India's crude oil imports from Russia saw a marginal decline in September, but continued to account for over one-third of the country's total oil purchases, despite US pressure to curb the trade over concerns that it supports Moscow's war effort in Ukraine. India's crude imports in September were around 4.7 million barrels per day, up 220,000 bpd month-on-month and flat year-on-year.
The wide-ranging sanctions imposed by the US on the Russian oil sector have started to dent near-term oil flows to India with state-owned Bharat Petroleum Corporation Ltd (BPCL) saying not enough cargoes are available for March.
The relations between New Delhi and Washington are on a downturn after Trump doubled tariffs on Indian goods to a whopping 50 per cent, including a 25 per cent additional duties for India's purchase of Russian crude oil.
'There are only a few countries in the world that have deployed combat-ready laser systems.'
Employers in India are planning to outpace global adoption in certain future technologies as companies operating in the country are heavily investing in technologies like artificial intelligence (AI), energy technologies, robotics, and autonomous systems, said the World Economic Forum (WEF) in its latest "Future of Jobs" report released on Wednesday. The report, released days before the WEF annual meeting in Davos from January 20-25, notes that 35 per cent employers in India think that adopting semiconductors and computing technologies (compared to 20 per cent globally) will transform their operations while 21 per cent employers think that adopting quantum and encryption technologies (compared to 12 per cent globally) will also transform their operations.
Japan is expected to increase its investment target in India from the earlier 5 trillion yen ($34 billion) to almost 10 trillion yen.
Prime Minister Narendra Modi on Friday said it is important for India and China to work together to bring stability to the world economic order as he asserted that New Delhi is ready to advance bilateral ties from a strategic and long-term perspective based on mutual respect, mutual interest and mutual sensitivity.
India and Russia always stood "shoulder-to-shoulder" even in the most difficult situations, Prime Minister Narendra Modi told Russian President Vladimir Putin on Monday, against the backdrop of possibly the worst phase in New Delhi's ties with the US in over two decades.
Ahead of trade talks between Indian and United States officials in Delhi, White House trade advisor Peter Navarro said India, which has the 'highest tariffs' of any major country, is 'coming to the table'.
Prime Minister Narendra Modi on Saturday 'deeply' appreciated United States President Donald Trump's 'positive assessment' of the India-US partnership after the American leader hailed the 'special' relationship between the two nations -- remarks seen as an attempt to check the downturn in the ties.
'Indian refiners can operate without Russian crude from a technical standpoint, but the shift would involve major economic and strategic trade-offs'
India has said it will take all steps to protect its national interests and ensure comprehensive national security in all domains after Pakistan and Saudi Arabia signed a strategic defence pact.
'While the President has been critical of India, he has gone out of his way to compliment PM Modi. They have an incredible relationship.'
With India making it clear that the US doesn't have enough spare capacity for crude oil, Washington, DC, now wants India to sign fixed-term liquefied natural gas (LNG) contracts with American producers, multiple sources in the know said.
Following the disruption in the supply of rare earth or permanent magnets after China's notification on April 4, the mines ministry is planning to introduce a Rs 1,500 crore incentive scheme to recycle critical minerals, according to a top official.
'Scuttling 25 years of momentum with the only country that can serve as a counterweight to Chinese dominance in Asia would be a strategic disaster.'
The automobile industry has sought government support in expediting approvals from the Chinese government for importing rare earth magnets used in various applications, including passenger cars. As per the industry sources, various domestic suppliers have already sought approval from the Chinese government through their local vendors in China.
In trade negotiations, as in chess, sometimes you need to accept a temporary disadvantage to secure a better long-term position, points out Sonal Varma, chief economist (India and Asia ex-Japan) at Nomura.
iPhone maker Apple has met its replenishment target for freshwater withdrawals for corporate operations in India in 2023, the company said in its environmental progress report released on Wednesday. Globally, Apple has set a goal to replenish 100 per cent of corporate freshwater withdrawals in high-stress locations by 2030.
'The US slump could hit our hosiery market hard since 40 per cent of our exports go there.' 'Job losses could be severe if the government doesn't step in fast.'
The world would face a looming oil supply crisis because of drop in the production, Iran's OPEC governor has warned, adding that crude is still undervalued and set to hit $100 in the short term.
'The E20 usage accrues the huge benefit to the nation, to the society, to the farmer, to the environment, to the exchequer and all of us'
Gor underlined that President Trump has a "deep friendship" with Prime Minister Narendra Modi, and that is something that is unique.
'Famine in Gaza is not a failure of logistics or aid. What is to blame is deliberate starvation caused by a brutal war.' 'Any child dying in a war zone is a vote of no confidence against humanity.'
'We remain in touch with the Chinese side, in Beijing as well as in Delhi, to bring predictability in the supply chain.'
India's annual oil import bill could rise by $9-11 billion if the country is compelled to move away from Russian crude in response to US threats of additional tariffs or penalties on Indian exports, analysts said. India, the world's third-largest oil consumer and importer, has reaped significant benefits by swiftly substituting market-priced oil with discounted Russian crude following Western sanctions on Moscow after its invasion of Ukraine in February 2022.
China's export curbs on critical minerals crucial for India's electronics sectors are no longer mere warnings but a wake-up call for New Delhi, underscoring the need for urgent measures like reverse-engineering of low- to mid-tech imports to cut overreliance on Beijing, think tank GTRI said on Thursday.
'Many global investors have been overweight on dollar assets, so some diversification or hedging is naturally expected.'
Africa is second only to West Asia as a net exporter of oil.
Donald Trump's tariffs, meant as political punishment, have avoided the predicted chaos, lifting US growth, weakening rivals, and letting him claim victory in a resilient global economy, observes T T Ram Mohan.
'While investors believe in India's long-term growth story and resilience amid global uncertainty, they see near-term risks around the direction of a global trade war.'
Increasing cooperation in critical minerals will top Prime Minister Modi's agenda during his discussions with leaders of Ghana, Argentinia, Brazil and Namibia.
Maruti Suzuki India (MSIL) said on Thursday its operations are unaffected by the global rare earth magnet shortage, but added that the situation is "uncertain and evolving". The firm said it is exploring multiple solutions to maintain continuity in operations and will notify stakeholders in case of material impact.
Commerce and Industry Minister Piyush Goyal on Tuesday expressed hope that India will conclude the proposed bilateral trade agreement (BTA) with the US by the fall or November this year. He said that "a little bit" of geopolitical issues overtook the trade matters in the negotiations for the pact between the two countries.
JV to export e-carts, aim for 10% global market share, $1 bn turnover and innovation in driverless tech.
The defence minister also announced that India has taken up the challenge of developing a powerful indigenous aero-engine, adding that preparations for this critical project are now almost complete and the work will soon be visible.
The BRICS nations condemned the Pahalgam terror attack, advocated for a zero-tolerance approach to terrorism, and criticized rising tariffs during their summit in Rio de Janeiro. They also addressed global challenges and called for reforms in international institutions.
Arunabha Ghosh on why India will increasingly become an energy great power, but not an energy hegemon.
DeepSeek is a case in point on how economic interdependence between nations are utilised for geopolitical ambitions and global domination efforts, observes China expert Srikanth Kondapalli.
Inventories of rare earth magnets used in critical automotive components - particularly electric vehicle (EV) traction motors and power steering systems - could run dry by mid-July this year, according to rating agency Icra.
