"India's Efforts to Secure Affordable Russian Oil Amid Tightening Sanctions" India’s state-owned refiners are expediting payments for Russian crude oil to complete transactions before expanded US sanctions take effect. These refiners now settle payments within two days instead of the usual five, aiming to secure discounted Russian oil while navigating an increasingly restricted global trade environment. The urgency stems from Washington's announcement of stricter sanctions targeting Russia’s oil industry, which are set to take effect next month. Refiners are keen to ensure transactions are completed during the “wind-down” period allowed for pre-sanctioned cargoes. At least 4.4 million barrels of Russian oil are en route to Indian ports like Jamnagar, Chennai, Paradip, and Visakhapatnam. Among these shipments is the tanker Mercury , carrying over 1 million barrels of Russian Urals crude, expected to arrive in Paradip soon. This vessel loaded its cargo in mid-December ...
India’s Journey Back to Glory: A Renaissance of Strength and Power India, often referred to as the cradle of ancient civilization, has been a beacon of culture, knowledge, and wealth for centuries. Its historical dominance as a global power in trade, education, and innovation was disrupted by centuries of colonization and exploitation. However, in the 21st century, India is embarking on a remarkable journey to reclaim its rightful position on the global stage. The country is undergoing rapid transformations across sectors, positioning itself as a powerhouse of potential and progress. The Economic Transformation The Indian economy, one of the most resilient in the world, has become the centerpiece of its resurgence. In 2023, India surpassed the UK to become the fifth-largest economy globally, with a nominal GDP of over $3.73 trillion and a purchasing power parity (PPP) valuation exceeding $13 trillion. This meteoric rise has been fueled by reforms in taxation, infrastructure investment,...