The jump in jet fuel—had it been implemented in full—would have been a heavy burden for local airlines, which are already grappling with thin margins, and domestic passengers.
The deal was signed during PM Modi's visit to the UAE last week, said IOC adding that India's trade treaty with the UAE enables it to import LNG without paying a 2.5% import tax.
The drop in sales is a reminder that the recovery path for India’s economy, which technically entered a recession last week, will likely be a bumpy one as Covid rages unabated.
India can sell as much as 26.4% of its holding in Indian Oil — valued at about Rs 330 billion — and still retain indirect control. The govt is looking to raise a record Rs 1.05 trillion given sluggish revenue collection.
Under Article 324, the ECI requisitions central forces to ensure free and fair polling. But once the ballot boxes are sealed, that authority begins to fade.
By pairing Indian drone engineering with Japanese semiconductor expertise, the two firms aim to develop more advanced autonomous systems tailored to both defence & commercial use.
American objectives are unmet. They neither have muscle nor motivation to resume the war. As for Iran, the regime didn’t just survive, it’s now led by more radical individuals.
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