Trump claims Modi assured him India will stop buying Russian oil
calls it 'big step' toward ending Ukraine war
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Washington (PTI): US President Donald Trump has claimed that his "friend" Prime Minister Narendra Modi has assured him that India would stop purchasing oil from Russia, a move he described as a “big step” toward increasing pressure on Moscow over its invasion of Ukraine.
Speaking to reporters at his Oval Office on Wednesday, he said the US was “not happy” that India was buying Russian crude, arguing such purchases helped finance President Vladimir Putin’s war.
“He (Modi) is a friend of mine, we have a great relationship... we were not happy with him buying oil from Russia because that let Russia continue on with this ridiculous war where they've lost a million and a half people,” Trump said in response to a question.
“I was not happy that India was buying oil, and (Modi) assured me today that they will not be buying oil from Russia. That’s a big step. Now we’ve got to get China to do the same thing,” he said.
India is the second-largest buyer of Russian fossil fuels behind China, according to the Centre for Research on Energy and Clean Air (CREA).
Describing the Indian prime minister as “a great man,” Trump said, “He loves Trump... I don’t want you to take the word love any differently... I don’t want to destroy his political career.”
Praising Modi's leadership, Trump said, “I have watched India for years. It’s an incredible country, and every single year you would have a new leader. Some would be in there for a few months, and this was year after year after year, and my friend has been there now for a long time, and he’s assured me there will be no oil purchases from Russia.”
He added that the phase-out would take time but that it was already underway.
“He (Modi) has assured me there will be no oil purchased from Russia. I don’t know, maybe that’s a breaking story. Can I say that?... He’s not buying his oil from Russia. It (has) started. He can't do it immediately; it’s a little bit of a process, but the process is going to be over with soon,” Trump claimed.
He said India could resume energy trade with Moscow after the Russia-Ukraine war is over.
“If India doesn’t buy oil, it makes it much easier, and they’re not going to buy, they assured me they will, within a short period of time, they will not be buying oil from Russia... And they’ll go back to Russia after the war is over,” he said.
Traditionally reliant on Middle Eastern oil, India, the world’s third-largest oil importer, significantly increased its imports from Russia following the February 2022 Ukraine invasion.
Western sanctions and reduced European demand made Russian oil available at steep discounts. As a result, India's Russian crude imports surged from under 1 per cent to nearly 40 per cent of its total crude oil imports in a short span.
New Delhi has been maintaining that its oil imports are driven by national energy security and affordability concerns and that its position on the Russia-Ukraine conflict remains “independent and balanced”.
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K'taka govt, Taiwan's Allegiance Group sign MoU to establish industrial technology innovation park
Bengaluru (PTI): Karnataka government on Friday signed an MoU with Allegiance International Co Ltd of Taiwan to establish an Indo-Taiwan Industrial Technology Innovation Park (ITIP) in the state, with a proposed investment of around Rs 1,000 crore.
The MoU was signed by Rahul Sharanappa Sankanur, Director, Department of Electronics, IT, BT and Lawrence Chen, VP, Allegiance Group in the presence of Chief Minister Siddaramaiah, Minister for Electronics, IT & BT Priyank Kharge, and senior officials.
The project will be undertaken by the Allegiance Group with a proposed investment of around Rs 1,000 crore, leading to the creation of about 800 direct jobs via the companies setting up operations in ITIP over a period of 5 years, the IT&BT Minister's office said in a statement.
The ITIP will serve as a dedicated hub for Taiwanese companies in electronics and semiconductors, fostering advanced manufacturing, R&D, and innovation. This collaboration aims to strengthen Karnataka's position as India's leading destination for Electronics System Design and Manufacturing (ESDM) and accelerate the growth of the semiconductor ecosystem in the state.
Key highlights of the MoU include establishment of a world-class industrial park to house Taiwanese firms in electronics and semiconductor sectors; development of a robust supply chain ecosystem for components, PCBs, and chip design; creation of high-value jobs and skill development programmes in collaboration with academic institutions; and promotion of technology transfer and global best practices to enhance India's competitiveness in electronics manufacturing.
CM Siddaramaiah said this partnership marks a significant step towards realising Karnataka's vision of becoming a global hub for electronics and semiconductor innovation.
"The ITIP will attract cutting-edge technology and investments, creating opportunities for our youth and strengthening India's position in the global value chain," he said.
Minister Priyank Kharge said Karnataka has led India's technology revolution and continues to dominate in innovation, deep-tech talent, and semiconductor design.
"This partnership will accelerate our efforts to build a robust electronics and semiconductor ecosystem. We are committed to creating a level playing field and ensuring that Karnataka remains the preferred destination for global investors in advanced technologies," he said.
Lawrence Chen said, "We are excited to collaborate with Karnataka, a state known for its technology leadership. The ITIP will be a catalyst for Taiwanese companies to expand in India and contribute to the growth of the semiconductor and electronics ecosystem."
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