India’s exports in FY22 mainly led by petroleum, farm and metal related shipments

India’s record exports of $ 422 billion in FY22 came on the back of stellar performance of key segments, such as petroleum products, chemicals, agriculture, base metals, electronics and gems & jewellery and textiles and garments, suggesting a broad-based resurgence after a Covid-induced slide in the previous fiscal.  While a spike in global crude oil […]

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India to boost shipments to Russia by $ 2 billion

India is planning to boost shipments to Russia by an additional $2 billion as the two nations work out a payment system in local currencies to continue bilateral trade amid sweeping international sanctions on Russia for invading Ukraine. The Prime Minister Narendra Modi’s administration is in talks with Moscow to liberalise market access for several […]

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US-based Powin ties up with O2 Power for energy storage solutions in India

O2 Power Pvt. Ltd (O2 Power), a renewable energy producer in India, and Powin LLC (Powin), a US based global leader in the design, manufacturing and integration of safe and scalable battery energy storage solutions, have signed a memorandum of understanding to provide customized and competitive battery storage solutions for the Indian renewable energy market. […]

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India likely to import 11% more crude from the US this year

India’s oil imports from the United States will rise by 11% this year, as the severely energy-deficient country looks to secure supplies from producers around the world, including heavily-sanctioned Russia. The surge in oil prices following Russia’s invasion of Ukraine last month threatens to fan Indian inflation, stretch public finances and hurt growth just when […]

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India’s Oil Marketing Companies scrambling to buy discounted Russian crude

Close on the heels of Indian Oil Corporation (IOC) buying Russian crude, Hindustan Petroleum Corporation Ltd (HPCL) has also bought two million barrels of Russian crude oil as Indian refiners stepped up efforts to secure Russian oil available at deep discounts. Just like IOC, HPCL also bought Russian Urals crude through European trader Vitol. Separately, Mangalore Refinery and […]

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India to join US in a co-ordinated release of crude oil from its strategic reserve storage; immediate retail price hike unlikely

India, the world’s third largest energy importing and consuming nation said it is closely monitoring the global energy markets to track any supply disruptions following the Russia-Ukraine conflict, and will support release of oil from strategic storages to cool prices. International oil prices climbed to an over seven-year high of over $ 105 a barrel […]

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Fear of Russia-Ukraine crisis impacting commodities market

Several commodity markets are starting to price in some geopolitical risk around the growing tension between Russia and Ukraine. There is still plenty of uncertainty over how the situation will evolve, but it is still worthwhile to look at what the potential impact could be should tension boil over into a conflict. A scenario where […]

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