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New US ambassador to India pushes for deeper trade ties despite tension over Russian oil

NEW DELHI, January 12, 2026 (AP) — The U.S. and India are actively engaged on a bilateral trade agreement to deepen economic and strategic partnership, the U.S. ambassador-designate to New Delhi said Monday. Since Russia’s full-scale invasion of Ukraine in February 2022, India has emerged as the second biggest buyer of Russian crude after China, upsetting the Trump administration, which criticized the purchases as helping fuel Moscow’s war machine. In August, President Donald Trump signed an executive order to place an additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United

General Budget on Sunday February 1: Lok Sabha Speaker Om Birla

New Delhi, Jan 12 (PTI) In a first, Finance Minister Nirmala Sitharaman will present the general budget in Parliament on Sunday, February 1, Lok Sabha Speaker Om Birla announced on Monday. This will be Sitharaman’s ninth budget presentation, one short of the record 10 budgets presented by the then finance minister Morarji Desai. The Budget session of Parliament begins on January 28 with President Droupadi Murmu addressing the Lok Sabha and the Rajya Sabha members assembled in the Lok Sabha chamber. Sitharaman is likely to present the Economic Survey in both the Houses of Parliament after the president’s address. The

Retail inflation rises to 1.33 pc in Dec: Govt data

New Delhi, Jan 12 (PTI) Retail inflation rose to a three-month high of 1.33 per cent in December 2025 mainly due to higher prices of kitchen essentials, including vegetables and protein-rich items. The inflation was at 0.71 per cent in November. The previous high was 1.44 per cent in September. The food inflation, based on Consumer Price Index (CPI), remained negative for the seventh consecutive month at (-) 2.71 per cent, though up from (-) 3.91 per cent in November. “The increase in headline inflation and food inflation during the month of December, 2025 is mainly attributed to increase in

Market benchmarks snap five-day losing run; Sensex gains 300 pts

Mumbai, Jan 12 (PTI) Equity benchmark indices Sensex and Nifty found firmer ground on Monday after facing a massive drubbing in the past five trading sessions, propelled by bargain hunting in energy, banking and metal stocks. However, escalating geopolitical tensions and unrelenting foreign fund outflows capped the sharp gains, traders said. The 30-share BSE Sensex climbed 301.93 points, or 0.36 per cent, to settle at 83,878.17. During the morning trade, it tumbled 715.17 points, or 0.85 per cent, to 82,861.07, breaching the 83,000 level. The 50-share NSE Nifty edged higher by 106.95 points, or 0.42 per cent, to 25,790.25. The

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