India has rejected Australia's push for deeper tariff cuts on dairy and alcohol, hampering efforts to conclude the second phase of a trade pact by year-end, two Indian government sources said.

US President Donald Trump said he is "strongly considering" supporting a proposed sanctions bill that would impose a 500 per cent tariff on countries like India and China that continue purchasing Russian energy products.

The pause on the biggest of Trump's tariffs won't end this week, but the president continues to pledge steep new duties against major countries.

Passengers flying in and out of Delhi and Mumbai may soon face higher airport charges after a tribunal allowed GMR and Adani Airport Holdings to include non-aeronautical revenue in tariff calculations — a move set to boost operator earnings but increase fares by up to 6 per cent over the next decade.

The Indian rupee is likely to open marginally higher on Tuesday, helped by the calm in Asian markets despite U.S. President Donald Trump imposing higher tariffs on South Korea and Japan among others.

Blunt letters dictating terms posted to social media and changes late in negotiations have left trading partners wondering what President Trump will do next.

Trump, who has called Bolsonaro a friend, had hosted him at his Mar-a-Lago resort back in 2020, when both were in office.

Sumeet Jain, CLSA's senior research analyst, discusses the upcoming earnings season for Indian IT companies. He warns that TCS' earnings print was a "clear reflection" that generative AI will not bring about non-linear growth for IT service companies.