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India.com
10 minutes ago
- India.com
What will be price of petrol, diesel if India stops importing oil from Russia? Prices of petrol, diesel will reach…,Indian customers will have to pay…
India-Russia relations- File image New Delhi: In a significant update amid the trade talks between India and the US and Donald Trump imposing an additional 25% tariff on India, taking the total tariff to 50% due to India's continued crude oil purchase from Russia, reports are now talking about the inflationary impact if India stops buying oil from Russia. Notably, Russia become India's largest oil supplier since the Russia-Ukraine war and is currently supplying 35% to 40% of India's oil needs. Why Donald Trump imposed tariffs on India? In a massive action against India, the United States, under the leadership of Donald Trump imposed tariffs on India as India continued to purchase crude oil from Russia. In response to the move, India clarified its stand and said that it buys Russian oil because Europe stopped sourcing from Moscow. How much loss will India face if Russia cuts imports? As per experts, if India cuts Russian import of crude oil to India, India will have to rely more on costlier oil from West Asia, Africa, the US, and Latin America, which will pose technical, economic, and strategic challenges. More notably, the shifting could raise annual costs by Rs 25,000–40,000 crore for Indian refiners, which would ultimately hit the budgets of Indian consumers. Earlier, a SBI report has also indicated that the fuel bill might increase by USD 9 billion in FY26 and USD 11.7 billion in FY27 if Russia cuts its crude oil imports to India. US President Trump on whether US will impose additional 25 pc tariffs on India? In a significant statement and a matter of good news for India, US President Trump said the US may not impose secondary tariffs on countries continuing to buying Russian crude oil. Speaking to Fox News aboard Air Force One en route to Alaska, he said that, 'Well, he (Vladimir Putin) lost an oil client, so to speak, which is India, which was doing about 40 per cent of the oil. China, as you know, is doing a lot…'. (With inputs from agencies)
Time of India
24 minutes ago
- Time of India
Kunnukara panchayat gets govt nod to set up food processing park
Kochi: A food processing park is set to come up at Kunnukara grama panchayat in Kalamassery constituency, with state govt granting administrative sanction for the project. Industries minister P Rajeeve said the 37.5-acre park will open new avenues for farmers by ensuring better value addition and market access for their produce. The minister made the announcement while inaugurating Farmers' Day celebrations, organized by Alangad Krishi Bhavan, at Kottappuram KEMH School on Sunday. He said in private sector, LuLu Group will establish a food processing facility on HMT campus in Kalamassery with an investment of around Rs 500 crore. "Once operational, the project will help increase agricultural income by connecting farm produce with modern processing and value-addition facilities. It will significantly strengthen agricultural economy of the state," Rajeeve said. According to Rajeeve, agricultural revival efforts in Kalamassery have proved successful, with paddy cultivation reintroduced across more than 1,000 acres. Alongside paddy, farmers in Alangad have diversified into production of jaggery, arrowroot powder and sweet potato powder, which are now reaching local market. Highlighting govt's push to strengthen farm-to-market linkages, Rajeeve announced that Farm to Home scheme which delivers freshly harvested vegetables and other produce directly to households will begin operations this month with the launch of its first vehicle. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Could This NEW Collagen Blend Finally Reduce Your Cellulite? Vitauthority Learn More Undo "Such initiatives ensure that farmers get fair prices while consumers receive safe, fresh produce at their doorstep," he said. According to officials from Kunnukara panchayat, food processing park is expected to attract private investment and create large-scale employment opportunities. The facility is also expected to enhance storage, processing and distribution capabilities for a variety of crops, giving farmers greater stability against market fluctuations. The minister said combined impact of the upcoming park and existing agricultural projects would help rebuild confidence in farming and make it a sustainable livelihood in the region. Inauguration ceremony was attended by local elected representatives, govt officials and farmers. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
India.com
40 minutes ago
- India.com
Bad news for Ratan Tata's TCS after massive layoffs, IT giant loses Rs 5.66 lakh crore due to..., worst phase for company since...
TCS is undergoing its worst crisis since the 2008 recession. (File) TCS market cap: Amidst the backdrop of the controversy surrounding its decision to cut more than 12,000 jobs in the current fiscal year, Tata Consultancy Services (TCS), India's largest IT services exporter, has witnessed a rout of its market cap, which slumped from Rs 16.57 lakh crore to Rs 10.93 lakh crore, a decrease of Rs 5.66 lakh crore. According to market analysts, TCS, the flagship company of the Tata Group, is going through it worst crisis since the 2008 recession, when it shares had fallen by 55 percent. TCS share prices have dipped 25 percent in 2025, and experts predict the current financial could be the worst in company's history if the downfall continues. Why TCS shares are falling? According to analysts, India's stock market has witnessed a turmoil over the past few months as foreign investors are withdrawing from the market in droves amid US President Donald Trump unleashing tariff war against India, and recently announcing 50% import duty on Indian exports. The IT industry, once considered a favorite for FIIs, is now witnessing a decline, with foreign investors reducing their stake in TCS from 12.35% in June 2024 to 11.48% in June 2025, which has resulted in the company's shares falling by over 25 percent in the current financial year. The Nifty IT index has fallen 25% so far this year, making it the worst-performing sector in the market as over half of the Rs 95,600 crore withdrawn from India by FIIs till July 2025 has come from IT stocks alone. Why mutual funds investment increased? Meanwhile, domestic mutual funds have raised their stake in TCS from 4.25% to 5.13%, making fresh purchases worth Rs 400 crore in the company, according to data. TCS' trailing PE declined from 41x to 20x, five-year CAGR stands at 8.5%, while stock CAGR is 6%, the data showed. Notably, India's IT sector has grown at a compounded annual rate of 12.5% over the last two decades, but has underperformed the Nifty over the last three to five years. TCS layoffs According to recent media reports, TCS is mulling to cut about 2 percent of its global workforce, which would result in over 12,000 TCS workers losing their jobs in the current financial year. The company's decision is being investigated, with Jefferies warning that TCS layoffs could result in a slowdown in execution in the near term and an increase in the workforce in the long term.
