Zesty, spicy, tasty recipe to try this monsoon.
"We do not think India should accelerate or increase imports of Russian energy and other commodities even as, obviously, those decisions are made by individual countries," White House Press Secretary Jen Psaki told reporters at her daily news conference.
United States President Donald Trump on Wednesday said Prime Minister Narendra Modi had assured him that India would stop purchasing oil from Russia, describing it as "a big step" in efforts to increase global pressure on Moscow.
The escalating conflict in West Asia has resulted in 19 ships carrying essential energy resources for India being stranded in the Strait of Hormuz, raising concerns about potential disruptions to the country's energy supply.
Global energy markets saw a significant correction as oil prices nosedived following Iran's announcement that the Strait of Hormuz has been fully reopened, dismantling the 'war-risk' premium that had gripped the market.
Surging global crude oil prices failed to shore up customs revenue substantially as India Inc resorted to advance licence scheme, which allows duty-free imports for value-added exports.
An influential Republican senator has asked India to "just quit" buying oil from sanctions-hit Iran.
'Once you're wrestling with making a merger of that scale value-accretive, you're also under pressure to keep growing the balance sheet and chasing liabilities, and other things start to slip as a consequence.'
Petrol price has been increased by 87 paise in Delhi from Rs 98.64 to Rs 99.51 per litre. Diesel rates have gone up by 91 paise from Rs 91.58 to Rs 92.49.
India, the world's third-largest oil consumer, spent 2.5 billion euro on buying crude oil from Russia in September, 14 per cent less than the previous month, a European think tank said. India remained the second-largest buyer of Russian fossil fuels in September behind China, according to the Centre for Research on Energy and Clean Air (CREA).
The Reserve Bank of India (RBI) is widely expected to keep its benchmark repo rate unchanged in the August monetary policy review, with economists citing elevated inflation risks and the pending closure of the FCNR(B) deposit scheme as key factors. Most anticipate a 'Neutral' policy stance but with a hawkish tone due to geopolitical tensions, high crude oil prices, and an uneven monsoon.
India, the world's third largest oil importing and consuming nation, is likely to save as much as Rs 1.8 lakh crore on import of crude oil and LNG if the trend of softening international energy rates continues, Icra said Wednesday. India, which meets over 85 per cent of its crude oil needs through imports, spent $242.4 billion on buying crude from overseas in the fiscal year ended March 31, 2025.
'Buy on dips, buy on dips and sell on rise.'
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.
Global oil prices fell on Thursday to their lowest levels since before the outbreak of the Iran conflict, offering a significant economic tailwind for India, the world's third-largest crude importer, by easing inflation risks, reducing the import bill and improving the government's fiscal position.
MEA spokesperson Randhir Jaiswal said India's energy decisions are guided by national interest.
'Indian refiners can operate without Russian crude from a technical standpoint, but the shift would involve major economic and strategic trade-offs'
India's exports experienced their steepest fall in five months, declining by 7.44 per cent in March to $38.92 billion, primarily due to trade uncertainty and geopolitical tensions, with shipments to West Asia contracting by over 50 per cent.
Apart from this, state refiners are looking at optimising crude oil inventory levels without in any way affecting fuel supplies in the domestic market.
Indian stock markets experienced a second consecutive day of losses, with the Sensex tumbling 852 points, as crude oil prices surpassed USD 100 per barrel due to stalled US-Iran negotiations and escalating geopolitical tensions in West Asia.
'It is not because of the war in West Asia, which began on February 28.' 'Petroleum product prices are already going through the roof. They are bound to have a serious inflationary impact.' 'A country's leadership is tested in trying times. It is here that the current leadership is failing.'
Indian private sector and State-run refiners continued to receive crude oil from Russian suppliers even after November 21 -- the winding-down date for US sanctions on supplies from leading Russian oil producers imposed in October -- as new intermediaries sprung up in West Asia to sell the oil, according to senior refining sources and ship tracking data.
Afraid of US sanctions, State Bank declines payment facilitation for oil imports from Iran.
'Healthy double-digit returns are still possible, though a sharp rally is unlikely.'
The Reserve Bank of India (RBI) has projected that crude oil prices will average USD 85 per barrel and the rupee will weaken to 94 against the dollar by FY27, according to its bi-annual Monetary Policy report.
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.
Insights from behavioural economics suggest that an ambitious nudge can be effective if three conditions are met, points out Ram Singh Insights from behavioural economics suggest that an ambitious nudge can be effective if three conditions are met, points out Ram Singh, director, Delhi School of Economics.
Indian stock markets are poised for volatility this week, driven primarily by the outcomes of five state assembly elections, ongoing high crude oil prices amid West Asia tensions, and the release of Q4 corporate earnings, according to market analysts.
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.
India's sugar consumption is projected to fall by nearly 400,000 tonnes in the 2025-26 season, primarily due to the ongoing liquefied petroleum gas (LPG) shortage exacerbated by the West Asia conflict and unseasonably cool weather.
India plans to further cut imports from Iran by 13 per cent next fiscal even though easing of US and western sanctions has made buying crude oil from the Persian Gulf nation easier.
Srivastava warned that continued bombing of Iran by the US and Israel could severely undermine any prospects of reopening critical maritime routes through negotiation with Tehran.
The United States and India are on the verge of finalising a landmark bilateral trade deal, aiming to boost trade to USD 500 billion by 2030, according to US Deputy Assistant Secretary of State Bethany Poulos Morrison. The agreement seeks to open India's 1.4 billion-strong market to American goods on reciprocal terms, with ongoing high-level discussions to recalibrate the pact after recent changes in US tariff policy.
Responding to the questions from Congressmen, Assistant Secretary of State for South and Central Asia, Robert Blake said India is making progress in this regard not because of any pressure from the US, but because of "financial and commercial considerations".
US Vice-President J D Vance's unexpected phone call to Prime Minister Narendra Modi on August 8 has ignited speculation about a potential diplomatic overture, possibly seeking India's support amidst the escalating US-Iran conflict and a shifting global power landscape, suggests Ambassador M K Bhadrakumar.
India emerged reasonably well from 2025. But now, the oil shock and war-related supply disruptions have again driven funds out of India and significantly weakened the rupee, points out Ajay Chhibber.
'Think of the brain like a machine, and Alzheimer's is like rust.'
'Like a rusty machine breaks down, a rusty brain also breaks down. And when it breaks down, you have memory loss, cognitive issues and so on.'
A flight may be cancelled for reasons beyond an airline's control. The chaos that follows need not be, points out Air Commodore Nitin Sathe (retd).
Analysts predict that the US-Iran geopolitical conflict, upcoming quarterly earnings announcements, and fluctuations in crude oil prices will be the primary drivers of investor sentiment in the Indian equity markets.
