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India is concerned at the moves of American President Joe Biden to remove the punitive customs duty rates imposed by Trump three years ago against import of Chinese goods.
Sources have said the party is weighing options considering domestic politics and international diplomacy in mind.
In an interview with PTI, Tharoor said the irony is that in recent years the Indian government has taken impressive steps to strengthen relations with Islamic countries, but that now is at risk of being seriously undermined.
Russian-backed separatists already controlled swathes of territory in Luhansk and the neighbouring Donetsk province before the Feb. 24 invasion, but Moscow wants to seize the last remaining Ukrainian-held territory in Donbas.
According to the Ukrainian Education Ministry, there had been 18,095 Indian students studying there before the Russian invasion.
Counsellor in India's Permanent Mission to the UN Pratik Mathur said that India continues to remain deeply concerned at the worsening situation in Ukraine and reiterated the call for the immediate cessation of violence and end to hostilities.
Speaking at the UNSC briefing on Ukraine on Thursday, India's Permanent Representative to the UN Ambassador T S Tirumurti said India remains on the side of peace.
India is clearly out of sync with European opinion, and it was good that the PM went to Europe to discover for himself first-hand how strongly countries feel about this issue.
He further said both countries have decided to enhance cooperation in the defence sector.
Shehbaz Sharif said he wanted good relations with India, but it cannot be achieved without the resolution of the Kashmir issue.