The Reserve Bank of India on Wednesday kept the repo rate steady at 5.5% after three consecutive cuts, citing global tariff uncertainties. The FY26 growth forecast remains at 6.5%, while inflation projection is lowered to 3.1%.
Donald Trump claimed ignorance over continued US imports of Russian commodities after India hit back at criticism of its oil purchases from Moscow. The former US President reiterated plans to raise tariffs on India and others buying Russian energy.
National Security Advisor Ajit Doval is in Moscow to strengthen India-Russia defence cooperation amid growing US pressure over India’s Russian oil imports. The visit comes as President Trump threatens higher tariffs on Indian goods citing oil trade concerns.
