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New Delhi: Industry leaders welcomed the recently announced GST reforms, which reduce the number of tax slabs, stating that it will make tax compliance easier while also directly benefiting consumers through lower prices. Jharkhand Chamber of Commerce Joint Secretary Navjot Alang Rubal said that the reduction of the number of slabs from four to two under the new GST structure is a highly positive step. According to Rubal, this reform will greatly benefit the middle and lower-income groups as t ...Read More >
NEW DELHI, Sept 5 (Reuters) - India will continue to buy Russian oil as it proves economical, its finance minister said on Friday, despite the Trump administration's decision to impose heavy import tariffs on Indian goods due, in part, to its energy purchases from Moscow. As Europe and the U.S. have shunned Russian oil over Moscow's 2022 invasion of Ukraine, India has taken advantage of discounts on Russian output to become the largest buyer of Russian seaborne crude. New Delhi has said its pu ...Read More >
By Hritam Mukherjee and Nidhi Verma NEW DELHI (Reuters) -India will continue to buy Russian oil as it proves economical, its finance minister said on Friday, despite the Trump administration's decision to impose heavy import tariffs on Indian goods due, in part, to its energy purchases from Moscow. As Europe and the U.S. have shunned Russian oil over Moscow's 2022 invasion of Ukraine, India has taken advantage of discounts on Russian output to become the largest buyer of Russian seaborne crude ...Read More >
NEW DELHI (AP) -- German Foreign Minister Johann Wadephul urged India to press its close ally Russia to return to peace talks over the war in Ukraine, days after Indian Prime Minister Narendra Modi met Russian President Vladimir Putin at a regional summit in China. Wadephul told a news conference Wednesday that despite enormous efforts by Europe and the United States, Russia hasn't been willing to enter negotiations, a challenge New Delhi could possibly address. "The only demand is that weapon ...Read More >
NEW DELHI: India and Russia have reaffirmed their long -standing strategic partnership in the context of American pressure on India to limit Russian energy purchases, Prime Minister Narendra Modi told President Vladimir Putin on Monday that the two countries were kept side by side in the most difficult times. While the two leaders met on the sidelines of the Shanghai Cooperation Organization (SCO) in Tianjin, Modi said that he was eager to welcome Putin in India in December for an annual summit ...Read More >
WASHINGTON, Sept 1 (Reuters) - U.S. President Donald Trump said on Monday that India has offered to reduce its tariffs on U.S. goods to zero, even as Indian Prime Minister Narendra Modi was making public shows of solidarity with Chinese and Russian leaders in the face of trade pressure from Washington. While calling the U.S. relationship with India "one sided," Trump wrote on his Truth Social platform: "They have now offered to cut their Tariffs to nothing, but it's getting late. They should ha ...Read More >
NEW DELHI, Sept 1 (Reuters) - India is not "profiteering" from Russian oil imports and its purchases have stabilised markets while keeping prices from rising to as much as $200 a barrel, Hardeep Singh Puri, country's oil minister, said in the Hindu newspaper on Monday. The U.S. has targeted India for its Russian oil purchases, with President Donald Trump imposing tariffs on Indian exports to the U.S. to discourage the country's crude buying. Treasury Secretary Scott Bessent accused India of pr ...Read More >
Prime Minister Modi spoke with Ukrainian President Zelenskyy, discussing the ongoing conflict and potential paths to peace. Modi emphasized India's consistent stance that dialogue and diplomacy are the only solutions. He reiterated India's commitment to providing all possible support for a peaceful resolution and reaffirmed the nation's dedication to restoring peace. PM Modi on Saturday held a telephone conversation with Ukrainian President Volodymyr Zelenskyy, during which the two leaders disc ...Read More >
NEW DELHI: India and Russia reaffirmed their long-standing strategic partnership on Monday against the backdrop of US pressure on India to curb Russian energy purchases, with Prime Minister Narendra Modi telling President Vladimir Putin that the two countries have stood side by side in the most difficult times. As the two leaders met on the margins of the Shanghai Cooperation Organisation (SCO) Summit in Tianjin, Modi said he looked forward to welcoming Putin in India in December for an annual ...Read More >
WASHINGTON (Reuters) -U.S. President Donald Trump said on Monday that India has offered to reduce its tariffs on U.S. goods to zero, even as Indian Prime Minister Narendra Modi was making public shows of solidarity with Chinese and Russian leaders in the face of trade pressure from Washington. While calling the U.S. relationship with India "one sided," Trump wrote on his Truth Social platform: "They have now offered to cut their Tariffs to nothing, but it's getting late. They should have done s ...Read More >
(Bloomberg) -- Oil fell as traders looked past US efforts to force India to quit buying Russian crude, and broader markets carried a risk-off tone. Global benchmark Brent dropped below $68 a barrel, while West Texas Intermediate was near $64. White House trade adviser Peter Navarro stepped up the pressure on New Delhi to halt purchases of Russian energy after Washington doubled a levy on imports from the country to 50%. Calling Indians "arrogant," he cast the conflict in Ukraine as "Modi's war, ...Read More >
(Bloomberg) -- Oil fell as traders looked past US efforts to force India to quit buying Russian crude, and broader markets carried a risk-off tone. Global benchmark Brent dropped below $68 a barrel, while West Texas Intermediate was near $64. White House trade adviser Peter Navarro stepped up the pressure on New Delhi to halt purchases of Russian energy after Washington doubled a levy on imports from the country to 50%. Calling Indians "arrogant," he cast the conflict in Ukraine as "Modi's war, ...Read More >
New Delhi, Aug 28 (PTI) India's gains from importing discounted Russian oil are estimated to be just USD 2.5 billion per annum, significantly lower than the previously speculated range of USD 10-25 billion, a research report said on Thursday. Stopping Russian oil imports would force India, the world's third-largest oil importer and consumer, to rely on limited alternatives, potentially driving global crude prices up to USD 100 per barrel amid rising demand and tight supply. "Benefit from Russi ...Read More >
MUMBAI/NEW DELHI, Aug 26 (Reuters) - Indian exporters are bracing for disruptions after a U.S. Homeland Security notification confirmed Washington would impose an additional 25% tariff on all Indian-origin goods from Wednesday, ramping up trade pressure on the Asian nation. Indian exports will face U.S. duties of up to 50% - among the highest imposed by Washington - after President Donald Trump announced extra tariffs as punishment for New Delhi's purchases of Russian oil. The new duties will ...Read More >
India is welcome to export its products to Russia if it is facing trouble entering the US market, a senior Russian diplomat on Wednesday said. Addressing a press conference in the national capital, Russian Deputy Chief of Mission Roman Babushkin said the US' pressure on India over the latter's procurement of Russian crude oil was "unjustified" and "unilateral". "..If Indian goods are facing difficulties entering the US market, the Russian market is welcoming Indian exports....," he said. "The sa ...Read More >
New Delhi, Aug 21 (PTI) India is neither the biggest purchaser of Russian oil nor it has the biggest trade surge with Moscow after 2022, External Affairs Minister S Jaishankar said on Thursday, in what appears to be the first clear response by a top government functionary following the US slapping an additional 25 per cent tariff on Indian goods for buying Russian oil. Jaishankar made the remarks in response to a question at a joint media briefing with Russian Foreign Minister Sergey Lavrov. " ...Read More >
Indian goods face additional U.S. tariffs of up to 50%, among the highest imposed by Washington, due to New Delhi's increased purchases of Russian oil. Western countries boycotting Russian crude say India's purchases are helping to fund Moscow's war in Ukraine. But New Delhi says its purchases are purely commercial transactions, and accuses the U.S. and European Union of double standards, noting that they continue significant trade with Moscow themselves. "We have good results in cooperation i ...Read More >
India defends its right to purchase from the cheapest source, while strengthening ties with Russia and China. Russia expects India to continue buying its oil, a senior official said, even as the South Asian nation faces higher US tariffs and harsh criticism from Trump administration officials for the trade. India's imports of Russian crude are likely to stay at current levels, Evgeny Griva, the deputy trade representative of Russia in India, told reporters in New Delhi on Wednesday. The remark ...Read More >
NEW DELHI, Aug 20 (Reuters) - Russia will continue supplying oil to India and the country's President Vladimir Putin will meet India's Prime Minister Narendra Modi in New Delhi by the end of year, a Russian embassy official in India said on Wednesday. Russia has a "very, very special mechanism" to continue oil supplies to India, Roman Babushkin, the charge d'affaires at the Russian embassy in India, told reporters at a press briefing, adding that India's crude oil imports from Russia will remai ...Read More >
MUMBAI, Aug 14 (Reuters) - S&P Global Ratings on Thursday upgraded India's long-term sovereign credit rating to 'BBB' from 'BBB-', the first upgrade in 18 years, citing strong economic growth, improved monetary policy credibility, and sustained fiscal consolidation. Fitch has rated India at 'BBB-' since 2006 while Moody's has had a 'Baa3' rating in place since June 2020. The upgrade follows S&P's decision in May 2024 to revise India's outlook to positive from stable, driven by robust growth an ...Read More >
MUMBAI (Reuters) -S&P Global Ratings on Thursday upgraded India's long-term sovereign credit rating to 'BBB' from 'BBB-', the first upgrade in 18 years, citing strong economic growth, improved monetary policy credibility, and sustained fiscal consolidation. Fitch has rated India at 'BBB-' since 2006 while Moody's has had a 'Baa3' rating in place since June 2020. The upgrade follows S&P's decision in May 2024 to revise India's outlook to positive from stable, driven by robust growth and better ...Read More >
Donald Trump stated that US tariffs on India's Russian oil purchases have significantly impacted Russia's economy. He mentioned India as a major oil buyer from Russia. Trump claimed Russia's economy is struggling due to global pressures and US tariffs. He suggested that imposing tariffs on India, for buying Russian oil, was a major setback for Russia. President Donald Trump on Monday said American tariffs imposed on India for purchasing Russian oil have dealt a "big blow" to Moscow's economy, w ...Read More >
New Delhi [India], August 14 (ANI): The credit-to-deposit ratio in Indian banks has stayed below 80 per cent as credit offtake in the country continues to lag, according to a report by CareEdge Ratings. The report highlighted that while both credit offtake and deposit growth have increased sequentially, they remain significantly lower than the levels seen last year. Deposits continued to outpace credit offtake in the current fortnight, leading to a narrowing of the credit-deposit gap. It state ...Read More >
Shimla, Aug 14 (SocialNews.XYZ) Braving darkness, fast currents and unstable terrain, the Indian Army on Thursday said its swift response averted a potential tragedy when a sudden flash flood struck Hojis Lungpa Nala in Himachal Pradesh's mountainous Kinnaur district. The incident happened at around 7 p.m. on Wednesday. Triggered by a cloudburst in the higher reaches of the Rishi Dogri Valley, the deluge engulfed the bridge across the Sutlej River and injured one individual. The site was an ac ...Read More >
MUMBAI (Reuters) -The Indian rupee is expected to open largely unchanged on Thursday, holding on to the last session's unexpected recovery, with traders awaiting the outcome of a key meeting between U.S. President Donald Trump and Russian President Vladimir Putin. The 1-month non-deliverable forward indicated the rupee will open in the 87.44-87.46 range versus the U.S. dollar, flat from Wednesday's level of 87.44. The local currency had its best day in more than a month on Wednesday, thanks to ...Read More >
External Affairs Minister S Jaishankar is set to visit Moscow for talks with Sergey Lavrov, addressing trade, energy, and cooperation. Discussions will likely cover India's energy procurement from Russia, amid US tariff concerns, and preparations for President Putin's visit. The Ukraine conflict and the need for dialogue will also be on the agenda. External Affairs Minister S Jaishankar will travel to Moscow next week to hold crucial talks with his Russian counterpart Sergey Lavrov, amid some s ...Read More >
Hyderabad: North Telangana districts bore the brunt of heavy rains that disrupted normal life in many parts of the state on Wednesday. People in the northern districts were subject to harrowing times to reach their destinations due to the extensive damage to roads that was made worse by breaches across culverts and bridges on overflowing canals and water bodies. Meanwhile, flights were diverted at Shamshabad airport due to the heavy downpour in Greater Hyderabad limits. Hyderabad-bound flights ...Read More >
New Delhi: US President Donald Trump warned on Wednesday that there would be "very severe consequences" if Russian President Vladimir Putin does not agree to end the war in Ukraine during their upcoming summit on Friday. As per the media reports, according to French President Emmanuel Macron, Trump was "very clear" during a virtual meeting with European leaders that the US is aiming for a ceasefire at the forthcoming US-Russia summit, set to take place in Alaska. During the same meeting, Ukrai ...Read More >
New Delhi: New Delhi has put on hold its plans to procure new U.S. weapons and aircraft, according to three Indian officials familiar with the matter, in India's first concrete sign of discontent after tariffs imposed on its exports by President Donald Trump dragged ties to their lowest level in decades. India had been planning to send Defence Minister Rajnath Singh to Washington in the coming weeks for an announcement on some of the purchases, but that trip has been cancelled, two of the peopl ...Read More >
NEW DELHI - New Delhi has put on hold its plans to procure new US weapons and aircraft, according to three Indian officials familiar with the matter, in India's first concrete sign of discontent after tariffs imposed on its exports by President Donald Trump dragged ties to their lowest level in decades. India had been planning to send Defence Minister Rajnath Singh to Washington in the coming weeks for an announcement on some of the purchases, but that trip has been cancelled, two of the people ...Read More >
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