Amid strained relations with the US, Prime Minister Modi is set to engage with Brazil’s President Lula and visit China in August. As founding members of BRICS, India, Brazil, China and Russia have faced criticism from Trump.
President Trump’s imposition of a 50% tariff on Indian imports, allegedly due to oil purchases from Russia, has ignited a major dispute. India has strongly condemned the move, raising concerns about the future of the Quad alliance and potentially pushing India closer to China and Russia. This action risks unraveling years of strategic partnership and…
In response to the US’s increased tariffs on Indian goods, the government is considering targeted support for sectors like textiles and chemicals. The export promotion mission, with a budget of Rs 2,250 crore, may offer easy credit, overseas warehousing, and global branding to help exporters find new markets.
Despite increased tariffs on Indian imports, the US has temporarily exempted the pharmaceutical sector, recognizing India’s critical role in supplying affordable medicines. Pharmexcil emphasizes that tariffs on Indian pharma would harm American consumers, as Indian companies produce low-cost generics. India supplies over 40% of US generic medicines, maintaining high quality standards with numerous FDA-approved facilities.
In US, jobless claims saw a slight increase last week. The rise hints at employers retaining staff despite trade uncertainties. Initial claims reached 226,000, surpassing expectations. This data offers a glimpse into the job market after a weak July report. The four-week moving average provides a stable trend view. Continuing claims also jumped, reaching the…
Nayara Energy faces severe fuel supply disruptions as shipowners halt operations due to EU sanctions linked to its Russian ownership. This forces the company to seek government assistance for alternative shipping solutions to maintain fuel distribution to key Indian demand centers.
Reserve Bank of India forecasts a rise in India’s merchandise imports. Imports are expected to grow faster than exports in the coming financial years. This trade gap may impact India’s external balance. GDP is projected to grow steadily. Private consumption and capital formation are also expected to increase. Inflation is estimated to remain moderate initially,…
The Chamber of Trade and Industry (CTI) has expressed strong concerns over the US’s decision to impose a 25% additional tariff on Indian goods, escalating the total duty to 50%. CTI warns of significant repercussions for India’s export-oriented businesses, particularly in sectors like engineering, gems, textiles, and pharmaceuticals.
Donald Trump’s doubled tariffs on India, targeting its Russian oil trade, aim to pressure Putin on the Ukraine war. India faces a complex balancing act between maintaining ties with Russia and the US, its largest trading partner. While India may gradually reduce Russian oil dependency, a complete shift is unlikely due to economic and political…
Donald Trump has announced a 25% ‘secondary tariff’ on Indian goods, effective August 27, to penalize India’s oil purchases from Russia. This aims to pressure India to sever ties with Russia, similar to secondary sanctions. The US tracks oil tanker movements via satellite to monitor countries buying Russian oil.
