#MarketsWithBS | Goldman Sachs trims India's GDP forecast on Trump's 25% tariffs. Details here #Stocks #markets #stockmarketnews #sharemarket #GoldmanSachs #IndiaGDP #TrumpTariffs https://t.co/iWFfJJOw6p
#BSEditorial | #Trump’s proposed 25% #tariff on Indian exports could go higher with a surcharge linked to #russianoil or lower through negotiations. With key exports like #iPhones already benefiting from different rates, the broader challenge lies in #India facing higher https://t.co/u8cKrSAQOn
🇮🇳 🇺🇸 Modi Urges Indians to Buy Local Goods After Trump Tariffs - Bloomberg https://t.co/ZwmJjR44Ir
White House Deputy Chief of Staff Stephen Miller said it is "not acceptable" for India to continue buying Russian crude, arguing that the purchases help finance Moscow’s war in Ukraine. Miller told Fox News that India is now "basically tied with China" as the largest buyer of Russian oil and warned that “all options are on the table” as President Donald Trump weighs additional steps to curb the flow of funds to the Kremlin. The remarks follow the Trump administration’s imposition of a 25% tariff on Indian exports last week. Officials have signalled that the levy could be raised further, or be supplemented with a surcharge, if New Delhi does not scale back its oil trade with Russia. The prospect of tougher U.S. measures prompted Goldman Sachs to trim its forecast for India’s economic growth, citing the tariff shock and uncertainty over future penalties. Prime Minister Narendra Modi responded by urging Indians to buy domestically produced goods, framing the appeal as a shield against global instability and external pressure. People familiar with government deliberations told Bloomberg that Indian refiners have received no directive to halt Russian crude purchases and will continue to source oil based on commercial considerations. Trade negotiators from both countries are expected to meet later this month, but diplomats in New Delhi say India intends to preserve its energy ties with Russia while pursuing broader talks with Washington.