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‘India will never compromise': Amid Trump's tariff war, PM Modi says ready to ‘pay a heavy price'

‘India will never compromise': Amid Trump's tariff war, PM Modi says ready to ‘pay a heavy price'

First Post3 days ago
As the US continues to raise tariffs on India, Prime Minister Narendra Modi made it clear that India would never compromise on national interest, especially the interests of the country's farmers read more
As the US continues to raise tariffs on India, Prime Minister Narendra Modi made it clear that India would never compromise on national interest, especially the interests of the country's farmers.
'India will never compromise on the interests of its farmers, livestock rearers, and fishermen brothers and sisters. I know personally that I will have to pay a heavy price for this, but I am prepared for it,' the prime minister said in a statement on Thursday.
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'India stands firmly with its farmers, and I am ready to face whatever it takes for their welfare,' he averred. The remarks from PM Modi were seen as a stern reply to Trump's move to impose additional 25 per cent tariffs on Indian goods.
This is a developing story.
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Indian refiners can do without Russian oil, but with trade-offs
Indian refiners can do without Russian oil, but with trade-offs

Time of India

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  • Time of India

Indian refiners can do without Russian oil, but with trade-offs

Indian refiners, the world's biggest user of Russian oil, can operate without supplies from Moscow from a technical standpoint, but the shift would involve major economic and strategic trade-offs, analysts said. Russian crude supports high distillate yields - the share of crude converted into fuels like petrol, diesel, and jet fuel through distillation. Replacing Russian crude, which accounts for up to 38 per cent of India's refinery intake, with alternatives will shift yields, resulting in lower middle distillates (diesel and jet fuel) and higher residue outputs, according to global real-time data and analytics provider Kpler. US President Donald Trump last week announced an additional 25 per cent tariff on US imports from India -- raising the overall duty to 50 per cent -- as a penalty for the country's continued imports of Russian oil. Since the steep tariffs are likely to hit the USD 27 billion of non-exempt exports that India does to the US, there has been chatter around stopping or curtailing oil imports from Russia. "Indian refiners can operate without Russian crude from a technical standpoint, but the shift would involve major economic and strategic trade-offs," Kpler said in a report, 'US Tariffs on Indian Imports: Implications for Energy Markets & Trade Flows'. India turned to purchasing Russian oil sold at a discount after Western countries imposed sanctions on Moscow and shunned its supplies over its invasion of Ukraine in February 2022. Consequently, from a mere 1.7 per cent share in total oil imports in 2019-20 (FY20), Russia's share increased to 35.1 per cent in FY25, and it is now the biggest oil supplier to India. In terms of volume, India imported 88 million tonnes from Russia in FY25, out of the total shipment of 245 million tonnes. 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CM Siddaramaiah, Dy CM Shivakumar share pleasant moments with PM Modi during B'luru visit
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CM Siddaramaiah, Dy CM Shivakumar share pleasant moments with PM Modi during B'luru visit

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PM to launch Yellow Line Metro, Vande Bharat Express today
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Hans India

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  • Hans India

PM to launch Yellow Line Metro, Vande Bharat Express today

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