Economy, business and finance
India news: US bill sanctioning Russia could hit India with tariffs of up to 100%
A new bill could give President Trump the power to impose tariffs of up to 100% on countries buying Russian oil and gas, potentially affecting major importer India.

This blog is now closed. It was a roundup of some of the top headlines from across India on Wednesday, September 16:
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India's goods trade deficit narrows as gold imports fall
India's goods trade deficit narrowed unexpectedly to $26.86 billion (€23.28 billion) in August, government data showed on Tuesday, as a sharp drop in gold imports offset a slight decline in exports.
While total imports fell to $70.67 billion from $76.22 billion, gold imports nearly halved to $2.3 billion from $4.16 billion in July.
In recent weeks, Prime Minister Narendra Modi had renewed calls for Indians to avoid buying gold unless necessary and postpone non-essential foreign travel, as he promotes self-reliance amid global disruptions to trade, energy markets and supply chains following the Iran war.
Meanwhile, crude oil imports rose 25.8% year-on-year to $16.69 billion.
Total goods and services exports rose nearly 25% year-on-year to $82.68 billion, according to the trade ministry.
The US remained the top destination for Indian exports.
2 women killed in ongoing Manipur violence
Two women were killed in the northeastern Manipur state, police said on Wednesday, bringing the civilian death toll from three weeks of ethnic violence to 10.
The women were killed near their home in Tamenglong district on Tuesday, about 150 kilometers (93 miles) west of the state capital, Imphal.
Police said the attack appeared linked to recent clashes between Naga and Kuki groups.
Ethnic violence between Manipur's predominantly Hindu Meitei majority and mainly Christian Kuki minority has killed more than 250 people since it erupted in 2023.
Recent clashes have also involved Naga groups.
The latest killings came days after eight people died in three separate incidents across the state.
Authorities have struggled to restore calm, despite efforts by the Indian government.
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After 10 years, India introduces UPI charges for merchants
Ten years after the launch of the popular instant digital payment system Unified Payments Interface (UPI), the Indian government announced charges on transactions on Tuesday.
However, the charges will only be on merchants and payments between two individuals remain free.
The charges, known as the Merchant Discount Rate (MDR), are taking effect from October 15.
Last month, the Indian parliament passed a bill allowing the government to levy charges on UPI.
According to the National Payments Corporation of India (NPCI), the MDR framework will enable further investment in "infrastructure resiliency, innovation, cybersecurity and customer service."
As of June, India had 554.9 million UPI users, according to NPCI. Meanwhile, UPI transactions worth ₹29,82,355.95 crore (about €269.3 billion) were recorded in August, NPCI data showed.
Some experts fear the new charges could prompt merchants to shift back toward cash payments.
India protests 'unacceptable and unprofessional conduct' by Pakistan Navy
India on Wednesday summoned Pakistan's top diplomat to protest what it called "unacceptable and unprofessional conduct" by Pakistani naval units that led to a collision with an Indian warship in the Arabian Sea, India's Foreign Ministry said in a statement.
According to India, a Pakistani naval ship approached its warship at high speed, causing a collision on Tuesday in international waters. No major damage was reported.
The Indian ship was on a routine surveillance mission, officials said.
"The Charge d'Affaires of Pakistan was advised to convey to the concerned Pakistani authorities, the need for all military units to observe due care and respect the provisions of the relevant agreements between the two sides in order to prevent any repeat of such incidents," the ministry said.
India said the incident violated a 1991 agreement requiring the countries' naval vessels and submarines to maintain a distance of at least three nautical miles in international waters.
Pakistan has not issued a statement regarding the incident.
This incident marks the first overt military tension between the nuclear-armed rivals since their four-day conflict last year, which threatened to turn into a full-blown war.
US bill sanctioning Russia could adversely impact India
India-US ties could come under pressure as the US lawmakers consider a Russia sanctions bill that would allow President Donald Trump to impose tariffs of up to 100% on countries buying Russian oil and gas. India, a major consumer of Russian energy, could be affected by the measure.
The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 cleared a key procedural hurdle in the House of Representatives on Tuesday in a 214-211 vote, media reports said. The House is expected to hold a final vote on Wednesday.
The bill, imposing sanctions on Russia's leadership, energy and defense sectors and "shadow fleet" accused of helping Moscow evade oil sanctions, was passed by the Senate last month.
If approved by the House, the bill would go to Trump to be signed into law.
The proposed tariffs seek toincrease economic pressure on Moscow by targeting countries that continue buying Russian energy.
While India and Russia ties have grown stronger since the start of the war in Ukraine, driven largely by Russian oil exports, the same cannot be said of India-US relations under Prime Minister Narendra Modi as tensions mounted over New Delhi's purchases of Russian oil.
Last August, Trump imposed an additional 25% tariff on Indian imports over those purchases, on top of a 25% reciprocal tariff.
However, the additional Russia-related tariff was removed in February 2026, while the reciprocal tariff was reduced to 18% as part of a US-India trade framework.
However, the landmark bilateral trade agreement between the two countries remains in limbo, with no significant breakthrough.
Hello! This is Shakeel from DW's New Delhi Studio bringing you the top updates from across India.
India-US ties under Prime Minister Narendra Modi and President Donald Trump could come under pressure as a Russia sanctions bill being debated by the US House of Representatives would allow Trump to impose tariffs of up to 100% on countries that purchase Russian oil and gas. This is where India comes in, as one of the major consumers of Russian energy.
Meanwhile, India's instant payment system, the Unified Payments Interface (UPI), is set to be charged for the first time since its launch 10 years ago. However, the government is levying charges only on merchants, not individual users.
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