India has informed the WTO of its plan to impose retaliatory duties on the US in response to steep American tariffs on auto imports. The move comes as both countries attempt to finalise a trade deal by July 9,

India's equity benchmarks are likely to open higher on Wednesday following U.S. President Donald Trump's remark that the world's largest economy could reach a trade deal with India. U.S. Treasury Secretary Scott Bessent has indicated that both nations are nearing an agreement that would help India avoid sharp tariff increases.

As anticipation builds over an interim trade deal between India and the United States, President Donald Trump has signalled a fresh salvo in his aggressive trade policy. Speaking on Thursday, Trump revealed that Washington would begin dispatching letters to nations worldwide,