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In FY25, India exported approximately $14.3 billion worth of petroleum products to the European Union (EU), a slight decrease from the previous year. This marks the first anticipated decline in export earnings since FY23, as ICRA's latest report suggests that the EU's 18th sanctions package may limit Indian refiners' access to the EU market. The sanctions specifically target products derived from Russian crude oil processed in third countries, impacting nations like India, Turkey, and the UAE, which have been supplying refined products to Europe amid reduced Russian supplies due to the ongoing Russia-Ukraine conflict. Despite this, ICRA notes that Russian crude discounts may increase following the EU's recent price cap adjustments. While Russian oil accounts for about 7% of global consumption, Brent crude prices have remained stable, indicating limited immediate supply disruptions. ICRA forecasts crude prices to average between $65 and $75 per barrel in FY26. 
Published: Jul 30 2025, 12 pmeznews.inPunjab National Bank's Managing Director and CEO, Ashok Chandra, has assured that lower guidance for deposit growth will not hinder credit growth this fiscal year, despite a projected deposit increase of only 9-10%. He noted that the bank's credit growth is expected to reach 11-12%, supported by a current credit-deposit ratio of 71.24%, indicating ample room for lending. Chandra attributed a 48.7% drop in net profit to a recalibration of Deferred Tax Assets following the bank's transition to a new tax regime, while operating profit reached an all-time high due to a robust treasury book and increased processing fees. The bank has also seen a 51.4% rise in slippage in the MSME segment, primarily from loans under ₹10 lakh, prompting a shift to a fully digital loan process for amounts up to ₹25 lakh. Additionally, the removal of penalties for non-maintenance of minimum balances is expected to be offset by growth in the savings account segment.
Published: Jul 31 2025, 10 ameznews.inUS President Donald Trump has announced a 25% tariff on Indian exports starting August 1, a move expected to significantly impact various sectors, including electronics, pharmaceuticals, jewelry, and auto components. Trump criticized India's high tariffs and non-monetary trade barriers, while also hinting at further penalties related to India's energy purchases from Russia. This decision undermines India's hopes for preferential trade treatment, especially after Prime Minister Narendra Modi's recent visit to Washington. Approximately 10% of India's exports could be affected, with the gems and jewelry sector particularly vulnerable, as the US accounts for over $10 billion in exports from this industry. The pharmaceutical sector, which supplies a significant portion of US prescriptions, and the textiles industry, which serves major US retailers, are also likely to face challenges. Additionally, Indian refiners could see profit margins squeezed due to rising costs if Russian oil imports are impacted.
Published: Jul 31 2025, 10 ameznews.inIndia's oil imports from Russia reached approximately 1.63 million barrels per day last year, accounting for over a third of its total imports. However, Indian refiners are now facing increased pressure from the US and EU, which are intensifying efforts to curb Russian energy flows. This shift follows criticism from former President Donald Trump regarding India's purchases of Russian energy and weapons, coinciding with a proposed 25% tariff on Indian exports. In response, state-owned refiners are urgently seeking alternative crude sources, issuing tenders for prompt deliveries, a departure from their usual mid-to-late October schedules. Bharat Petroleum has also turned to Middle Eastern and West African crude. The EU's impending ban on diesel imports made from Russian crude further complicates matters, leaving Indian processors seeking clarity from the government on how these geopolitical developments will impact their operations amid rising prices and diminishing Russian supplies.
Published: Jul 31 2025, 10 ameznews.inIn a provocative social media post, US President Donald Trump criticized India's relationship with Russia, stating, "I don’t care what India does with Russia. They can take their dead economies down together, for all I care." This remark came shortly after he announced a significant 25% tariff on imports from India, highlighting ongoing tensions over trade policies. Trump further expressed frustration with India's high tariffs, which he described as among the highest globally, asserting that the US has conducted minimal business with the country. His comments reflect a broader discontent with India's economic practices and its geopolitical alliances, particularly with Russia, as the US continues to navigate complex international trade relationships. The remarks underscore the challenges facing US-India relations amid rising protectionism and strategic realignments.
Published: Jul 31 2025, 10 ameznews.inThe Finance Ministry has announced a concessional fee rate of 0.1% for government guarantees on borrowings by the National Bank for Financing Infrastructure and Development (NaBFID) from multilateral institutions and foreign entities. This rate may be further reduced for specific government-mandated borrowings, contingent on a request from NaBFID detailing the borrowing specifics. The guarantee fee is payable upon securing the guarantee and annually thereafter. Established in April 2021, NaBFID aims to enhance India's infrastructure financing landscape and has recently received credit ratings of Baa3 from Moody’s and BBB- from Fitch, both aligning with India's sovereign rating. These ratings reflect NaBFID's strong financial position and governance, positioning it to attract offshore funding on favorable terms. Managing Director Rajkiran Rai G. emphasized that these ratings validate the institution's strategic vision and its critical role in India's infrastructure development.
Published: Jul 31 2025, 9 ameznews.inIndia's pivotal role in the global supply chain for affordable, high-quality medicines, particularly in the generic drug sector, is under threat following President Donald Trump's announcement of a 25% tariff on all goods from India, effective August 1. The Pharmaceuticals Export Promotion Council of India (Pharmexcil) warned that this move will lead to increased costs for essential drugs in the US, adversely affecting consumers and healthcare systems. Pharmexcil Chairman Namit Joshi highlighted that India supplies nearly 47% of the US's pharmaceutical needs, including critical medications like oncology drugs and antibiotics. He cautioned that any disruption in this supply chain could result in shortages and rising prices, with the US facing significant challenges in sourcing alternatives that match India's scale and affordability. Transitioning pharmaceutical manufacturing to other countries or domestic sources is expected to take at least 3-5 years, further complicating the situation.
Published: Jul 31 2025, 9 ameznews.inThe Trump administration has imposed sanctions on six Indian companies for their substantial transactions involving Iranian petrochemical products, as part of a broader effort to curb Iran's funding of terrorism and regional destabilization. The U.S. State Department announced sanctions on 20 global entities engaged in the Iranian petroleum trade, emphasizing that any country or individual purchasing Iranian oil risks U.S. sanctions. The designated Indian firms include Kanchan Polymers, Alchemical Solutions, and Ramniklal S Gosalia & Co, among others, with transactions valued in the millions. The sanctions block all U.S. property and interests of the designated entities. Additionally, the U.S. Treasury has targeted over 50 individuals and entities linked to Mohammad Hossein Shamkhani, a key advisor to Iran's Supreme Leader, marking the largest Iran-related action since 2018. The U.S. aims to maintain pressure on Iran until it agrees to terms that promote regional peace and abandon nuclear ambitions.
Published: Jul 31 2025, 8 ameznews.inNutrify Today, an innovative AI platform, is revolutionizing the nutraceutical industry by directly linking small farmers with over 2,300 supply chain and nutraceutical manufacturers. Founded by Amit Srivastava, the platform utilizes its AI engine, Neutrify Genie AI, trained on 3.6 million data points, to guide farmers on what to cultivate based on predicted market demand for ingredients like quercetin and lycopene. Farmers can easily access leads for their produce without intermediaries, enhancing their revenue potential. Nutrify aims to establish itself as a major player in the $3 trillion food tech and nutraceutical ecosystem, with plans for last-mile traceability and compliance through partnerships with NGOs. With operations in India and the US, Srivastava envisions India becoming a global leader in nutraceuticals, projecting the industry to grow from $22 billion to a target of $100 billion in the coming years.
Published: Jul 31 2025, 9 ameznews.inIndia's dependence on Russian oil has surged dramatically from 0.2% of its total crude imports before the Russia-Ukraine war to 35-40% currently, making Russia its largest supplier. This shift occurred after the invasion of Ukraine in February 2022, as India capitalized on discounted Russian oil that Western nations began to shun. In June 2022, Russia overtook Iraq as India's top oil supplier, and imports peaked at 2.15 million barrels per day in May 2023. Amidst this, U.S. President Donald Trump announced a 25% tariff on all Indian goods, citing India's significant military and energy ties with Russia. Despite Western sanctions, India's oil purchases have been economically motivated, with refiners processing Russian crude and exporting the products to countries that have banned direct imports from Russia. Throughout the conflict, India has maintained a neutral stance, prioritizing its energy security and economic interests.
Published: Jul 30 2025, 10 pmeznews.inUS President Donald Trump's recent announcement of a 25% tariff on Indian goods has sparked significant concern within India's industrial sector, with experts warning of potential economic repercussions. The tariff, which exceeds the baseline increase in US tariffs from 10% to 15%, is expected to heavily impact key sectors such as gems and jewelry, electronics, pharmaceuticals, and textiles. Economists predict that if no trade agreement is reached by September, India's GDP growth could be downgraded by 20 basis points. The US is a crucial market for India, accounting for over $10 billion in jewelry exports alone. Industry leaders express fears that the tariffs could disrupt supply chains and threaten livelihoods, while some remain cautiously optimistic about future trade negotiations. The Federation of Indian Chambers of Commerce and Industry (FICCI) expressed disappointment but hopes for a swift resolution to restore trade balance.
Published: Jul 30 2025, 9 pm
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