Stay updated on the Indian stock market's daily performance. Explore a detailed sector-wise analysis for August 06, 2025 to make informed investment decisions August 06, 2025

Indian stock market sector-wise performance today - August 6, 2025

Stay updated on the Indian stock market's daily performance. Explore a detailed sector-wise analysis for August 06, 2025 to make informed investment decisions. 

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<div class="relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8">Indian markets saw broad declines on August 6, 2025, led by a 1.74% drop in Nifty IT. Sensex, Nifty 50 closed below key averages, while Nifty Bank posted slight gains.</div>
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Stay updated on the Indian stock market's daily performance.Explore a detailed sector-wise analysis for August 06, 2025 to make informed investment decisions.

Top 5 Nifty 50 gainers today – August 6, 2025: Biggest stock moves

Discover the 5 biggest gainers in the Nifty 50 today August 06, 2025. Get the latest market insights and analysis on these outperforming stocks. 

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Explore technical analysis for top Indian stocks&mdash;Adani Ports, Asian Paints, BEL, HDFC Life, and SBI Life as of August 6, 2025. Know their RSI, MACD, EMA trends and more.
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In this article, we will explore the technical indicators of some of the high-performing stocks on the Indian stock market, including ADANIPORTS, ASIANPAINT, BEL, HDFCLIFE, and SBILIFE.
By looking at these stocks through the lens of key technical factors, we aim to better understand their price movements, trends, and potential future performance.
<img src="https://cdn.editorji.com/business_images/top_gainer_images/2025_08_06beautified_percentage_change_indices_current_day.png" width="428" height="243">
Analysis for Adani Ports - August 06, 2025
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Adani Ports' performance shows a minor increase with a % change of 0.66% and a point change of 9.0. The stock closed at 1367.10 after opening at 1374.0, with a trading volume of 2,293,202. Despite challenging market conditions indicated by a low RSI of 41.77 and a negative MACD, the company maintains a significant market cap of 2,953,127,395,328 and a PE Ratio of 26.14 in the Industrials sector, specifically Marine Shipping in India.
<img src="https://cdn.editorji.com/business_images/top_gainer_images/2025_08_06ADANIPORTS.NS_candlestick_with_ema_last_365_days.png" width="421" height="187">
Relationship with Key Moving Averages
Adani Ports is currently trading below its 50-day and 20-day EMAs, with close prices at 1367.10 compared to 1392.13 and 1397.43 respectively, indicating a bearish sentiment in the short term. However, it remains above the 200-day EMA of 1309.69, suggesting a longer-term bullish trend.
Moving Averages Trend (MACD)
The MACD for Adani Ports is currently at -14.55, which is below the MACD Signal line at -7.50. This indicates a bearish momentum as the MACD is negative and suggests that the stock may be experiencing downward pressure.
<img src="https://cdn.editorji.com/business_images/top_gainer_images/2025_08_06ADANIPORTS.NS_macd_last_365_days.png" width="421" height="187">
RSI Analysis
The RSI (Relative Strength Index) for Adani Ports stands at 41.77, suggesting that the stock is approaching the oversold territory but is not yet considered oversold. This level may indicate potential bullish opportunities if the indicator continues to trend downward and subsequently reverses.
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Analysis for Asian Paints - August 06, 2025
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Asian Paints opened at 2440.0 and closed at 2491.2, demonstrating a positive performance with a 2.23% increase from the previous close of 2436.8. The company's market capitalization stands at 2.39 trillion INR, and it operates within the Specialty Chemicals industry in the Basic Materials sector in India. The stock's Relative Strength Index (RSI) is at 66.25, indicating strong momentum.
<img src="https://cdn.editorji.com/business_images/top_gainer_images/2025_08_06ASIANPAINT.NS_candlestick_with_ema_last_365_days.png" width="421" height="187">
Relationship with Key Moving Averages
The closing price of Asian Paints is above its 10-day, 20-day, 50-day, and 200-day EMAs, indicating a bullish trend in the short to long term. Given these relationships, the stock is experiencing upward momentum relative to these key moving averages.
Moving Averages Trend (MACD)
The MACD for Asian Paints is 23.83, with a MACD Signal of 17.37. Since the MACD is greater than the MACD Signal, it indicates a bullish signal, suggesting that the stock may continue to rise in the near term.
<img src="https://cdn.editorji.com/business_images/top_gainer_images/2025_08_06ASIANPAINT.NS_macd_last_365_days.png" width="421" height="187">
RSI Analysis
Asian Paints has an RSI of 66.25, which suggests that the stock is nearing the overbought territory. This indicates a strong upward momentum, but it also warrants caution as it approaches higher RSI levels, hinting at potential future price corrections.
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Analysis for Bharat Electronics - August 06, 2025
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Bharat Electronics performance reflects a slight positive price movement, with a close of 389.70, indicating a 0.79% increase from the previous close. The stock's volume is substantial at 16,845,733 shares, and it operates in the Industrials sector, specifically the Aerospace &amp; Defense industry in India. The EMA and RSI indicate short-term volatility, while the MACD suggests a bearish sentiment.
<img src="https://cdn.editorji.com/business_images/top_gainer_images/2025_08_06BEL.NS_candlestick_with_ema_last_365_days.png" width="421" height="187">
Relationship with Key Moving Averages
Bharat Electronics is trading below its 50 EMA, slightly below at 389.700 compared to a 50 EMA of 389.776. The stock is also trading well above its 200 EMA of 333.526, suggesting a longer-term uptrend while short-term moving averages indicate possible consolidation or downward pressure.
Moving Averages Trend (MACD)
The MACD value for Bharat Electronics is -4.99, while the MACD Signal is -3.43, indicating bearish momentum. This suggests the stock may be experiencing downward pressure, as the MACD line is below the signal line.
<img src="https://cdn.editorji.com/business_images/top_gainer_images/2025_08_06BEL.NS_macd_last_365_days.png" width="421" height="187">
RSI Analysis
The RSI value for Bharat Electronics is approximately 44.65, indicating a neutral market condition as it is close to the midpoint of 50. This suggests that the stock is neither overbought nor oversold, implying balanced pressure from buyers and sellers.
<img src="https://cdn.editorji.com/business_images/top_gainer_images/2025_08_06BEL.NS_rsi_last_365_days.png" width="421" height="187">
Analysis for HDFC LIFE - August 06, 2025
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HDFC LIFE showed a positive performance with a closing price of 752.55, reflecting a 1.90% increase from the previous close of 738.5. The company's stock traded within a range of 734.10 to 755.00, supported by a daily trading volume of 1,797,821 shares. Despite the recent gain, the 50-day EMA of 756.74 indicates a slightly bearish trend compared to its 20-day EMA of 756.53 and 10-day EMA of 750.67, along with a below-average RSI of 46.26.
<img src="https://cdn.editorji.com/business_images/top_gainer_images/2025_08_06HDFCLIFE.NS_candlestick_with_ema_last_365_days.png" width="421" height="187">
Relationship with Key Moving Averages
HDFC Life's closing price of 752.55 is below its 50 EMA of 756.74 and slightly below the 20 EMA of 756.53, indicating a potential bearish trend. However, it is above the 10 EMA of 750.67, suggesting short-term bullishness. The stock is well above the 200 EMA of 708.52, highlighting a strong overall position in the longer term.
Moving Averages Trend (MACD)
The current MACD for HDFC Life is -6.56, with a signal line of -5.23. This suggests a bearish sentiment, as the MACD line is below the signal line, indicating potential downward momentum in the stock.
<img src="https://cdn.editorji.com/business_images/top_gainer_images/2025_08_06HDFCLIFE.NS_macd_last_365_days.png" width="421" height="187">
RSI Analysis
RSI Analysis for HDFC Life: The RSI of 46.26 indicates that the stock is currently in a neutral zone, not in overbought or oversold territory. This suggests a balance between buying and selling pressures.
<img src="https://cdn.editorji.com/business_images/top_gainer_images/2025_08_06HDFCLIFE.NS_rsi_last_365_days.png" width="421" height="187">
Analysis for SBI Life - August 06, 2025
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SBI Life Insurance exhibited a marginal decline in its stock price with a closing value of 1854.3, showing a small decrease of approximately -0.15% from the previous close. The trading volume stood at 816,407 shares. The stock's performance indicators reveal it is trading above its 50 and 200-day EMAs, indicating a positive long-term trend, while maintaining a healthy RSI of 56.95, suggesting balanced buying and selling pressure.
<img src="https://cdn.editorji.com/business_images/top_gainer_images/2025_08_06SBILIFE.NS_candlestick_with_ema_last_365_days.png" width="421" height="187">
Relationship with Key Moving Averages
SBI Life's current closing price of 1854.30 is above both its 50-day EMA of 1800.49 and 200-day EMA of 1667.52, indicating a bullish trend over both medium and long-term periods. Additionally, the price is slightly above the 10-day EMA of 1834.50 and the 20-day EMA of 1827.73, suggesting a stronger short-term uptrend.
Moving Averages Trend (MACD)
MACD Analysis for SBI Life: The MACD value is 8.51, which is above the MACD signal line at 6.15, suggesting a bullish momentum. This indicates potential upward movement in the stock price if current conditions persist.
<img src="https://cdn.editorji.com/business_images/top_gainer_images/2025_08_06SBILIFE.NS_macd_last_365_days.png" width="421" height="187">
RSI Analysis
The current RSI for SBI Life is approximately 56.95, indicating a neutral market sentiment. An RSI around 50 suggests that the stock is neither overbought nor oversold, implying potential stability or consolidation in the near term.
<img src="https://cdn.editorji.com/business_images/top_gainer_images/2025_08_06SBILIFE.NS_rsi_last_365_days.png" width="421" height="187">

RBI keeps India's 2025-26 GDP growth at 6.5% and lowers inflation forecast to 3.1% amid strong monsoon, low inflation, and policy support.

RBI retains FY26 growth at 6.5 pc; lowers inflation forecast to 3.1 pc

RBI keeps India's 2025-26 GDP growth at 6.5% and lowers inflation forecast to 3.1% amid strong monsoon, low inflation, and policy support.

The Reserve Bank on Wednesday retained the GDP growth projection for the current fiscal year at 6.5 per cent while lowering the inflation forecast to 3.1 per cent from 3.7 per cent.
Unveiling the third bi-monthly monetary policy for 2025-26, RBI Governor Sanjay Malhotra said the above normal southwest monsoon, lower inflation, rising capacity utilisation, and congenial financial conditions continue to support domestic economic activity.
The supportive monetary, regulatory and fiscal policies, including robust government capital expenditure, should also boost demand. The services sector is expected to remain buoyant, with sustained growth in construction and trade in the coming months.
"Growth is robust and as per projections, though it is below our aspirations. The uncertainties of tariffs are still evolving. Monetary policy transmission is continuing. The impact of the 100 bps rate cut since February 2025 on the economy is still unfolding," the Governor said.
He further said the domestic growth is holding up and is broadly evolving along the lines of assessment even though some high-frequency indicators showed mixed signals in May-June.
Rural consumption remains resilient while urban consumption revival, especially discretionary spending, is tepid, he said.
Malhotra said the headwinds emanating from prolonged geopolitical tensions, persisting global uncertainties, and volatility in global financial markets pose risks to the growth outlook.
"Taking all these factors into account, real GDP growth for 2025-26 is projected at 6.5 per cent, with Q1 at 6.5 per cent, Q2 at 6.7 per cent, Q3 at 6.6 per cent, and Q4 at 6.3 per cent," he said.
Real GDP growth for Q1 2026-27 is projected at 6.6 per cent. The risks are evenly balanced.
On inflation, the governor said Consumer Price Index (CPI) declined for the eighth consecutive month to a 77-month low of 2.1 per cent in June, driven primarily by a sharp decline in food inflation.
"The inflation outlook for 2025-26 has become more benign than expected in June," he said.
The RBI said CPI inflation for 2025-26 is projected at 3.1 per cent with Q2 at 2.1 per cent; Q3 at 3.1 per cent; and Q4 at 4.4 per cent.
Retail inflation for Q1 2026-27 is projected at 4.9 per cent. The risks are evenly balanced.
Malhtora added that as the Indian economy strives to attain its rightful place in the global economy, stronger policy frameworks across domains, and not just limited to monetary policy, will be pivotal in its journey.

Stay updated on the Indian stock market's daily performance.Explore a detailed sector-wise analysis for August 05, 2025 to make informed investment decisions.

NSE Nifty 50: Top 5 stock losers of August 5, 2025

Discover the 5 biggest losers in the Nifty 50 today August 05, 2025. Get the latest market insights and analysis on these underperforming stocks. 

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<div class="relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8">Explore detailed technical insights for low-performing Indian stocks like ADANIENT, ADANIPORTS, ICICIBANK, INFY, and RELIANCE as of August 5, 2025.&nbsp;</div>
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In this article, we will explore the technical indicators of some of the low-performing stocks on the Indian stock market, including ADANIENT, ADANIPORTS, ICICIBANK, INFY, and RELIANCE.
By looking at these stocks through the lens of key technical factors, we aim to better understand their price movements, trends, and potential future performance.
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<img src="https://cdn.editorji.com/business_images/top_losers_images/2025_08_05beautified_percentage_change_indices_current_day.png" width="428" height="243">
Analysis for Adani Enterprises - August 05, 2025
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Adani Enterprises, listed in the Energy sector with a focus on Thermal Coal in India, recently closed at 2328.20, experiencing a decline of approximately 1.50% from the previous close. With a low RSI of 27.35, the stock indicates an oversold condition, signaling potential bearish momentum. The stock's current market cap stands at approximately ₹2.69 trillion.
<img src="https://cdn.editorji.com/business_images/top_losers_images/2025_08_05ADANIENT.NS_candlestick_with_ema_last_365_days.png" width="421" height="187">
Relationship with Key Moving Averages
Adani Enterprises is currently trading below its key moving averages, with the stock price at 2328.20 compared to the 50 EMA of 2515.09, the 200 EMA of 2536.78, the 10 EMA of 2453.09, and the 20 EMA of 2503.58. This indicates bearish momentum in the short-term and long-term trends.
Moving Averages Trend (MACD)
Adani Enterprises is showing a bearish trend as indicated by the MACD value of -46.40, which is below the MACD Signal of -14.42. This suggests that the stock might continue to experience downward momentum in the short term.
<img src="https://cdn.editorji.com/business_images/top_losers_images/2025_08_05ADANIENT.NS_macd_last_365_days.png" width="421" height="187">
RSI Analysis
Adani Enterprises' RSI (Relative Strength Index) is 27.35, indicating that the stock is currently in the oversold zone. Typically, an RSI below 30 suggests that the stock may be undervalued and could experience a potential price reversal or upward movement in the near future.
<img src="https://cdn.editorji.com/business_images/top_losers_images/2025_08_05ADANIENT.NS_rsi_last_365_days.png" width="421" height="187">
Analysis for Adani Ports - August 05, 2025
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Adani Ports has experienced a decline, with a closing price of 1358.10, marking a 2.22% decrease from the previous close of 1388.90. Although its RSI indicates it might be slightly oversold at 39.33, its volume of 2,999,795 and a stable market cap suggest a strong market presence in the marine shipping industry. The MACD is negative, indicating a bearish trend.
<img src="https://cdn.editorji.com/business_images/top_losers_images/2025_08_05ADANIPORTS.NS_candlestick_with_ema_last_365_days.png" width="421" height="187">
Relationship with Key Moving Averages
Adani Ports has a current close of 1358.10, which is below its 50-day EMA of 1393.15 and 20-day EMA of 1400.62, indicating a potential downtrend. However, it remains above the 200-day EMA of 1309.10, suggesting a longer-term positive trend despite recent declines.
Moving Averages Trend (MACD)
Adani Ports exhibits a bearish trend with its MACD at -13.75 below the MACD Signal of -5.73, indicating increased selling pressure. This negative momentum suggests potential further downside, especially given the RSI of 39.33 reflecting weak relative strength.
<img src="https://cdn.editorji.com/business_images/top_losers_images/2025_08_05ADANIPORTS.NS_macd_last_365_days.png" width="421" height="187">
RSI Analysis
Adani Ports has an RSI of 39.33, indicating that the stock is approaching oversold territory. This suggests potential selling pressure, but it may also present a buying opportunity should conditions remain favorable.
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Analysis for ICICI Bank - August 05, 2025
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ICICI Bank experienced a decrease in stock price, closing at 1444.40, a drop of roughly 1.28% from its previous close. The bank's trading volume was quite active, with nearly 14.8 million shares exchanged. Despite the short-term dip, technical indicators like the 50 EMA show support near current levels, and the bank maintains a robust financial position with a P/E ratio of 19.74 and an EPS of 73.16 within the financial services sector in India.
<img src="https://cdn.editorji.com/business_images/top_losers_images/2025_08_05ICICIBANK.NS_candlestick_with_ema_last_365_days.png" width="421" height="187">
Relationship with Key Moving Averages
ICICI Bank's closing price of 1444.40 is slightly below its 50-day EMA of 1441.43, indicating potential short-term bearishness, while it remains notably above the 200-day EMA of 1347.93, suggesting a long-term bullish trend. The 10-day and 20-day EMAs at 1466.26 and 1459.91, respectively, further imply short-term bearish momentum.
Moving Averages Trend (MACD)
ICICI Bank's MACD value is 9.22, while the MACD Signal is higher at 11.02. This indicates a bearish trend as the MACD line is below the signal line. Also, the RSI at 45.41 suggests the stock is in the neutral zone but leaning towards being oversold.
<img src="https://cdn.editorji.com/business_images/top_losers_images/2025_08_05ICICIBANK.NS_macd_last_365_days.png" width="421" height="187">
RSI Analysis
Based on the RSI value of 45.41 for ICICI Bank, the stock is neither in an overbought nor oversold condition, indicating a relatively neutral position in the market. This suggests that there is no immediate indication of a strong buying or selling pressure, but it should be monitored closely for any significant movements.
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Analysis for Infosys - August 05, 2025
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Infosys has shown a decrease in its stock performance with a closing price at 1460.30, down by 1.36% from the previous close. The stock's Relative Strength Index (RSI) is at 27.06, indicating that it is in the oversold territory. With market dynamics reflected by a MACD of -31.67 against a signal of -20.61, and EMAs showing a downward trend compared to its previous averages, it signifies recent bearish momentum in the Technology sector.
<img src="https://cdn.editorji.com/business_images/top_losers_images/2025_08_05INFY.NS_candlestick_with_ema_last_365_days.png" width="421" height="187">
Relationship with Key Moving Averages
Infosys's current close price of 1460.3 is below the key moving averages, with the 10 EMA at 1507.52, the 50 EMA at 1562.73, and the 200 EMA at 1628.21. This indicates potential bearish momentum as the stock is trading below its recent trends.
Moving Averages Trend (MACD)
The MACD for Infosys shows a bearish signal, as the MACD line is below the MACD Signal line with a value of -31.67 compared to -20.61 for the signal line. This indicates a negative momentum, potentially signaling a continuation of a downward trend in the stock price.
<img src="https://cdn.editorji.com/business_images/top_losers_images/2025_08_05INFY.NS_macd_last_365_days.png" width="421" height="187">
RSI Analysis
Infosys has an RSI value of 27.06, indicating that the stock is currently in the oversold territory. This suggests that the stock may be undervalued and could potentially see a price correction or upward movement in the short term. However, investors should consider other technical indicators and market conditions before making trading decisions.
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Analysis for Reliance - August 05, 2025
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Reliance experienced a slight decline in its stock performance. The stock closed at 1391.70, down 1.40% from the previous close, with a decrease of 19.80 points. The volume traded was 9,314,524 shares. With an RSI of 37.86, the stock is approaching the oversold territory, indicating possible bearish momentum in the short term.
<img src="https://cdn.editorji.com/business_images/top_losers_images/2025_08_05RELIANCE.NS_candlestick_with_ema_last_365_days.png" width="421" height="187">
Relationship with Key Moving Averages
Reliance is currently trading below its 10-day EMA (1409.36), 20-day EMA (1428.84), and 50-day EMA (1433.52), indicating a possible bearish trend in the short to medium term. However, it is trading above its 200-day EMA (1374.94), suggesting that a longer-term bullish trend might still be intact.
Moving Averages Trend (MACD)
Reliance's current MACD is at -21.04, which is below the MACD Signal line at -15.85, indicating a bearish trend. This suggests a possible continuation of the downward momentum in the stock's price.
<img src="https://cdn.editorji.com/business_images/top_losers_images/2025_08_05RELIANCE.NS_macd_last_365_days.png" width="421" height="187">
RSI Analysis
The RSI (Relative Strength Index) for Reliance is currently 37.86, indicating that the stock is approaching oversold conditions. An RSI below 30 typically signals that a stock may be undervalued, while an RSI of 37.86 suggests that while it is not yet in oversold territory, it is leaning towards it, possibly indicating a buying opportunity if fundamentals align.
<img src="https://cdn.editorji.com/business_images/top_losers_images/2025_08_05RELIANCE.NS_rsi_last_365_days.png" width="421" height="187">

Reliance Group Chairman Anil Ambani was questioned by the ED under PMLA in a ₹17,000 crore money laundering probe linked to alleged loan frauds.

Anil Ambani appears before ED in bank loan 'fraud' linked PMLA case

Reliance Group Chairman Anil Ambani was questioned by the ED under PMLA in a ₹17,000 crore money laundering probe linked to alleged loan frauds.

Reliance Group Chairman Anil Ambani on Tuesday appeared before the Enforcement Directorate here for questioning in a money laundering case linked to alleged multiple bank loan fraud cases worth crores of rupees against his group companies, official sources said.
He reached the office of the central probe agency in central Delhi around 11 am.
The ED will record the statement of the 66-year-old businessman under the Prevention of Money Laundering Act (PMLA).
The summons come after the agency conducted searches at 35 premises of 50 companies and 25 people, including executives of his business group, in Mumbai on July 24.
The action pertains to alleged financial irregularities and collective loan "diversion" pegged at more than Rs 17,000 crore by multiple group companies of Anil Ambani, including Reliance Infrastructure (R Infra).
The first allegation pertains to "illegal" loan diversion of around Rs 3,000 crore, given by the Yes Bank to the group companies of Ambani between 2017 and 2019.
The ED suspects, the sources said, that just before the loan was granted, Yes Bank promoters "received" money in their companies.
The agency is investigating this nexus of "bribe" and the loan.
The sources said the ED is also probing allegations of "gross violations" in Yes Bank loan approvals to these companies, including charges such as back-dated credit approval memorandums and investments proposed without any due diligence/credit analysis in violation of the bank's credit policy.
The loans are alleged to have been "diverted" to many group companies and "shell" (bogus) companies by the entities involved.
The agency is also looking at some instances of loans given to entities with weak financials, a lack of proper documentation of loans and due diligence, borrowers having common addresses and common directors in their companies, etc., according to the sources. The money laundering case stems from at least two CBI FIRs and reports shared by National Housing Bank, SEBI, National Financial Reporting Authority and Bank of Baroda with the ED, they had said.
These reports, the sources said, indicate there was a "well-planned and thought after scheme" to divert or siphon off public money by cheating banks, shareholders, investors and other public institutions.
The other allegation being probed by the ED, on the basis of a SEBI report, is that R Infra "diverted" funds disguised as inter-corporate deposits (ICDs) to Reliance Group companies through a company named CLE. It is alleged that R Infra did not disclose CLE as its "related party" to avoid approvals from shareholders and audit panels.
A Reliance Group spokesperson had denied any wrongdoing and said in a statement that the allegation regarding alleged diversion of Rs 10,000 crore to an undisclosed party was a 10-year-old matter and the company had stated in its financial statements that its exposure was only around Rs 6,500 crore.
Reliance Infrastructure had publicly disclosed this matter on February 9, 2025, nearly six months ago, the statement said. "Through mandatory mediation proceedings conducted by a retired Supreme Court judge and the mediation award filed before the Hon'ble Bombay High Court, Reliance Infrastructure arrived at a settlement to recover its 100 per cent exposure of Rs 6,500 crore," it said.
The company added that Ambani was not on the board of R Infra since more than three years (March 2022).
The Union government had informed Parliament recently that the State Bank of India has classified RCOM along with Ambani as "fraud" and was also in the process of lodging a complaint with the CBI.
A bank loan "fraud" of more than Rs 1,050 crore between RCOM and Canara Bank is also under the ED scanner, apart from some "undisclosed" foreign bank accounts and assets, the sources said.
Reliance Mutual Fund is also stated to have invested Rs 2,850 crore in AT-1 bonds, and a "quid pro quo" is suspected here by the agency.
Additional Tier 1 (AT-1) are perpetual bonds issued by banks to increase their capital base, and they are riskier than traditional bonds, having higher interest rates.

India defends its Russian oil imports, calling US and EU criticism unjustified while highlighting their own continued trade with Moscow.

India Strongly Rebukes US, EU Over Russian Oil Criticism

India defends its Russian oil imports, calling US and EU criticism unjustified while highlighting their own continued trade with Moscow.

India on Monday mounted an unusually sharp counterattack on the US and the European Union for their "unjustified and unreasonable" targeting of New Delhi for its procurement of Russian crude oil.
New Delhi's response came hours after US President Donald Trump asserted that Washington will substantially raise tariffs on goods from India over its energy ties with Russia.
Firmly rejecting the criticism, India pointed out the double standards in targeting it on the issue and said both the US and the EU are continuing their trade relations with Russia.
"Unlike our case, such trade is not even a vital national compulsion," the Ministry of External Affairs (MEA) said.
&nbsp;
<blockquote class="twitter-tweet">
Statement by Official Spokesperson⬇️ 🔗 <a href="https://t.co/O2hJTOZBby">https://t.co/O2hJTOZBby</a> <a href="https://t.co/RTQ2beJC0W">pic.twitter.com/RTQ2beJC0W</a>
&mdash; Randhir Jaiswal (@MEAIndia) <a href="https://twitter.com/MEAIndia/status/1952412858567844061?ref_src=twsrc%5Etfw">August 4, 2025</a></blockquote>
&nbsp;
&nbsp;
The Europe-Russia trade includes not just energy, but also fertilizers, mining products, chemicals, iron and steel, and machinery and transport equipment, the MEA said in a late-evening statement.
"Where the US is concerned, it continues to import from Russia uranium hexafluoride for its nuclear industry, palladium for its EV industry, fertilizers as well as chemicals," it added.
"In this background, the targeting of India is unjustified and unreasonable. Like any major economy, India will take all necessary measures to safeguard its national interests and economic security," the MEA said.
It said India has been "targeted" by the US and the EU for importing oil from Russia after the commencement of the Ukraine conflict.
In fact, India began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict, it said.
"The US at that time actively encouraged such imports by India for strengthening global energy markets stability," the MEA said, adding India's imports are meant to ensure predictable and affordable energy costs to the Indian consumers.
"They are a necessity compelled by global market situation. However, it is revealing that the very nations criticizing India are themselves indulging in trade with Russia," it said.
The MEA noted that the European Union in 2024 had a bilateral trade of Euro 67.5 billion in goods with Russia.
"In addition, it had trade in services estimated at Euro 17.2 billion in 2023. This is significantly more than India's total trade with Russia that year or subsequently.
"European imports of LNG in 2024, in fact, reached a record 16.5mn tonnes, surpassing the last record of 15.21mn tonnes in 2022," it added.
Earlier, US President Trump said his administration will substantially raise tariffs on India.
"India is not only buying massive amounts of Russian oil, they are then, for much of the oil purchased, selling it on the open market for big profits," he said in a social media post.
"They don't care how many people in Ukraine are being killed by the Russian War Machine," he said.

The Enforcement Directorate has summoned Anil Ambani in a money laundering case linked to loan fraud by his group companies; questioning is set for August 5.

Loan 'fraud': ED summons Anil Ambani for questioning on August 5

The Enforcement Directorate has summoned Anil Ambani in a money laundering case linked to loan fraud by his group companies; questioning is set for August 5.

The Enforcement Directorate has summoned Reliance Group Chairman Anil Ambani for questioning on August 5 in a money laundering case linked to alleged bank loan fraud worth crores of rupees against his group companies, official sources said on Friday.
Ambani, 66, has been asked to depose at the ED headquarters in Delhi as the case has been registered here, the sources said.
The agency will record his statement under the Prevention of Money Laundering Act (PMLA) once he deposes, they said.
Some executives of his group companies have been also been summoned over the next few days.
The summons come after the federal agency conducted searches at 35 premises of 50 companies and 25 people, including executives of his business group, last week. The searches, launched on July 24, went on for three days.
The action pertains to alleged financial irregularities and collective loan "diversion" pegged at more than Rs 17,000 crore by multiple group companies of Anil Ambani, including Reliance Infrastructure (R Infra).
The agency found, on the basis of a Sebi report, that R Infra "diverted" funds disguised as inter-corporate deposits (ICDs) to Reliance Group companies through a company named CLE. It is alleged that R Infra did not disclose CLE as its "related party" to avoid approvals from shareholders and audit panels.
Reliance Group sources said that the matter related to R Infra was publicly disclosed by the company on February 9 and it was not the SEBI which made a "independent" discovery (of the about Rs 10,000 crore diversion of funds).
Reliance Infra had an exposure of Rs 6,500 crore. The allegation that the diverted amount is Rs 10,000 crore only serves to sensationalise the magnitude and is not based on facts, the Reliance Group sources said.
They added that Reliance Infra diligently pursued recovery of its dues in this matter.
Through mandatory mediation proceedings conducted by a retired Supreme Court judge and filed before the Bombay High Court, Reliance Infra arrived at a settlement to recover its entire exposure of Rs 6,500 crore, they said.
The Odisha distribution companies contemplated in the settlement are operational, and their recovery is pending before the courts. This amount is fully recoverable, contrary to the allegations, the company sources said.
The ED is also looking at allegations of "illegal" loan diversion of around Rs 3,000 crore, given by the Yes Bank to the group companies of Ambani between 2017-2019.
The ED, the sources said, has found that just before the loan was granted, Yes Bank promoters "received" money in their concerns.
The agency is investigating this nexus of "bribe" and the loan.
The sources said the ED is also probing allegations of "gross violations" in Yes Bank loan approvals to these companies, including charges such as back-dated credit approval memorandums and investments proposed without any due diligence/credit analysis in violation of the bank's credit policy.
The loans are alleged to have been "diverted" to many group companies and "shell" (bogus) companies by the entities involved.
The agency is also looking at some instances of loans given to entities with weak financials, a lack of proper documentation of loans and due diligence, borrowers having common addresses and common directors in their companies, etc., the sources said.
The money laundering case stems from at least two CBI FIRs and reports shared by the National Housing Bank, SEBI, National Financial Reporting Authority (NFRA) and Bank of Baroda with the ED, they had said.
These reports, the sources said, indicate that there was a "well-planned and thought after scheme" to divert or siphon off public money by cheating banks, shareholders, investors and other public institutions.
The Union government had informed the Parliament recently that the State Bank of India has classified RCOM along with Ambani as 'fraud' and was also in the process of lodging a complaint with the CBI.
A bank loan "fraud" of more than Rs 1,050 crore between RCOM and Canara Bank is also under the scanner of the ED apart from some "undisclosed" foreign bank accounts and assets, the sources said.
Reliance Mutual Fund is also stated to have invested Rs 2,850 crore in AT-1 bonds, and a "quid pro quo" is suspected here by the agency.
Additional Tier 1 (AT-1) are perpetual bonds issued by banks to increase their capital base, and they are riskier than traditional bonds, having higher interest rates.&nbsp;

Donald Trump announces 25% tariffs on Indian exports starting August 7, citing trade deficit and Russia ties; India to examine implications.

White House announces 25% tariff on India, releases list of levies for several countries

Donald Trump announces 25% tariffs on Indian exports starting August 7, citing trade deficit and Russia ties; India to examine implications.

India will face tariffs of 25 per cent on its exports to the US as President Donald Trump issued an executive order listing the various duties that Washington will impose on exports from countries around the world.
In the Executive Order titled &lsquo;Further Modifying The Reciprocal Tariff Rates&rsquo;, Trump announced tariff rates for nearly 70 nations.
A 25 per cent &ldquo;Reciprocal Tariff, Adjusted&rdquo; has been imposed on India, according to the list released. The executive order however does not mention the &ldquo;penalty&rdquo; that Trump had said India will have to pay because of its purchases of Russian military equipment and energy. &nbsp;On Wednesday, Trump, through a post on his social media website Truth Social, announced the 25 per cent tariff on India and an additional penalty for New Delhi&rsquo;s purchases from Russia.
While August 1 was the tariff deadline, the new levies will come into effect from August 7.
In April, Trump had announced that India will face a 26 per cent &ldquo;discounted reciprocal tariff&rdquo;, a per cent higher than the rate announced now. &nbsp;Responding to the executive order, Senior Vice President of the Asia Society Policy Institute (ASPI) and former Deputy US Trade Representative Wendy Cutler said in a statement that India, a &ldquo;promising candidate for an early agreement&rdquo;, was assigned a 25 per cent tariff.
This "calls into question the fate of a bilateral trade agreement. The President&rsquo;s annoyance with India on a range of trade and broader matters rang through his Truth Social post,&rdquo; Cutler said.
Federation of Indian Export Organizations (FIEO) Director General Ajay Sahai said that the order provides relaxation for goods in transit and those loaded on ship for final sailing to the US by August 7.
Goods cleared for consumption in the US by October 5 will also not be subject to reciprocal tariffs, thus providing some relief to exporters of goods already shipped or likely to be shipped this week.
According to Cutler, US customs officials will face challenges implementing the executive order, particularly with the different tariff rates now applied across the world.
The seven-day breathing period before implementation will help, but importers should expect start-up problems at a minimum.
&ldquo;US companies will also face challenges as they navigate this new tariff landscape. Of particular concern is the continued uncertainties they will face with new sectoral tariffs coming and possibilities of additional tariffs if the Administration believes countries are not operating in good faith in their implementation efforts,&rdquo; she said.
In the executive order, Trump stated that some trading partners have agreed to, or are on the verge of agreeing to, meaningful trade and security commitments with the US, thus signalling their sincere intentions to permanently remedy trade barriers and align with Washington on economic and national security matters.
&ldquo;Other trading partners, despite having engaged in negotiations, have offered terms that, in my judgment, do not sufficiently address imbalances in our trading relationship or have failed to align sufficiently with the United States on economic and national-security matters,&rdquo; he said.
"Goods of those trading partners will remain subject to the additional ad valorem duties&hellip; until such time as those agreements are concluded, and I issue subsequent orders memorializing the terms of those agreements.&rdquo; The tariff modifications shall be &ldquo;effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time 7 days after the date of this order.&rdquo; The tariffs in the list range from 10 per cent to 40 per cent, with Japan being charged 15 per cent, Laos and Myanmar (40 per cent each), Pakistan (19 per cent), Sri Lanka (20 per cent) and the United Kingdom (10 per cent).
Declaring that the US has a massive trade deficit with India, Trump had said that while &ldquo;India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high, among the highest in the world, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any country. &nbsp;"Also, they have always bought a vast majority of their military equipment from Russia, and are Russia&rsquo;s largest buyer of energy, along with China, at a time when everyone wants Russia to stop the killing in Ukraine &mdash; All things not good!&rdquo; Trump said.
He said that India will therefore be paying a tariff of 25 per cent, plus a penalty for the above, starting on August 1.
Trump also mounted a sharp attack on India and Russia for their close ties and said that the two countries can take their "dead economies down together". &nbsp;"I don't care what India does with Russia. They can take their dead economies down together, for all I care," he said.
"We have done very little business with India, their Tariffs are too high, among the highest in the World," he added.
"Likewise, Russia and the USA do almost no business together. Let&rsquo;s keep it that way, and tell Medvedev, the failed former President of Russia, who thinks he&rsquo;s still President, to watch his words. He&rsquo;s entering very dangerous territory!&rdquo; Trump said, referring to former Russian President Dmitry Medvedev.
In its reaction, India said it will take all necessary steps to safeguard and promote national interest and that the implications of the tariffs are being examined.
Trump also referred to India&rsquo;s membership in the BRICS (Brazil, Russia, India, China and South Africa) grouping, which he described as anti-US.
At an event in the White House Wednesday, Trump was asked what the additional penalty will be for India for its purchases from Russia.
"Well, we're negotiating right now, and it's also BRICS. You know, they have BRICS, which is basically a group of countries that are anti the United States and India is a member of that, if you can believe it,&rdquo; Trump said adding that &ldquo;it's an attack on the dollar, and we're not going to let anybody attack the dollar.&rdquo; He had said the reason for tariffs on India is partially BRICS and partially the trade deficit.&nbsp;

Donald Trump announces U.S.-Pakistan oil deal, hints Pakistan may sell oil to India in future; follows 25% tariff move on Indian goods.

Trump announces deal with Pakistan

Donald Trump announces U.S.-Pakistan oil deal, hints Pakistan may sell oil to India in future; follows 25% tariff move on Indian goods.

US President Donald Trump has announced sealing a trade deal with Pakistan and said that Washington will work with Islamabad to develop what he described as the South Asian nation's "massive oil reserves".
It is not immediately clear what massive oil reserves in Pakistan Trump was referring to.
In a social media post, the US President also wondered if Pakistan could sell oil to India "some day".
&ldquo;We have just concluded a deal with the country of Pakistan, whereby Pakistan and the United States will work together on developing their massive oil reserves," Trump said in a post on Truth Social on Wednesday.
"We are in the process of choosing the oil company that will lead this partnership. Who knows, maybe they&rsquo;ll be selling oil to India some day!&rdquo; he added.
Pakistan has long claimed to have large oil deposits along its coast, but no progress has been made to tap those deposits. It has been trying to lure in investments to tap into these reserves.
The country currently imports oil from the Middle East to meet its energy demands.
Pakistan's Prime Minister Shehbaz Sharif took to social media on Thursday to thank Trump over the &ldquo;historic&rdquo; trade agreement and expressed hope that it would expand cooperation between the two sides.
&ldquo;I wish to convey my profound thanks to President Trump @realDonaldTrump for his leadership role in finalization of the historic US-Pakistan trade agreement, successfully concluded by our two sides in Washington, last night,&rdquo; he wrote on X.
&ldquo;This landmark deal will enhance our growing cooperation so as to expand the frontiers of our enduring partnership in days to come,&rdquo; he said.
The deal was reached during a meeting between Pakistan's Finance Minister Muhammad Aurangzeb, US Secretary of Commerce Howard Lutnick, and US Trade Representative Ambassador &nbsp;Jamieson Greer in Washington, DC, according to Radio Pakistan.
The trade agreement aims at boosting bilateral trade, expanding market access, attracting investment and fostering cooperation in areas of mutual interest, the report said. &ldquo;The agreement will result in a reduction of reciprocal tariffs especially on Pakistani exports to the United States. This deal marks the beginning of a new era of economic collaboration especially in energy, mines and minerals, IT, cryptocurrency and other sectors,&rdquo; it added.
The announcement came hours after Trump announced a 25 per cent tariff on all goods coming from India, plus an additional unspecified penalty for purchases of Russian military equipment and energy.
In a social media post, Trump called India's trade policies "most strenuous and obnoxious".
"All things not good! India will therefore be paying a tariff of 25 per cent, plus a penalty for the above, starting on August first," Trump said.
During the day, he spoke multiple times about the tariffs that India imposes and referred to India&rsquo;s membership in the BRICS (Brazil, Russia, India, China and South Africa) grouping, which he described as "anti-US".
Responding to a question on negotiations with India, Trump said Washington is talking to Delhi. "...We are going to see, we're negotiating with India right now,&rdquo; he said, while calling India's tariff "one of the highest tariffs in the world".
Trump said the White House has been &ldquo;very busy&rdquo; working on trade deals, and he will be meeting with the South Korean trade delegation.
&nbsp;&ldquo;Likewise, other Countries are making offers for a Tariff reduction. All of this will help reduce our Trade Deficit in a very major way. A full report will be released at the appropriate time,&rdquo; he said.
India said it has &ldquo;taken note" of Trump&rsquo;s statement on bilateral trade and the Government is studying its implications.
&ldquo;India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months. We remain committed to that objective,&rdquo; the statement said.
Trump has set the August 1 date for his tariffs to go into effect.

Sensex drops 786 points, Nifty 213, after Trump’s 25% tariff on Indian goods; market reacts to penalty on Russian imports too.

Sensex Crashes 786 Points After US Tariff Shock

Sensex drops 786 points, Nifty 213, after Trump&rsquo;s 25% tariff on Indian goods; market reacts to penalty on Russian imports too.

Benchmark equity indices Sensex and Nifty tumbled in early trade on Thursday after US President Donald Trump announced the imposition of a 25 per cent tariff on all goods coming from India starting August 1, plus an unspecified penalty for buying Russian crude oil and military equipment.
The 30-share BSE Sensex tanked 786.36 points to 80,695.50 in opening trade. The 50-share NSE Nifty tumbled 212.8 points to 24,642.25.
The announcement is being seen as a pressure tactic to get New Delhi to agree to demands made by the US, which has, in recent days, got favourable trade deals with major partners like Japan, the UK and the European Union.
The penalty was announced as India has made large purchases of oil and military equipment from Russia. India is the first country to face a penalty for Russian imports.
"The 25 per cent tariff on India, plus an unspecified penalty for energy and defence-related purchases from Russia, is very bad news for Indian exports and thereby on the growth prospects of the Indian economy in the short run. Since trade negotiations with India are continuing, perhaps the 25per cent tariff may come down eventually.
"But certainly, there is a short-term hit to Indian exports and GDP growth. This short-term hit will reflect in the stock market, too, in the short-term," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
From the Sensex firms, Reliance Industries, Tata Motors, Mahindra &amp; Mahindra, Bharti Airtel, Titan and State Bank of India were among the biggest laggards.
However, Eternal, Hindustan Unilever, ITC and Power Grid were trading higher.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 850.04 crore on Wednesday, according to exchange data.
In Asian markets, South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng traded lower while Japan's Nikkei 225 index quoted in positive territory.
The US markets ended mostly lower on Wednesday.
Global oil benchmark Brent crude dipped 0.19 per cent to USD 73.10 a barrel.
On Wednesday, the Sensex climbed 143.91 points or 0.18 per cent to settle at 81,481.86. The Nifty went up by 33.95 points or 0.14 per cent to 24,855.05.

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Its raining gains for those who bet on Bitcoin, the cyrptocurrency&nbsp;soared to a record high crossing $60,000 mark
The world's largest&nbsp;cryptocurrency&nbsp;&nbsp;is up 963% over the last 12 months.&nbsp;The digital currency is up over 80% in just 2021 so far.&nbsp;
Post Musk founded&nbsp;Tesla's $1.5 bn Bitcoin&nbsp;investment, institutional&nbsp;buyers such as BlackRock, Mastercard have also backed the virtual currency.&nbsp;

Bitcoin hits record high, crosses $1 trillion market value

Its raining gains for those who bet on Bitcoin, the cyrptocurrency&nbsp;soared to a record high crossing $60,000 mark
The world's largest&nbsp;cryptocurrency&nbsp;&nbsp;is up 963% over the last 12 months.&nbsp;The digital currency is up over 80% in just 2021 so far.&nbsp;
Post Musk founded&nbsp;Tesla's $1.5 bn Bitcoin&nbsp;investment, institutional&nbsp;buyers such as BlackRock, Mastercard have also backed the virtual currency.&nbsp;

Bitcoin at record high hits $60,000

Finance Minister Nirmala Sitharaman withdraws Income Tax Bill 2025 in Lok Sabha. A revised version incorporating Select Committee suggestions to be introduced on August 11.

Sitharaman withdraws Income Tax Bill in Lok Sabha; new Bill to be introduced on August 11

Finance Minister Nirmala Sitharaman withdraws Income Tax Bill 2025 in Lok Sabha. A revised version incorporating Select Committee suggestions to be introduced on August 11.

Finance Minister Nirmala Sitharaman on Friday withdrew the Income Tax Bill, 2025, in the Lok Sabha, and the government will come out with an updated version of the legislation after incorporating changes suggested by the Select Committee.
A new version of the Income Tax Bill will be introduced in the Lok Sabha on August 11.
The updated version of the I-T Bill, according to sources, will incorporate most of the recommendations of the Select Committee.
"To avoid confusion by multiple versions of the Bill and to provide a clear and updated version with all changes incorporated, the new version of the Income Tax Bill will be introduced for the consideration of the House on Monday," sources said.
The Select Committee, chaired by Baijayant Panda, had suggested a host of changes in the Income Tax Bill, which was introduced in the Lok Sabha on February 13.
Soon after its introduction in the Lower House, the Bill, which will replace the six-decade-old Income Tax Act, 1961, was referred to the Select Committee for scrutiny.
The 31-member Select Committee had made some suggestions on the Bill.
They also favoured continuing tax exemption on anonymous donations made to religious-cum-charitable trusts in the new law, besides suggesting that taxpayers be allowed to claim TDS refund even after the ITR filing due date without paying any penal charges.
The government in the new Bill has exempted non-profit organisations (NPOs) from taxing anonymous donations received by purely religious trusts. However, such donations received by a religious trust that may also have other charitable functions, like running hospitals and educational institutions, will be taxed as per law, as per the Bill.&nbsp;

Stay updated on the Indian stock market's daily performance. Explore a detailed sector-wise analysis for August 08, 2025 to make informed investment decisions August 08, 2025

Indian stock market sector-wise performance today - August 8, 2025

Stay updated on the Indian stock market's daily performance. Explore a detailed sector-wise analysis for August 08, 2025 to make informed investment decisions. 

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<div class="relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8">Indian stock markets closed lower on August 8, 2025, with sharp declines in Nifty Auto, Metal, and Infra indices. Technical indicators show bearish momentum across major sectors.</div>
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Equity markets declined sharply on Friday due to continued foreign fund outflows and concerns over US tariffs on Indian imports, dragging key benchmark indices lower.

Sensex dives 765 points, Nifty drops to 24,363.30 level amid foreign fund exodus, tariff jitters

Equity markets declined sharply on Friday due to continued foreign fund outflows and concerns over US tariffs on Indian imports, dragging key benchmark indices lower.

Equity benchmark indices Sensex and Nifty tumbled on Friday amid non-stop foreign fund outflows and tariff-related jitters.
The 30-share BSE Sensex tanked 765.47 points or 0.95 per cent to settle at 79,857.79. During the day, it tumbled 847.42 points or 1.05 per cent to 79,775.84.
The 50-share NSE Nifty dropped 232.85 points or 0.95 per cent to 24,363.30.
From the Sensex firms, Bharti Airtel, Tata Motors, Mahindra &amp; Mahindra, Kotak Mahindra Bank, Axis Bank and Reliance Industries were among the laggards.
However, NTPC, Titan, Trent, ITC and Bajaj Finserv were the gainers.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,997.19 crore on Thursday, according to exchange data. Domestic Institutional Investors (DII), however, bought stocks worth Rs 10,864.04 crore in the previous trade.
The initial 25 per cent tariffs announced by the US on Indian imports came into effect Thursday.
In Asian markets, Japan's Nikkei 225 index settled in positive territory, while South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng ended lower.
European markets were trading mostly in the green.
The US markets ended on a mixed note on Thursday.
Global oil benchmark Brent crude climbed 0.59 per cent to USD 66.82 a barrel.
On Thursday, the Sensex edged higher by 79.27 points or 0.10 per cent to settle at 80,623.26. The Nifty went up by 21.95 points or 0.09 per cent to 24,596.15.

How are world markets performed today? Get a snapshot of global stock market indices and key market movements on August 07, 2025

Global stock market indices: How the world markets performed today - 07 August 2025

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<div class="relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8">Major global indices displayed varied performances on August 07, 2025, with mixed signals from RSI and MACD indicating uncertain market momentum across regions.</div>
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US sanctions and reciprocal tariffs come into force, with India hit hardest—facing 50% duties linked to Russian oil purchases—sparking sharp criticism from New Delhi and diaspora leaders.

Trump's reciprocal tariffs come into effect globally, including India

US sanctions and reciprocal tariffs come into force, with India hit hardest&mdash;facing 50% duties linked to Russian oil purchases&mdash;sparking sharp criticism from New Delhi and diaspora leaders.

The initial 25 per cent tariffs announced by the US on Indian imports came into effect Thursday, with President Donald Trump saying billions of dollars from countries that have taken advantage of America will now start flowing into the country.
&ldquo;It&rsquo;s Midnight!!! Billions of Dollars In Tariffs Are Now Flowing Into The United States Of America!&rdquo; Trump said in a post on Truth Social as the clock struck 12 midnight in the US, ushering in the August 7 date when the reciprocal tariffs announced on nations by Trump last week come into effect.
"Reciprocal tariffs take effect at midnight tonight! Billions of dollars, largely from countries that have taken advantage of the United States for many years, laughing all the way, will start flowing into the USA. The only thing that can stop America&rsquo;s greatness would be a radical left court that wants to see our country fail!&rdquo; Trump said in another post.
Last week, the White House announced that India will face tariffs of 25 per cent after Trump issued an executive order listing the various duties that Washington will impose on exports from countries around the world.
In the Executive Order titled &lsquo;Further Modifying The Reciprocal Tariff Rates&rsquo;, Trump had announced tariff rates for nearly 70 nations.
The 25 per cent &ldquo;Reciprocal Tariff, Adjusted&rdquo; imposed on India came into effect on Thursday.
The tariffs in the list ranged from 10 per cent to 40 per cent, with Japan being charged 15 per cent, Laos and Myanmar (40 per cent each), Pakistan (19 per cent), Sri Lanka (20 per cent) and the United Kingdom (10 per cent).
In addition to the 25 per cent tariff announced last week, Trump on Wednesday imposed another 25 per cent levies on India for its purchases of Russian oil, bringing the total duties slapped on India to 50 per cent, among the highest imposed by the US on any country in the world.
The additional 25 per cent duty will come into effect after 21 days or August 27.
India, responding to the tariffs, said that the targeting of India is unjustified and unreasonable.
India said that, like any major economy, it will take all necessary measures to safeguard its national interests and economic security.
On an additional 25 per cent tariff on India for Russian purchases, Indiaspora, a nonprofit US-based organisation of global Indian diaspora leaders across diverse professions, said in a statement that it believes the &ldquo;current setback" in what is otherwise an enduring, robust and broad-based people-to-people relationship will be temporary.
&ldquo;We remain optimistic that the ongoing discussions, when concluded, will reflect the aspirations of both nations and the global Indian diaspora that believes in them,&rdquo; Indiaspora said.
It stressed that with over five million Indian-Americans contributing meaningfully to the US economy, culture, and civic life, the diaspora serves as a living bridge between the world&rsquo;s two largest democracies.
&ldquo;We believe the US-India relationship is not just important&mdash;it is essential. As global dynamics shift, this economic partnership should stand as a cornerstone for stability, innovation, and progress in the 21st century,&rdquo; it said.
Ajay Bhutoria, an Indian-American community leader and former advisor to President Joe Biden, said he strongly opposes Trump&rsquo;s decision to impose a 50 per cent tariff on Indian goods. &nbsp;&ldquo;India supplies nearly half of America&rsquo;s affordable generic drugs. These tariffs will inflate prescription prices, hitting families, seniors, and small businesses hard. Everyday items&mdash;spices, lentils, Diwali clothing&mdash;will become pricier, with reports estimating apparel and footwear costs could rise 37%,&rdquo; he said.
Bhutoria noted that Trump granted China a 90-day tariff pause while targeting India, a key democratic ally, for its energy needs.
"This double standard risks undermining the robust USD 186 billion US-India trade partnership and our shared goal of reaching USD 500 billion by 2030.&rdquo; He underscored that the US and India share a strong, vibrant partnership built on mutual respect, economic ties, and shared values.
&ldquo;We must work through these challenges together, not through divisive tariffs that hurt both nations. I urge both governments to prioritise dialogue and fair trade solutions that strengthen our alliance and keep costs affordable for our communities.&rdquo; Over the last few months, India and the US held several rounds of negotiations for a bilateral trade deal, but it could not be sealed in view of sharp divergences in certain critical areas, including agriculture and dairy.&nbsp;

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