Diversifying energy procurement: India in response to Trump's oil trade claim
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New Delhi (PTI): India on Thursday said it is "broad-basing and diversifying" its sourcing of energy to meet market conditions, hours after US President Donald Trump claimed that Prime Minister Narendra Modi assured him that New Delhi will stop procuring Russian crude oil.
External Affairs Ministry spokesperson Randhir Jaiswal, responding to Trump's remarks, said it has been New Delhi's consistent priority to safeguard the interests of the Indian consumer in a volatile energy scenario.
He said India's import policies are guided entirely by national interest, adding India has been looking at expanding energy ties with the US as well.
"Ensuring stable energy prices and secured supplies have been the twin goals of our energy policy," he said.
"This includes broad-basing our energy sourcing and diversifying as appropriate to meet market conditions," Jaiswal added.
India's continuing purchase of petroleum products from Russia notwithstanding Western sanctions have become a major issue that resulted in severe downturn in ties between New Delhi and Washington.
In Washington, Trump told reporters that "he (Modi) has assured me there will be no oil purchases from Russia."
The US president said India may not be able to cut the procurement immediately but the process has started.
"It (process) has started. He can't do it immediately. It's a little bit of a process, but the process is going to be over soon," the US president said.
In his remarks, Jaiswal noted that India is holding talks with the Trump administration on boosting bilateral energy ties.
"Where the US is concerned, we have for many years sought to expand our energy procurement. This has steadily progressed in the last decade," he said.
"The current administration has shown interest in deepening energy cooperation with India. Discussions are ongoing," he added.
Explaining India's policy on energy procurement, Jaiswal said it is driven by national interest.
"India is a significant importer of oil and gas. It has been our consistent priority to safeguard the interests of the Indian consumer in a volatile energy scenario," he said. "Our import policies are guided entirely by this objective," he said.
In his remarks, Trump suggested that the US wants India to stop procurement of Russian crude only to put financial pressure on Russian President Vladimir Putin so that ends the war in Ukraine.
"All we want from President Putin is to stop this, stop killing Ukrainians and stop killing Russians because he's killing a lot of Russians. It is a war he should have won in one week and now it is going into fourth year," he said.
Washington has been maintaining that India is helping Putin to finance the war through its purchase of Russian crude oil.
The relations between New Delhi and Washington have been reeling under severe stress after Trump doubled tariffs on Indian goods to a whopping 50 per cent, including a 25 per cent additional duties for India's purchase of Russian crude oil.
India described the US action as "unfair, unjustified and unreasonable"
Last week, US Ambassador-designate Sergio Gor met PM Modi in New Delhi.
Following the meeting, Gor said the US "values" its relationship with India,
Gor was in New Delhi amid continuing strains in the bilateral relations.
The Ambassador-designate also held talks with External Affairs Minister S Jaishankar, National Security Advisor Ajit Doval and Foreign Secretary Vikram Misri before meeting PM Modi.
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Minister Patil chairs industry meetings to chart growth for key sectors in Karnataka
Bengaluru (PTI): Karnataka Minister M B Patil on Tuesday chaired meetings with industry representatives from the aerospace and defence, machine tools, auto/EV, and green energy sectors to discuss sector growth and government support measures.
The meetings were attended by leading industrialists and their representatives, with some participating virtually.
Speaking on the occasion, the minister for Large and Medium Industries said Karnataka is at the forefront of the country’s aerospace and defence sectors.
He noted that Suzuki and Toyota plan to launch aerial taxi services in Japan by 2028, with Bengaluru-based Sasmos supplying electrical equipment for the project.
Industrialists suggested introducing similar “fly-taxi” services in Karnataka through an appropriate policy, which Patil said would be examined seriously.
The minister highlighted the need to establish testing centres and Common Facility Centres for the aerospace and defence industries and assured that these facilities would be provided.
Suggestions were also made to prepare a comprehensive roadmap for sector growth.
Karnataka has urged the Central Government to approve Defence Corridor projects in the Bengaluru North–Kolar–Chikkaballapur and Dharawada–Vijayapura–Belagavi regions.
Industrialists also suggested a corridor between Bengaluru and Mysuru, Patil said.
He said Karnataka aims to become a hub for defence electronics manufacturing, with plans to establish a 200-acre Defence Electronics Park and a 100-acre Avionics and Sensor Park.
These projects will be implemented once the Special Investment Region is operational, and land availability will not be an issue.
On the machine tools sector, Patil said the industry has recorded an annual turnover of Rs 36,500 crore and is witnessing steady growth.
Large-scale exhibitions have increased demand, and the state must strengthen its capabilities to develop control systems for heavy machinery. One testing unit is already operational in Bengaluru, with another planned for Tumakuru. Expansion of vocational training institutes in industrial areas is also underway.
In the Auto and EV sector, Vision Group members highlighted the need for a network of dry ports and more EV charging stations across the state.
Patil noted that the Tata Group is manufacturing EV buses in Dharawada for nationwide supply. Plans for mini excavator production and export facilitation were also discussed, along with the establishment of a testing facility for two-wheeler EVs.
For the Green Energy sector, the group emphasised the need for a suitable policy on battery-based energy storage and the establishment of data centres.
Patil assured that the government will seriously consider all suggestions and respond positively.
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