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India engaged with U.S. in more trade talks, Indian government source says

NEW DELHI (Reuters) -India is engaged in trade talks with the United States after Washington imposed a 25% tariff on New Delhi, a move that could impact about $40 billion worth of the South Asian country’s exports, an Indian government source with knowledge of the trade discussions told Reuters on Friday. A delegation from the …

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US sanctions force vessels with Russian oil to divert from India, sources say

By Nidhi Verma and Gleb Stolyarov NEW DELHI/MOSCOW (Reuters) -At least two vessels loaded with Russian oil bound for refiners in India have diverted to other destinations following new U.S. sanctions, trade sources said, and LSEG trade flows showed. The U.S. Treasury Department this week imposed sanctions on more than 115 Iran-linked individuals, entities, and …

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India’s R R Kabel says ‘won’t take extra hit’ to supply to US; to shift exports after tariff impact

By Hritam Mukherjee and Ananta Agarwal (Reuters) -India’s top wire exporter R R Kabel will ramp up shipments to key markets, including Europe and the Middle East, to cushion the impact of a 25% U.S. tariff on Indian goods, a senior executive told Reuters on Friday. “I will not take any extra hit on my …

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India’s PNB Housing Finance on track for steepest drop in 7 years as CEO resigns

By Nishit Navin and Vivek Kumar M (Reuters) -Shares of India’s PNB Housing Finance were on course for their worst single-session fall in nearly seven years on Friday, as its CEO’s surprise resignation sparked concerns over the growth of its profitable affordable housing segment. The home financier’s shares fell more than 17% to a four-month …

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India’s GlaxoSmithKline Pharma posts first revenue drop in over two years

(Reuters) -Indian drugmaker GlaxoSmithKline Pharma reported its first quarterly revenue decline in more than two years on Friday, leading to its shares declining the most in nearly four months. The Indian unit of British drugmaker GSK Plc reported a 2% decline in its revenue from operations to 8.05 billion rupees ($92 million)for the first quarter …

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India forecasts average rainfall in August, surplus in September

By Rajendra Jadhav MUMBAI (Reuters) -India is likely to receive an average amount of monsoon rainfall – critical to the economy – in August after 5% more than normal volumes of rain in July, a senior weather department official said on Thursday. The monsoon is the lifeblood of India’s nearly $4 trillion economy, delivering almost …

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