The broader conflict in West Asia, the largest international market for Indian carriers, has forced a sharp reduction in daily flights relative to the summer schedule.
Russian Foreign Minister Sergey Lavrov has confirmed that President Vladimir Putin has accepted an invitation from Prime Minister Narendra Modi to visit India. The visit is currently being prepared, though the dates have not yet been revealed. This visit follows Prime Minister Modi's trip to Russia in July 2024, his first since 2019. The two leaders have maintained regular contact and have emphasized the strength of the Russian-Indian strategic partnership.
India's merchandise exports dipped by about one per cent to $38.01 billion in December 2024 against $38.39 billion a year ago, according to government data released on Wednesday. Imports increased by 4.8 per cent to $59.95 billion in December 2024 compared to $57.15 billion in the year-ago month.
Closely watched by the world for any escalation, the Iran-Israel conflict is already showing early signs of stress for India Inc - longer deliveries, doubling freight rates, extended working capital cycles, and higher costs. For those yet to feel the heat, there is growing apprehension and nervousness over future developments, observed industry executives.
Russia proceeds "from the postulate, a negotiated solution to the Palestinian-Israeli conflict has no alternatives," said Putin while speaking at the Commonwealth of Independent States summit in Bishkek, Kyrgystan on Friday.
It will be Putin's first participation in a multilateral summit after a mercenary group launched a short-lived armed rebellion last week that rocked Moscow.
'Within five years, we should be achieving more on the international front than what it took most airlines 15 to 20 years back.'
Exports to India's key markets - the US, the United Arab Emirates, China, Singapore, Bangladesh and Germany - witnessed a sharp decline, resulting in a 12.69 per cent contraction in outbound shipments during the first month of the current financial year, commerce department data showed. India's biggest export market - the US - with 17 per cent share witnessed 17.16 per cent contraction at $5.9 billion in April. This was followed by the United Arab Emirates (UAE) that saw 22.09 per cent decline at $2.23 billion exports.
In the document, Russia underlined that it will build on a privileged strategic partnership with India with a view to enhance and expand cooperation in all areas on a mutually beneficial basis.
About half of the students, who have been affected by the war, have taken admission to universities in other countries.
Shipments from Russia rose nearly 33 per cent to $1.1 billion in March from $831.17 million in the previous month, which was when the country mounted aggression on Ukraine and faced sanctions from Western nations, the data accessed by Business Standard shows. Growth in imports was largely on account of oil, people aware of the matter said. The Department of Commerce is learnt to have written to the Ministry of Petroleum and Natural Gas (MoPNG), seeking details of imports, including the payment mechanism, which India has not made public.
Exporters are readying back-up routes to send their shipments to the nations belonging to the Commonwealth of Independent States (CIS), including Russia, as the war in Ukraine continues to intensify. Three routes are being explored. The first is the China route using Qingdao port. The second is the International North-South Transport Corridor (INSTC) route that connects Mumbai to Moscow via Iran and Azerbaijan.
Currently, most of the mobile handsets sold in India are imported from China either fully built or in knocked-down versions.
Russia is among the top buyers of Indian tea, accounting for about 18 per cent of the industry's total exports.
A transatlantic international commission will conduct a probe into the ethnic violence against Uzbek minorities in south Kyrgyzstan that killed 2,000 people and left at least 4,000 displaced.
Pakistan and Afghanistan have become 'incubators' of terrorism, and pose a threat to Russia and all constituents of the Commonwealth of Independent States (CIS) of former Soviet republics, Russian security chief said on Tuesday. "These countries have become an 'incubator' of terrorism and extremism, which are spreading into the region, CIS countries and the whole world," Director of Federal Security Service (FSB) Alexander Bortnikov was quoted as saying.
AirAsia India, which started operations on June 12 2014, had a market share of 6.2 per cent of the domestic traffic in April.
Decline in planting of cereals across the world may lead to volatile food prices next year, the Food and Agricultural Organisation (FAO) of United Nations has said in its latest report.
Russia has closed its borders with Georgia and Azerbaijan for the nationals and carriers of countries, which are not members of the Commonwealth of Independent States, a body of former Soviet republics.The cabinet notification of August 12 has 'temporarily' banned third country aliens from entering into Russia through borders with Azerbaijan and Georgia to prevent infiltration of members of foreign terror outfits and smuggling of arms, a government daily reported.
Even as the domestic pharmaceutical industry is exploring new markets in Latin America and the Commonwealth of Independent States, exports to countries in Africa are declining.
On the insistence of petroleum minister Murli Deora, Russian Prime Minister Vladimir Putin is sending Shmatko to attend the conference of energy ministers of the Commonwealth of Independent States that New Delhi is hosting on November 25-26.
Eyeing a big market, jewellery and diamond exporters in India have decided to target Commonwealth of Independent States and East European nations.
Exporters are of the view that while direct exports to Pakistan will be nearly nil this month, and in the coming few months, alternative markets can be explored for exporting tea, which was originally meant for Pakistan.
i-flex Solutions on Friday announced the launch of its Moscow office. "The announcement is in line with i-flex's global expansion strategy," the company said.
Dubai-based auto component major Parts International Company on Monday said it would invest approximately Rs 16 crore
In his address at a ministerial meeting of the SCO in Moscow in the Russian capital, Singh also referred to the Second World War and said its memories teach the globe the 'follies of aggression' of one state upon another that brings 'destruction' to all.
As part of efforts to boost exports to the Commonwealth of Independent States, the government is likely to unveil a Focus-CIS programme in the forthcoming Exim Policy.\n\n\n\n
Exports to Greece from India are $360 million a year.
Russia was banned from taking part in or hosting world championships, including the World Cup as part of doping sanctions imposed by WADA.
'It is astonishing that such a serious issue be handled in so casual and cavalier a fashion, but this has become what is expected of this government,' observes Aakar Patel.
Prime Minister Narendra Modi on Monday called on Iranian Supreme Leader Ali Khamenei.
The effort made to define the larger picture by focussing on history and the wish not turn differences into disputes and conflicts is welcome. In the obtaining circumstances today, nothing more could have been possible, observes Ambassador T P Sreenivasan.
Singh, who arrived in Moscow on Wednesday on a three-day visit to attend a crucial meeting of the Shanghai Cooperation Organisation (SCO), pressed for expediting supply of a number of weapons systems, ammunition and spares to India by Russia under contracts which were concluded earlier.
Air India, which is set to fly to Moscow from early next month, is exploring CIS destinations among the new places that it wants to expand its global operations to, an airline official said.
The letter was sent as an early warning of what was then widely being perceived as a plunder of national resources.
Iran's decision to keep India out and welcome China to the scene is a huge strategic setback for India, observes Dr Rajaram Panda.
L&T had also sought shareholders' approval to raise $600 million through a qualified institutional placement.
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