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Time of India
18 minutes ago
- Time of India
Donald Trump Threatens To 'Substantially Increase' Tariffs On India Over Russian Oil
U.S. President Donald Trump has threatened steep tariffs on India, accusing it of profiting from the Ukraine war by buying and reselling Russian oil. A 25% tariff on Indian imports is set to take effect on August 7, with further penalties possible. Despite the warning, India remains firm on its energy strategy, citing market-based decisions. Russia now supplies nearly 40% of India's crude oil, up from just 2.5% before the war. The government says refiners will continue sourcing oil commercially, prioritizing energy security. The move places India in a diplomatic bind as it balances strategic autonomy with mounting U.S. pressure.#donaldtrump #indiatariffs #russianoil #trumpsocial #ukrainewar #crudeoil #energysecurity #geopolitics #tradepolicy #toi #toibharat Read More
Time of India
18 minutes ago
- Time of India
PB Balaji to take the wheel as JLR CEO — First Indian to lead iconic automaker
Tata Motors has announced P.B. Balaji as the new CEO of Jaguar Land Rover, effective November 17, 2025, making him the first Indian to lead the luxury automaker. He succeeds Adrian Mardell, who is retiring after 35 years. Balaji's appointment comes as Tata Motors undergoes a demerger and JLR navigates its electric transition. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: Tata Motors has appointed P.B. Balaji as the next Chief Executive Officer of Jaguar Land Rover (JLR), effective November 17, 2025, the company said in a notification to the stock exchanges. With this, Balaji becomes the first Indian to lead the British luxury automaker, marking a symbolic and strategic milestone for both JLR and Tata Motors , its parent will succeed Adrian Mardell , who will retire after three years at the helm and 35 years of dedicated service to the company. Mardell is credited with leading a sharp turnaround at JLR during an era of electric transition and global announcement comes at a pivotal time not only for JLR but also for Tata Motors, which is currently in the process of demerging its passenger vehicle and commercial vehicles businesses. from Indian stock exchanges. As a result of this ongoing transition, the company may no longer require a Group Chief Financial Officer, a role Balaji has held since move to JLR, therefore, may also reflect an evolving corporate structure within the Tata automotive ecosystem . It is set to list its CV business in October this year.N. Chandrasekaran, Chairman of Tata Sons, Tata Motors, and JLR, stated: 'I would like to thank Adrian for his stellar leadership and record-setting performance. I am delighted to appoint Balaji as his successor. He knows JLR intimately and is well positioned to carry forward the 'Reimagine' strategy.'Balaji, an alumnus of IIT-Chennai and IIM-Kolkata, brings with him 32 years of global experience in the automotive and consumer goods sectors, having led large multicultural teams across Mumbai, London, Singapore, and Switzerland. His financial acumen and strategic leadership have been instrumental in Tata Motors' successful transformation on his new role, Balaji said: 'It is my privilege to lead this iconic company. Over the past eight years, I've come to deeply admire JLR and its exceptional brands. I look forward to the road ahead with optimism and purpose.'Since Tata Motors acquired JLR in 2008, the automaker has seen four CEO transitions–David Smith, Ralf Speth,Thierry Bolloré, and Adrian Mardell. Balaji's appointment represents both continuity and change as JLR navigates its next phase of electrification, innovation, and global repositioning.
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Business Standard
18 minutes ago
- Business Standard
Donald Trump threatens tariff hike on India over Russian crude oil
US President Donald Trump on Monday stepped up pressure on New Delhi, threatening to 'substantially' raise tariffs on inbound shipments from India over the purchase of a 'massive' amount of Russian crude oil. The development came days after Trump announced a sweeping 25 per cent import tariff on Indian goods and an unspecified penalty for Russian energy purchases. Trump, however, is yet to specify the quantum of the tariff. '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. They don't care how many people in Ukraine are being killed by the Russian war machine. Because of this, I will be substantially raising the tariff paid by India to the US. Thank you for your attention to this matter!!! President DJT,' Trump wrote on social media platform Truth Social. India imports a third of its total crude from Russia, making the country New Delhi's largest crude supplier. India is also the second-largest buyer of Russian crude, after China. India imported about 1.75 million barrels per day of Russian oil from January to June this year, up 1 per cent from a year ago, according to news agency Reuters. During 2024–25, exports of petroleum products from India fell by a fourth to $62.5 billion, government data showed. The US has repeatedly accused India of financing Russia's war in Ukraine by buying crude from Moscow. In the past, Trump had threatened 100 per cent tariffs on US imports from countries that buy crude from Russia unless Ukraine and Moscow reach a peace deal. India, on the other hand, has been buying discounted Russian crude for over three years and has defended its decision, saying it has been trying to get the best deal for the country to manage high energy prices. Besides, it has helped avoid a global surge in oil prices, which have remained subdued despite Western curbs on the Russian oil sector. Last week, Indian government sources said that New Delhi would keep purchasing oil from Russia and that there would be no immediate changes, despite Trump's threats of penalties. 'These are long-term oil contracts. It is not so simple to just stop buying overnight,' they said, justifying India's oil purchases from Russia. On Friday, Foreign Ministry spokesperson Randhir Jaiswal said India has a 'steady and time-tested partnership' with Russia. 'On our energy sourcing requirements... we look at what is available in the markets, what is there on offer, and also what is the prevailing global situation or circumstances,' he said.
