global petroleum prices

According to CII president Sanjiv Bajaj, India’s GDP may expand 7.4-8.2% in FY23

According to Sanjiv Bajaj, the incoming president of the Confederation of Indian Industries and chairman of Bajaj Finserv, India’s FY23 gross domestic product is predicted to expand between 7.4 and 8.2% under three scenarios of world crude oil prices. Bajaj also stated during a press conference that the government needs to significantly expand its spending […]

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fuel shortages

To address the fuel crisis, environmental permissions for coal mine expansions were eased

In response to fuel shortages that have resulted in hours-long blackouts, India has eased environmental licences for coal mine expansions. According to a government notice, certain existing facilities will be able to increase production by 10% without requiring fresh impact assessments, while requirements on contacting local communities have been relaxed. The revisions follow the coal […]

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India's exports

India’s exports increased by 24% to $38 billion in April, widening the trade deficit to $20 billion

India’s product exports increased by 24.2 percent year on year in April to $38.2 billion, the third-highest level ever, because of rising commodity prices despite the ongoing Russia-Ukraine conflict, according to preliminary trade data issued by the commerce ministry on Tuesday. The previous month had seen $42.2 billion in outbound shipments, which was a new […]

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India asks Indonesia to raise palm oil

India asks Indonesia to raise palm oil supply as prices spike: Report

India has asked Indonesia to increase palm oil shipments to the country to compensate for a loss of sunflower oil supplies from the Black Sea region due to the Ukraine crisis, several governments and industry sources in India told Reuters. India, the world’s biggest buyer of edible oil, relies on top producer Indonesia for more than half of its palm oil imports but […]

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