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  • World Bank Cuts India Growth Forecast Citing Global Risks

    India’s gross domestic product will grow 6.5% in the year to March, the Washington-based institution said in its South Asia Economic Focus report released Thursday. That revision, along with a 1.4 percentage point cut to crisis-ridden Sri Lanka’s growth outlook, pulled the region’s 2022 forecast down to 5.8% from 6.8% seen in June, even though the outlook for five other countries in the region were upgraded.

  • India gets unusual praise from Saudi Arabia’s World Muslim League

    Hailing Mahatma Gandhi for being a pioneer of the philosophy of non-violence, the Muslim World League, for the first time, paid tribute to Gandhi on his 153rd birth anniversary and said that the day should be an occasion to spread the message of non-violence internationally.

  • India is on track to attract $100 billion FDI this fiscal, says government

    India is on track to attract $100 billion in foreign direct investment (FDI) in the current fiscal on account of economic reforms and ease of doing business, the government said on September 24, 2022. In 2021-22, the country received the "highest ever" foreign inflows of $83.6 billion.

  • India will consume 40% more coal than now over the next deacde

    In India’s energy transition, solar will emerge as a dominant source of energy, but coal is still going to be the mainstay of the country’s energy sector. In the coming decade, at least 40% more coal consumption is estimated in India. These trends are reflected in the draft version of the National Electricity Plan (NEP) released by the Central Electricity Authority (CEA), which gives a glimpse of the energy transition happening in India.

  • Saudi overtakes Russia to be India’s No. 2 oil supplier in August

    Saudi Arabia emerged as the second-biggest oil supplier to India after a three-month gap, overtaking Russia by a thin margin, while Iraq retained the top spot in August, data from industry and trade sources showed. India, the world's third biggest oil importer and consumer, shipped in 863,950 barrels per day (bpd) of crude from Saudi Arabia, up 4.8% from the previous month, while purchases from Russia fell 2.4% to 855,950 bpd, the data showed.

  • Pakistan urged to open up India route to flood aid

    International aid agencies struggling to help hundreds of thousands of people displaced by deadly floods in Pakistan have asked for the easing of curbs on imports of food from Pakistan's old rival India, a Pakistani minister said on Wednesday. Unusually heavy monsoon rains have triggered floods that have submerged a third of the country and killed more than 1,100 people, including 380 children. The United Nations has appealed for $160 million to help with what it termed as an "unprecedented climate catastrophe"

  • Ma’aden signs deals with top Indian fertilizer companies

    Saudi Arabian Mining Company (Ma’aden), one of the fastest-growing mining companies in the world, has signed four MoUs in a move aimed at doubling its phosphate products and ammonia exports to the Asian economic major next year. The deal was signed in the presence of Bandar Alkhorayef, Saudi Arabia’s Minister of Industry and Mineral Resources, Dr Mansukh Mandaviya, India’s Minister of Chemicals and Fertilizers, and Robert Wilt, CEO of Ma’aden.

  • Abu Dhabi’s IHC Plans to Invest Billions in India, Indonesia, Turkey, More

    International Holding Co. plans to invest billions of dollars in markets including Indonesia, Colombia, Turkey and India as the United Arab Emirates firm controlled by the country’s national security adviser steps up its breakneck expansion. IHC, the UAE’s most valuable listed firm, will target sectors such as food, infrastructure and health care across these countries and investments will range from $1 billion to $5 billion depending on the country and opportunity, Chief Executive Officer Syed Basar Shueb said in an interview.

  • 75 Years Later, the Fading Ghosts of India’s Bloody Partition

    The chaos, confusion and religious violence that accompanied the cleaving of Pakistan from India 75 years ago this week resulted in the deaths of up to two million people and unleashed one of history’s largest displacements, with Hindus and Muslims from once-mixed communities rushing in opposite directions to new homelands created along religious lines.

  • Russia Undercuts Saudi Oil in India as Competition Heats Up

    Russian barrels were cheaper than Saudi crude during April through June, with the discount widening to almost $19 a barrel in May, according to Bloomberg calculations based on Indian government data. Russia surpassed the kingdom as the second-biggest supplier to India in June, ranked just behind Iraq.