The Indian government has extended the Reserve Bank of India's (RBI) mandate to maintain retail inflation at 4 per cent, with a tolerance band of 2 per cent on either side, for another five years until March 2031.
The Russia-Ukraine war is likely to improve the export profile of landlocked Chhattisgarh, which has already nearly tripled during the past three years. Chhattisgarh's exports reached Rs 25,241.13 crore in the financial year 2021-22 against Rs 9,067.92 crore worth of products shipped in 2019-20, according to the state government's data. While exports of iron and steel surged seven and a half times, rice shipping increased 4.68 times.
'We had very narrow negotiations that were quite useful.'
India abstained on two UN General Assembly resolutions calling for a de-escalation, an early cessation of hostilities and a peaceful resolution of the war against Ukraine. The resolutions were adopted on the third anniversary of the Russia-Ukraine conflict, with the UN Secretary General stressing that the war in Ukraine stands as a grave threat to the peace and security of Europe and the core principles of the United Nations.
US President Donald Trump claimed he resolved the India-Pakistan conflict earlier this year with trade and asserted that he should receive the Nobel Peace Prize for "ending seven wars."
Games open in Verona with calls for unity amid wars and athlete absences
Zelenskyy also stated that documents being drafted with Washington, DC to end the war were close to completion.
Russian President Vladimir Putin, in his address to the Federal Assembly (Russia's bicameral parliament) on Sunday, stated that Moscow had developed a small-sized nuclear power unit that could be used in a cruise missile to extend its range practically indefinitely.
Silver prices rallied sharply by Rs 15,000 to hit a lifetime high of Rs 265,000 per kg in the national capital on Monday, and gold advanced to a fresh record of Rs 144,600 per 10 grams, mirroring strong gains in the global markets.
Foreign brokerages have started to cut their year-end targets for the Nifty 50 index amid the ongoing West Asia conflict.
A projectile struck near Iran's Bushehr Nuclear Power Plant, resulting in one security personnel casualty and damage to an auxiliary building. The incident has raised concerns about nuclear safety and potential regional consequences, drawing criticism from Iranian officials and prompting calls for restraint from the IAEA.
India on Tuesday pressed Russia to release all the Indians recruited by the Russian military, following the death of another Indian national in the Russia-Ukraine conflict zone, taking the death toll to 10.
Putin argued that European countries are putting forward demands related to the conflict that Russia cannot accept. He further accused Europe of obstructing initiatives by the United States and President Donald Trump to pursue a negotiated settlement.
India should not stay on the margins of this initiative. There should be a serious debate about what would be in India's best interests asserts former foreign secretary Shyam Saran.
'There is a solution only for the organisation of humanitarian corridors,' Advisor to the Head of the President's Office of Ukraine Mykhailo Podoliak said on Twitter.
Russia is among the top buyers of Indian tea, accounting for about 18 per cent of the industry's total exports.
The proposed visit is being planned around the Ukrainian National Day of August 24 and the prime minister may also travel to Poland as part of a two-nation tour, they said.
From just 0.2 per cent before the Russia-Ukraine war to now accounting for 35-40 per cent of total crude imports, India's reliance on Russian oil has surged -- drawing fresh scrutiny with US President Donald Trump announcing a penalty on top of a 25 per cent tariff, or tax, on all goods going to the US.
Iranian Foreign Minister Seyed Abbas Araghchi on Saturday criticised the United States over its stance on Russian oil, claiming Washington was now "begging" countries across the globe, including India, to purchase Russian crude.
Days after Russia alleged that Ukraine targeted President Vladimir Putin's official residence in a drone attack, Russian authorities on Thursday said they had shared what they described as evidence related to the incident with the United States, Anadolu Agency reported.
China has criticised the US blockade of the Strait of Hormuz, calling it a dangerous and irresponsible move, and urged Washington and Tehran to honour the ceasefire. Beijing also denied aiding Iran militarily and threatened countermeasures if the US imposes tariffs.
Prime Minister Narendra Modi on Tuesday conveyed to Russian President Vladimir Putin that India stands ready to provide all possible cooperation towards ending the Russia-Ukraine conflict and that dialogue and diplomacy is the only way to bring peace to the region.
Notably, Ukrainian forces disabling bridges across the Dnipro river and attacking Russian supply lines made it very difficult for Russia to defend the occupied territory.
Revenue collection next financial year may be affected, and, along with this, subsidies on food and fertilisers can go up if the war in West Asia drags for long, according to experts.
Global rating agency Moody's on Monday said the high commodity prices and supply chain disruptions due to further escalation in the Russia-Ukraine crisis could expose about 42 per cent of rated Indian companies to significant risks. They are mainly in the oil and gas and automotive sectors. The impact may be seen under two scenarios: first, revised base line and second being downside economic scenarios incorporating a global recession and a more severe liquidity squeeze, it said. The military conflict between Russia and Ukraine is impacting companies in Asia Pacific, adding to existing challenges from supply chain disruption and the coronavirus pandemic.
United States President Donald Trump on Sunday said a peace agreement to end the Russia-Ukraine war is getting 'very close', after a high-level meeting with Ukrainian President Volodymyr Zelenskyy at his Mar-a-Lago resort in Florida.
Putin said that the Indian leader had "aptly" noted that it is "not an anti-western one but a non-western one".
'Russia, as you know, lost almost 25,000 over the last month and a half. Ukraine lost just a few, and lots of people are dying.'
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
The G20's Bali Declaration Wednesday acknowledged differences among members on the Russia-Ukraine war but said it was essential to adhere to international law, including protection of civilians caught in conflicts.
The Congress party has criticized Prime Minister Narendra Modi following repeated claims by former US President Donald Trump that he brokered peace between India and Pakistan.
Gold extended its record-breaking run to breach the Rs 1.5 lakh per 10-gram mark in futures trade on Tuesday, while silver surged to a lifetime high of Rs 3.27 lakh per kg as investors rushed to safe-haven assets amid mounting global tensions. On the Multi Commodity Exchange (MCX), gold futures for February delivery climbed Rs 6,861, or 4.7 per cent, to record Rs 1,52,500 per 10 grams after settling at Rs 1,45,639 per 10 grams in the previous session.
United States President Donald Trump said on Tuesday that his special envoy Steve Witkoff would be visiting Moscow next week to meet Russian President Vladimir Putin, with Trump's son-in-law Jared Kushner might going with Witkoff too.
Russian Foreign Minister Sergei Lavrov stated that Russia does not intend to attack Europe, but any attack on Russia would face a devastating response. He also accused the EU's 'war party' of hindering Ukraine peace efforts and pledged support for China on Taiwan.
The Congress has strongly criticised the US government's temporary waiver allowing India to purchase Russian oil, raising concerns about continued 'American blackmail' and its impact on India's energy policy.
Speaking at a joint press conference with Belarus President Alexander Lukashenko on Thursday, Putin said that Russia agrees with the proposals to cease hostilities but "proceeds from the assumption that this cessation should lead to long-term peace and eliminate the root causes of the crisis."
India and France have elevated their relationship to a 'special global strategic partnership,' with increased cooperation in defense, trade, and technology. The leaders also inaugurated a helicopter assembly line in Karnataka.
"The responsibilities of member states must be assumed by member states and let's not make the UN the scapegoat of the failures or of the negative actions that are committed by member states," he said.
Since May 10, when Trump announced on social media that India and Pakistan had agreed to a "full and immediate" ceasefire after a "long night" of talks mediated by Washington, he has repeated his claim over 60 times that he "helped settle" the tensions between the two neighbours.
His assertion came after Trump claimed that his "friend" PM Modi has assured him that India would stop purchasing oil from Russia, a move he described as a big step toward increasing pressure on Moscow over its invasion of Ukraine.
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