India's equity benchmarks are set to open higher on Friday, after last session's steep intraday losses, on optimism that a proposed U.S.-Russia presidential meeting next week could ease Washington's stance on India's energy engagement with Russia.

Diplomacy in times of war can shift in unexpected ways. Leaders make promises, draw red lines, and then sometimes step over them within hours. The latest example comes from Washington, where President Donald Trump changed his stance on how he would approach talks with Russian President Vladimir Putin.

Doval’s meetings in Moscow coincided with US President Donald Trump issuing an executive order that imposed an additional 25 per cent tariff on Indian goods as a penalty for buying Russian oil.