<h1>Ratings firm warns 25% tariff hike (to 50%) on oil purchases may curb private corporate capex despite government investment</h1> A ratings firm warned that uncertainty from additional tariffs imposed by a major importing economy may dampen private corporate capital expenditure in the current fiscal year, despite government-led investment and generally healthy corporate balance sheets. The firm said the new 25-per-cent levy (bringing total tariffs to 50%) on the country's oil purchases is likely to hit sentiment, compounding supply-chain disruptions from geopolitical tensions and persistent domestic cost inefficiencies such as high power and land costs. The report noted that free trade agreements and new FTAs with other partners could restore predictability and support fresh investment.