling for a contingency plan to protect India's energy security and citizens.
India is well-stocked with inventories of crude oil and key petroleum products, including petrol, diesel, and aviation turbine fuel (ATF), to deal with short-term disruptions as the war intensifies in West Asia, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Tuesday.
The Indian government has directed oil refineries to increase LPG production to ensure a stable supply of domestic cooking gas, amidst concerns over potential disruptions from the escalating Middle East conflict and its impact on imports.
European wines are set to enter the Indian market at lower prices under the bilateral free trade agreement as India will provide import duty concessions under the pact, an official said. Under the pact, the duty on EU wines would fall from 150 per cent to 20 per cent (for expensive ones).
AICC President Mallikarjun Kharge criticised Prime Minister Narendra Modi's relationship with US President Donald Trump, alleging that Modi is acting as Trump's 'slave' and jeopardising India's interests on trade, oil and foreign policy.
Import duty cuts on labour-intensive sectors such as textiles and footwear, as well as cars, and wines, are likely to be part of the free trade agreement between India and the 27-nation bloc European Union (EU), the conclusion of which is set to be announced on January 27 here, sources said.
For decades, multinational pharmaceutical companies and Indian drugmakers worked in ways that supported each other: MNCs brought innovation and brands, while Indian companies built scale through generics and cost efficiency. There was an important overlap - generic drugs - but this is shrinking fast. And the consequences are reshaping India's gigantic pharmaceutical market.
The rupee, which was the worst performing Asian currency in 2025 and also in January, was the best performing Asian currency on Tuesday.
Almost 30 per cent of Maruti's auto-component exports are to the US, and about half of that is facing a duty of 25 per cent and the other half 50 per cent.
Domestic equities surged on Tuesday, posting their best single-day gains in more than eight months after a long-awaited trade deal between India and the US. The deal, which lowered tariffs on Indian goods to 18 per cent from 50 per cent, significantly improved investor sentiment and lifted a key overhang for the market.
The Union Cabinet headed by Prime Minister Narendra Modi on Sunday approved the Union Budget 2026-27.
Highlights of the Economic Survey 2025-26
US and India will promptly implement this framework and work towards finalising the interim agreement with a view to concluding a mutually beneficial bilateral trade agreement.
Maruti Suzuki sold more cars than ever before, earned more money, and saw many first-time buyers choosing small cars again.
Actress Tamannaah Bhatia has been appointed as the brand ambassador for Karnataka Soaps and Detergents Limited (KSDL), the makers of Mysore Sandal Soap, sparking controversy over the choice of a non-Kannada speaking actor. The government defends the decision as a business strategy to boost sales outside Karnataka.
Benchmark lending rates unchanged with repo rate at 5.25%
The government on Wednesday launched Rs 4,531 crore market access support (MAS) intervention scheme for a six-year period (FY26-31) to improve global reach, visibility and competitiveness of Indian exporters through 'structured and outcome-oriented' interventions.
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.
Rising automobile exports are reflective of the increasing acceptance of India-manufactured vehicles across global markets, according to Economic Survey 2025-26.
A 500 per cent tariff would effectively shut out India's goods and services exports to the US.
A strong third-quarter (October-December/Q3) performance for 2025-26 (FY26) has helped the stock of India's largest listed pharmaceutical (pharma) company, Sun Pharmaceutical Industries, gain about 7 per cent since the start of February.
The rapid development of artificial intelligence (AI) globally presents significant opportunities for Indian companies and will not adversely impact their businesses, Nasscom AI head Ankit Bose said on Tuesday.
Prime Minister Narendra Modi inaugurated Micron Technology's semiconductor plant in Sanand, Gujarat, highlighting India's growing presence in the hardware sector and its strong partnership with the United States in AI and chip technologies.
India has fully protected its sensitive sectors like dairy, rice, wheat, pulses, tea, genetically modified (GM) goods, and coffee by not granting any import duty concessions to the European Union (EU) under the bilateral free trade agreement, according to the Commerce Ministry.
Both countries commit to provide each other preferential market access in sectors of respective interest on a sustained basis
'It is too early to conclude that there will be a bloodbath, that there will be no jobs, and that there will be civil unrest.' 'Let's calm down.' 'AI is a tool, it is not a weapon, it is not a virus.'
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.
Sitharaman in her budget speech said that the customs proposal "aim to further simplify the tariff structure, support domestic manufacturing, promote export competitiveness, and correct inversion in duty".
