US Treasury Secretary Scott Bessent accused Europe of indirectly funding the Russia-Ukraine war by buying Indian-refined fuel made from Russian oil, defended US tariffs on India, and said Indian crude purchases have dropped, suggesting a possible path to easing tariffs.
Chairman of Indian Oil Corporation Ltd (IOCL), A S Sahney, said that Indian refineries are "robust" and can process Venezuelan crude if it becomes available.
"India is growing at a phenomenal rate, and everybody is interested in talking about doing business with India," he said on the sidelines of the World Economic Forum (WEF) in Davos.
The chemical sector in the country is facing multiple structural and macroeconomic risks, with challenges ranging from China's persistent overcapacities to elevated crude oil prices and weak demand in key western markets, according to a report by Nuvama.
In a boost for India's energy footprint, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Wednesday announced the discovery of light crude oil in Abu Dhabi's Onshore Block 1.
Crisil Ratings does not expect the US action in Venezuela to have any material impact on India's global trade or the credit quality of Indian corporates.
India's economic growth remains resilient despite global macro-economic challenges, with supportive domestic factors expected to aid a pick-up in growth going forward, highlighted a report by HSBC Mutual Fund.
The dark clouds of selling pressure continued to hover over Indian stock markets on Monday opening as investors remained cautious amid ongoing unrest in Iran and a surge in crude oil prices.
Speaking with ANI, Sachdev noted Indian refineries, like Reliance's Jamnagar, can process Venezuelan crude, making it a viable option for India if prices are right.
Trump made the announcement in a post on his social media platform Truth Social, stating, "At least 100 Billion Dollars will be invested by BIG OIL, all of whom I will be meeting with today at The White House."
Centrum estimates FMCG to post 6.6% year-on-year revenue growth in Q3FY26, driven by nearly 4% volume growth. Gross margins are projected to expand by 17 basis points year-on-year to 52.2%, while EBITDA margins may improve by 35 basis points to 26%.
Selling pressure continued to hang over domestic equity markets in the opening session on Friday as benchmark indices opened in the red, weighed down by persistent 500 per cent US tariff threats on countries importing Russian crude and record foreign portfolio investor (FPI) outflows.