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.

Just a day after Trump’s harsh new tariffs on India, NSA Ajit Doval met Russian President Vladimir Putin in Moscow to reaffirm and expand the India–Russia strategic partnership. With U.S. pressure mounting over Russian oil imports,

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.