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US President Donald Trump has acknowledged that his decision to impose tariffs on India over its purchase of Russian oil has strained ties with New Delhi. "Look, India was their biggest customer. I put a 50 per cent tariff on India because they're buying oil from Russia. That's not an easy thing to do. That's a big deal and it causes a rift with India," Trump said in an interview with 'Fox and Friends' on Friday when asked what clamping down on Russian President Vladimir Putin involves. "But I ...Read More >
Congress leader Shashi Tharoor criticized US tariffs on Indian exports, saying 1.35 lakh jobs have been lost in gems, jewelry, seafood, and manufacturing sectors. He called President Trump "mercurial" and unfair for imposing additional penalties on Russian oil imports. Tharoor urged India to diversify export markets, strengthen ties with Europe, China, and Russia, and not rely solely on the US. Senior Congress leader Shashi Tharoor on Friday said the tariffs imposed by the US has impacted India ...Read More >
"We have seen the inaccurate and misleading statements made by Navarro, and obviously reject them," external affairs ministry spokesperson Randhir Jaiswal said during a meida briefing. The ministry of external affairs on Friday hit out at the "misleading statements" made by White House trade advisor Peter Navarro about India's purchase of Russian oil. "We have seen the inaccurate and misleading statements made by Navarro, and obviously reject them," external affairs ministry spokesperson Randh ...Read More >
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, Sep 5 (UNI) India today rejected the statements made by White House Trade Advisor Peter Navarro as ''inaccurate and misleading'' and hoped that relations with US would continue to move forward based on mutual respect and shared interests. ''We have seen inaccurate and misleading statements by Mr Navarro and obviously we reject them,'' External Affairs Ministry spokesman Randhir Jaiswal said at a press conference here. Mr Navarro has in several statements criticised India for buying ...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 >
Amidst US criticism over Russian oil imports, India's Oil Minister Hardeep Puri defended the country's energy strategy, arguing that it stabilises global markets and prevents price surges. Puri refuted claims of undermining sanctions, highlighting adherence to international rules and legal transactions. Amid continuing criticism of India by Trump and his officials over oil purchases from Russia, Oil minister Hardeep Puri on September 1 came up with a strong rebuttal, countering US rhetoric with ...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 >
Chennai: E-commerce shipments as well as parcels sent to relatives in the US will now be subjected to tariffs as the US has suspended the exemptions for smaller packages valued $800 or less. The suspension of tariff from Friday will have a six-month transition period to a new tariff regime. The tariff rates on small packages will be calculated in one of two ways starting August 29. As per the first option, a flat rate of $80 to $200 per item, depending on the country of origin, will be levied. ...Read More >
WASHINGTON/NEW DELHI, Aug 27 (Reuters) - U.S. President Donald Trump's doubling of tariffs on imports from India to as much as 50% took effect as scheduled on Wednesday, delivering a serious blow to ties between two powerful democracies that had in recent decades become strategic partners. A punitive 25% tariff, imposed due to India's purchases of Russian oil, was added to Trump's prior 25% tariff on many imports from the South Asian nation. It takes total duties as high as 50% for goods as var ...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 >
Mumbai, Aug 26 (PTI) The rupee depreciated 12 paise to close at 87.68 (provisional) against the US dollar on Tuesday, tracking weak domestic markets after the US issued a draft notice on plans to implement an additional 25 per cent tariff on Indian products. Forex traders said the rupee lost momentum as worries over the looming 25 per cent additional US tariff on Indian goods, set to take effect from August 27, drove strong dollar demand from importers. At the interbank foreign exchange market ...Read More >
WASHINGTON, Aug 22 (Reuters) - President Donald Trump said on Friday he would nominate Sergio Gor, one of his closest aides, to be the next U.S. ambassador to India, where he will oversee frosty relations that have worsened with the planned doubling of U.S. tariffs on India next week. Gor, who is currently the director of the White House Presidential Personnel Office, would also serve as a special envoy for South and Central Asian affairs. Trump said in a post on his Truth Social account that ...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 >
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 >
Mumbai: Leading cryptocurrency Bitcoin hit a record high of $124,210 on Thursday over increasing expectations for more lenient monetary policy from the US Federal Reserve. The development, coupled with supportive financial reforms, particularly under the pro-crypto stance of the US President Donald Trump's administration, boosted investor sentiment. The world's largest crypto asset by market capitalisation climbed over 0.9 per cent to $124,210, surpassing its previous peak in July. But as of 1 ...Read More >
New Delhi: Protest at the Aligarh Muslim University (AMU) against a recently announced fee hike, the long-standing suspension of students' union elections and calls for administrative accountability have entered their sixth day, with students boycotting classes and staging sit-ins at the Bab-e-Syed gate (the iconic entrance of the varsity). The fee structure for different courses has witnessed a sharp revision. Students say the hike ranges from 25% to over 60% across various programmes. Many cl ...Read More >
Mumbai, August 14: Leading cryptocurrency Bitcoin hit a record high of $124,210 on Thursday over increasing expectations for more lenient monetary policy from the US Federal Reserve. The development, coupled with supportive financial reforms, particularly under the pro-crypto stance of the US President Donald Trump's administration, boosted investor sentiment. The world's largest crypto asset by market capitalisation climbed over 0.9 per cent to $124,210, surpassing its previous peak in July. B ...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 >
Gold October futures prices at MCX have surged impressively by Rs 2,430 per 10 grams so far in August. However, they retreated slightly from their high today to trade at Rs 1,01,052 per 10 grams, down Rs 746 or 0.73% in intraday trade. Similarly, silver September contracts witnessed slight profit booking, trading lower by Rs 390 or 0.34% at Rs 1,14,491 per kg. On Friday, gold and silver settled on a positive note in both domestic and international markets. Gold October futures settled at Rs 1, ...Read More >
India's top 10 merchandise export destinations in 2024 list: Together, the top 10 countries notably make up 51% of India's total share of merchandise export percentage in 2023-24, with the US leading at 17.90%, India's top 10 merchandise export destinations in 2024: Amid rising global economic instability, marked by trade conflicts and tariff disputes, India's exports have reached USD 778.21 billion in 2023-24. It saw a historic rise of 67 per cent over the past decade (2013-14), according to ...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 >
New Delhi: Trump tariffs will not have any impact on India's growth, as it is not a trade-oriented economy, and its sovereign ratings outlook will continue to remain positive, S&P Global Ratings Director YeeFarn Phua said on Wednesday. In May last year, S&P had upgraded the outlook on India's sovereign rating of 'BBB-' to positive, citing robust economic growth. On August 6, US President Donald Trump announced an additional 25 per cent tariff on all Indian imports, on top of an existing 25 per ...Read More >
Narendra Modi may speak at the UNGA in September. The 80th session starts on September 9. Donald Trump will address the session on September 23. Modi is scheduled to speak on September 26. Trade talks between India and the US continue. Trump imposed tariffs on India. India says the tariffs are unjustified. The UNGA session will address global conflicts. Prime Minister Narendra Modi is likely to address the annual high-level session of the United Nations General Assembly (UNGA) in September, acc ...Read More >
Himachal Pradesh faced nature's fury. Bridges collapsed in Shimla, Lahaul, and Spiti. Cloudbursts and flash floods caused widespread damage. Over 300 roads closed, disrupting travel. A police post swept away, shops damaged. No casualties reported yet. Orange alert issued for more heavy rain. The state has suffered significant financial losses this monsoon. Many people have died in rain-related incidents. Several bridges were washed away in Shimla and Lahaul and Spiti districts, while over 300 r ...Read More >
New Delhi: Prime Minister Narendra Modi is likely to address the annual high-level session of the United Nations General Assembly (UNGA) in September, according to a provisional list of speakers issued by the United Nations. The 80th session of the UNGA will open on September 9. The high-level General Debate will run from September 23-29, with Brazil as the traditional first speaker of the session, followed by the US. US President Donald Trump will address world leaders from the iconic UNGA po ...Read More >
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