India's total purchase of oil from Russia in a month is probably less than what Europe does in an afternoon, External Affairs Minister S Jaishankar said.
'Yesterday, I was at a seed meeting where we gave outright grants up to Rs 20 lakhs or loans up to Rs 50 lakhs for new start-ups under 2 years.'
International oil prices retreated from an over seven-year high but was still above $100 a barrel and continue to pose threat to India's inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states. The government is "closely monitoring the situation" and will "take appropriate steps as and when required", a top official said. Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine.
Notwithstanding how the current impasse is solved, at some point in the future, Russia will realise that just as centuries ago it developed the paradigm of securing its heartland's safety through annexing vast buffer zones between itself and the enemy, a more modern security is possible only through friendly relations and sustainable peace, observes Shyam G Menon.
Macron held a tete-a-tete with Modi before the delegation-level talks at the Elysee Palace - the official residence of the French president.
'A soft landing of the Indian economy would be a long-term positive for the equity markets.'
The sharp increase in commodity prices on account of the Russia-Ukraine war has put automakers in a fix. After the frequent price hikes in the current fiscal, manufacturers fear that any more price increases may further dent the already weak demand in certain segments. "We have taken several hikes and cannot immediately do it again. "We will have to closely watch the situation and act accordingly," said an official at an auto firm, declining to be identified. Even for companies like Tata Motors Passenger Vehicles, which has had a strong volume run and a robust order book, passing on the entire costs has been tough.
'Young working adults between 25 and 34, who are in Indian Tier II and III cities, are leading the charge in terms of crypto adoption.'
Petrol and diesel prices were on Tuesday hiked by 80 paise a litre while domestic cooking gas prices were increased by Rs 50 per cylinder, ending an over four-and-half month election-related hiatus in rate revision, sources said. Petrol in Delhi will now cost Rs 96.21 per litre as against Rs 95.41 previously while diesel has gone up from Rs 86.67 per litre to Rs 87.47. Simultaneously, the price of a non-subsidised LPG cylinder has been increased to Rs 949.50 for each 14.2-kg bottle in the national capital.
India always faces a Hobson's choice as far as feeding coal-fired generators goes - even if the government is reluctant to admit it. The country cannot do without shipping in the world's most polluting fuel from overseas. And it will continue to do so unless it decides to reduce demand by forcing citizens, farmers and businesses to live without electricity for part of the day, or use diesel generators to fire facilities.
The US hopes India will "reconsider" its decision to ban wheat exports, with Washington "encouraging" countries not to restrict exports as that will exacerbate food shortages, amidst Russia's invasion of Ukraine. India, the world's second-biggest wheat producer, has banned wheat exports in a bid to check high domestic prices amid concerns of wheat output being hit by scorching heat waves. The decision would help control retail prices of wheat and wheat flour, which have risen by an average 14-20 per cent in the last one year, besides meeting the foodgrain requirement of neighbouring and vulnerable countries.
India on Monday abstained from a procedural vote taken in the UN Security Council ahead of a meeting to discuss the situation on the Ukraine border.
External affairs ministry spokesperson Arindam Bagchi said at a media briefing that 1,396 Indians were brought back home in six flights in the last few days as part of the evacuation mission.
India believes no country would emerge victorious in the Russia-Ukraine war as all will suffer losses and there will be a "more serious" impact on developing and poor countries, Prime Minister Narendra Modi said on Monday after holding talks with German Chancellor Olaf Scholz as both leaders reiterated the need for an immediate cessation of hostilities.
Biden welcomed Prime Minister Modi at the Summit and said "it is wonderful to see you again in person".
Tirumurti said India 'has been in touch with all concerned parties. It is our considered view that the issue can only be resolved through diplomatic dialogue.'
The intensity of power crisis this season has hit a new high with average coal stock dipping to less than eight days. The first of a pan-Indian series, based on a ground report, shows how the Manesar industrial hub is coping with the challenge. As the scorching heat wave and the lengthy power cuts intensify in Haryana, the usually bustling labour chowk of the Industrial Model Township (IMT) of Manesar wears a deserted look.
If you are serious about countering the Chinese threat, then the best weapon is investing in real freedom, plurality, elections and democracy. Unfortunately, it isn't an approach all Indians currently seem to agree on, asserts Shyam G Menon.
'Washington appears to be playing the long game, and making the argument to India that over the longer term, Russia -- sanctioned, cash-strapped, isolated by the West -- will no longer be a viable defence partner for India'
The currency market won't care for our moans, groans, cries and sighs. The rupee will find its own level, explains Tamal Bandyopadhyay.
With inflation remaining at elevated levels, central banks around the world, including the Reserve Bank of India (RBI), will kill excess demand in economy over the next six to eight months, sources in the know said. They also indicated that there could be a rate hike in June, when the inflation forecast for the current financial year would be raised. The RBI, the sources said, might announce more steps such as raising the limit on held-to-maturity (HTM) bonds to support government borrowings but might not come out with any further quantitative easing GSAP (Government Securities Acquisition Programme) measures.
India's Permanent Representative to the UN Ambassador T S Tirumurti said India remains on the side of peace.
In its scheme of things, tackling inflation now comes ahead of ensuring growth in the world's sixth largest economy, points out Tamal Bandyopadhyay.
'Periods of high volatility are usually bad for mid-caps and this is something that has to be kept in mind.' 'Focus on quality is of paramount importance.'
'... as has been happening in the last three weeks, then the foreign exchange reserves will not be comfortable to ensure that the rupee does not fall drastically.'
India's second-largest software services company Infosys on Wednesday posted 12 per cent year-on-year rise in consolidated net profit at Rs 5,686 crore for March quarter 2021-22. The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,076 crore in the corresponding period previous year, according to a regulatory filing. Infosys' revenue grew 22.7 per cent to Rs 32,276 crore in the quarter from Rs 26,311 crore in the year-ago period, it added.
'If you are invested in mid-cap and small-cap stocks, even if you are making losses right now, it is better to sell them now and sit on cash.'
'You have to be a total anti-national bozo to shut down the Nokia plant in Sriperumbudur, which was the first large manufacturing plant for mobile phones in India.' 'Why was the unit shut down? Because of somebody's ego.'
Jaishankar said all members would agree that India's approach should be guided by its national beliefs and values, national interest and by its national strategy.
'Our competitiveness with China is very important.' 'If the exchange rate depreciates, it is good for us because it helps in our competitiveness.'
'In many cases, I didn't take money because the Indian students had run out of cash.' 'The biggest high was the blessings that these students's parents used to give me on the phone or send messages thanking me on WhatsApp.'
The Supreme Court on Friday took note of the Centre's submission that it has evacuated 17,000 stranded Indians from the conflict zone in Ukraine, saying it appreciated the efforts but was concerned about the anxiety of people.
Earlier on Sunday, Macron spoke with Biden and Putin on the Ukraine situation.
'No matter how big the name, no one lives forever; like medicines, we come with an expiry date.' 'But, in the short time that we have, we try to make something that will stay on long after we are gone.'
Russia is among the top buyers of Indian tea, accounting for about 18 per cent of the industry's total exports.
Hitting out at Prime Minister Narendra Modi over the issue of tax cuts on petroleum products, Tamil Nadu Chief Minister M K Stalin on Thursday said people were aware of the fact behind the issue and pointed out at his government effecting a Rs 3 a litre cut on petrol earlier.
Beijing will be intently watching Washington's response for any hint of weakness. Xi Jinping, who feels China has a limited window of strategic opportunity, will be emboldened to take additional initiatives in the Indo-Pacific and specifically against India and Taiwan, warns Jayadeva Ranade, the former senior RA&W officer and China expert.
Putin justified his decision in a speech blaming NATO for the current crisis and calling the US-led alliance an existential threat to Russia.
'Putin is in danger of losing face in his Ukrainian adventure. His bluster is a response to this.'
'War is never a solution. It's nothing but real estate business I am against any kind of violence.'
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