Indian goods facing US tariffs welcome in Russia: Senior diplomat Roman Babushkin

Russia aims to bolster bilateral trade with India, expressing readiness to import more Indian goods affected by US tariffs. Despite US pressure, Russia defends India’s crude oil procurement, emphasizing their strategic partnership and commitment to resolving challenges. The discounts on Russian oil remain attractive, ensuring continued energy cooperation between the two nations.

India and the Eurasian Economic Union (EAEU) have signed Terms of Reference in Moscow to begin FTA negotiations, aiming to boost trade and investment. This development occurs as the US imposes tariffs on Indian imports, including penalties for Russian oil purchases. The FTA with the $6.

India’s textile exports showcased resilience in July 2025, climbing 5.37% to $3.1 billion, driven by robust demand for readymade garments, jute, carpets, and handicrafts. Cumulative exports for April-July 2025 reached $12.18 billion, marking a 3.87% increase compared to the previous year, highlighting the sector’s diversified product strength and its role in economic growth despite global […]

External Affairs Minister S. Jaishankar highlighted the significant increase in India-Russia bilateral trade, which surged from USD 13 billion in 2021 to USD 68 billion in 2024-25. However, he emphasized the urgent need to address the growing trade imbalance, which has widened from USD 6.6 billion to USD 58.

India’s textile exports demonstrated resilience in July 2025, increasing by 5.37% to USD 3.10 billion, driven by strong demand in ready-made garments, jute, carpets, and handicrafts. Cumulative exports for April-July 2025 rose by 3.87% to USD 12.18 billion, highlighting the sector’s role as a key driver of economic growth despite global uncertainties. Ready-made Garment exports […]

The Indian government has temporarily suspended the 11% import duty on raw cotton until September 30th to improve domestic supply. This decision is anticipated to benefit the textile sector by providing raw materials at competitive global rates and potentially increasing cotton imports from the US, particularly for premium exports.

A parliamentary panel suggests recalibrating India’s export strategy by enhancing manufacturing competitiveness and diversifying markets to counter global economic headwinds. The panel urges expanding production-linked incentives to high-tech and green manufacturing. Additionally, the government is urged to expedite CPSE privatization and aim for 8% economic growth with increased investment.

India faces potential tariffs of $48.2 billion on exports to the US following reciprocal duties imposed starting August 2025. The government is negotiating a trade agreement with the US, but talks have been delayed. Despite this, India’s exports to the US grew by 21.64% during April-July FY25. Countervailing duties have also been announced by the […]

India’s Russian oil imports decreased in July due to reduced discounts and seasonal demand dips, with private refiners taking the majority. State refiners are shifting to Middle Eastern and U.S. supplies amid narrowed Urals discounts. Overall, Russian oil imports fell slightly in January-July, while U.S. purchases increased significantly, and Latin American imports were skipped in […]

U.S. Treasury Secretary Scott Bessent has accused India of “profiteering” from increased Russian oil purchases during the Ukraine war, now constituting 42% of India’s oil imports. Bessent contrasted this with China’s 16%, deeming India’s actions, which he calls “Indian arbitrage,” unacceptable.