Overview

• President Donald Trump has set tariffs on Indian goods at 50%, including an extra 25% tied to Russian oil purchases, with the new rate taking effect on August 27.
• S. Jaishankar met Vladimir Putin and Sergei Lavrov in Moscow and described India–Russia ties as among the most stable since World War II.
• India’s foreign minister invited Russian companies to partner with Indian firms, citing Make in India and new opportunities in sectors such as fertilizers, chemicals and machinery.
• Jaishankar prioritized removing non‑tariff and logistics barriers and advanced work on the North–South corridor, the Northern Sea Route and the Chennai–Vladivostok link.
• Russian officials said oil sales to India will continue with a 5% discount, as bilateral trade rose from $13 billion in 2021 to $68 billion in 2024–25 alongside an Indian deficit of roughly $59 billion.