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.
'The US reciprocal tariff has added another element of uncertainty and the central bank may prefer to wait and get further clarity.'
'I certainly hope the two can avoid a trade war and believe they will.' 'I expect some in India will push for retaliatory tariffs if the Trump administration applies significant reciprocal tariffs.'
India-US relations, like Rome, were not built in a day, nor can they be demolished in a day.
All said and done, when the new global order emerges, India can only remain with the democracies, asserts Ambassador T P Sreenivasan.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
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.
'As long as Sebi maintains transparency and market stability, the Jane Street episode is unlikely to deter long-term foreign capital.'
'Militants are taking over the administration. Fundamentalists have been released from jail.'
The growing rift between MSIL and rival automakers has complicated the government's efforts to finalise the CAFE norms.
'Gen Z was devoid of love stories with sad endings like Heer Ranjha, Laila Majnu or Romeo Juliet; they have never seen something like this in their lifetime.' 'Saiyaara is a rooted love story.'
Mixed views were expressed by top economists on the Reserve Bank of India's (RBI) Monetary Policy Committee's (MPC) decision to hold the repo rate at 5.5% and maintain a neutral stance. While some say the decision was as expected and one more rate reduction is expected this fiscal, there is also a view that rate cut by MPC was warranted given the evolving global situation.
Amazon has shot off yet another letter to market regulator Sebi, accusing Future Retail of insider trading and called for an investigation as the US online retailer looks to ratchet up pressure against the Future-RIL deal. Future Group, however, vehemently denied the charges, saying these allegations were "Amazon's ill-motivated attempts to throw everything at the situation to stultify the transaction."
Among Sensex firms, Bajaj Finserv, Tata Steel, Sun Pharma, Tech Mahindra, Bajaj Finance, NTPC, Nestle, Tata Motors, Hindustan Unilever and Mahindra & Mahindra were the biggest gainers. IndusInd Bank, Kotak Mahindra Bank, Power Grid and ITC were among the laggards.
S&P Global Ratings on Tuesday upped India's GDP growth forecast for the current fiscal to 6.5 per cent, citing lower crude prices, monetary easing and normal monsoon, and said the ongoing geopolitical tensions are unlikely to put a "significant pressure" on the rupee or inflation.
President Droupadi Murmu addressed the nation on the eve of Independence Day, praising the response to terrorism, highlighting achievements in defense self-reliance, and emphasizing unity and progress.
'That way you're not hostage just to US sort of exports to India.'
Gold prices inched closer to the psychological mark of Rs 1 lakh per 10 grams as the bullion rates surged Rs 1,650 in the national capital on Monday on weak dollar and uncertainties over US-China trade war driving demand. According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity reached Rs 99,800 per 10 grams on Monday. Its value had declined Rs 20 to close at Rs 98,150 on Friday.
'We're witnessing a consistent surge in audience demand for IMAX screenings, particularly for high-octane, spectacle-driven films.'
Capital markets regulator Sebi has extended the suspension of futures and options trading in seven agricultural commodities, including wheat and moong, for one more year till December 2023 in a bid to rein in prices. The other agricultural commodities suspended by Sebi are -- paddy (non-basmati), chana, crude palm oil, mustard seeds and their derivatives and soya bean and its derivatives. "The suspension of trading in the above contracts has been extended for one more year beyond December 20, 2022, i.e. till December 20, 2023," Sebi said in a statement on Wednesday.
Former Jharkhand Chief Minister Shibu Soren, a towering figure in the state's tribal movement, was cremated with full state honors in his native village of Nemra. Thousands gathered to pay their respects to the 'Dishom Guru,' including political leaders and villagers.
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 expects partners to understand its policy of 'zero tolerance' against terrorism, and it will never countenance 'perpetrators of evil' being put on par with its victims, External Affairs Minister S Jaishankar said on Saturday during extensive talks with his British counterpart David Lammy.
India and Canada have agreed to restore High Commissioners to each other's capitals at an early date, the first in 'calibrated steps' to restore stability to the 'very important relationship', Foreign Secretary Vikram Misri said.
The Securities and Exchange Board of India (Sebi) is likely to notify soon stricter derivatives trading norms aimed at curbing speculative trading activity and curtailing losses of over Rs 50,000 crore incurred by retail investors every year. Based on the feedback received from industry participants, seven measures proposed by the market regulator in a consultation paper in July may be implemented with minor tweaks ahead of its forthcoming board meeting, said sources.
While most investors brush off NFOs like spam, some of them offer solid opportunities, especially when you know what to look for. So let's clear the confusion around NFOs and figure out when they're worth your money, and when they're not.
President Droupadi Murmu's address to the nation on the eve of the 79th Independence Day.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Prime Minister Narendra Modi has said relations between India and Canada are 'extremely important' and the two nations should work together to achieve win-win cooperation in various sectors.
Increasing cooperation in critical minerals will top Prime Minister Modi's agenda during his discussions with leaders of Ghana, Argentinia, Brazil and Namibia.
In his media statement following talks with his Croatian counterpart Andrej Plenkovic, Modi said both leaders agree that "terrorism is an enemy of humanity" and is inimical to forces that believe in democracy.
In a move that could have implications for market share dynamics, the Securities and Exchange Board of India (Sebi) has permitted the National Stock Exchange (NSE) and the BSE to alter the days for settlement of equity derivatives contracts.
Brokers believe that the higher charges may not completely deter investors from taking bets in F&O but could help cool down some activity, as the threshold to break even rises.
Radico Khaitan is the maker of award-winning single malt 'Rampur' and Jaisalmer Indian Craft Gin. Besides, it owns IMFL brands as 8 PM Whisky and Magic Moments Vodka.
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).
Modi's visit comes after days of intense conflict between India and Pakistan following Indian strikes in terror sites in the neighbouring country on May 7 under Operarion Sindoor.
Shares of BSE on Wednesday tumbled more than 9 per cent after its rival NSE said that all Nifty index weekly derivatives contracts will expire on Monday instead of Thursday with effect from April 4. The stock of BSE tanked 9.39 per cent to Rs 4,035.10 apiece on the National Stock Exchange (NSE).
By threatening to punish India with high tariff, Trump is actually planting a tantalising thought in the Indian mind that the Modi government should suitably 'incentivise' him, explains Ambassador M K Bhadrakumar.
India's Foreign Secretary Vikram Misri has underscored the importance of not equating the victims and perpetrators of terror attacks, highlighting the need for global unity in combating terrorism. Speaking at Raisina Tokyo 2025, Misri expressed appreciation for Japan's support following the recent terror attack in Pahalgam, India. He also cautioned against the trend of some Western countries hyphenating India and Pakistan in the context of their recent military confrontation. Misri further outlined India's economic aspirations and its commitment to becoming a factor of stability in a turbulent world.
The Kananaskis gathering on June 16-17 is the Prime Minister's 6th consecutive participation in the G7 Summit.
A statement issued by State Department Spokesperson Tammy Bruce said Landau "reaffirmed the United States' strong support of India in the fight against terrorism and the strategic partnership between the two countries".
