The steep 50 per cent tariffs imposed by the United States on Indian goods are largely a result of President Donald Trump's 'personal pique' at not being allowed to mediate in the India-Pakistan conflict, according to a recent report by American multinational investment bank and financial services company Jefferies.
Trump has approved sharing targeting data with Ukrainians as the administration weighs sending powerful weapons, the news outlet reported on Wednesday (local time).
Former US National Security Advisor John Bolton says President Trump's personal relationship with Prime Minister Modi has deteriorated, potentially pushing India closer to Russia and China.
'I look forward to speaking with my very good friend, Prime Minister Modi, in the upcoming weeks.'
Senior Congress leader Shashi Tharoor says US tariffs are negatively impacting India, leading to job losses, and criticizes President Trump's diplomatic behavior.
India's total purchase of oil from Russia in a month is probably less than what Europe does in an afternoon, External Affairs Minister S Jaishankar said.
India and Russia always stood "shoulder-to-shoulder" even in the most difficult situations, Prime Minister Narendra Modi told Russian President Vladimir Putin on Monday, against the backdrop of possibly the worst phase in New Delhi's ties with the US in over two decades.
Russian President Vladimir Putin is expected to visit India around December 5 to hold annual summit talks with Prime Minister Narendra Modi to further solidify bilateral strategic ties.
If India caves in to US pressure as Trump hopes it will, he will further try to blackmail it into submission, points out Ramesh Menon.
'While the President has been critical of India, he has gone out of his way to compliment PM Modi. They have an incredible relationship.'
'When negotiators meet next, they may like to bring new issues to the table.'
Who else will take on the might of Microsoft, Google, and Amazon if not the Adanis, Ambanis, Birlas, or Tatas?, asks R Jagannathan.
India should simultaneously prioritise domestic exploration and production of more oil and gas in the country, and ensure we retain diversified suppliers for imports, points out former foreign secretary Ranjan Mathai.
During a visit to the UK, former US President Donald Trump reiterated his claim of intervening to resolve a conflict between India and Pakistan, linking it to trade negotiations. He also discussed tariffs on India for buying Russian oil and the Russia-Ukraine conflict.
On President Putin's two-day trip to India, Jaishankar said for a "big" and "rising" country like India, it is important to maintain good cooperation with as many important players as possible in the world in line with freedom of choice.
Russia's state-owned oil firm Rosneft has agreed to supply up to 500,000 barrels per day (bpd) of crude oil to Indian upstream oil and gas major Reliance Industries (RIL) in the largest-ever energy deal between the two countries, Reuters reported on Thursday. The 10-year agreement amounts to 0.5 per cent of global oil supply and is valued at roughly $13 billion per year at current prices, it said.
'Given the lag in transmission, further softening of lending rates may happen in the coming months.'
Brent crude oil prices can touch $150 a barrel (bbl) - up a whopping 103 per cent from the current levels - in the worst-case scenario if the Israel-Iran geopolitical tensions escalate, suggest analysts.
US President Donald Trump expresses frustration with the lack of progress in trade talks with India, imposing a 25% tariff. The move comes amid concerns over trade deficits and India's reliance on Russian military equipment and energy.
United States President Donald Trump on Wednesday announced his upcoming diplomatic trip to Malaysia, South Korea, and Japan, highlighting a significant meeting with Chinese President Xi Jinping in South Korea.
Taking to social media platform X, Dmitriev said, "Russia confirms Putin-Trump summit may happen next week and summit preparations are ongoing. This can be a historic meeting. Dialogue will prevail."
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.
A resurgence in Saudi Arabian supplies of crude oil to India coupled with an attack on an Iraqi tanker in August carrying crude to Europe may result in improved bargaining power for India with West Asian and Russian suppliers for winter supplies. Shipments of Saudi oil rebounded in September from August, surging to the highest since March while Russian oil shipments rose marginally as Saudi Arabia tried to claw back market share in Asia, according to industry sources and ship tracking data.
Russian President Vladimir Putin will travel to India in December, Kremlin foreign policy aide Yuri Ushakov said. Putin will meet Prime Minister Narendra Modi on the sidelines of the Shanghai Cooperation Organisation (SCO) Summit in China's Tianjin city to discuss the preparations for his visit to India.
Rubio mentioned the recent conflict between India and Pakistan that President Donald Trump has repeatedly claimed he solved.
The additional 25 per cent tariff imposed by US President Donald Trump on India is set to deliver a major blow to West Bengal's export-driven economy, with the state's labour-intensive leather, engineering and marine sectors expecting losses ahead of the festive season, stakeholders said. The increased levies on Indian products for the country's purchases of Russian oil came into effect on Wednesday, bringing the total amount of tariff imposed on New Delhi to 50 per cent.
While both sides have announced the decision to restart talks for a trade deal, government officials said discussions are continuing virtually.
The additional 25 per cent duty will come into effect after 21 days or August 27.
Rubio voiced "appreciation" for New Delhi's continued engagement on bilateral issues, including trade, defence and energy.
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.
External Affairs Minister S Jaishankar will address the session on September 27
Among Sensex firms, Tech Mahindra, HCL Tech, Eternal, Axis Bank, Maruti, Tata Steel, HDFC Bank and Asian Paints were the gainers. However, Adani Ports, Trent, Tata Motors, Hindustan Unilever and NTPC were among the laggards.
'Pakistan is an ally who gives the US access.' 'If we have a presence there, it puts us that much closer to China and puts our assets closer to China and Iran.'
'Things may get much worse before they get better,' predicts Ajay Chhibber.
The Trump administration is proposing to limit the duration of visas for foreign students and media personnel in the US, potentially impacting their ability to stay in the country.
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.
'The US is strongly placed to expand its crude supplies to India.'
Ukraine's Ambassador to India Oleksandr Polishchuk asserted that Kyiv "will not give up and will not accept any territorial concessions" amid the ongoing Russia-Ukraine war. He also suggested Moscow has benefitted from trading with New Delhi.
The commerce ministry on Tuesday said the discussions with visiting US Chief Negotiator Brendan Lynch on the proposed bilateral trade agreement were positive and forward looking.
To those who ask, "Is all this really worth it? Why can't domestic demand fill the gap?", it is important to remind them that only 13 economies since the Second World War have grown at 7 per cent or more for 25 years -- like India needs to. They all had one thing in common: Strong export growth underpinned by strong global engagement, explains Sajjid Z Chinoy.
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