India navigates a delicate balance, seeking a trade deal with the US while maintaining energy ties with Russia. Prime Minister Modi indicated a potential reduction in Russian oil purchases, signaling a willingness to work with Washington, though emphasizing the need for cost-effective energy supplies for consumers.
India tries to balance US, Russia ties in pursuit of Trump deal
India’s Ministry of External Affairs has refuted US President Donald Trump’s claim that Prime Minister Narendra Modi assured him of ending Russian oil purchases. The MEA stated no such telephonic conversation occurred, emphasizing India’s consistent priority to safeguard consumer interests in volatile energy markets.
US tariffs have impacted Indian exports, causing a sharp decline. However, India is actively diversifying its export markets and striking new trade deals. This strategy is showing positive results, with some sectors experiencing growth. While challenges remain, this situation presents an opportunity for India to build a more robust and balanced export portfolio for long-term […]
India’s latest import regulations see the prohibition of roasted Areca nuts valued below ₹351 per kilogram, a step aimed at stabilizing the market. Notably, this ban does not extend to imports by fully export-oriented firms in SEZs or those operating under the Advance Authorisation framework.
US President Trump claimed India will halt Russian oil buys, but Indian refiners await government clarity. Russia remains India’s top oil supplier, offering significant discounts. Abruptly stopping these imports is near impossible, with deliveries contracted months ahead. Refiners face economic and strategic trade-offs if Russian oil becomes inaccessible.
India and Brazil agreed to expand their existing preferential trade pact with Mercosur to boost economic ties. The two nations aim to conclude negotiations for a full-fledged agreement within one year, targeting a significant increase in bilateral trade to USD 20 billion over five years.
In a groundbreaking development, CMA CGM, the French maritime powerhouse, has set a precedent by commissioning six liquefied natural gas-powered ships from Cochin Shipyard Limited in India. This marks a significant milestone as it’s the first instance of the global shipping leader constructing vessels on Indian soil.
India is set to pour approximately Rs 80 lakh crore into its maritime sector by 2047, as outlined in the Maritime Amrit Kaal Vision 2047. This ambitious plan aims to bolster national maritime strength, with a significant portion of projects already completed or in progress. A new cargo berth is also being developed at New […]
In a strategic move towards economic collaboration, India is seeking a trade agreement with the United States that promises reciprocal advantages. Current negotiations are prioritizing the resolution of tariff discrepancies while enhancing energy trade.
India and China remain significant buyers of Russian fossil fuels. In September, India’s imports of Russian crude oil saw a decline. This comes as the United States urges India to reduce its reliance on Russian energy. China leads as the top importer of Russian crude, LNG, and coal. Turkiye also features prominently in these energy […]