The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading around 24,757 level, a discount of nearly 37 points from the Nifty futures’ previous close.

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.