India today imports 80 per cent of its oil and 50 per cent of its natural gas needs. India is now importing oil and gas from as many countries as possible, about 40 countries now, to meet its demand.
The Union Cabinet chaired by Prime Minister Narendra Modi has approved compensation amounting to Rs 30,000 crore to the three Public Sector Oil Marketing Companies (IOCL, BPCL and HPCL) for the under- recoveries incurred on sale of domestic LPG.
India's crude oil import bill could increase by USD 9 billion to USD 12 billion, if the country stops buying Russian crude oil, according to a report by the State Bank of India (SBI).
New Delhi [India]. August 8: When it comes to daily cooking, oil is that invisible sidekick. Always in the pan, rarely on our minds. But here's the truth: not all oils are created equal and the one you use can make a big difference to both your food and your health.
India's strong domestic demand and the robust performance of its services sector will help cushion the economic impact of steep new US tariffs imposed as a penalty for continued imports of Russian crude oil, according to a report by Moody's Ratings.
"This will cause losses to our economy and industrialists because if a product costing Rs 1000 will cost Rs 1500, sales will decrease, and hence the industrialists will suffer. The GoI should think of a solid solution on this... If our foreign policy is strong, no nation will take such steps
After US President Donald Trump announced an additional 25 per cent tariff on Indian goods, Shiv Sena (UBT) MP Priyanka Chaturvedi called it "hypocrisy." She said Trump is unfairly targeting India for buying oil from Russia, while US, EU, China, and Turkey continue to trade with Russia as
Congress MP Rajeev Shukla on Thursday strongly criticised US President Donald Trump for imposing an additional 25 per cent tariff on India over its purchase of Russian oil. Calling the move "very wrong," Shukla urged the Indian government to issue a strong response, while accusing it of p
Congress MP Karti Chidambaram on Thursday questioned the Prime Minister Narendra Modi-led government's claims of a "special relationship" with US President Donald Trump, saying that the recent hike in tariffs by US was proof that the diplomatic engagement had broken down.
Congress MP Sukhdeo Bhagat on Thursday criticised Prime Minister Narendra Modi's silence over the imposition of a 25 per cent additional tariff on Indian oil imports from Russia, and said that the US President himself continues to buy uranium and fertilisers from Russia.
Following United States President Donald Trump's imposition of an additional 25 per cent tariff on India over its purchase of Russian oil, Samajwadi Party MP Awadhesh Prasad on Thursday criticised Trump, stating that his threat would not impact India's economy or unity and urged the gover