US eyes more cuts in Indian imports of Iranian oil

May 7, 2012

clinton

Kolkata, May 7: India: Hoping to wean India from Iranian oil imports, US Secretary of State Hillary Rodham Clinton is urging Indian leaders to explore alternative suppliers as she opens a three-day visit to the energy-starved South Asian giant that will also focus on regional security and easing trade restrictions.

Clinton arrived in the eastern city of Kolkata — the first secretary of state to visit the former colonial capital of 14 million — on Sunday after visits to China and Bangladesh as officials traveling with her said the Iranian oil imports would top an agenda that includes India’s relations with nuclear rival Pakistan and the future of Afghanistan.

India has huge energy needs to fuel its rapid growth and has made some progress in easing its dependence on Iranian oil. But a senior US official said the United States wants to see more.

The official, who spoke on condition of anonymity to preview Clinton’s private discussions in Kolkata and New Delhi, said the “trend lines are good” but “we really need to receive assurances that they are going to continue to make good progress.”

Like other major consumers of Iranian oil, India could face US sanctions by the end of June if the Obama administration determines it has not made significant cuts in imports under a law aimed at squeezing Iran’s petroleum industry to press the country to comply with international demands over its nuclear program.

A dozen European nations and Japan have already been spared from those sanctions after the administration determined they had substantially reduced their Iranian oil imports. India, along with China, South Korea, Turkey and South Africa, has still not received such waivers.

India imports around 70 percent of its oil, and about 9 percent of the imports are from Iran. The US official said India had recently stepped up imports of oil from Saudi Arabia to make up for the reduction in Iranian oil and that the US was eager to see the Indians explore other alternatives. Iran is India’s second-largest crude oil supplier after Saudi Arabia and according to media reports imports 550,000 barrels a day.

India has been pushing its oil companies to cut back their crude imports from Iran and an Indian official, speaking on condition of anonymity per custom, said the government is willing to discuss the matter. The official expressed hope India will be exempted from the sanctions.

“We believe we have a strong case, which we will put forth,” the official said.

India and Iran reached a deal earlier this year that would allow India to pay for about 45 percent its Iranian oil purchases in rupees. Iran would then use the Indian currency to buy goods from India.

International economic sanctions on Iran had made oil trade difficult, because Indian oil importers had to scramble to find banks willing to handle transactions with Tehran. The barter exchange would help India pay for the Iranian crude without resorting to dollar payments, thus bypassing international banks.

An Indian delegation visited Iran in March to promote Indian goods including machinery, iron, steel, minerals and automobiles and Clinton’s visit coincides with that of a large Iranian group that will be in New Delhi to explore Indian goods and services Tehran can buy to offset the enormous rupee payments running into billions of dollars that Iran has accumulated.

The US official downplayed the presence of the Iranian delegation, saying. “I don’t think we are too concerned about it.” The official added that the US special envoy for global energy issues, Carlos Pasqual, will visit India later in May to follow up on Clinton’s talks, the official said.

In her talks with Indian officials, Clinton will also be pressing for the country to continue economic reforms and trade liberalization, including dropping restrictions on foreign investment in the finance sector and allowing large western retailers to open up, the US official said.

Before heading to New Delhi on Monday, Clinton will meet in Kolkata with Chief Minister Mamata Banerjee, the top elected leader of West Bengal state. Banerjee, a key partner of India’s ruling coalition, has in recent months opposed many of the Prime Minister Manmohan Singh-led Congress party’s plans to carry out economic reforms.

Clinton is expected to push for expanding US investment opportunities in West Bengal and seek Banerjee’s views on the entry of WalMart-type multi-brand retailers into India. Banerjee has been a vocal opponent of opening up India’s retail sector saying it would harm poor shop owners.

In talks with Singh in New Delhi, Clinton will look at regional security issues and the India-US Strategic Dialogue meeting scheduled to be held in Washington next month. India’s major concern, however, is the security situation in Afghanistan following the drawdown of NATO troops from the war-torn country in 2014. India has been taking a lead in the reconstruction efforts in Afghanistan and plans to host a regional investors’ conference on Afghanistan in June.

The US will also be looking at trade and investment opportunities in India. With its economy expected to grow at around 7 percent over the next few years, India is an important market for US exports. Trade between the two countries is expected to cross $100 billion this year.

However, some of the sheen has worn off the high expectations from US-India relations in the years following the signing of a landmark civil nuclear deal in 2008. Washington was riled when India chose a French company for an $11 billion order for 126 fighter jets for the Indian air force. India has sourced numerous other big ticket defense purchases from US companies.

There is also a growing perception in Washington that the Indian government has not delivered on economic reforms and has been dragging its feet on implementing key nuclear legislation that would enable US companies to invest in India.

Over the past year, Singh’s government has been bogged down by a series of scandals and resistance from its coalition partners that have brought economic reforms to a halt.

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News Network
May 7,2020

May 7: India is projected to record the highest number of births in the 9 months since COVID-19 was declared a pandemic in March, with more than 20 million babies expected to be born in the country between March and December, according to top UN body.

The United Nations Children's Fund (UNICEF) warned that pregnant mothers and babies born during the pandemic across the world were threatened by strained health systems and disruptions in services.

An estimated 116 million babies will be born under the shadow of COVID-19 pandemic, UNICEF said on Wednesday, ahead of Mother's Day, observed on May 10.

These babies are projected to be born up to 40 weeks after COVID-19 was recognised as a pandemic on March 11.

The highest numbers of births in the 9 months since the pandemic was declared are expected to occur in India, where 20.1 million babies are projected to be born between March 11 and December 16. Other countries with the expected highest numbers of births during this period are China (13.5 million), Nigeria (6.4 million), Pakistan (5 million) and Indonesia (4 million), it said.

"Most of these countries had high neonatal mortality rates even before the pandemic and may see these levels increase with COVID-19 conditions," UNICEF said.

It is estimated that there will be 24.1 million births in India for the January-December 2020 period.

UNICEF warned that COVID-19 containment measures can disrupt life-saving health services such as childbirth care, putting millions of pregnant mothers and their babies at great risk.

Even wealthier countries are affected by this crisis. In the US, the sixth-highest country in terms of the expected number of births, over 3.3 million babies are projected to be born between March 11 and December 16.

"New mothers and newborns will be greeted by harsh realities," UNICEF said, adding they include global containment measures such as lockdowns and curfews; health centres overwhelmed with response efforts; supply and equipment shortages; and a lack of sufficient skilled birth attendants as health workers, including midwives, are redeployed to treat COVID-19 patients.

"Millions of mothers all over the world embarked on a journey of parenthood in the world as it was. They now must prepare to bring a life into the world as it has become – a world where expecting mothers are afraid to go to health centres for fear of getting infected, or missing out on emergency care due to strained health services and lockdowns," UNICEF Executive Director Henrietta Fore said.

"It is hard to imagine how much the coronavirus pandemic has recast motherhood" Fore said.

UNICEF said its analysis was based on data from World Population Prospects 2019 of the UN Population Division.

An average full-term pregnancy typically lasts a complete 9 months, or 39 to 40 weeks. For the purposes of this estimate, the number of births for a 40-week period in 2020 was calculated.

The 40-week period of March 11 to December 16 is used in this estimate based upon the WHO's March 11 assessment that COVID-19 can be characterised as a pandemic.

UNICEF warned that although evidence suggests that pregnant mothers are not more affected by COVID-19 than others, countries need to ensure they still have access to antenatal, delivery and postnatal services.

Similarly, sick newborns need emergency services as they are at high risk of death. New families require support to start breastfeeding, and to get medicines, vaccines and nutrition to keep their babies healthy, it said.

"This is a particularly poignant Mother's Day, as many families have been forced apart during the coronavirus pandemic, but it is also a time for unity, a time to bring everyone together in solidarity. We can help save lives by making sure that every pregnant mother receives the support she needs to give birth safely in the months to come," Fore said.

Issuing an urgent appeal to governments and health care providers to save lives in the coming months, UNICEF said efforts must be made to help pregnant women receive antenatal checkups, skilled delivery care, postnatal care services, and care related to COVID-19 as needed.

Ensure health workers are provided with the necessary personal protective equipment and get priority testing and vaccination once a COVID-19 vaccine becomes available so that can deliver high quality care to all pregnant women and newborn babies during the pandemic, it said.

While it is not yet known whether the virus is transmitted from a mother to her baby during pregnancy and delivery, UNICEF advised all pregnant women to follow precautions to protect themselves from exposure to the virus.

Closely monitor themselves for symptoms of COVID-19 and seek advice from the nearest designated facility if they have concerns or experience symptoms. Pregnant women should also take the same precautions to avoid COVID -19 infection as other people: practice physical distancing, avoid physical gatherings and use online health services, it said.

UNICEF said even before COVID-19 pandemic, an estimated 2.8 million pregnant women and newborns died every year, or 1 every 11 seconds, mostly of preventable causes.

The agency called for immediate investment in health workers with the right training, who are equipped with the right medicines to ensure every mother and newborn is cared for by a safe pair of hands to prevent and treat complications during pregnancy, delivery and birth.

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News Network
March 9,2020

Mumbai, Mar 9: India's Yes Bank will not be merged with State Bank of India, which is set to infuse funds in the beleaguered lender, the newly appointed administrator leading the rescue plan said in a television interview on Monday.

"There is absolutely no question of a merger," Prashant Kumar, the administrator, told the CNBC TV18 channel.

The Reserve Bank of India (RBI) on Thursday took control of Yes Bank, after the lender - which is laden with bad debts - failed to raise the capital it needs to stay above mandated regulatory requirements.

Placing Yes Bank under a 30-day moratorium, the central bank imposed limits on withdrawals to protect depositors and said it would work on a revival plan. The move spooked depositors, who rushed to withdraw funds from the bank.

Kumar, a former finance chief at SBI, assured depositors their money was safe and that the moratorium on Yes Bank might be lifted much before the deadline on April 3 and normal banking operations might resume as early as Friday.

He also mentioned that the withdrawal limit of Yes Bank may be removed by March 15, 2020.

SBI Chairman Rajnish Kumar said on Saturday the state-run bank would need to invest up to 24.5 billion rupees ($331 million) to buy a 49% stake in Yes Bank as part of the initial phase of the rescue deal, adding that the survival of troubled lender was a "must".

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News Network
January 7,2020

New Delhi, Jan 7: A fringe right-wing group calling itself the Hindu Raksha Dal has purportedly taken responsibility for the attack on students of Jawaharlal Nehru University (JNU) in a video posted on social media.

The video, which was posted on social media on Monday and has gone viral since then, shows a man identifying himself as Pinki Chaudhary saying that those who resort  to “anti-national activities” will be treated in the same way that JNU students and faculty were.

He later told news channels that others involved in "anti-national activities" would face similar attacks.

There was no immediate reaction from the police on Chaudhury's claims.

“For several years, JNU has been a bastion of communists and we will not tolerate it. Hindu Raksha Dal, Bhupendra Tomar, Pinki Chaudhury take the responsibility of what has happened in JNU...all of them were our volunteers. Those who cannot do such work for Mother India don't have the right to live in this country,” Chaudhary is seen saying in the video.

“We are always ready to sacrifice our lives for Mother India. We will not tolerate anyone who speaks against the religion,” he added.

Efforts to reach the man were unsuccessful: his phone was switched off.

More than 35 students were injured Sunday when a masked mob went on the rampage, attacking students and professors and vandalising property. The JNUSU has accused the RSS-affiliated ABVP volunteers of attacking the students.

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