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- Indian Oil Corp and Hindustan Petroleum Corp have jointly purchased 2 million barrels of Merey crude for supply in the second half of April, according to two trade sources conversant in the transaction.
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The Customs division launch came after US President Donald Trump signed an government order on Friday last week eliminating the 25 per cent tariff penalty imposed on India in August, 2025 over the purchase of Russian oil. This potential tariff hole has raised concerns about India’s competitiveness in the necessary thing US market, particularly in labour-intensive segments such as apparel manufacturing. While this marks a sharp reduction, the prospect of zero tariffs for Bangladesh could give its exporters a pricing benefit over Indian friends. Nifty 50 formed a Doji-like candle on the day by day chart, reflecting indecision amongst market participants. The Indian stock market benchmark indices, Sensex and Nifty 50, are prone to open higher on Wednesday, despite blended cues from world markets.
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