Russia is opening a new front in its battle for a bigger share of the global oil market: India. Later this year, Russian state-controlled oil giant OAO Rosneft plans to start sending its first regular deliveries of crude to India’s second largest oil refinery. That follows Rosneft’s decision to buy a big stake in India’s Essar Oil, which owns the refinery and a network of around 2,000 gas stations. The purchase is set to be completed this year. – WSJ’s India Real Time
India has agreed to pay $8.8 billion to France's Dassault for 36 fighter jets, reports said Friday, as sources from both countries hinted a long-delayed deal to purchase the aircraft was imminent. - AFP
India has agreed to pay $8.8 billion to France's Dassault for 36 fighter jets, reports said Friday, as sources from both countries hinted a long-delayed deal to purchase the aircraft was imminent. - AFP
Wholesale prices fall for 17th straight month in March
According to government data released on Monday, the wholesale price index (WPI) in India fell for the 17th straight month in March (Reuters). The index fell by an annual 0.85 percent last month, and analyst believe the reason behind the decline is the drop in the prices of oil and manufactured goods. WPI is the price of a representative basket of wholesale goods and was widely used to measure inflation, however India recently adopted the Consumer Price Index to measure inflation. Wholesale fuel prices in March were 8.3 percent lower than March last year, and the price of manufactured goods was 0.13 percent lower year on year. On the other hand, Food prices in India rose by 3.73 percent year-on-year in March.
According to government data released on Monday, the wholesale price index (WPI) in India fell for the 17th straight month in March (Reuters). The index fell by an annual 0.85 percent last month, and analyst believe the reason behind the decline is the drop in the prices of oil and manufactured goods. WPI is the price of a representative basket of wholesale goods and was widely used to measure inflation, however India recently adopted the Consumer Price Index to measure inflation. Wholesale fuel prices in March were 8.3 percent lower than March last year, and the price of manufactured goods was 0.13 percent lower year on year. On the other hand, Food prices in India rose by 3.73 percent year-on-year in March.
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