Gift Nifty was trading around 24,740 level, a discount of nearly 53 points from the Nifty futures’ previous close, indicating a weak start for the Indian stock market indices.

India's equity benchmarks opened little changed on Tuesday after U.S. President Donald Trump reiterated his threat of harsh tariffs on goods from India over its Russian oil purchases.

RBI is expected to hold its key rate at 5.50%. However, calls for a rate cut have also risen after the U.S. slapped 25% tariffs on goods from India.