India’s climate action must fuel growth: CEA (Financial Express)
India’s Chief Economic Advisor V Anantha Nageswaran said that India’s climate goals must move forward together with its development needs, explaining that the country cannot afford to slow its economic momentum as it approaches the four trillion dollar mark and continues to face a shifting global landscape. He stressed that India is fully aware of climate risks and remains committed to its 2070 net zero target, but the transition must reflect the realities of a country that has not yet reached peak energy demand and still needs affordable and reliable energy while pushing innovation, startups, and lower energy intensity to drive long term solutions. Nageswaran also highlighted that adaptation will be just as important as mitigation for India, noting that strengthening coastal protection, water systems, heat resilience, and climate smart agriculture will be vital to reducing vulnerabilities and ensuring that climate strategies remain both economically durable and grounded in evidence.
Indian refiners’ calculations steady without Russian oil: Low global prices and high Moscow discounts offset volume loss (The Economic Times)
US sanctions on Rosneft and Lukoil have reduced the volume of Russian crude available to Indian refiners, but the financial impact has been softer than expected because the discounts on Russian barrels have widened enough to nearly balance out the fall in supply while global oil prices have slipped back to pre sanction levels. Indian refiners have shifted toward non sanctioned traders and alternative suppliers in the Middle East and the Americas, planning their procurement around longer Russian shipping times and focusing on keeping costs stable even as they anticipate lower Russian volumes in December and January. The situation is also influenced by a well supplied global oil market, diplomatic efforts to ease the Russia Ukraine conflict, and India’s broader trade discussions with the United States, with energy emerging as a central point of negotiation.
India to begin FTA negotiations with Russia-led EAEU from today (The Tribune)
India has begun formal negotiations for a Free Trade Agreement with the Russia-led Eurasian Economic Union as part of a broader strategy to open new markets for Indian businesses and reduce dependence on destinations where tariffs have risen sharply, especially in the United States. Alongside this move, the government is also exploring trade pacts with the Southern African Customs Union, advancing talks with Mercosur, and preparing for early harvest negotiations with Israel while expressing optimism about India’s overall export performance despite global uncertainty. Goyal highlighted strong recent growth in merchandise and services exports, praised the resilience of Indian exporters, and pointed to the seafood sector’s successful shift toward the European Union after the approval of 102 Indian marine establishments as a sign of how quickly India can adapt to changing global trade conditions.
