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Welcome to The morning report brought to you by Renil S Varghese — your quick dive into the top stories shaping the business world today. Fast, insightful, and to the point. Check out the top news for the day.
1 Trump asserts India would bring down Russian oil purchase to `almost nothing’ by year-end
US President Donald Trump has claimed that India will reduce its Russian oil imports to “almost nothing” by year-end, following US sanctions on Russian oil giants Rosneft and Lukoil. Trump said he discussed the matter with Prime Minister Modi, praising India’s cooperation. However, India’s Ministry of External Affairs has not officially responded, though sources say the sanctions are under review. India currently sources nearly 40% of its oil from Russia, drawn by earlier discounts. With those discounts shrinking and sanctions tightening, India faces complex decisions to balance energy needs and global pressures.
2.
The has approved ₹79,000 crore worth of proposals to boost India’s military capabilities. The Army will induct 2,408 Nag Mk-II missiles and 107 NAMICA vehicles, alongside electronic warfare systems and high-mobility logistics vehicles. The Navy will acquire landing platform docks, torpedoes, smart ammunition, and surveillance systems to enhance amphibious and anti-submarine operations. The Air Force will deploy autonomous swarm drones for precision strikes in electronic warfare zones. These acquisitions, developed largely by DRDO and Indian firms, aim to strengthen readiness across terrains and support joint operations, humanitarian missions, and national security.
3. Hindustan Unilever reports flat growth, declares ₹19 interim dividend
Hindustan Unilever posted a 2% rise in consolidated sales to ₹16,061 crore for Q2, while profit before exceptional items fell 4% to ₹2,482 crore. EBITDA dropped to ₹3,729 crore with margins down 90 basis points. However, reported profit rose 4% to ₹2,694 crore, boosted by a ₹273 crore one-time tax gain. The board declared a ₹19 interim dividend per share, record date November 7. Shares rose 1.79% post-results. The company also spent ₹51 crore on restructuring and ₹38 crore on acquisitions. Shareholders approved demerging the ice cream business into Kwality Wall’s, pending regulatory nod.
4. After years of defending food reserves at WTO, India inspires Germany, Brazil to emulate its model
Countries like Germany and Brazil are studying India’s food grain stocking model, even as India faces WTO opposition from the US and others over its Minimum Support Price (MSP) system. G-20 nations are now discussing food reserves for crisis preparedness. Brazil is exploring MSP-like support for small farmers, while Germany seeks a Covid-resilient food security model. A G-20 consensus paper is expected soon. Despite criticism, India defends its MSP policy as vital for farmer welfare and global food stability, asserting it doesn’t export rice from its procured stocks and operates within WTO’s Bali Interim Decision framework.
Published on October 24, 2025
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