India’s government is scrambling to contain the economic fallout from President Trump’s threatened tariff action.

Jaiswal argued that India only began importing oil from Russia after “traditional supplies were diverted to Europe after the outbreak of the conflict” before noting the U.S. appreciated this move at the time as it kept the “global energy markets” stable.

U.S. President Donald Trump again threatened on Monday to raise tariffs on goods from India over its Russian oil purchases, while New Delhi called his attack "unjustified" and vowed to protect its economic interests,

Vietnam’s Vinfast on Monday began production at a $500 million electric vehicle plant in southern India’s Tamil Nadu state, part of a planned $2 billion investment in India and a broader expansion across Asia.

Vietnamese electric vehicle maker VinFast Auto Ltd. sees its new India factory as key to entering South Asia, the Middle East and Africa, Asia Chief Executive Officer Pham Sanh Chau said, as it begins a $500 million push to crack the world’s third-biggest car market.

VinFast Auto (NASDAQ:VFS) reportedly sees its new India factory as key to entering South Asia, the Middle East, and Africa, Asia Chief Executive Officer Pham Sanh Chau said, as the electric vehicle maker begins a $500 million push to crack the world's third-biggest car market.