Trouble in paradise for India?

[amishmanish]

I think there are multitude of factors responsible. Failure of wheat crop in India due to excessive heat.  Rising oil in international markets. Rising interest rates globally. India's dependence on oil and yes higher taxes by Indian government.
However india is still faring well than many major economies

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[suzanne5223]

Hmm, India is buying oil at a discount rate but they are selling those oil by refining to European countries when oil price in their own country is skyrocketing. When people are suffering because of these price hikes then govt is making a hell lot of money.

They can not reduce oil prices in their country when they are already buying it at a discount rate then how OPEC countries increased oil supply will decrease the oil price?

There is so much drama involved in it - why have EU not thought once before putting the sanctions on Russia.
Did they believe that Russia will do as they demand and beg EU to remove the sanction. Russia is the power they have fuel. Now half of the world is in trouble and IND are clever enough to cash this game.

EU knows Russia won't beg to remove sanctions because it is not the first time the west put sanctions on Russia. Actually, the most benefited from this conflict is the USA. They force EU countries to put sanctions on Russia so that they can not buy fuel from them. Now the USA is selling oil and gas to the EU at a high price. The USA announcing billions of dollars in arms deals with Ukraine. On the other hand, many Ukrainian soldiers are talking about shortages of ammunition and their dire situation on the battlefield. Where are all these weapons going? This is all about the business that the USA and UK are playing with the EU.

The US may benefit from the sanction the EU placed on the Russians but it somehow affects all of them due because after Saudi Arabia, Russia in the largest exporter of oil in the global market. However, the world is in chaos today because of the selfish and political game of our leader.
The same game is what the Indian government is playing with their citizen by suffering them with the hike in the price of gas while they bought it cheap from the Russia and also make more money by selling it the EU.

[og kush420]

The US may benefit from the sanction the EU placed on the Russians but it somehow affects all of them due because after Saudi Arabia, Russia in the largest exporter of oil in the global market. However, the world is in chaos today because of the selfish and political game of our leader.
The same game is what the Indian government is playing with their citizen by suffering them with the hike in the price of gas while they bought it cheap from the Russia and also make more money by selling it the EU.

While everyone was having criticising and supporting Ukraine - now we all are in so much trouble.
UKraine did get the support but what about the other world who are suffering with inflation - who are going to help those? Now everyone is in need. What has EU and USA did to the world!

[suzanne5223]

The US may benefit from the sanction the EU placed on the Russians but it somehow affects all of them due because after Saudi Arabia, Russia in the largest exporter of oil in the global market. However, the world is in chaos today because of the selfish and political game of our leader.
The same game is what the Indian government is playing with their citizen by suffering them with the hike in the price of gas while they bought it cheap from the Russia and also make more money by selling it the EU.

While everyone was having criticising and supporting Ukraine - now we all are in so much trouble.
UKraine did get the support but what about the other world who are suffering with inflation - who are going to help those? Now everyone is in need. What has EU and USA did to the world!

You have a point and if i could remember Bill Gate once said we have a war to fight and it's not the war that has to do with a machine gun right before the issue of Covid-19 happen but the political rules and beliefs of our leaders are the major problem we have because when the Covid-19 that led to world economic meltdown happen none of the world leaders support the people in Wuhan before the virus spread globally.
You said what has EU and USA did to the world when we both know that they can support war activities wasting the funds that ought to change the life of people by printing more fiat currency.
This is the reason why Russians beg Putin not to invade Ukraine because the world is already in chaos and there better way of doing things rather than war.

[Dunamisx]

It would seem that what affects a nation in any part of the world negatively or positively can also affect another. Riding on the back of the Russia-Ukraine conflict is the matter of India's GDP.

There's one thing that always makes people or nation get affected by government and economic policy situations whereby one is dependent on the other, i think India is lacking one thing to help boost it economy development which is internal productivity that can ease the boost of it GDP through the increase of it labour force and internal generated revenues, India relies on other countries for the sustainability of it economy and not until this is discouraged there may not be any impact on it long term economy buid up and development.

[fiulpro]

Concerned with the increase in gas price and the fuel price hike they might try and turn up to Russia for help and buy some fuel since they are basically offering it to anyone who would be willing to involve themselves with Russians, this would also mean they might have a huge setback from the international market making the whole situation even worse for them. Sanctions might actually make it better for them and they would be able to control the prices.

I do think that even Right now India holds a good amount of potential and they would be able to get through this soon enough and they have already stopped their food export because of the situation with Russia but it would definitely cause certain setback on a country dependent on farming.

[og kush420]

Concerned with the increase in gas price and the fuel price hike they might try and turn up to Russia for help and buy some fuel since they are basically offering it to anyone who would be willing to involve themselves with Russians, this would also mean they might have a huge setback from the international market making the whole situation even worse for them. Sanctions might actually make it better for them and they would be able to control the prices.

I do think that even Right now India holds a good amount of potential and they would be able to get through this soon enough and they have already stopped their food export because of the situation with Russia but it would definitely cause certain setback on a country dependent on farming.

India plays smart. There are very clever people in the government. Who have kept their terms with USA and on the other side they are purchasing the oil and gas from Russia. Don't know how they do it. But that is amazing how they do it. The world needs to learn these tricks from them.

[bustabitsboy]

India decided that profit is more important than morality, and they've been benefiting from trading with Russia when many others are cutting their ties because of not wanting to sponsor a war. Apparently, this plan was flawed and India will still suffer from the consequences of the war. Well, it's only fair if it does.
The way I see it, if the democratic world (and India prides itself on being world's largest democracy) truly united in a joint action with a radical principle of cutting all ties with Russia, Russian economy would collapse because it is built on selling their products, and largely selling them to democracies. That would exhaust the resources Russia can spend on the war very fast, they'd lose the war, be in a terrible economic position, and then Western countries could demand trial for war criminals and build new economic relations with the new Russia. That could all be over very fast, and that would in the end have had a smaller negative impact on global economy.

India has decided that it is important for her to have a stable economy and operating enterprises in the territory. This country does not participate in the world circus performance. This wonderful country goes its own way and does everything to make the people of this country feel better. With a huge territory and a large number of living people, this country does not have time to indulge in ridiculous unnecessary puffing of the cheeks.

[Fortify]

It would seem that what affects a nation in any part of the world negatively or positively can also affect another. Riding on the back of the Russia-Ukraine conflict is the matter of India's GDP.
 Moving from a 6.6% contraction in the year 2020-2021 to an 8.7 then on to 8.9% growth in 2021-2022, it looked like they had cause to celebrate. But it looks like the celebration is short lived as concerns have been raised by policy makers, along with the Reserve Of India (RBI) as they regrettably announce it's first interest rate hike in at least four years.
 India, one of the countries with a high GDP, import more than 80% of its crude oil and is also the largest importer of edible oil, but with prices skyrocketing and inflation rising, it has taken a toll on their economy. According to the RBI, consumer inflation has hit a 6.95% and as a result, has slashed it's yearly growth forecast to 7.2%.
 Meanwhile, Prime minister, Narenda Modi gave an announcement earlier that plans to introduce tax breaks that will offset higher food and petrol costs are being made. https://www.aljazeera.com/news/2021/12/28/india-economy
 

I've gathered from anecdotal evidence that maybe tax is not collected all that well or efficiently already, so this might have a negligible benefit to the vast majority. There will be white collar workers who are all on the books and representing the professional economy, but in a country of around 1.4 billion many will be subtly evading tax already. Maybe if it helps food and energy costs reduce without directly involving a workers wages it will be successful. That being said, the whole world is going through turbulent times right now and it is impossible to say what will happen by the end of the year, but if inflation keeps skyrocketing then the poor will be suffering the most and need any benefits from government action.

[Kakmakr]

Well if it is true that India are buying Oil from the Russians and refining it and then selling it to the EU to help Russia to bypass the "Western" sanctions... then I have no empathy for them. These sanctions were implemented to stop the WAR in the Ukraine and countries like India are sabotaging this effort by buying the Oil and profiting from the deaths of innocent Ukrainians. 

India can be thankful that the "West" are not punishing them for this by implementing sanctions against them too. Just imagine what will happen to their economy if they decide to do that. 

[BCwinning]

Hmm, India is buying oil at a discount rate but they are selling those oil by refining to European countries when oil price in their own country is skyrocketing. When people are suffering because of these price hikes then govt is making a hell lot of money.

They can not reduce oil prices in their country when they are already buying it at a discount rate then how OPEC countries increased oil supply will decrease the oil price?

But if India is buying it at a discounted price, why not share this benefit to its people?

it's call capitalism, buy cheap sell for a markup as much as the market bears.
I would not doubt for one second that refineries anywhere in the world would jump at the chance to buy discounted oil and resell it at global rates.
That goes for India, China, Hungary or anyone else including the USA but there would be some hoops to jump for buyers in the US to get hold of Russian oil at steep discounts.

[Bitcoinking99]

India has said that other countries are gaining more by trading with Russia than profit is morality and war is causing conflict between them.  Again, America has sold a lot of gas and oil to Europe.  And the United States has decided to do a lot of business with Ukraine.  A few days ago, a terrible war broke out in Russia.  Again, I have heard that GDP has increased in India or China.  If the United States pressures India on certain issues, India will retaliate.  At the current price of oil, I think the people of that country need a little help in reducing the price of oil.  I think the situation in India will get better soon.

[BCwinning]

  If the United States pressures India on certain issues, India will retaliate.  At the current price of oil, I think the people of that country need a little help in reducing the price of oil.  I think the situation in India will get better soon.

Exactly how is India going to retaliate ? that would be amusing. and pretty futile
I hope the states do sanction them, with the blood oil they purchase. Every country is going thru tough times. the world stood by them when China attacked their borders, but they are not standing with the world in support of Ukraine.

[bitgov]

  If the United States pressures India on certain issues, India will retaliate.  At the current price of oil, I think the people of that country need a little help in reducing the price of oil.  I think the situation in India will get better soon.

Exactly how is India going to retaliate ? that would be amusing. and pretty futile
I hope the states do sanction them, with the blood oil they purchase. Every country is going thru tough times. the world stood by them when China attacked their borders, but they are not standing with the world in support of Ukraine.

India play smart. - that is one thing I like about them. They are having good terms with USA and on the other side they are buying oil from Russia and selling it to EU. Isnt that smart? HOwever they are also giving oil on less prices to their locals .. and they are giving subsidy to the people for the purchase of solar panels. Great move though!

[Freeesta]

Well if it is true that India are buying Oil from the Russians and refining it and then selling it to the EU to help Russia to bypass the "Western" sanctions... then I have no empathy for them. These sanctions were implemented to stop the WAR in the Ukraine and countries like India are sabotaging this effort by buying the Oil and profiting from the deaths of innocent Ukrainians. 

India can be thankful that the "West" are not punishing them for this by implementing sanctions against them too. Just imagine what will happen to their economy if they decide to do that. 

This is because the European Union needs Russian oil. With the help of India, Europe receives oil from Russia. And this mechanism works to circumvent sanctions against Russia. It is unprofitable for Europe to impose sanctions against India, because they will not be able to buy Russian oil. This is the "sanctions" against Russia and that will be enough so that the countries of Europe do not return to the primitive communal system by the beginning of winter...

[YinShuiSiYuan]

This is because the European Union needs Russian oil. With the help of India, Europe receives oil from Russia. And this mechanism works to circumvent sanctions against Russia. It is unprofitable for Europe to impose sanctions against India, because they will not be able to buy Russian oil. This is the "sanctions" against Russia and that will be enough so that the countries of Europe do not return to the primitive communal system by the beginning of winter...

Well what's so special about Russian oil? If Europe had to buy oil then why not import the oil for Gulf states which are also rich in oil production. May be importing Russian oil via India is still cheaper then gulf state oil. Europe are always after maximum gain. On one side they are pushing ukarine not to surrender while on the other hand still buying Russian oil.

[bustabitsboy]

This is because the European Union needs Russian oil. With the help of India, Europe receives oil from Russia. And this mechanism works to circumvent sanctions against Russia. It is unprofitable for Europe to impose sanctions against India, because they will not be able to buy Russian oil. This is the "sanctions" against Russia and that will be enough so that the countries of Europe do not return to the primitive communal system by the beginning of winter...

Well what's so special about Russian oil? If Europe had to buy oil then why not import the oil for Gulf states which are also rich in oil production. May be importing Russian oil via India is still cheaper then gulf state oil. Europe are always after maximum gain. On one side they are pushing ukarine not to surrender while on the other hand still buying Russian oil.

Of course, it's not about the exclusivity of Russian oil. It's about the price of oil. Market relations presuppose the extraction of benefits, therefore it is quite understandable why the European Union prefers oil from Russia, even through "second hands"   It is beneficial for everyone and works, why not?

[Hydrogen]

It should be mentioned that india is emerging as a rival to china. There have been troops stationed along the india china border for years. In anticipation of possible war breaking out. These tensions cause the media to downplay india's strengths, the way they tried to downplay the threat russia posed to ukraine early in the invasion.

Remember when the media predicted russia's economy would collapse and the ruble would hyperinflate? This happened only a few months ago. Expect similar treatment of india by the media. They will definitely exaggerate any disadvantage india may have in global markets, defense and economic strength. There should be many doom & gloom predictions made involving india for our near future.

[jrrsparkles]

Do you think this official numbers can be real? Let's take a look at Srilankan government they said inflation is about 40% but in reality its almost 300% so this itself a proof that we have to multiple the official numbers with three or even more to get the real one. Tax exclusion? Probably due to some elections there I guess because recently Some big companies announced that they are pulling back due to excessive tax been imposed on them.

[bitgov]

Do you think this official numbers can be real? Let's take a look at Srilankan government they said inflation is about 40% but in reality its almost 300% so this itself a proof that we have to multiple the official numbers with three or even more to get the real one. Tax exclusion? Probably due to some elections there I guess because recently Some big companies announced that they are pulling back due to excessive tax been imposed on them.

And also when one government leaves they put the blame on the previous government for doing all the ills to the country and they are here for doing the right things.
We are all  so tired of all those stories. And this number game of course too.