Trump's 25% tariff, Russia oil penalty on India are 'negotiating tactic': Former NITI Aayog CEO
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CNBC
43 minutes ago
- CNBC
India to maintain Russian oil imports despite Trump threats, government sources say
India will keep purchasing oil from Russia despite U.S. President Donald Trump's threats of penalties, two Indian government sources told Reuters on Saturday, not wishing to be identified due to the sensitivity of the matter. On top of a new 25% tariff on India's exports to the U.S., Trump indicated in a Truth Social post last month that India would face additional penalties for purchases of Russian arms and oil. On Friday, Trump told reporters he had heard that India would no longer be buying oil from Russia. But the sources said there would be no immediate changes. "These are long-term oil contracts," one of the sources said. "It is not so simple to just stop buying overnight." Justifying India's oil purchases from Russia, a second source said India's imports of Russian grades had helped avoid a global surge in oil prices, which have remained subdued despite Western curbs on the Russian oil sector. Unlike Iranian and Venezuelan oil, Russian crude is not subject to direct sanctions, and India is buying it below the current price cap fixed by the European Union, the source said. The New York Times also quoted two unnamed senior Indian officials on Saturday as saying there had been no change in Indian government policy. Indian government authorities did not respond to Reuters' request for official comment on its oil purchasing intentions. However, during a regular press briefing on Friday, foreign ministry spokesperson Randhir Jaiswal said India has a "steady and time-tested partnership" with Russia. "On our energy sourcing requirements ... we look at what is there available in the markets, what is there on offer, and also what is the prevailing global situation or circumstances," he said. The White House did not immediately respond to requests for comment. Trump, who has made ending Russia's war in Ukraine a priority of his administration since returning to office this year, has expressed growing impatience with Russian President Vladimir Putin in recent weeks. He has threatened 100% tariffs on U.S. imports from countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine. Russia is the leading supplier to India, the world's third-largest oil importer and consumer, accounting for about 35% of its overall supplies. India imported about 1.75 million barrels per day of Russian oil from January to June this year, up 1% from a year ago, according to data provided to Reuters by sources. But while the Indian government may not be deterred by Trump's threats, sources told Reuters this week that Indian state refiners stopped buying Russian oil after July discounts narrowed to their lowest since 2022 - when sanctions were first imposed on Moscow - due to lower Russian exports and steady demand. Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd have not sought Russian crude in the past week or so, four sources told Reuters. Nayara Energy - a refinery majority-owned by Russian entities, including oil major Rosneft, and major buyer of Russian oil - was recently sanctioned by the EU. Nayara's chief executive resigned following the sanctions, and three vessels laden with oil products from Nayara Energy have yet to discharge their cargoes, hindered by the new EU sanctions, Reuters reported last week.
Time Business News
an hour ago
- Time Business News
India's Rise as the World Leader in K-12 Learning Content
The demand for quality education is being felt across the world, and k12 content providers in India are coming in to meet this demand. India has established a strong ecosystem of digital learning, supported by a huge pool of skilled talent in the form of trained teachers, instruction designers, and technical professionals. With digital transformation picking up speed on a world scale, India has emerged as a reliable destination for developing scalable and interactive K-12 content that will be able to cater to diverse learning needs. Affordable Talent and Technology Skills: The power of India lies in its blend of inexpensive, skilled workforce and advanced technical skills. The existence of well-trained academic staff and IT experts has produced high-quality, yet affordable, educational content. Indian providers have now gained fame for including multimedia, animation, gamification, and virtual classrooms in curriculum-based content. This has turned India into a hub that provides both innovation and cost in learning. Good Fit with Global Curriculums: Indian content creators have traditionally shown the capability of tailoring content as per different global standards like CBSE, ICSE, IGCSE, IB, and even state boards. Such adaptability gives them the massive boon in serving international markets. With access to subject matter experts for all subjects and good research infrastructures, Indian teams can easily deliver curriculum-mapped content that resonates with students of different educational backgrounds worldwide. Innovation in Pedagogical Design: One of the strongest drivers of India's success lies in its focus on excellent pedagogy. The providers don't just digitize books—instead, they design learning modules that are interactive, improve retention and student engagement, and break down concepts into animations, simulations, and storytelling approaches appropriate for age and culturally relevant. All these innovations are now gaining global acclaim for making education accessible and fun for children of all ages. Global Education Outsourcing Destination: India's position as an outsourcing giant is no new fact. The variation here is the growing number of international edtech vendors who are outsourcing full-stack development of K-12 content to Indian vendors. This means the complete gamut of instructional design and assessment development to localization and translation of content. India's ability to handle high work volumes with quality consistency and fast turnaround makes it a popular partner in education. Growth in Demand: Various nations are increasingly turning to India for educational content. Localization of the content is also strength of Indian providers, thereby making them happy to serve the language, culture, and curriculum needs—hence they are the preferred choice in these new education markets. Major Focus on Quality: With increasing competition and global recognition, Indian content providers are now focusing on global quality standards. Rigorous internal review processes, ISO certifications, and global benchmarking practices are being adopted by many companies. This commitment to quality assurance still enhances trust and long-term partnership with global customers in the K-12 content business. Conclusion India's swift rise as an international center of educational development is no longer a trend but a change supported by talent, innovation, and demand. The combination of affordability, technological competence, and curriculum adaptability positions India as the most desirable destination for K-12 Content Development Services globally. As educational requirements keep changing, India's position in defining the future of global K-12 learning is destined to become ever stronger. TIME BUSINESS NEWS
Yahoo
2 hours ago
- Yahoo
Trump's executive order seeks to remove homeless from streets. What is seen in Erie County
On July 24, President Donald Trump issued an executive order to 'end crime and disorder on America's streets, which was directed at the homelessness endemic taking place across the nation." The executive action makes it easier for cities and states to remove homeless people from the streets by ending consent decrees that limit local and state governments' ability to move homeless people into treatment centers and other facilities. The issues that pertain to homelessness that the executive order focuses on are seen in Erie County. The 2024 PA 605 In Time Census, as cited by the Erie County Home Team Homeless and Housing Coalition, provides the following statistics of note for the county: 454 residents in Erie County we're identified as homeless. 76 residents were unsheltered and living in a place that was considered inhumane. 378 were living in an emergency shelter or a transitional housing program. 37 families could be found in shelters consisting of 116 people and 37 children under the age of 18. 47% of adults dealing with homelessness battled mental illness while 36% battled substance abuse. An additional 577 people were in supportive housing or considered 'near homeless." "Talking to all of my colleagues across the country like in Philadelphia, their challenges are far different than ours in Erie County," Erie County Executive Brenton Davis said. "Honestly, I am thankful for the first world problems that we have. For all the different things that we have, we know what the finite number is and if you know what the number is then you can work towards solving it." From 2024: Erie County opens single-site location for Our Neighbors' Place overflow homeless shelter What to know about the executive order The executive order is divided into several objectives, according to which provides the following order details: The purpose and policy (of the order) which is due to the endemic vagrancy, disorderly behavior, sudden confrontations and violent attacks making cities unsafe. Restoring civil commitment and what to take appropriate action on. Fighting vagrancy on America's streets and how immediate steps will be taken to assess grants. The redirection of federal resources towards effective methods of addressing homelessness and where to take appropriate action. The increase in accountability and safety in America's homelessness programs. Finally, the general provisions of the order. The full order can be found on "To me, anything that provides a resource to local government to be flexible to solve the issues in our community I fully support," Davis said. Organizations in Erie to assist with homelessness In Erie, there are multiple organizations that are on the front lines in battling homelessness, including but not limited to the Erie City Mission, Mercy Center for Women, Mental Health Association, Emmaus Soup Kitchen, Erie County Care Management and more. provides a list of multiple resources from shelters to free clothing to medical services and more. More: Could visit to Erie's Mercy Center for Women help the state craft a maternal health plan? "I can only speak to this locally, Erie County is a social service-rich environment," Davis said. "Everything is finite, resources and funding are finite. I think it's a matter of finding an array of tools to make it more accessible and flexible. That'll be the key." Contact Nicholas Sorensen at nsorensen@ This article originally appeared on Erie Times-News: What to know about homelessness in Erie County Solve the daily Crossword
