“India must rethink the purchases of Russian oil”: Nobeejit Bnerje Links to remove the American tariff.

The Nobel Prize -winning Appigit Panerji said that India should weigh whether the reduced oil from Russia is worth the cost after the US tariff sharply increased on Indian goods.

Last week, US President Donald Trump signed an executive order imposing an additional 25 % duty on Indian exports in response to the continuation of New Delhi’s purchases for Russian crude. The height, which drives into force on August 27, raises the total customs tariffs on India to 50 % – among the highest levels of Washington imposed on any country.

“We need to think hard if Russian oil imports deserve it, then we return to the United States to say, will they get rid of the customs tariff if we stop importing Russian oil,” Panerji told PTI on the sidelines of an event at BML Munjal University.

This step may affect about 27 billion dollars in the unacceptable Indian exports to the United States, leading to strengthening speculation that India may expand or stop Russian oil imports. India is currently the largest buyer of Russian crude, as it imports 1.6 million barrels per day in July. But refining refineries have not submitted any requests for August or September, as price discounts narrowed to only $ 2 a barrel.

In the fiscal year 25, India imported 88 million tons of Russian oil out of 245 million tons. Orders were already imprisoned in August and September before Trump’s announcement on August 7.

The escalation of customs tariffs comes in a commercial deal for the United States of Professional, as Washington demands more access to the Indian agricultural and dairy markets. Bnerjee suggested that India can also reconsider Chinese investment as part of the broader trade negotiations, noting Beijing’s need to manage its own relations with the United States.

On the wider economy, Bnerjee has drawn a realistic image, citing the presence of a medium -struggling layer, stagnant information technology sector salaries, and poor private investment. “Not good as we expected,” he said. “These are all issues that we did not deal with, and we are sitting on.”

(With PTI inputs)