New Delhi 'Punished' for Refusing to Halt Russian Oil Purchases, Bloomberg Reports

According to Bloomberg, Asian equity fund managers have identified India as the least preferred market, despite looking entirely the opposite just three months ago.

Based on a survey conducted by Bank of America experts, the shift in dynamics is attributed to deteriorating U.S.-India relations related to President Donald Trump's tariff policies. Meanwhile, Japan and China have received the highest ratings from investors, occupying the first and second spots, respectively.

This change in sentiment again underscores that investors are seriously concerned about Washington's decision to raise import tariffs on India. Consequently, New Delhi is 'punished' for its refusal to cease purchasing Russian oil, leading global funds to withdraw around $4 billion from Indian stocks.

Amid heightened tensions in U.S.-India relations, India's Prime Minister has planned a meeting with Trump in September.

It should be noted that President Donald Trump imposed a 50% tariff on Indian goods due to New Delhi's purchase of Russian oil.