Congress President Mallikarjun Kharge on Friday said that India's strategic autonomy and national sovereignty are under "dire threat" as the United States allowed a 30-day waiver for New Delhi to purchase Russian oil amid shipping routes passing through the Strait of Hormuz being hampered
Leader of Opposition in Lok Sabha, Rahul Gandhi, on Friday described Indian foreign policy as "exploitation of a compromised individual," after the United States allowed a waiver for India to purchase Russian oil, amid shipping routes passing through the Strait of Hormuz being hampered.
He gave the public and private players in the maritime sector the goal of placing India among the top ten shipbuilding nations by 2030 and among the top five nations by 2047.
Escalating tensions in West Asia, particularly around Iran and the Strait of Hormuz, could pose near-term risks to global markets through higher energy prices, though India's underlying economic momentum remains relatively resilient, according to a report by Jefferies.
Congress MP Jairam Ramesh on Friday cornered the Central government after US permitted Indian refiners to purchase Russian oil, which he believed is "American blackmail" on India.
Congress MP Shashi Tharoor pushed for diplomacy and negotiated settlement as the West Asia Conflict continued to escalate, hampering the trade through the Strait of Hormuz.
Congress MP Manish Tewari on Friday questioned the Centre over sovereignty as the United States allowed a 30-day waiver for India to purchase Russian oil amid a crisis in the Gulf hampering shipping routes that pass through the Strait of Hormuz.
United States on Friday (local time) issued a temporary waiver allowing Indian refiners to continue purchasing Russian oil already stranded at sea for the next 30 days to enable oil to keep flowing into the global market.
Every USD 10 per barrel increase in global crude oil prices could reduce India's GDP growth by about 0.5 per cent and add pressure on economic activity, inflation and currency stability, given the country's heavy reliance on imported crude, Vandana Bharti, Research Head - Commodity, SMC Glob
Crude-linked sectors such as downstream oil refiners, tyres, paints, speciality chemicals, flexible packaging and synthetic textiles may also be affected if energy prices remain elevated.
India imports around 85 per cent of its crude oil and half of its LNG requirement, with about 40-50 per
Escalating tensions due to the West-Asia conflict involving Iran have heightened risks to global energy supply chains, particularly around the strategic Strait of Hormuz, raising concerns for major Asian importers, including India, according to a report by Goldman Sachs.
Lok Sabha Leader of Opposition Rahul Gandhi on Thursday again cornered Prime Minister Narendra Modi over his "silence" after a US submarine sank the Iranian warship "IRIS Dena" near Sri Lanka.