CHINA OIL DEMAND
Trump’s tariffs could reduce India's GDP by 0.5%, says CEA Anantha Nageswaran
India’s CEA V. Anantha Nageswaran said US President Trump’s 50% tariffs could trim India’s GDP by 0.5–0.6% this year, with greater risks if extended. The tariffs hit exports like textiles and jewellery, India’s key US markets. Still, he maintained a 6.3–6.8% growth outlook, citing strong Q1 growth, tax cuts, low inflation, GST relief, and fiscal support.
India must build MSME, start-up ecosystems like China: Yogesh Pandit, Director, Pravriddhi at IISc
China has steadily built industrial clusters, enhanced logistics, and provided long-term incentives, enabling its industries to scale globally; India needs to chart a similar path, says Yogesh Pandit.
India's oil-demand growth set to outpace China, says Trafigura Group
India's oil demand is expected to surpass China's this year. This excludes China's strategic stockpiling. Urbanization and rising incomes are driving India's growth. China's crude consumption is slowing, except in petrochemicals. China's stockpiling supports global crude prices. Experts question if future demand can absorb increasing oil supply.
BrahMos, Akashteer and more: India eyes global arms market after showcasing weapons in Pakistan clash
The skies lit up during the four-day clash between India and Pakistan in May as drones were blasted from the air by missiles that showcased what New Delhi believes is a "new vision" of warfare. "The operation was a sign of the new art of warfare, a glimpse of a new vision, technological advancements and self-reliance," Defence Minister Rajnath Singh said in August.
China oil stockpiling helps offset global surplus, S&P Global says
China, the world's leading oil importer, has significantly increased its crude oil stockpiles this year, reaching a multi-year high. This aggressive stockpiling, estimated at 530,000 barrels per day, has helped absorb a global surplus created by increased OPEC+ production. China's current onshore crude oil inventories stand at approximately 1.4 billion barrels, exceeding global oil demand growth.
India waits before calling it a reset as Trump talks of ‘special relationship’ with PM Modi
Following weeks of trade tensions and tariff impositions, President Trump has softened his stance towards India, praising Prime Minister Modi and highlighting the "special relationship" between the two nations. Despite this, New Delhi is proceeding cautiously, awaiting more concrete signals from Washington before considering a return to normalcy in relations.
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Potus undoes some knots in ties; PM Modi responds in kind
Despite recent trade tensions, Prime Minister Modi and President Trump express mutual appreciation for the India-US partnership. Trump acknowledges their "special relationship," even while expressing disappointment over India's oil imports from Russia and imposing tariffs. Modi reciprocates Trump's positive assessment, emphasizing the forward-looking nature of their strategic alliance, signaling a potential thaw in relations.
Lower GST will boost India's economy significantly, says FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman announced a new dual-slab GST structure expected to significantly boost India's economy. The government is also preparing a package for US tariff-affected export sectors and relentlessly working on next-generation policy changes. While not directly addressing tariff issues, the GST reform is anticipated to spur demand and provide some relief to affected sectors.
5 world market themes for the week ahead
Global markets brace for a week of pivotal economic data from the U.S., China, and Japan, alongside key central bank meetings. Investors are keenly awaiting the U.S. inflation report, influencing potential Federal Reserve rate cuts. Political uncertainties in France and Norway add to the market's cautious sentiment.
Russian gas sales to China would not harm US, energy secretary says
U.S. Energy Secretary Chris Wright stated that he is not concerned about Russia selling gas to China. Russia and China recently approved the Power of Siberia 2 gas pipeline project. This move highlights Chinese President Xi Jinping's continued partnership with Moscow. It also shows disregard for Western demands. The partnership continues despite global concerns.
Buy, Sell or Hold: Nuvama recommends buy on NALCO; sees over 30% upside on Inox Wind
Antique remains upbeat on Nalco, citing strong demand prospects and capacity growth, while Nuvama is optimistic on Inox Wind, highlighting its restructuring efforts, healthy order book, and role as a fully integrated renewable energy player.
Reliance's Oil-to-Chemicals profit margins largely unaffected by Russian crude: Jefferies
Jefferies reports Reliance Industries' O2C profitability shows minimal dependence on Russian crude due to offsetting logistics costs. The company's O2C profitability is tracking a strong 15 per cent year-on-year growth in the first half of 2026, supported by firm auto fuel margins and European diesel spreads. Reliance maintains compliance with Western sanctions and can adapt to potential Russian crude sanctions.
Oil prices ease on surprise build in US crude stockpiles, OPEC+ to consider output hike
Oil prices dipped about 1% to a two-week low due to a surprise increase in U.S. crude inventories and expectations that OPEC+ may raise output targets. Weak U.S. economic data also fueled speculation of a Federal Reserve interest rate cut.
The energy transition is now a national security issue. Just ask India
India faces scrutiny over Russian oil imports, highlighting energy security concerns. The nation heavily relies on oil imports but is more self-sufficient in electricity, mainly from coal and renewables. While oil dependence seems strong, boosted by discounted Russian oil, India is pushing for electrification and renewable energy.
GST 2.0 is here: From namkeens to biscuits, your kirana basket just got cheaper
India's GST 2.0 slashes taxes on mass-consumed goods like namkeens and biscuits, aiming to ease household budgets and stimulate demand. This significant indirect tax reset, following income tax cuts, seeks to boost disposable incomes and reinforce consumption-led growth.
Trump begins to feel the heat for India bullying
Donald Trump's handling of US-India relations is facing intense criticism from both domestic and international circles, jeopardizing a long-standing bipartisan partnership. His imposition of tariffs, alignment with Pakistan due to personal business interests, and perceived disregard for India's strategic importance are raising alarms.
China’s chemicals makers reap reward of shift from oil to coal
Falling coal prices are reshaping China's chemicals sector, benefiting coal-based producers while oil-based counterparts struggle with overproduction and losses.
Russia says in talks to India for new deliveries of long-range S-400 missile systems
Russia and India are in discussions to increase deliveries of the S-400 surface-to-air missile systems, according to a Russian defense export official. India already possesses the S-400 system and seeks to expand cooperation in this area, with negotiations currently underway for new deliveries. Despite delays, Moscow is expected to deliver the final two units in 2026 and 2027.
Oil prices hold on to gains from US sanctions
Oil prices are stable in Asian trading. The market is awaiting the OPEC+ meeting. U.S. imposed sanctions on companies smuggling Iranian oil. U.S. crude oil stockpiles are expected to fall. Economic data is soft. China is holding a military parade. Xi Jinping, Vladimir Putin and Kim Jong Un are attending. China is challenging the U.S. with a new global order.
US tariffs could reshape trade flows across all commodities; silver may outpace gold in coming months: Peter McGuire
Silver prices are soaring, reaching a 14-year peak. Strong industrial demand is fueling this surge. Expectations of a US Federal Reserve rate cut are also contributing. Experts predict silver could climb further. Gold remains robust, but silver is expected to outperform it. Trade flows may shift due to potential US tariffs.
SCO Summit optics misleading; China still a strategic rival, warns Swaminathan Aiyar
Donald Trump's claim about India agreeing to reduce tariffs to "almost nothing" has been dismissed by economist Swaminathan Aiyar as unpredictable rhetoric. Aiyar argues that Trump's tariff war is more about geopolitics, stemming from India's stance on Russia and oil imports. Despite external pressures, India's economy shows resilience, with GDP growth surpassing expectations, indicating a capacity to withstand tariff pressures.
Pakistan will soon realise cost of having a foot in both US, China camps
Pakistan navigates a complex geopolitical landscape, balancing its alliance with China and renewed US interest. The US seeks Pakistan's cooperation on regional issues, potentially straining relations with Iran and China. This shift could reshape South Asian dynamics, impacting resource access and security concerns, particularly regarding Islamist groups and regional stability.
The green revolution is alive and well — just not in the US
Despite US policy shifts under President Trump that aimed to dismantle clean energy initiatives, global investment in renewable energy reached a record $386.5 billion in the first half of 2025. While US investment declined, Europe saw a significant surge, attracting capital reallocated from the US.
Oil holds in tight range, rising output offsets Russia supply disruptions
Oil prices remained range-bound on Monday, influenced by concerns over increasing production and potential demand reduction due to U.S. tariffs, offsetting disruptions from intensified Russia-Ukraine conflict impacting Russian oil exports. Ukrainian President's vow to retaliate Russian strikes adds to the uncertainty. Market anticipates the upcoming OPEC+ meeting on September 7 for insights into potential output increases, while U.S.
Oil will find its market, one way or another
US tariff policy differentiates between China's domestic use of Russian oil and India's exports, aiming to curb Moscow's oil production. However, restricting India's refining activities may only redirect oil flow to BRICS nations. The US risks diminishing its influence and the dollar's dominance in energy trade by antagonizing BRICS and failing to address global energy demand effectively.
"Using our dollars to buy Russian oil," Trump's trade adviser Peter Navarro justifies 50% tariff on India
White House trade adviser Peter Navarro has launched a fresh attack on India, accusing it of funding Russia’s war in Ukraine through oil imports while blocking US goods with steep tariffs. His remarks come as Washington’s 50% tariffs on Indian products take effect. India has rejected the charges, arguing that its energy choices are based on national interest.
Peter Navarro dubs Ukraine conflict as 'Modi's War'
The US has increased pressure on India regarding Russian oil imports. Peter Navarro accused India of supporting Russia's war efforts. He suggested India faces tariffs for not halting oil purchases. Navarro urged India, China, and Europe to stop buying Russian oil to end the conflict. He also cautioned India against aligning with China.
India's Russian oil gains wiped out by Trump's tariffs
India's increased Russian oil imports, saving billions, now face disruption due to new U.S. tariffs, potentially slashing exports and impacting jobs. This strains the delicate balance between India's vital partnerships with both Russia and the U.S., forcing a recalibration of its foreign policy amid geopolitical pressures and economic concerns. The situation could also embolden China as a counterbalance.
Why India won’t bend on Russian oil despite Trump’s tariff sting
Amid trade tensions, US President Trump imposed tariffs on India for purchasing Russian energy, escalating U.S.-India trade disputes. India, now facing high tariffs, defends its oil imports as economically vital. Despite Western sanctions on Russia, India has significantly increased its Russian oil purchases, benefiting from discounted prices and fueling its refining industry.
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