 "India’s oil minister vows to purchase low-cost Russian oil, navigating sanctions while aiming to boost energy independence and gas usage.")
India is poised to continue purchasing oil from Russian suppliers due to favorable prices, as confirmed by Oil Minister Hardeep Singh Puri. With Western sanctions on Russia limiting oil prices, India is determined to buy from the cheapest sources, highlighting that they are not alone in this approach, as countries like Japan and various European ...
 "India scrapped minimum export prices on key commodities, aiming to boost farmer incomes and curb inflation before crucial elections.")
The Indian government recently made significant changes to its export policies to stabilize farm prices and manage inflation ahead of upcoming state elections in Haryana, Jharkhand, Jammu & Kashmir, and Maharashtra. Notably, the minimum export price on onions was eliminated, dropping from $550 per tonne. Additionally, the export duty on onions was reduced from 40% ...
 "India’s shipbuilding industry sees a potential boost as Japan and South Korea express interest in investments and collaboration.")
Union Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal, announced that Japan and South Korea are interested in investing in India’s shipbuilding industry. This could lead to direct investments, joint ventures, and technology sharing, enhancing India’s capabilities in this sector. To further develop shipbuilding, the ministry plans to create multiple clusters with the help of ...
In a significant win for the Aam Aadmi Party (AAP), the Supreme Court granted bail to Delhi Chief Minister Arvind Kejriwal on September 13, 2024, regarding a case linked to the now-abandoned liquor excise policy. Justices Surya Kant and Ujjal Bhuyan agreed on granting bail but disagreed about the legality of Kejriwal’s arrest by the ...
 "LG Electronics plans a .5 billion IPO for its Indian unit, aiming to boost revenue and capitalize on India’s growth potential.")
LG Electronics is planning a potential initial public offering (IPO) for its Indian business, aiming to raise between $1 billion and $1.5 billion. This move could value LG Electronics India Pvt Ltd at around $13 billion. The company has selected major banks like Bank of America, Citigroup, JPMorgan Chase, and Morgan Stanley to manage the ...
 "Government raises customs duties on edible oils to boost farmer incomes, while also slashing onion export duties for increased trade.")
The Indian government has announced an increase in customs duties on crude palm and refined sunflower oil, raising them to 20% and 32.5%, respectively. This move is expected to significantly benefit farmers, especially those in key producing states like Maharashtra and Madhya Pradesh, as it will help raise their income. Additionally, the government removed the ...
 "Lulu Group plans to boost Indian agricultural imports to Rs 15,000 crore, emphasizing organic produce as expansion accelerates globally.")
Lulu Group, based in the UAE, is aiming to boost its Indian agricultural procurements to Rs 15,000 crore within the next two years as part of its global expansion. Chairman M A Yusuff Ali announced a special focus on organic products, targeting an initial value of Rs 2,000 crore, which could rise to Rs 4,000 ...
India and the United Arab Emirates (UAE) have strengthened their energy cooperation by signing four agreements during Prime Minister Narendra Modi’s meeting with Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan. Key agreements include a long-term LNG supply deal between Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation, along ...
 "NLC India seeks to accelerate mining at Machhakata coal block, aiming for a major boost in its production capacity by 2030.")
NLC India Ltd, a state-owned company, is planning to begin mining at the Machhakata coal block in Odisha ahead of schedule. This block, the largest among NLCIL’s mining projects, holds 1.4 billion tonnes of coal reserves and a capacity of 30 million tonnes per annum. NLCIL successfully bid for the Machhakata coal block in a ...
 "Trade Minister Piyush Goyal advocates for a border adjustment tax to protect India’s steel industry from predatory imports and boost production.")
Trade Minister Piyush Goyal recently proposed a border adjustment tax (BAT) to protect India’s steel industry from cheap imports. Speaking at a steel conclave, he emphasized the need for this tax to level the playing field, as Indian producers face higher costs due to local taxes. However, some experts suggest that BAT might only slightly ...
