Starlink 3.0 is coming with 10 times faster Internet, just in time for its India launch
This major upgrade will allow each new Starlink launch to inject as much as 60 Tbps of capacity into the network, thanks to advancements in hardware, onboard computers, beamforming, and lower altitude operation for reduced latency. That means faster, more stable internet for everyone, whether you're in the middle of a city or deep in a remote village.As for pricing, nothing has been confirmed for India yet, but based on global pricing, the standard Starlink kit could cost around Rs 33,000, with monthly plans between Rs 3,000 and Rs 4,200. Starlink is also reportedly working with Indian telecom giants like Airtel and Jio to improve reach and accessibility.- Ends
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Fibre2Fashion
28 minutes ago
- Fibre2Fashion
Trump's penalty talks create unease in Indian textile industry
In what many see as a major escalation of trade tensions, US President Donald Trump on July 30 announced a sweeping 25 per cent tariff on all goods imported from India even as India's competitors, including Pakistan, Vietnam, Bangladesh and Turkiye, were levied lower tariffs of 15-20 per cent. The move has sparked concerns across sectors in India, especially after Trump also mentioned of an additional, unspecified penalty related to India's ongoing trade relations with Russia, specifically its purchases of crude oil. US President Donald Trump announced a 25 per cent tariff on all Indian imports. The move is compounded by Trump's warning of an unspecified penalty tied to India's ongoing trade relations with Russia, particularly its purchase of crude oil. The lack of clarity around the unspecified penalty has created unease in Indian business circles, especially among apparel exporters. While the announcement was made without detailing the nature of the additional penalty, industry leaders and policymakers are concerned over its ramifications and long-term implications. Reacting to the latest development, India's Ministry of Commerce and Industry issued an official response, as reported by various media outlets. The statement emphasised that the Indian Government is closely examining the implications of the US President's announcement. 'The Government is studying its implications. India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months. We remain committed to that objective,' the ministry reportedly underlined. The statement also reassured stakeholders that national interests would be protected. 'The Government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs. The Government will take all steps necessary to secure our national interest, as has been the case with other trade agreements, including the latest Comprehensive Economic and Trade Agreement with the UK,' the ministry reportedly added. Adding another dimension, US Secretary of State Marco Rubio, just a day after Trump's tariff announcement, underlined Washington's dissatisfaction with India's continuing imports from Russia, as reported in certain sections of the media. 'India's purchase of oil from Russia is most certainly a point of irritation,' Rubio reportedly said speaking to a radio channel. Experts are thus viewing Trump's tariff imposition not just through the lens of protectionism, but as part of a broader geopolitical agenda. Some analysts believe the punitive measures reflect the US' discomfort with India's increasing strategic autonomy and its deepening economic engagement with Russia. Of particular concern to Indian exporters is the ambiguity surrounding the 'unspecified penalty' mentioned by Trump. The lack of clarity on this additional measure has created unease in the business circles. Sudhir Sekhri, chairman of the Apparel Export Promotion Council (AEPC) , reflected this sentiment, stating, 'The penalty is a grey area, and we hope the Government of India (GOI) will negotiate this with the US…' Echoing similar concerns, Rajeev Gupta, joint managing director of RSWM Ltd, earlier told Fibre2Fashion , 'Indian entrepreneurs and manufacturers are resilient, and we are confident that business momentum will be consistently rising with planned strategies. What remains crucial is clarity on the tariff position against China,' even as he added, 'A more pressing concern is the undefined penalty clause linked to India's ties with Russia, which adds a layer of uncertainty.' The timing of this development is critical, as both countries have been actively engaged in negotiations for a mutually beneficial trade agreement. India's recent efforts to diversify trade relationships, including the signing of the Comprehensive Economic and Trade Agreement (CETA) with the UK, many feel, signals a broader strategy to reduce dependence on any one market even as they added the US nonetheless remains one of India's largest trading partners, and any disruption in this relationship could have far-reaching implications for key export sectors such as textiles. 'The Free Trade Agreement with the UK opens up varied opportunities and is a welcoming move,' claimed an industry player interacting with Fibre2Fashion, who expressed apprehensions over the penalty ramifications if not sorted out soon. However, as things stand now, the Indian exporters seem to be adopting a cautious approach, a wait and watch policy to see how things unfold in the days to come as the steep duty imposed by US could hurt nearly half of India's exports, as per some estimates, adding to which is now the threat of additional penalty. Fibre2Fashion News Desk (DR)
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Business Standard
28 minutes ago
- Business Standard
Brookfield India REIT Q1 net operating income rises 13% to ₹499 crore
Brookfield India Real Estate Trust has posted 13 per cent increase in its net operating income to Rs 498.6 crore for the first quarter of this fiscal year and announced plans to raise up to Rs 1,000 crore through issue of preferential units to investors. Its Net Operating Income (NOI), which is revenue from operation minus direct operating expenses, stood at Rs 439.9 crore in the year-ago period, according to a regulatory filing on Friday. The company, an institutionally managed real estate investment trust (REIT) backed by rent-yielding office assets, announced distribution of Rs 319 crore to unitholders (Rs 5.25 per unit) for June quarter of 2025-26 fiscal. Brookfield India REIT also plans to raise up to Rs 1,000 crore through issue of preferential units to investors. It will issue up to 3.23 crore units at Rs 310 per unit. "The fiscal year began on a strong note with healthy leasing momentum, robust occupancy levels, and continued growth in distributions," said Alok Aggarwal, Chief Executive Officer and Managing Director, Brookfield India REIT. He noted that the company's operating performance remains resilient on steady demand for its high-quality assets across key markets. The company leased 6.51 lakh square feet area in the June quarter. The occupancy level has improved to 89 per cent. "Our proposed fund raise of Rs 10 billion through preferential issue will further strengthen our ability to pursue large growth opportunities," Aggarwal said. The board has approved a preferential issue of Rs 1,000 crore to a mix of investors including corporate treasuries, family offices and high net-worth individuals. "This fund raise, combined with the Rs 3,500 crore raised in December 2024, will strengthen our capacity to pursue large growth opportunities," the company said. Brookfield India REIT also said that it is in talks with the sponsor group for potential acquisition of grade A properties across Bengaluru and Chennai. The REIT has 10 Grade A commercial assets in Delhi, Mumbai, Gurugram, Noida, Kolkata. Its portfolio consists of 29 million square feet of total leasable area, comprising 24.5 million square feet of operating area, 0.6 million square feet of under construction area and 3.9 million square feet of future development potential. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Post
28 minutes ago
- First Post
Has India really stopped buying oil from Russia as Trump claims?
US President Donald Trump says India 'is no longer going to be buying oil from Russia', calling it a 'good step' if true. But Indian officials deny knowledge of any halt, while reports suggest some state refiners briefly paused purchases read more Employees manually fill containers with diesel during a power cut at a fuel station in New Delhi, July 31, 2012. Representational Image/Reuters Speaking to reporters in Washington on Saturday, United States President Donald Trump said: 'I understand that India is no longer going to be buying oil from Russia. That's what I heard, I don't know if that's right or not. That is a good step. We will see what happens.' The comment is Trump's latest in a slew of remarks against India's purchasing of Russian crude oil. Trump has launched a campaign of economic pressure against countries continuing to engage with Russia, threatening tariffs and penalties as leverage to force a resolution to the war in Ukraine. STORY CONTINUES BELOW THIS AD Days earlier, his administration announced a sweeping set of trade measures that would affect around 70 nations, including India. As part of this, a 25 per cent tariff on Indian goods entering the United States took effect, alongside a separate penalty related to purchases of Russian oil and military hardware. Trump also warned that countries buying Russian oil could face tariffs as high as 100 per cent if Moscow does not agree to a peace deal by mid-August. His stance has raised concerns about the potential impact on global markets, given India's role as the largest importer of Russian seaborne crude since 2022. In a strongly worded post on Truth Social, Trump lashed out at India's trade practices and its reliance on Russian defence and energy sectors. 'Also, they have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of energy, along with China, at a time when everyone wants Russia to stop the killing in Ukraine — All things not good!' In another comment, he took an even sharper tone: 'I don't care what India does with Russia. They can take their dead economies down together, for all I care. We have done very little business with India, their Tariffs are too high, among the highest in the World. Likewise, Russia and the USA do almost no business together. Let's keep it that way…' STORY CONTINUES BELOW THIS AD The question: Has India really stopped buying Russian oil? In response to speculation, Indian officials and sources have sought to clarify the country's position. The Ministry of External Affairs (MEA) has not confirmed any change in policy and has made it clear that energy sourcing decisions remain based on price and national interest. MEA spokesperson Randhir Jaiswal, when asked about reports suggesting Indian oil firms had stopped taking Russian crude, said during his weekly briefing, 'We take decisions based on the price at which oil is available in the international market and depending on the global situation at that time. As for the specifics of your particular question, I am not aware of it. I don't have details of these specifics.' Privately, an MEA source echoed this line, telling ANI that energy decisions are grounded in economic realities: 'India's energy purchases are driven by national interests and market forces. We do not have any reports of Indian oil firms halting Russian imports.' Reports of a temporary pause by state refiners While there has been no formal announcement from New Delhi, multiple reports suggest some state-owned refiners may have temporarily paused buying Russian oil in the past week. According to Reuters, India's key state refiners — including Indian Oil Corporation, Bharat Petroleum Corporation, Hindustan Petroleum Corporation, and Mangalore Refinery and Petrochemical Ltd — did not seek Russian crude cargoes recently. This development comes amid narrowing discounts on Russian oil and increased warnings from Washington about the risks of continuing purchases. STORY CONTINUES BELOW THIS AD A man stands at an Indian Oil fuel station in Sonipat, March 5, 2025. Representational Image/Reuters These refiners, which control over 60 per cent of India's combined refining capacity of 5.2 million barrels per day, frequently purchase Russian oil on a 'delivered' basis, meaning suppliers handle shipping and insurance. When they did not place orders, they turned instead to the spot market, buying mostly West Asian and West African crude grades such as Abu Dhabi's Murban. Notably, the country's private refiners — Reliance Industries and Nayara Energy — are the largest individual buyers of Russian crude in India, but the state-owned companies dominate the overall refining landscape. Whether these pauses represent a longer-term shift or merely a short-term adjustment remains unclear. India's reliance on Russian crude since 2022 India became the world's biggest importer of Russian seaborne oil after Europe stopped most purchases in response to Russia's invasion of Ukraine in 2022. This marked a significant pivot in global energy flows: before 2022, Europe had been Russia's largest oil buyer. India now sources nearly 2 million barrels per day from Russia — roughly 35 per cent of its total oil imports — amounting to over $50 billion worth of purchases in the 2024-25 fiscal year, according to official data. STORY CONTINUES BELOW THIS AD The range of Russian crude reaching Indian shores is wide. Imports include Urals from Russia's western ports, ESPO and Sokol from the Pacific, and some grades from the Arctic. Urals, the largest Russian export grade, is particularly reliant on India; up to 70 per cent of its exports are absorbed by Indian refiners. Russia's state oil giant Rosneft has also become deeply intertwined with India's refining sector, holding a significant stake in one of the country's largest refineries, which further cements the commercial relationship. Why purchasing Russian oil is not illegal Officials and industry sources defending India's Russian oil imports underline that the purchases are not only lawful but beneficial for global energy stability. Sources speaking to ANI stressed that Russian oil has never been sanctioned outright by the US or the European Union. Instead, a price-cap mechanism was introduced by the G7 and EU to restrict Moscow's revenues while ensuring crude continued to flow into world markets. India has adhered to this framework, ensuring all purchases stayed below the cap — currently $60 per barrel — while securing affordable energy supplies. The same sources argued that India's strategy helped prevent a worse crisis: 'Had India not absorbed discounted Russian crude combined with OPEC+ production cuts of 5.86 mb/d, global oil prices could have surged well beyond the March 2022 peak of US $137/bbl, intensifying inflationary pressures worldwide.' STORY CONTINUES BELOW THIS AD This perspective paints India not as an outlier, but as a stabilising force in global oil markets, especially at a time when other buyers, including the EU, continue to import Russian-origin energy in other forms. For instance, during this period, the EU remained the largest buyer of Russian liquefied natural gas (LNG), accounting for 51 per cent of exports, with China and Japan following. How Moscow could retaliate Analysts warn that any sharp reduction in Indian demand for Russian oil could provoke a major response from Moscow. Russia's exports to India are so vital that they now make up a substantial share of the Kremlin's revenues. Experts at JP Morgan have cautioned that if India's imports were disrupted, Moscow could retaliate by closing the Caspian Pipeline Consortium (CPC) pipeline from Kazakhstan. This pipeline is critical for US energy majors like Chevron and Exxon, who have significant investments in Kazakh production. Any closure of CPC would create another severe supply shock, reverberating across the global oil market. How India would manage without Russian oil If India were to scale back or halt Russian purchases, the adjustment would be complicated and costly. Refiners would have to increase imports of US and West Asian crude or reduce refining activity. Either path could send ripples through the global economy. A cut in refining runs would immediately tighten diesel supply. India is a significant exporter of refined fuels, especially diesel, to Europe. Reduced output in India would likely push European diesel prices higher. STORY CONTINUES BELOW THIS AD Switching suppliers on a large scale would also require logistical and contractual adjustments. India's refiners have integrated Russian crude into their operations over the past two years; unwinding that flow would not happen overnight. Meanwhile, private refiners — which account for a large chunk of Russian crude purchases — have not publicly signalled any change. Donald Trump's claim that India has stopped buying Russian oil remains unverified. With inputs from agencies
