Tag: India

U.S. President Donald Trump said on Wednesday that Indian Prime Minister Narendra Modi has pledged to stop buying oil from Russia, and Trump said he would next try to get China to do the same as Washington intensifies efforts to cut off Moscow’s energy revenues.

Their families were frantically sending “all kinds of articles on the H-1B situation”, said Singh, an Indian biotech professional on work travel to the U.S., adding that the “anxiety was apparent.”

U.S. President Donald Trump urged EU officials on Tuesday to hit China with tariffs of up to 100% as part of a strategy to pressure Russian President Vladimir Putin, according to a U.S. official and an EU diplomat.

India’s economy grew at a faster than-expected annual rate of 7.8% in the quarter ended June, owing to a strong performance of the manufacturing, construction sector and service sectors.

Russian oil exports to India are set to rise in September, traders said, as producers cut prices to sell more crude because they cannot process as much in refineries that were damaged by Ukrainian drone attacks on energy infrastructure.

U.S. President Donald Trump’s doubling of tariffs on imports from India to as much as 50% took effect as scheduled on Wednesday, dealing a serious blow to ties between the two countries that became strategic partners after the turn of this century.

White House trade advisor Peter Navarro warned India about “cozying up” to Russia and China through oil purchases in an op-ed published Monday in the Financial Times.

Japan is unlikely to secure a trade deal with the U.S. and tariffs on its goods could soar after President Donald Trump called the nation “spoiled” and reiterated his July 9 deadline for negotiations.

India is set to impose a temporary tariff, known locally as safeguard duty, of 12% on steel imports, said a government source with direct knowledge of the matter, to try and curb a surge in cheap imports from China and elsewhere.

India is open to cutting tariffs on more than half of U.S. imports worth $23 billion in the first phase of a trade deal the two nations are negotiating, two government sources said, the biggest cut in years, aimed at fending off reciprocal tariffs.

Indian Prime Minister Narendra Modi’s government has decided to let lapse a $23 billion program to incentivize domestic manufacturing, just four years after it launched the effort to woo firms away from China, according to four government officials.

Jaguar Land Rover’s Indian parent reported a lower-than-expected quarterly profit as a broader consumption slowdown in its home market hurt sales of cars as well as commercial vehicles.

India’s central bank expectedly kept the benchmark interest rate unchanged at 6.50% on Friday as it struggles to contain rising inflation without hurting growth in Asia’s third-largest economy.

India’s economic growth decelerated to its slowest rate in seven quarters, data showed on Friday, reflecting lower consumption amid high food inflation and a rise in consumer credit.

The International Monetary Fund has upgraded its economic forecast for India for 2024, while warning that growth will dip in the following year.

Indian stocks sank Tuesday as Prime Minister Narendra Modi and the ruling Bharatiya Janata Party struggled to hang on to a majority based on early results Tuesday.

The International Monetary Fund raised its 2023 growth forecast for India by 20 basis points to 6.1%, bolstering expectations that the current G20 chair will be the world’s fastest growing major economy this year.

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The U.S. and India are set to announce a slew of defense and technology collaborations on Thursday during Prime Minister Narendra Modi’s state visit, U.S. officials said.