Lavrov also noted that the G20 Summit in New Delhi provided a direction towards fairness in global governance and global finance as well.
Indian Oil Corporation (IOC), the nation's top oil firm, has bought as much as 3 million barrels of crude oil that Russia had offered at steep discount to prevailing international rates, sources said. The purchase, made through a trader, is the first since Russia's February 24 invasion of Ukraine that brought international pressure for isolating Putin administration. Sources aware of the matter said IOC bought Urals crude for May delivery at a discount of $20-25 a barrel to dated Brent.
India's economy is projected to slow to 6.5 per cent in the fiscal year starting April but will remain the fastest growing major economy in the world as it fared better in dealing with the extraordinary set of challenges the globe has faced, the Economic Survey 2022-23 said on Tuesday. India's gross domestic product (GDP) growth of 6.5 per cent in 2023-24 compares with an estimated 7 per cent expansion in current fiscal year (April 2022 to March 2023) and 8.7 per cent in the previous year. Like the rest of the world, India too faced an extraordinary set of challenges in tightening financial conditions and supply chain disruptions from a prolonged war in Europe but "withstood them better than most economies", the annual document detailing the state of the economy said.
Russian President Vladimir Putin and North Korean Dictator Kim Jong Un met at a remote space centre in Russia's Far East region Amur on Wednesday, September 13, 2023.
White House Press Secretary Karine Jean-Pierre said the upcoming visit will affirm the deep and close partnership between the United States and India.
China has signalled that it will prevent India from assuming leadership of the Global South, observes Ambassador T P Sreenivasan.
The Opposition MP pointed to a set of changes taking place in India that had caught the Congress and UPA government off guard, such as a shift from rural to urban.
The current geopolitical situation necessitates the Indian Air Force to prepare for intense and small duration operations at a short notice, Chief of Air Staff Air Chief Marshal VR Chaudhari said on Thursday.
Supply chain constraints will keep plaguing automobile companies even though demand significantly improved resulting in a 13 per cent year-on-year (YoY) increase in sales in financial year 2021-22 (FY22). Executives at auto firms fear that the Russia-Ukraine war will further dent the sector's prospects of recovery as supply chains face more disruptions. "The visibility in the supply side is so hazy that it is difficult to give even one quarter projection. But all the parameters of demand like pending bookings and enquiries are increasing.
Go-getter, ambitious, dynamic, workaholic are some of the adjectives that officials who worked closely with B V R Subrahmanyam use to describe him.
'For the next two years, we expect the bulk of earnings growth contribution from sectors like financials and energy, where the outlook remains positive, while the sectors which are linked to domestic consumption and are currently witnessing strains on margins have low salience for Nifty earnings.'
Biden welcomed Prime Minister Modi at the Summit and said "it is wonderful to see you again in person".
Gold is usually seen as a safe-haven when stocks are falling or when inflation is rising. With prices of the yellow metal hovering near record highs, people are also putting off their jewellery purchases. Along with a subdued marriage season, the orders with price open and settled on delivery day, too, are getting cancelled. Apart from high, volatile prices, there is no gold rush yet for the safe-haven asset, crimping demand.
The government on Monday ruled out making public the RBI report detailing the reasons why the central bank could not keep inflation within the targeted 6 per cent upper limit for the three consecutive quarters. "Yes sir, RBI has furnished a report to the central government, as mandated under Section 45ZN of the RBI Act, 1934 and Regulation 7 of RBI Monetary Policy Committee and Monetary Policy process Regulations, 2016," minister of state for finance Pankaj Chaudhary said in a written reply. The said provisions of the RBI Act, 1934, and regulations therein does not provide for making the report public, he said.
Known to be having extensive expertise in dealing with India's neighbourhood as well as the US, China and Europe, the 1988-batch Indian Foreign Service (IFS) officer pipped nearly half-a-dozen others in the race for the coveted post including Indian High Commissioner to UK Gaitri Issar Kumar (1986-batch IFS) and Ruchira Kamboj (1987 batch IFS).
The dreary, cold months from December to February may prove to be the undoing of many a nation as they grapple with sky-high fuel prices - a result of the Ukraine conflict and the pandemic. Many - Europe, South Korea, Japan, and China - will still pull through on the strength of their wealth or because of strong storage infrastructure. But India will have its back to the wall. Signs of liquefied natural gas (LNG) rates hitting new records this winter are already evident.
India decisively withstood global headwinds in 2023 and is likely to remain as the world's fastest-growing major economy on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange reserves. Despite widespread pessimism witnessed among the developed nations and the worsening geopolitical situation, India recorded a gross domestic product (GDP) expansion of 6.1 per cent in the March quarter. The growth moved up to 7.8 per cent in the June quarter and was 7.6 per cent in the September quarter. For the first six months of this fiscal, the growth was 7.7 per cent.
The Russian defence ministry said that Ukrainian forces hit six rockets of HIMARS at the temporary deployment point of one of the units of Russian armed forces in Makiivka region of Donetsk.
The military conflict around the Zaporizhzhia nuclear power plant in Ukraine -- Europe's largest nuclear plant -- has raised fears of an accident worse than the Chernobyl accident in 1986.
'The wise men learn lessons in war.' 'The smart men learn lessons from others, it's only the foolish who learn the wrong lesson.'
"Our primary focus is to get Indian students out of conflict zones in eastern Ukraine," the MEA spokesperson said.
In a statement ahead of his visit to the Indonesian city for the G20 leaders' summit, Modi said he will also highlight India's achievements and its 'unwavering commitment' to collectively address key global issues.
Pakistan Prime Minister Imran Khan said on Tuesday that he would like to have a TV debate with his Indian counterpart Narendra Modi to resolve differences between the two neighbouring countries.
As the Ukraine conflict impacts the global GDP, India is projected to grow by 6.4 per cent in 2022, slower than the last year's 8.8 per cent but still the fastest-growing major economy, with higher inflationary pressures and uneven recovery of the labour market curbing private consumption and investment, according to a UN report. The UN Department of Economic and Social Affairs said in its World Economic Situation and Prospects (WESP) report released on Wednesday that the war in Ukraine has upended the fragile economic recovery from the pandemic, triggering a devastating humanitarian crisis in Europe, increasing food and commodity prices and globally exacerbating inflationary pressures. The global economy is now projected to grow by only 3.1 per cent in 2022, down from the 4.0 per cent growth forecast released in January 2022.
Petrol and diesel prices were on Tuesday hiked by 80 paise a litre while domestic cooking gas prices were increased by Rs 50 per cylinder, ending an over four-and-half month election-related hiatus in rate revision, sources said. Petrol in Delhi will now cost Rs 96.21 per litre as against Rs 95.41 previously while diesel has gone up from Rs 86.67 per litre to Rs 87.47. Simultaneously, the price of a non-subsidised LPG cylinder has been increased to Rs 949.50 for each 14.2-kg bottle in the national capital.
'It makes sense to have gold in one's portfolio keeping the political and economic risks of 2024 in mind.'
'The clean break between Russia and Europe that this foolish attack is creating may actually last long.' 'It will undermine Europe and benefit the US and China.'
A strong appetite for gold on Friday's Dhanteras is expected this year due to auspicious reasons and geopolitical concerns, continuing the 2022 trend driven by pent-up COVID demand. Compared to last year's Dhanteras, gold prices have jumped 22 per cent and silver prices by 21 per cent, respectively. "Gold and silver are good for portfolio diversification, especially in times of geopolitical turbulence.
The incident goes back to last month when Sunak made a quick visit to his hometown of Southampton to launch a new government scheme for the state-funded National Health Service (NHS) to expand the role of high street pharmacies.
"This escalation of violence must stop," Haley warned.
With several Indians still stuck in strife-torn Ukraine, the government is pushing out videos on various platforms, including social media, on how to remain safe in a war zone.
Abdollahian, who is on his first visit to India since he assumed office last year, raised the issue of the controversial remarks, made by two former Bharatiya Janata Party spokespersons, in his meeting with National Security Advisor Ajit Doval in the national capital on Wednesday.
Russian President Vladimir Putin on Monday assured Prime Minister Narendra Modi that his forces are doing everything to evacuate the stranded Indian citizens, mostly students, from the war-torn eastern Ukrainian city of Sumy, according to his office.
'For the first time, all major countries are discovering India's indispensability to their own foreign policy interests.'
Britain's third female prime Minister, Liz Truss, was out of office on Thursday after the shortest tenure at 10 Downing Street in London and without a cherished India-UK free trade agreement (FTA) under her belt as a Brexit prize.
India is 'deeply concerned' at the deteriorating security situation and astounding loss of civilian lives in the ongoing conflict.
The Taiwanese foreign minister said the time has come for all democratic countries to find ways to deal with China's expansionist agenda and its military muscle flexing, especially in the maritime domain.
Singh also said that India will give a befitting reply to anyone threatening its unity, sovereignty and territorial integrity as it no longer remained a "weak" country.
The wholesale price-based inflation in February rose to 13.11 per cent on hardening of prices of crude oil and non-food items, even though food articles softened. After two months of mild easing, WPI inflation accelerated in February and remained in double digits for the 11th consecutive month, beginning April 2021. WPI inflation last month was 12.96 per cent, while in February last year, it was 4.83 per cent. The rise in crude oil and natural gas prices after the Russian invasion of Ukraine, beginning February 24, has put pressure on the wholesale price index, even though food articles saw softening across categories of vegetables to pulses to protein-rich items.
Jaishankar said he apprised Prime Minister Shmyhal of "India's principled position that emphasises cessation of all hostilities and return to dialogue and diplomacy."
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