India taxed, China spared: Marco Rubio defends US’ double standards on Russian oil

U.S. Secretary of State Marco Rubio warned that global energy prices could rise if the U.S. imposes secondary sanctions on China for refining Russian oil, amid criticism over the U.S. placing a 25% tariff on India for similar purchases but sparing China.

As Narendra Modi visits China, partnership deals between Indian and Chinese companies face delays. China is carefully vetting technology transfer terms, impacting sectors like appliances and auto components. Haier’s stake sale in its Indian unit is held up. PG Electroplast’s compressor project also faces delays. These hurdles affect Indian firms reliant on Chinese technology and […]

Faced with US tariffs, the government is considering targeted, industry-specific measures like relaxed credit lines for textiles, instead of a broad loan guarantee scheme. Integration with PM Vishwakarma and BharatNet is also being explored, alongside cluster-based funds and lower insurance premiums. These steps are crucial amid uncertainty surrounding bilateral trade agreement talks and rising concerns […]

To protect domestic manufacturers, the Directorate General of Trade Remedies suggests imposing a safeguard duty on specific flat steel products. This duty will be applicable for three years. The recommendation includes a 12% duty in the first year, followed by 11.5% and 11% in the subsequent years.

The Duty-Free Import Authorization (DFIA) scheme, intended to lower exporter costs, is reportedly being exploited, becoming a “license to loot” due to unclear policies and weak enforcement. GTRI urges immediate government intervention, advocating for a forensic audit of past licenses and duty recovery to restore faith in India’s export incentives and prevent honest exporters from […]

President Trump hinted the US might forgo secondary tariffs on nations, including India, still buying Russian oil, despite concerns such tariffs could severely impact them. He acknowledged India’s reduced oil purchases from Russia, while noting China’s continued significant intake. Treasury Secretary Bessent previously suggested secondary sanctions were possible if the Trump-Putin summit yielded unfavourable results.

The upcoming round of India-US trade agreement talks has been postponed amidst escalating trade tensions. The US has imposed tariffs on Indian goods, including a penalty for trade with Russia. India is hesitant to grant greater market access in agriculture, while states express concerns about the potential impact on their farmers and economies.

The United States has reportedly called off its negotiators’ visit to New Delhi, originally scheduled for 25–30 August, for the sixth round of bilateral trade talks. The decision comes amid growing trade frictions and ahead of a fresh 25% tariff on Indian goods linked to Russian oil imports. India says it cannot stop buying Russian […]

Economist Jeffrey Sachs criticizes US President Trump’s protectionist trade policies, particularly the imposition of 50% tariffs on Indian goods, deeming him an unreliable trade partner. Sachs advises India to maintain an independent foreign policy, strengthening ties with nations like China, Russia, and Brazil. He also highlights the legal challenges to Trump’s tariffs, suggesting they may […]

“Our electronics exports have seen a surge of over 47% in Q1 of 2025-26 over the same quarter in 2024-25. It is a sweet success story for ‘Make In India’, which has led to an exponential growth in our electronics production from $31 Bn to $133 Bn in a decade beginning 2014-15,” the minister wrote […]