Good to see Omar Abdullah enjoying visit to Statue of Unity: PM Modi
Abdullah was in Ahmedabad to attend a tourism event.
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Hindustan Times
15 minutes ago
- Hindustan Times
India ramps up US energy imports as Trump pushes balanced trade
Washington: India has dramatically increased its energy purchases from the US since Donald Trump returned to office in January, with crude oil imports surging 51% in the first half of 2025 compared to the same period last year, according to data cited by people aware of the trade specifics between the two nations. The surge follows a February agreement between Trump and Prime Minister Narendra Modi in Washington, where both leaders committed to expanding energy cooperation. (PTI) The energy buying spree reflects New Delhi's commitment to rebalance trade ties with Washington, a key demand of the Trump administration. Liquefied natural gas imports have nearly doubled from $1.41 billion in FY2023-24 to $2.46 billion in FY2024-25. The surge follows a February agreement between Trump and Prime Minister Narendra Modi in Washington, where both leaders committed to expanding energy cooperation. India pledged to boost American energy imports to $25 billion from $15 billion in 2024, while bilateral trade is targeted to more than double from $200 billion to $500 billion by 2030. 'The leaders reaffirmed their commitment to increase energy trade, as part of efforts to ensure energy security, and to establish the United States as a leading supplier of crude oil and petroleum products and liquefied natural gas to India,' the joint statement said. The momentum has accelerated significantly. Indian crude purchases from America jumped 114% to $3.7 billion in the first quarter of FY2025-26 from $1.73 billion in the same period the previous year. In July alone, imports rose 23% month-on-month, pushing America's share of India's total crude imports from 3% to 8%. 'This trend is increasing further from July this year. So, in July 2025 India imported 23% more crude oil from the US compared to June 2025,' said one of the people who analysed the data. 'Also, in India's overall crude imports, while the US share was earlier only 3%, in July that share increased to 8%.' American LNG has emerged as particularly attractive to Indian companies. 'Buying LNG from America is a very attractive proposition for many Indian companies,' said Prashant Vashisht, senior vice president at ratings agency ICRA. 'Firstly, US LNG, which is priced based on the Henry Hub benchmark, is very competitive price-wise compared to other sources. Second, a large number of LNG projects are coming online in the United States, which will mean that more Indian companies will look closely at the American market for tying up long-term contracts.' The timing aligns with America's plans to rapidly expand oil and gas exports. Trump reversed the Biden administration's pause on processing LNG export licences soon after taking office. The US Energy Information Administration expects North America's LNG export capacity to double by 2028, with America providing most of the increase. India's growing appetite for American energy comes as the country is poised to become the world's largest driver of oil demand growth. The International Energy Agency estimates India will surpass China as the major driver of global oil demand growth by 2030, with LNG demand expected to jump 78% to reach 64 billion cubic metres annually. 'Additional long-term LNG contracts worth tens of billions of dollars are being discussed. Indian oil and gas majors are in discussions with their US counterparts for long-term purchase of US oil and gas,' another person familiar with the matter said. 'India considers the US as among the most reliable partners for India's energy security.' However, energy ties remain a point of contention, particularly regarding India's continued purchases of Russian crude oil. The Trump administration has pressed New Delhi to reconsider its energy relationship with Moscow to pressure President Vladimir Putin to negotiate an end to the Russia-Ukraine conflict.
Mint
an hour ago
- Mint
Meet Sisters Preethy Mary, Vandana Francis: Kerala nuns who walked free from jail in conversion case
Two nuns from Kerala, arrested on charges of human trafficking and forced religious conversion, were on Saturday released from Durg Central Jail in Chhattisgarh after a special court granted them bail, reported PTI. The Catholic nuns were identified as Sister Preethy Mary and Sister Vandana Francis. They were received outside the jail by several leaders from Kerala, including LDF MPs and Kerala BJP chief Rajeev Chandrasekhar. Earlier in the day, the special court of Principal District and Sessions Judge (NIA court) Sirajuddin Qureshi at Bilaspur granted bail to the two nuns along with co-accused Sukaman Mandavi on the condition that they surrender their passports and not leave the country. They were also asked to submit a bond of ₹ 50,000 each with two sureties and cooperate with the probe. Sister Preethi Mary is a nun from Kerala's Ernakulam district. She hailed from a family of seven siblings and is the oldest. She arrived in Chhattisgarh as part of her philanthropic leanings. On the other side, Sister Vandana belongs from Udayagiri village in Kerala's Kannur district. She used to work in a pharmacy in Chhattisgarh. Preethi and Vandana both belong to the Assisi Sisters of Mary Immaculate (ASMI) congregation, headquartered at Cherthala in Kerala's Alappuzha district, reported the Indian Express. Last week, the two Catholic nuns were taken into custody at Durg Railway Station in Chhattisgarh. They reportedly arrived to pick up women coming to work at a local convent, but were arrested along with a third person based on a complaint by a Bajrang Dal functionary. In the complaint, the Bajrang Dal functionary alleged that they were forcibly converting and trafficking three girls from Narayanpur. However, the kin of two of the three tribal women involved firmly denied police allegations a day after their arrest. They said that the arrests were politically driven and devoid of merit. Their arrest stirred a political storm, and both Congress leader Rahul Gandhi and Kerala Chief Minister Pinarayi Vijayan raised serious concerns over the incident. In fact, Vijayan urged a direct intervention of PM Modi, citing the families of the nuns were unable to contact them since the detention. Also, Tamil Nadu Chief Minister MK Stalin also condemned the arrest.
Indian Express
an hour ago
- Indian Express
PM Modi underlines ‘economic priorities', gives call for Swadeshi push after Trump's ‘dead economy' jibe
Days after US President Donald Trump labelled India a 'dead economy,' Prime Minister Narendra Modi on Saturday said that the country must remain alert to its 'own economic priorities' amid the instability and uncertainty facing the world economy. He urged Indians to stand firm on economic nationalism and self-reliance. Speaking at a public rally in Varanasi's Banauli village, Modi underscored that India is on track to become the world's third-largest economy amid growing international uncertainty. 'In such times, countries are focusing solely on their own interests. India, too, must remain alert to its own economic priorities,' Modi said, invoking a renewed push for Swadeshi. 'At a time when the world is going through uncertainty, let us take a pledge to sell only Swadeshi goods from our shops and markets. Promoting made in India goods will be the truest service to the country.' The remarks come days after Trump announced a 25 per cent import tariff on Indian goods, effective August 7, and warned of further penalties for India's ongoing purchase of Russian crude oil and military equipment. In a post on Truth Social, Trump said: 'They (Russia and India) can take their dead economies down together, for all I care.' After Trump's statement, India's response was measured. Commerce Minister Piyush Goyal told Parliament on Thursday that India remains the world's fastest-growing major economy and is widely expected to emerge as the third-largest globally in the near future. In his speech Saturday, Modi framed the global economic instability as a moment of opportunity for India. 'The feeling of Swadeshi in every action will define our future,' he said. 'This will also be a true tribute to Mahatma Gandhi. Only through collective effort can we fulfil the dream of a developed India.' He urged citizens to become conscious consumers and adopt the 'Vocal for Local' mantra. 'Whatever we buy, we should ask ourselves – has an Indian toiled to make this? If it has been made by the sweat of our people, with their skills, that product is Swadeshi for us.' The prime minister also called on all political parties to unite behind the goal of national economic advancement. 'If we want India to become the third-largest economy, every political party and every leader, keeping aside their hesitations, must work in the nation's interest and awaken the spirit of Swadeshi among the people,' he said.
