Prime Minister Narendra Modi on Thursday discussed with a group of senior ministers the prevailing global security situation and how to maintain supply chain uninterrupted despite conflicts in different zones, including the Strait of Hormuz, the Black Sea, the Red Sea, and the Gulf of Aden.
'Energy prices would shoot up with the closure of Hormuz again.'
Despite decades of efforts towards energy transition, oil will remain the critical energy source for all nations for some decades. We can hope for peace opening the Strait of Hormuz, but must prepare for war closing it, points out former foreign secretary Ranjan Mathai.
Coal and Mines Minister G Kishan Reddy announced that seven coal gasification projects will be established in Maharashtra, Odisha, and West Bengal with a Rs 64,000 crore investment, aiming to reduce India's reliance on energy imports.
State-run Oil and Natural Gas Corporation (ONGC) has approved the development of a 1.75 million tonnes (mt) strategic petroleum reserve (SPR) in Mangaluru, a project deemed of national importance, with plans for broad commercial utilisation.
Industry experts and the India Energy Storage Alliance (IESA) advocate for a unified framework to address the significant supply gap in domestic cell manufacturing, crucial for enhancing India's energy storage capabilities and reducing reliance on imports.
Russia on Monday assured India of uninterrupted supply of energy and fertilisers amid disruption caused by the West Asia crisis, as External Affairs Minister S Jaishankar met President Vladimir Putin in Moscow and held talks with his key interlocutors.
The International Monetary Fund (IMF) has reduced India's growth forecast for FY27 to 6.4 per cent, citing the potential impact of higher energy prices offsetting the country's economic resilience. Despite this, India remains among the fastest-growing major economies.
India's trade deficit reached a six-month high of $31.98 billion in July, driven by a sharp increase in imports, particularly crude oil, electronic goods, coal, and fertilisers. Both merchandise exports and imports recorded their second-highest levels during the same period.
US shale oil would act as an alternative to India's heavy dependency on Russian crude, which is currently facing sanctions.
India significantly increased its crude oil imports from Russia and the United Arab Emirates in June, securing supplies as the Strait of Hormuz began to reopen, with Russian barrels remaining attractive due to discounts and UAE supplies offsetting earlier uncertainties.
India is significantly expanding its crude oil sourcing to Latin America, with Venezuela emerging as a major supplier, as geopolitical disruptions in the Middle East and the Strait of Hormuz compel the world's third-largest oil consumer to diversify its energy supplies.
A Monaco-based fuel technology company, FOWE Eco Solutions, claims its patented Cavitech fuel emulsion technology can help India reduce fuel consumption, emissions, and improve equipment performance by using water in a fuel-oil-water emulsion.
JSW MG Motor India has unveiled ADAPT, India's first multi-powertrain new energy vehicle (NEV) platform, designed to support electric, hybrid, plug-in hybrid, and range-extender electric vehicles. The company plans to launch one electric SUV and one plug-in hybrid SUV based on this architecture during FY27, aiming to broaden its NEV portfolio and accelerate adoption in India.
China sailed through the crisis in the Strait of Hormuz relatively unscathed even as the impact of its steps shielded other consuming nations from having to pay high crude oil prices.
India's brittle energy security is inextricably linked to two opposing paradigms - fossil fuels, and the transition to green energy. The first powers the present; the second paves the way for Viksit Bharat in 2047.
India's procurement of Venezuelan crude oil has picked up momentum since April and the South American nation has already emerged as the third largest oil supplier to the country.
A top government official says that while India has made significant progress in renewable energy, technical issues are hindering large-scale implementation. The government is working on solutions such as grid flexibilisation and battery storage.
Fitch Ratings has affirmed India's sovereign credit rating at 'BBB-' with a stable outlook, acknowledging robust growth prospects and strong external finances. However, the agency highlighted concerns over elevated government debt, lagging structural metrics, and potential fiscal spending pressures due to rising youth unemployment.
The United States has sanctioned four India-based companies, including a customs broker and three other firms, for their involvement in importing petroleum and petrochemical products from Iran. This action is part of "Operation Economic Outcast," a broader US campaign to sever Iran's financial lifelines and prevent funding for its destabilising activities.
State-owned Coal India Ltd (CIL) and ArcelorMittal Nippon Steel India (AMNS) have signed an MoU to explore setting up a coal gasification plant near AMNS's Paradip pellet plant in Odisha. This initiative aims to produce synthesis gas for cleaner steel production, reduce reliance on imported fuels, and align with India's goal of gasifying 100 million tonnes of coal by 2030, supported by a Rs 37,500-crore government incentive scheme.
'India is vulnerable to the West Asia crisis in three ways: Energy costs, the business Indian companies conduct in the region, and remittances from the Indian diaspora.'
Goldman Sachs report said, "India has a fifth of the world's population, but only a 30th of its energy".
Prime Minister Narendra Modi has highlighted the risks posed by the 'weaponisation' of resources and strategic sea routes, urging India to achieve greater self-reliance in energy to mitigate vulnerabilities to overseas supplies and geopolitical tensions.
India's crude oil imports from Russia reached a record high of approximately 2.73 million barrels per day (mbpd) in June, driven by discounts of $2-5 a barrel. This surge comes as the West Asia crisis disrupted supplies from traditional sources and China reduced its own purchases, leading Russia to offer more favourable terms to India.
India's foreign secretary Vikram Misri on Thursday participated in a high-level meeting hosted by the United Kingdom on the evolving situation in West Asia, underlining concerns over maritime security, energy supply disruptions and the need for diplomatic de-escalation.
The US Senate has overwhelmingly approved a bill, the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026, which aims to punish Russia and its major petroleum product buyers, including China and India. The legislation allows the US President to impose 100 per cent tariffs on goods from the top five importers of Russian oil and gas, and also extends sanctions on Iran's energy sector. The bill, championed by the late Senator Lindsey Graham, now moves to the House of Representatives for further approval.
The US senate last week passed a bill that would allow Washington to impose tariffs on major buyers of Russian energy.
'Historically, India has depended on the Middle Eastern Gulf for nearly 90 per cent of its LPG imports. Shifting to alternative suppliers is not something that can happen quickly.'
A Monaco-based fuel technology company, FOWE Eco Solutions, claims its patented Cavitech fuel emulsion technology can help industries slash fuel consumption, reduce emissions, and improve equipment performance by using water in fuel.
Indian hockey captain Harmanpreet Singh has called for a complete 60-minute performance from his squad in their "do-or-die" FIH World Cup match against Olympic champions Netherlands. Both Harmanpreet and coach Craig Fulton believe India can upset the hosts by playing smartly, maintaining impeccable defense, and capitalising on their underdog status.
Indian women's hockey captain Salima Tete believes the team's recent FIH Nations Cup triumph has instilled the confidence needed to compete for the top prize at the FIH Women's World Cup 2026, despite facing a challenging pool.
A Monaco-based fuel technology company, FOWE Eco Solutions, claims its patented Cavitech fuel emulsion technology can help industries slash fuel consumption, reduce emissions, and improve equipment performance by using water.
Shares of Waaree Energies and Premier Energies are under pressure after the US imposed initial duties on Indian solar imports. The article examines the impact on green energy stocks and market sentiment.
Japan is deepening its defence relationship with India while simultaneously expanding its economic, infrastructure and security engagement with countries around India -- particularly Bangladesh. The result is an emerging Japanese conception of South Asia in which India remains the strategic anchor, but the geography surrounding India is becoming increasingly important, points out Varun Arya.
US Secretary of State Marco Rubio has said that the US is ready to sell as much energy as India is willing to buy. He described India as a 'great partner' ahead of his visit to New Delhi.
A recently finalised peace deal between the US and Iran, set to be signed on June 19, is expected to significantly benefit India's economy by boosting exports to West Asia, stabilising the rupee, and easing inflationary pressures, according to exporters and experts.
Hyderabad-based SETL, a precision engineering company, has acquired a 51% majority stake in GScale Energy Private Limited, an AI Datacenter Engineering infrastructure specialist. This strategic move involves an initial investment of Rs 190 crore, with a total commitment of Rs 500 crore, marking SETL's expansion into the rapidly growing AI Datacenter sector and leveraging its expertise from pharmaceutical and chemical industries.
Reserve Bank Governor Sanjay Malhotra announced that India's foreign exchange reserves stand at a healthy $682.3 billion as of May 29, 2026, providing approximately 11 months of import cover and strong protection against external shocks.
Gwadar is viewed as a critical pearl in China's maritime strategy as it would give a permanent logistical footprint near an important choke point - the Strait of Hormuz and the oil rich Persian Gulf, explains Commodore Venugopal Menon (retd).
