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NEW DELHI: Prime Minister Narendra Modi on Saturday warned that continuing wars and global instability could reverse decades of development and push large populations back into poverty, as he stressed the need for resilient and trusted global supply chains.Addressing the Indian diaspora in The Hague during his visit to the Netherlands, PM Modi said the…
India’s merchandise trade deficit widened sharply to $28.38 billion in April as imports rose 10 per cent year-on-year despite a steep decline in inbound shipments from Middle East amid continuing geopolitical disruptions.Government data released on Friday showed India’s imports increased to $71.94 billion in April from $65.38 billion in the year-ago period, while exports stood…
NEW DELHI: External Affairs Minister S Jaishankar on Thursday took a veiled swipe at the US over its sanctions-led foreign policy, cautioning against “unilateral coercive measures” as India voiced concern over the worsening West Asia crisis and its fallout on global energy and trade routes.Speaking at the opening session of the BRICS foreign ministers’ conclave,…
Reserve Bank Governor Sanjay Malhotra has said the government may eventually have to raise petrol and diesel prices if the ongoing Middle East crisis continues for a prolonged period, PTI reported on Wednesday.Speaking at a conference in Switzerland on Tuesday, Malhotra said the disruption in oil and gas supplies due to the conflict and blockade…
According to S&P Global, fears regarding net foreign investment outflows have been “somewhat overstated”. (AI image) India is handling global financial headwinds more effectively than the headline figures indicate, and concerns surrounding foreign capital outflows may be exaggerated, according to S&P Global Ratings.The observations come at a time when the Iran conflict has triggered an…
The disruption in the Strait of Hormuz amid the Iran conflict has triggered a major disruption in the supply of bunker fuel for Asia, the heavy residual oil that powers most of the world’s cargo ships. It has raised concerns over higher freight costs, supply chain disruptions and rising consumer prices globally.Bunker fuel, a thick…
India has reportedly turned down Russia’s offer to sell liquefied natural gas (LNG) cargoes that are under US sanctions, despite rising energy concerns linked to tensions in the Middle East.The decision has left at least one Russia-linked LNG shipment stranded near Singapore while discussions continue over what supplies India can legally purchase.According to a Reuters…
The United Arab Emirates secretly entered the Middle East war and carried out attacks on Iran last month, the The Wall Street Journal reported, citing sources. This makes the UAE a new direct participant in the war alongside the US and Israel.According to the report, the attacks targeted a refinery located on Iran’s Lavan Island…
NEW DELHI: The central government is weighing emergency measures to bolster its foreign-exchange reserves amid the economic fallout from the US-Israel-Iran war, with officials considering steps such as raising fuel prices and restricting non-essential imports, including gold and electronic goods, Bloomberg reported citing people familiar with the matter.The report said that officials from the Prime…
NEW DELHI: Prime Minister Narendra Modi on Monday once again called for collective national efforts to reduce dependence on imports and strengthen India’s position in global supply chains, while urging citizens to avoid unnecessary spending of foreign currency during a period of global uncertainty.Speaking in Vadodara amid concerns over disruptions caused by the ongoing conflict…
