Finance Minister Nirmala Sitharaman's biggest challenge will be to find a new growth driver, particularly against the backdrop of a global economy ravaged by heightened uncertainty and fragmentation, financial markets on a precipice, and global commodity prices on a continued uptrend.
Brent crude oil prices can touch $150 a barrel (bbl) - up a whopping 103 per cent from the current levels - in the worst-case scenario if the Israel-Iran geopolitical tensions escalate, suggest analysts.
Ongoing strategic investment into assets abroad, alongside gas purchases being made by India, will soon allow the country to access as much gas as it needs, Petroleum and Natural Gas Minister Hardeep Singh Puri said on the sidelines of India Energy Week (IEW 2025).
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On June 27, the Cabinet approved a new formula that uses weighted average of the price of LNG into India and average price at major gas hubs.
India and Russia have solidified a five-year plan to enhance their economic and trade partnership, while also addressing the ongoing conflict in Ukraine and the threat of terrorism.
'There's too much coincidence in back-to-back failures of missions critical to national security.'
US strikes on Iran's three main nuclear facilities have once again raised concerns that Tehran might shut down the Strait of Hormuz - one of the world's most critical chokepoints, through which a fifth of global oil and gas supply flows.
India responds to US President Trump's claim that PM Modi assured him of halting Russian oil imports, stating it is diversifying energy sources to meet market conditions and safeguard consumer interests.
Rising energy demand could tilt India's energy basket towards fossil fuels from coal to oil, natural gas.
Increasing cooperation in critical minerals will top Prime Minister Modi's agenda during his discussions with leaders of Ghana, Argentinia, Brazil and Namibia.
Chinese import tariffs have unwittingly come to India's assistance to help boost imports of US liquefied petroleum gas (LPG) at rates cheaper than what it pays for supplies from West Asia, according to industry sources and shipping data.
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.
Escalation of the conflict in West Asia between Israel and Iran has had a direct impact on the energy markets, and more broadly on the financial markets as well as the global economy.
Indian Oil Corporation (IOC), the nation's largest oil firm, on Friday said ample stocks of petrol, diesel and cooking gas LPG are available in the country and there is no need for panic buying of fuel. The statement comes after social media was flooded with posts and videos showing people queuing at petrol pumps to stock fuel as tensions between India and Pakistan escalated.
Mahanagar Gas (MGL) has just hiked prices for compressed natural gas (CNG) and domestic piped natural gas (PNG) in the Mumbai Metro Area. The distributor raised prices by Rs 1.50 per kilogramme (kg) for CNG, bringing the price up to Rs 75 per kg, including taxes. Domestic PNG prices were hiked from Rs 1 per standard cubic meter (SCM) to Rs 48 per SCM, inclusive of taxes.
Prime Minister Manmohan Singh on Monday expressed concern over the mismatch in demand and supply in the energy sector.
Gor underlined that President Trump has a "deep friendship" with Prime Minister Narendra Modi, and that is something that is unique.
Indian refiners are likely to import 2-2.2 million barrels per day of Russian crude oil in June - the highest in the last two years and more than the total volumes bought from Iraq, Saudi Arabia, the UAE and Kuwait, preliminary data by global trade analytics firm Kpler showed.
'Geopolitically and diplomatically it's a very difficult situation for India.'
'Trump does have a master plan in mind to put pressure on India with the additional tariff of 25 per cent to get Modi to persuade Russian President Vladimir Putin to freeze the Ukraine war.' 'It has not worked so far. By end-September only we'll know for sure the future trajectory of India's oil purchases from Russia,' observes Ambassador M K Bhadrakumar.
'While the President has been critical of India, he has gone out of his way to compliment PM Modi. They have an incredible relationship.'
In the midst of the high-octane legal battle between the two Ambani brothers over gas supply from KG-D6 fields, the Planning Commission said on Thursday that it is not concerned about the outcome of the dispute, but only wanted to promote the use of the fuel for the power and fertilizer sectors.
In October 2024, Jindal Stainless challenged a Goods and Services Tax (GST) notice in the Delhi high court. It was about corporate guarantees issued to related parties by its former group company, Jindal Stainless (Hisar), before their merger in March 2023.
From the Sensex constituents, Tata Steel, Bajaj Finance, Bharti Airtel, Adani Ports, Eternal, Bajaj Finserv, NTPC, HDFC Bank, Reliance Industries and Axis Bank were among the major gainers. In contrast, Trent, State Bank of India, Tech Mahindra, Maruti and Mahindra & Mahindra were among the laggards.
Bajaj Auto - the country's most valuable two-wheeler (2W) company by market capitalisation - met Street expectations in the January-March quarter (Q4) of 2024-25 (FY25) but still ended Friday as the worst performer on the Nifty 50, slipping 3.1 per cent.
'It is typical of China's strategic deception of making virtue out of necessity,' observes Rup Narayan Das.
Karnataka PWD Minister Satish Jarkiholi has stated that a decision on the Social and Educational Survey report, popularly referred to as caste census, is unlikely in the near future and may take up to a year due to the complexities involved. He expressed concerns that any missteps in addressing the concerns raised by various castes over the report could cause problems for the ruling Congress party in the future. The cabinet is scheduled to take up the matter again on May 2.
On February 24, when Vladimir Putin announced a military operation on Ukraine, few would have thought that Indian government-owned GAIL India would feel the impact. The tensions over gas supplies were essentially a Europe-Russia problem, related to the sanctions western economies imposed on Moscow. But the EU depends on Russian imports for 40 per cent of its gas stocks, an over-dependence that Russia has underlined with Kremlin-owned Gazprom cutting its supplies through the Nord Stream 1 pipeline to 20 per cent, citing maintenance issues.
Crude and gas supply concerns have eased amid reports that Israel and Hamas have struck a peace deal. The International Energy Agency estimates oil demand may drop slightly in calendar 24 but Opec probably has enough pricing power to maintain $80/ barrel Brent prices. Russia's share of India's crude imports remained strong at about 35 per cent in September 2023.
US Vice President JD Vance called on India to drop non-tariff barriers, give greater access to its markets and buy more American energy products and military hardware. Vance, in a speech in Jaipur, highlighted the need for a stronger US-India partnership for a prosperous and peaceful 21st century. He emphasized the importance of working together to address global challenges and praised Prime Minister Narendra Modi, describing him as a "special person." Vance also urged India to provide greater market access to American products and buy more defense platforms and energy from the US. He suggested that India consider dropping some of the non-tariff barriers for American access to the Indian market and highlighted the benefits of closer India-US defense collaboration, advocating for New Delhi to procure more military hardware from the US. He cited the example of American fifth-generation F-35s, arguing they would give the Indian Air Force the ability to defend its airspace and protect its people like never before. Vance also welcomed the Modi government's budget announcement to amend India's civil nuclear liability laws, paving the way for US producers to export small modular reactors and build larger US-designed reactors in India. He emphasized the importance of energy security for India's AI ambitions, stating "there is no AI future without energy security and energy dominance." Vance's visit comes amid growing global concerns over the US's tariff war.
Housemates will face shortage of gas supply as their report card verdict isn't too good!
A mob led by Kuki-Zo women clashed with security forces in Manipur's Kangpokpi district on Tuesday, triggering fresh tensions in the ethnic strife-hit state.
Earlier, the top court had stayed the contempt proceedings against the Central government officials initiated by the Delhi high court over the issue.
With nearly 100 launches and unveils, the Bharat Mobility Global Expo 2025, held in Delhi from January 17 to 22, made one thing clear to automobile enthusiasts: Electric vehicles (EVs) are the way ahead for the Indian auto market for years to come.
Reliance Industries has made drastic changes in gas supply contracts that will jack up its KG-D6 gas price by 10 per cent over and above the new rate of $8.3 coming into effect from next month.
The iCNG version of the Tata Nexon is quick, safe, eco-friendly, and it is affordable too, notes Rajesh Karkera/Rediff.com.
State-owned Indian Strategic Petroleum Reserves Ltd (ISPRL), which operates India's strategic crude oil storage, will make awards by December to lease around 1 million tons of crude oil storage space (7.3 million barrels) at two of the country's three existing Strategic Petroleum Reserves (SPRs), around a fifth of the total SPR capacity. This will enable the refilling of crude caverns even as escalating hostilities in the Gulf threaten disruptions in crude supplies, two industry sources said.
These 10 stocks represent the best mix of value and growth, offering relatively low price-to-earnings and price-to-book ratios, a high return on equity, and sufficiently high potential from current levels.
'When so many young Baloch men and women are willingly volunteering as fighters and even suicide bombers.'
Pakistan is allegedly working on an offensive chemical and biological warfare program with the help of its 'all-weather friend' China.
