The West Asia conflict is reshaping India’s risk management and creating an opportunity to accelerate and complete its energy reform agenda, underline S&P Global and Crisil analysts. The sustained nature of the West Asia war is changing Indian risk management from providing immediate buffers to reorienting medium- to long-term strategies. Even before the conflict, the...
Tag: crude oil imports
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Moily says India to save $8.5 bn via Iran oil imports
By increasing crude oil imports from Iran, India plans to save over $ 8.5 billion in foreign exchange this fiscal, said the Union Petroleum and Natural Gas Minister Marpadi Veerappa Moily. Moily told this to Prime Minister Manmohan Singh in a written communication on August 30. India, which paid about $144.29 billion last fiscal for importing oil, is renewing imports from Iran and, unlike imports from other countries, it pays Iran in rupees.