India warns of US trade friction over Lindsey Graham bill
India's finance ministry is sounding the alarm on growing trade friction with the US after the Lindsey Graham Bill.
The bill lets the US slap steep tariffs on countries like India and China that keep buying Russian oil.
All this is happening while global markets are shaky, thanks to the ongoing U.S.-Iran conflict driving up oil prices and making investors nervous.
India inflation up, reserves $765.9 billion
Even with these headwinds, India's economy is holding its ground.
Inflation has ticked up (retail at 4.82% and wholesale at 9.92%), driven in part by renewed fuel and power price pressures, but exports are staying strong and foreign reserves have hit $765.9 billion, enough to cover almost a year of imports.
The finance ministry says better governance and more competitiveness will be key for attracting investment, especially as global supply chains face new challenges and artificial intelligence investments shake things up.