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US President Donald Trump's waiver from sanctions, restrictions and tariffs under the Sanctioning Russia and Iran Act (SRIA) gives India temporary relief but offers no lasting certainty, and New Delhi should safeguard its energy security and buy oil on commercial terms, think tank GTRI said on Saturday. It said that the move gives India relief from threatened additional duties of up to 100 per cent linked to Russian oil purchases. "But the relief is reversible. Washington can restore the tariffs anytime, leaving India and other buyers uncertain about future US action," the Global Trade Research Initiative (GTRI) said. It also said SRIA remains a law, leaving Washington free to revive the tariff threat to extract concessions in bilateral trade talks. The think tank added that Russia's share of Indian oil imports fell from 51 per cent in July to 44 per cent in August as India bought more from the US, despite higher prices, and from the UAE. "For India, the waiver buys time but offer
India-US ties have grown significantly over the past year, with Washington emerging as an important energy supplier to New Delhi as it diversifies its sources, a senior US official has said. US Department of State Deputy Assistant Secretary Bethany Morrison on Thursday said the relationship between the two countries now spans energy, defence, commercial cooperation and multilateral engagements, with South Asia becoming a major priority for the Trump administration. "When you look at India, just over the last year with the US-India partnership, the scale and breadth of that relationship has grown from last year," Morrison said at a roundtable organised at the New York Foreign Press Centre. She also cited the 10-year defence framework agreement between India and the US and new initiatives in the energy sector as examples of the expanding partnership. "India for the first time in 20 years reformed their nuclear regulatory environment by passing the SHANTI Act, and now we're moving ...
India remains firmly committed to ensuring energy security for its 1.4 billion people, and it will continue to do so through diversified sourcing, the Ministry of External Affairs (MEA) said on Thursday while reacting to the US' Russia sanctions legislation. The US House of Representatives has passed the Lindsey O Graham Sanctioning Russia and Iran Act that authorises President Donald Trump to impose sanctions on Russia and steep tariffs on its trading partners such as India and China in the oil and gas sector. "As stated on several earlier occasions, India remains firmly committed to ensuring energy security for its 1.4 billion people," the MEA said in a statement. "It will continue to do so through diversified sourcing and on the basis of evolving market dynamics," it said. The MEA said the issue has been "discussed at high levels in recent months with various US interlocutors". "Its potential implications for not just the bilateral relationship but also the international energy
Top ministers for Indonesia and China discussed increasing defence cooperation and strengthening food and energy security between the two Asian nations during meetings on Friday in Jakarta. Indonesian Foreign Minister Sugiono said they aimed to ensure a new bilateral dialogue delivered progress toward their priorities for strengthening cooperation: political, economic, security, maritime and people-to-people relations. China's Foreign Minister Wang Yi said Indonesia and China also agreed to better coordinate on their major priorities of development and security, so as to provide strong safeguards for the modernisation of both countries. "We will jointly oppose unilateral bullying and power politics. We must also remain vigilant against attempts in the region to challenge the outcomes of victory in World War II and turn back the wheel of history. We should safeguard international fairness and justice, as well as the legitimate rights and interests of developing countries," Wang said
Jaipur-based Shera Energy is targeting 25-30 per cent revenue growth in the current financial year, supported by capacity expansion and foray into new value-added products to cater to the power and renewable energy sectors, according to a top company official. The NSE-listed company, which is also into recycling, began operations in 2003 with aluminium winding wires and had annual revenues of around Rs 20 crore during its early years, its Chairman and Managing Director Naseem Sheikh said in an interaction with PTI. In FY26 Shera Energy reported annual turnover of Rs 1,640 crore. The company manufactures winding wires and other electrical products using copper, aluminium and brass, catering primarily to transformers, motors and other electrical equipment. "This year, we intend to grow another 25-30 per cent on our revenues and bottom line," Sheikh said. To achieve its goal, Shera Energy is expanding its product portfolio into higher value-added segments, including solar ribbon and