Author: Team Admin

New Delhi: Retail prices of petrol and diesel in India are unlikely to see an immediate increase despite a sharp rise in global crude oil rates following recent military strikes on Iran and Tehran’s retaliatory actions. International oil markets reacted strongly to the escalation, with Brent crude climbing nearly 9 per cent to around 80 dollars per barrel. US traded crude also rose 8.6 per cent to about 72.79 dollars from roughly 67 dollars at the end of last week. The surge has revived concerns about supply disruptions and higher energy costs worldwide. However, domestic pump prices are expected to…

New Delhi: India’s manufacturing sector expanded at its fastest pace in four months in February, supported by strong domestic demand even as export growth softened, according to the latest survey data. The HSBC India Manufacturing Purchasing Managers’ Index, compiled by S and P Global, rose to 56.9 in February from 55.4 in January. Although the reading was slightly below the preliminary estimate of 57.5, it remained well above the 50 mark that separates expansion from contraction, signalling sustained growth in factory activity. The improvement was largely driven by robust domestic orders, which increased at their strongest rate since October. Production…

New Delhi: A severe disruption in global oil shipments through the Strait of Hormuz has intensified concerns over India’s fuel security, as hundreds of tankers remain stranded and crude flows drop sharply amid escalating conflict in West Asia. Shipping data indicates that traffic through the strategic waterway has slowed dramatically. On March 1, only three tankers carrying about 2.8 million barrels transited the strait, a steep fall from the average daily movement of nearly 19.8 million barrels this year. By early March 2, just two small vessels were reported to have crossed the main channel. Although the strait has not…

New Delhi: With tensions escalating in West Asia, the Ministry of Petroleum and Natural Gas conducted a high level review on Monday to assess the availability of crude oil, LPG and other essential petroleum products across the country. The meeting, chaired by the Petroleum and Natural Gas Minister, was attended by senior ministry officials and representatives of public sector undertakings. The review focused on evaluating current supply levels and preparedness in light of growing instability in the Middle East. In an official statement, the government said it is closely tracking developments and remains committed to ensuring that critical petroleum products…

New Delhi: Amid the deepening conflict in West Asia, Prime Minister Narendra Modi chaired an emergency meeting of the Cabinet Committee on Security to assess the situation, with particular focus on the safety of nearly 90 lakh Indian nationals residing in the region. The high level meeting lasted three hours and followed a sharp military escalation after coordinated airstrikes by the United States and Israel on Iran. Tehran responded by targeting American allies in the Gulf, including areas in the United Arab Emirates and Qatar, significantly widening the scope of the confrontation. India’s top decision making body was extensively briefed…

New Delhi: As the conflict in West Asia entered its fourth day, Congress Parliamentary Party Chairperson Sonia Gandhi criticised the Indian government’s response to the killing of Iran’s Supreme Leader Ali Khamenei in a joint United States and Israel strike. In an opinion article published in The Indian Express, Gandhi described the assassination of a sitting head of state during ongoing negotiations as a serious rupture in international relations. She wrote that Iran confirmed the killing on March 1 following a targeted strike carried out a day earlier. According to her, New Delhi’s restrained reaction was as striking as the…

New Delhi: India and Canada have moved to significantly strengthen their bilateral relationship with a series of key agreements covering uranium supplies, critical minerals and a broader economic partnership framework. During talks between Prime Minister Narendra Modi and Canadian Prime Minister Mark Carney, the two sides agreed to expedite negotiations on a Comprehensive Economic Partnership Agreement. Both leaders set an ambitious target of raising bilateral trade to USD 50 billion by 2030, signalling a renewed focus on unlocking untapped commercial potential. A central outcome of the discussions was a USD 2.6 billion agreement for uranium supplies from Canada to India.…