India will need to travel back in time and seek inspiration from football greats Tulsidas Balaram and Chuni Goswami to deftly dribble around and sidestep the West-imposed price cap on exports of Russian seaborne crude oil. India depends on imported oil to meet 86 per cent of its needs, of which nearly a quarter now comes from Russia. The copious flows are roughly 10 per cent cheaper than competing suppliers helping India save billions of dollars in fuel costs.
Radio Free Europe reported that the Asian Infrastructure Investment Bank, a Chinese-led development bank, suspended all business with Russia and Belarus on March 3.
India's projected economic growth for 2022 has been downgraded by over two per cent to 4.6% by the United Nations, a decrease attributed to the ongoing war in Ukraine, with New Delhi expected to face restraints on energy access and prices, reflexes from trade sanctions, food inflation, tightening policies and financial instability, according to a UN report released on Thursday. The UN Conference on Trade and Development (UNCTAD) report downgraded its global economic growth projection for 2022 to 2.6 per cent from 3.6 per cent due to shocks from the Ukraine war and changes in macroeconomic policies that put developing countries particularly at risk. The report said while Russia will experience a deep recession this year, significant slowdowns in growth are expected in parts of Western Europe and Central, South and South-East Asia.
India has maintained communication with both Russia and Ukraine. It is time Narendra Modi steps up on the world stage and plays the role of peacemaker, suggests military historian Colonel Anil A Athale (retd).
That means a manufacturer looking at a market like India needs to decide whether small, cheap cars or small, expensive cars or both will work better for them, says Pavan Lall.
It was lovely to enjoy the magical atmosphere of celebrating the spectacular accomplishments of extraordinary men and women who had enriched the world of sciences, literature and peace, notes Ambassador T P Sreenivasan after attending last week's Nobel Prize awards ceremony.
'But unlike Bond who killed an individual, Israel is killing a nation.'
'If we want a stable society, then all groups must feel that they have a seat at the table of power.'
By driving a hard bargain with Russia in procuring crude oil at the lowest price possible, India is furthering the policy of G7 and Washington is "comfortable" with New Delhi over its approach in addressing issues relating to energy security, a top Biden administration official said.
Liberty Media president and CEO Greg Maffei told analysts on a conference call that the move was the most efficient way of putting cash into the business, with Formula One getting a net cash payment of $1.4 billion.
A seaside village in southern England commemorated the contributions and sacrifice of Indian soldiers who fought in World War I, known as the Great War, at a memorial created in honour of the army hospitals that cared for the wounded at the time.
'The war of 1962 exposed the hollow intellectual foundations of Nehruvian foreign policy, especially vis-a-vis China and that is why it was such a shock.'
Russia dominated Saudi Arabia in oil supplies as the world's fastest-growing major economy for fossil fuels in October, relegating the Kingdom to third place. Iraq was India's top oil supplier, according to the data from Vortexa. Saudi Arabia's decline in India's oil market has coincided with Russia's rise, and ironically occurred amid growing diplomatic ties between Riyadh and New Delhi. Saudi Crown Prince Mohammed bin Salman Al Saud is visiting India this month to meet Prime Minister Narendra Modi.
Micron plans an assembly testing, marking and packaging project of $1 billion, and talks are on to set up a memory chip plant for captive requirements.
India's long-distance swimmers Elvis Ali Hazarika of Assam and West Bengal's Rimo Saha created history by becoming the first relay team from the country as well as Asia to cross the North Channel in Europe.
A looming global shortage of diesel in Europe presents India with more than one opportunity to profit from strong margins. A shortage of the fuel, a key contributor to inflation, has been exacerbated by the conflict in Ukraine, and western sanctions on Russian fuel supplies. The slowdown in natural gas supply means the West needs diesel to heat their homes this winter.
Take a look at what designer VJ Balhara offered up on the final day of Lakme Fashion Week.
India is now much ahead of other large railway networks in the world in terms of electrification -- with the US at just 1 per cent, China at 72 per cent and Europe at 60 per cent.
Kyiv is no stranger to official visits, but this one is different. The fact the US President is meeting Ukraine's leader in the heart of the capital in the middle of a full-scale conflict is significant and symbolic.
Come December, India may have to re-evaluate purchases of Russian oil if a price cap on crude oil proposed by the US and the European Union (EU) comes into effect. That impacts nearly a quarter of India's oil purchases that come at a discount, helping limit marketing losses for India's state refiners and enabling New Delhi to manage inflation by freezing pump prices of motor fuels. In September, India imported 1 million barrels a day or 24 per cent of its overall imports from Russia, which became the biggest supplier of oil to India.
'Over the last two decades, the India-French relationship has grown steadily, no major political difference having darkened the sky between Paris and Delhi,' says Claude Arpi.
Today, with China centrally seated and located, the Global South has an intriguing road ahead. Odds of it becoming a Chinese bloc in the emerging new bipolar world are higher than we'd wish them to be, observes Shekhar Gupta.
If military power is all it would take to finish the menace of an awful terrorist organisation like Hamas, how come five Israeli wars in Gaza since 2003 have failed to do so? asks Shekhar Gupta.
;The world paid a heavy price for the megalomania of the Third Reich's fuehrer.' 'Will it pay a similar price for the ambitions of China's leader-for-life?' asks Amulya Ganguli.
'China seems more intent on creating a new world order rather than shaping the existing one.' 'India is of course, at this moment in time, aligned with the West-led order because of China's full-spectrum aggressive behaviour towards India.'
India may see a structural shift in supplies of crude oil with Russia emerging as a key source of fuels, a development that reduces New Delhi's dependence on West Asian oil, gives Indian refiners better bargaining power with price-setter Saudi Arabia, and improves overall energy security. The unexpected surge in supplies of Russian crude in the last few months, unthinkable until the war in Ukraine, may also deliver other unforeseen gains such as boosting exports of refined fuels to Europe, which historically has counted on Russian shipments. India has jumped on to the bandwagon of opportunistic buying of Russian crude but if calibrated carefully, Urals crude can be a long-term asset for India refiners.
The Indian embassy issued a fresh advisory as Russia carries out a military operation in Ukraine, triggering a major confrontation between the two sides.
India has substantially increased its crude oil imports from the US, with the country's share in India's crude basket hitting a record 14.3 per cent in December, commerce ministry data showed.
If they can sit together and hammer out 'Black Sea Initiative' deal for much needed food shipments, surely, they should be able to address the madness of the larger military conflict?
India on Tuesday advised its citizens in Ukraine to temporarily leave that country amid escalating tension between Russia and NATO countries over the eastern European nation.
Russia and China have a broad consensus today on almost all core issues related to global strategic stability, which is unprecedented in modern history, observes Ambassador M K Bhadrakumar.
Millions of Indians have it, but go undiagnosed and suffer!
India imported goods worth $4.23 billion in June from sanctions-hit Russia, up 6.8 times as compared to last year, as demand for shipments of crude oil grew at the fastest pace during the month. Crude oil worth $3.02 billion was imported in June, which translates into a share of 71 per cent of the total imports from Russia, commerce and industry ministry data showed. Similarly, during the April-June quarter, India's imports from Russia were valued at $9.27 billion, up 369 per cent on year.
'In view of the continued high levels of tensions and uncertainties with respect to the situation in Ukraine, all Indian nationals whose stay is not deemed essential and all Indian students, are advised to leave Ukraine temporarily,' the embassy said.
India poses a "bigger problem" than China when it comes to fighting climate change, particularly on reducing carbon emissions, Democratic presidential aspirant and former New York mayor Michael Bloomberg has claimed. During his maiden appearance on a Democratic presidential primary debate in Las Vegas on Wednesday, Bloomberg said it was "ridiculous" of the Trump administration to take the US out of the 2015 Paris climate agreement, as he outlined his approach to tackling climate change.
Climate and sustainable development financing, multilateral institution reforms, regulation of digital assets, the spillover effect on developing economies from actions of western central banks, energy and food security in the backdrop of war in Europe, and sanctions on Russia and their impact on the global economy are some of the agenda items that India will take up as President of G-20, Finance Minister Nirmala Sitharaman said on Tuesday. India will take over as President of the powerful international grouping on December 1 for a year. There will be around 200 meetings throughout the country, with the summit Heads of State meeting expected to be held in New Delhi next September.
'India's counter-terrorism network needs to keep potential jihadists under a scanner all the time,' says Rajeev Sharma.
The tournament will take place in a quarantined setting from Aug. 31-Sept. 13 in New York. The Western & Southern Open, which was relocated from Cincinnati this year, will be held from Aug. 20-28 as a warm-up event for the Grand Slam.
Prime Minister Narendra Modi spoke with Russian President Vladimir Putin on Friday during which he reiterated India's long-standing position on the Ukraine situation, favouring dialogue and diplomacy.
The Greek debt crisis shows clearly that if the eurozone is to come out of this crisis relatively unscathed, it needs a full-time fiscal-monitoring and crisis-resolution mechanism.
