Former US official, Mark Linscott, underscored that India and the US have "tremendous potential" adding that the two countries will conclude a "large trade deal" during Prime Minister Narendra Modi's visit to the US.
Amid the ongoing tariff threat from the US President Donald Trump, the crude oil prices will not be affected by it, says A S Sawhney, Chairman of Indian Oil Corporation Ltd (IOCL).
India is considering reducing tariffs on more than 30 items and increasing its purchases of US defence and energy products to prevent higher reciprocal tariffs from the United States, according to a report by Nomura
Market breadth was weak, with only 11 Nifty companies advancing, while 39 declined. Kotak Bank, Bharti Airtel, Britannia, Tata Consumer Products, and HCL Tech emerged as the top gainers, while Trent, Power Grid, Tata Steel, Titan, and ONGC were the worst performers of the session.
While addressing a press briefing with Japanese Prime Minister Shigeru Ishiba, Trump said, "I'll be announcing that next week, reciprocal trade, so that we're treated evenly with other countries."
Shanghai Cooperation Organization (SCO) Secretary-General Nurlan Yermekbayev on Thursday ruled out immediate plans for a common payment system within the bloc but stressed efforts to boost national currency transactions in trade.
The Indian stock market opened on a positive note on Wednesday, with both benchmark indices trading in the green as Trump tariff threat seen as a negotiating tools
"Though Trump has been threatening BRICS countries also, it remains as to when he would press the button. This could be a knee jerk on the Rupee, but it's better to wait and watch for a couple of days" the currency expert said.