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.
Former White House official John Bolton suggests that tariffs imposed on India by the US for purchasing Russian oil may have unintended consequences, potentially driving New Delhi closer to Beijing and Moscow.
States will remain "net gainers" of the proposed GST rate rationalisation exercise with their GST revenues, including devolution, estimated to be over Rs 14.10 lakh crore this fiscal, according to an SBI Research report released on Tuesday. It said that, as was evidenced in the earlier exercise of GST rate rationalisation in 2018 and 2019, an immediate reduction in rates can cause a short-term dip of around 3-4 per cent in month-on-month collections (roughly Rs 5,000 crore, or an annualised Rs 60,000 crore), revenues typically rebound with sustained growth of 5-6 per cent per month.
To shield against US President Donald Trump's tariff shock, analysts have been advising investors to focus on stocks of domestic-oriented companies, rather than export-centric ones, to minimise potential losses.
The additional 25 per cent duty will come into effect after 21 days or August 27.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
US Secretary of State Marco Rubio claims President Donald Trump was instrumental in bringing about the cessation of hostilities between India and Pakistan, a claim India has consistently denied.
'If the near-term economic pain is absorbed more by those who have the ability and the financial strength to do so, then small and medium enterprises in downstream industries will emerge stronger from the trade imbroglio.'
The BCCI invited bids for the Indian cricket team's title sponsorship rights after fantasy sports giants Dream11's pullout.
'Trump is not shy when he is frustrated with countries'
Bihar Chief Minister Nitish Kumar announced free power up to 125 units for all domestic consumers in the state, effective from August 1. The move, benefiting 1.67 crore households, comes ahead of the upcoming assembly polls and amid promises from opposition leaders.
Former White House trade advisor Peter Navarro has criticised India for continuing to procure Russian oil, alleging profiteering and contributing to the Russia-Ukraine war. India defends its energy procurement as driven by national interest and market dynamics.
BLA fighters reportedly took positions across the city, seizing control of the Levies and police stations, the deputy commissioner's office, a government guest house, and local bank branches.
'It is a process that takes a certain amount of time and needs to be done keeping legal modalities in mind.'
The GST Council on Wednesday approved a two-tier rate structure of 5 and 18 per cent, which will be implemented from September 22.
"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.
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.
Describing the India-United States relationship as 'very complicated', US Treasury Secretary Scott Bessent on Wednesday hoped that 'at the end of the day, we will come together.'
President Trump claims American tariffs imposed on India for purchasing Russian oil have negatively impacted Russia's economy, referring to India as Russia's major oil buyer. He also mentioned plans to meet with Putin and Zelenskyy, and claimed to have solved several wars, including the conflict between India and Pakistan.
The number of companies with promoters whose demat accounts were frozen by the stock exchanges due to non-compliance increased over the past year. The BSE froze promoter demat accounts in 457 companies, according to data from the Securities and Exchange Board of India's (Sebi's) 2024-25 annual report released on August 12.
Prime Minister Narendra Modi accused the Congress party of supporting terrorists groomed by Pakistan and protecting infiltrators during a rally in Assam. He also highlighted development projects undertaken by the BJP government in the state.
'It must become faceless, just as the entire direct tax assessment system has already become fully online, without any human intervention in the normal course,' recommends A K Bhattacharya.
Tata Steel, Maruti, Tata Motors, Infosys, Bharti Airtel and Tech Mahindra were also among the laggards. However, Trent, Asian Paints, Hindustan Unilever, ITC, Kotak Mahindra Bank, and Reliance Industries were the gainers.
'The kids are already used to this place. We go back and that's a different environment.' 'So, mentally, emotionally we are stressed.'
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."
The Bloomberg report suggests that this backchannel communication from President Xi has laid the groundwork for a broader thaw in relations. This overture has since translated into a series of tangible diplomatic actions leading up to the upcoming Shanghai Cooperation Organisation (SCO) summit.
Businesses are testing new markets, tapping into domestic demand, and pushing the government for relief.
United States President Donald Trump has said India is 'very close' to China in terms of its purchases of Russian oil and will pay tariffs of 50 per cent as he indicated that 'you are going to see so much secondary sanctions'.
China on Friday raised its additional tariffs on imports from the United States to 125 per cent in retaliation to the Trump administration's 145 per cent levies on Chinese exports.
The GST Council on Saturday clarified that guarantees provided by corporate to their subsidiaries will attract an 18 per cent GST, while no tax will be levied if a personal guarantee is given by a director to the company. The council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state ministers, also cut the GST rate on molasses to 5 per cent from 28 per cent. It also ceded the right to tax Extra Neutral Alcohol (raw product for making alcohol for human consumption) to the states.
'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.'
The appliance makers expect a good churn in the festive season, led by the government's proposal to reduce the GST slab on air-conditioners from the current 28 per cent to 18 per cent, which will reduce the price from Rs 1,500 to Rs 2,500 depending on the models.
Amid rising consumer complaints, the Central Consumer Protection Authority (CCPA) on Monday barred hotels and restaurants from levying service charge automatically or by default in food bills and allowed customers to file complaints in case of violation. The CCPA has issued guidelines for preventing unfair trade practices and violation of consumer rights with regard to levying of service charge. "No hotels or restaurants shall add service charge automatically or by default in the bill," CCPA chief commissioner said in the guideline.
'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 EC should not have let the initiative go into the hands of the political leadership. By allowing this to happen, they have opened a Pandora's box.'
FIFA boss Infantino also presented President Trump with the very first ticket to the tournament's grand finale.
India would neither succumb to the Americans on issues of national security, such as its defence ties with Russia, nor cede ground on its domestic interests in the agriculture and dairy sectors.
'If a charitable or religious trust sells a capital asset -- such as land, buildings, shares -- and makes a capital gain, it can avoid paying tax on that gain if it reinvests the proceeds in another capital asset for its charitable purposes.'
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.
