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India is storing as much oil as it can at today's low oil prices of about $20-$30 per barrel in May 2020. With India asking the U.S. to store oil from U.S. shale producers at its strategic petroleum reserve storage facilities in the U.S. Already its existing storage facilities of 5.3 million tonnes (39 million barrels) are full, and the storage capacity will be more than doubled with an additional 6.5 million tonnes (48 million barrels) to be built quickly. About 8.5 million tonnes (62 million barrrels)  are in ships on oceans around the world. Demand is only 20% during the lockdown but is expected to reach levels of 2019 by June 2020. Only about 20% of oil consumption comes from existing storage.   That Indian oil capacity is 39 million barrels of storage shows how little was done over succeeding administrations without national aspirations for a growing country with hundreds of million of young people, when the oil storage capacity today of 39 million barrels compares with over 500 million barrels for Japan and for China. A huge Indian government aid package of $280 billion for the economy can be offset by gains in other areas such as low oil price oil storage, and gains in supply chain manufacturing, increasing the size of the domestic market for local manufacturers with incentives and loans, and new rules for stressing local manufacturing for a self-reliant economy. ...

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The Economist points out serious problems at India's state owned banks. Following a $21 billion or 1.3 trillion rupee bailout from the government, and a new bankruptcy law to help banks deal with bad loans, the Indian banking sector was seen as recovering. Last week (Feb. 2018) showed new problems at three of the largest state owned banks. PNB, Punjab National Bank, is faced with fradulent transactions for 114 billion rupees, about a third of its market capitalisation. A jeweller, Mr Nirav Modi, had PNB employees issue letters of credit which were then used to borrow overseas, but the credit was not shown in PNB's books. The State Bank of India, SBI, is faced with losses after tackling bad loans. The Reserve Bank of India, India's central bank and bank regulator, has taken action to have banks recognize more bad loans to clean up the banking system.  The Bank of Baroda, the third largest state owned bank, is exiting South Africa after entering that market and lending to the controversial Gupta family that is seen as having undue influence on the government of ex- president Jacob Zuma of South Africa.  These events have battered the reputation of state owned banks in India. One private lender HDFC bank alone now has market capitalization worth more than the entire state owned banks in India. State banks are worth less than net assets in the market, showing a huge credibility gap. The bad loan situation that goes back to previous governments is affecting the growth rate in India's economy and creating new pressures on the government of prime minister Modi as it faces general elections in 2019. ...

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The Indian government is putting a 76% stake in Air India up for sale. Air India has not made a profit since 2007 and a bidder would be taking on $5 billion in debt. What makes it attractive is a market in India growing at 20% for airline passengers. Potential bidders include Indigo, which is interested only in the international business of Air India to add to the 9 destinations overseas it flies to. Vistara, a joint effort of Singapore Airlines and the Tata Group is also a likely bidder. Air India has international slots at London Heathrow and at New York JFK airports that are attractive for bidders.

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BBC looks at the Indus Waters Treaty of 1960 that allocates waters of 6 rivers. Waters of three rivers in the east going to India, and 80% of waters of three western rivers including the Indus river going to Pakistan. Both countries are required to share waters data to manage agriculture. India is upstream for these rivers.  In the same way China is upstream of the river Brahmaputra in India and is building dams in Tibet to control flow of water downstream to India. There is no treaty for the Brahmaputra between India and China as China has occupied Tibet since 1950's and acquired Aksai Chin in the Kashmir region from Pakistan. Before 1950 for ten centuries Tibet region was a distant land mostly unreachable from China and China was never in control of Tibet. Kashmir region for 15 out of 18 centuries since 100 BC was a land of Vedic, Buddhist Shiva cultures. For China the occupation of Tibet on the borders of India creates a situation that is not sustainable for long and stretches resources at a time when India is rapidly building the same level of infrastructure on its side of the border. Chinese people in the provinces bordering Tibet have shown little interest in moving to the vastly different high country of Tibet. At some point in history not too distant by 2050, China (and Japan) will revert to its Buddhist religion and culture and with respect for Buddhist culture see Sarnath, Kushinagar, and Bodh Gaya more as sacred pilgrimage places in India, a common heritage with India to be treasured and revered. Something the Europeans and Americans cannot comprehend, the depth and breath of Vedic Buddhist and Shiv culture in Asia. ...

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India's central bank chief, Rajan, favors a lower inflation target of 4%, with fluctuations of 2% up or down. Lower inflation is critical for India to achieve higher growth rates. The World Bank lowered the rate of growth in the global economy but kept the rate of growth of 6.4% for India unchanged. Rajan also favors creating a more formal system for setting rates, with a committee like the Open Market Committee in the U.S. deliberating over the different factors for such a decision. Rajan was a professor at the University of Chicago, and chief economist at the IMF, before joining the central bank. Central bank policies have helped stabilize India's currency, the rupee. The lower cost of oil for India with an oil import bill of $100 billion is a big boost for economic growth. For the global economy this comes at a time when China's growth rate is slowing to below 7%.

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At a videoconference between DJT and European leaders on Aug. 14, 2025, initiated by Germany's Merz , it was decided that no territory exchanges are to be discussed at DJT Putin meeting in Alaska. DJT and the Europeans will simply seek an immediate ceasefire followed by talks between Zelensky and Putin with DJT offering to be there to mediate differences. DJT says there will be strong sanctions on Russia in the event no ceasefire is reached. Legislation in Congress with 80 senators on board a clear majority of both parties is for putting a 500% tariff on countries such as China and India that import Russian oil. These imports exceed $100 billion each for China and India. DJT has placed a 50% duty on India if negotiations do not yield results on this issue. This is seen in Congress as fueling the continuation of the Russian war in Ukraine.

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Indian Foreign Secretary Vikram Misri says-

"We intend to be able to cooperate in co-designing the reactors, co-developing them and co-producing them, we feel this will allow us to tackle complications faced in other conventional projects," he said. This approach to build smaller modular reactors because it comes with less cost and which can be reassembled at the usage site is a new field. 

India is putting $1.2 billion in nuclear research.

India sets goal for 100GW of nuclear energy 2047.

Five Indian built nuclear reactors by 2033.

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After denying clearances for development projects for three decades, the Indian Supreme Court green bench of Justices Gavai and Vikram Nath clears 118 development projects already delayed for 5 years for pending litigation. 118 projects were cleared, including 15 held up for 10 years, based on the "sustainable development" idea that takes a look at the bigger picture, the aspirations of youth, and the bigger possibilities for renewables and environment with a bigger economy. It shows how India which at one time in 1990 had about the same GDP as China, has today one fifth the GDP of China, and with it lacks the same scale of investment for renewable energy and climate change action that China has because of China's larger economy. In this sense the whole country of 1.2 billion Indians, including hundreds of millions of farmers and urban residents, the Supreme Court and India's institutions, have suffered more than the one lost decade the prime minister referred to in the Budget session of parliament. It is more like three decades since China pushed ahead after 1990. China having suffered from the Japanese invasion and civil war for three decades in the 1920-49 period and three decades of drift in economic direction following 1949. India faced its own period of failed governance that matches the failures in China by 1990. The SC bench stated- "The Supreme Court is flooded with applications after applications, seeking permissions to construct primary schools, public health centers, anganwadi centers, an other public utility buildings in remote areas. Himachal Pradesh is constrained to approach the Supreme Court even for seeking permission to connect villages in remote areas by roads. Needless to state, the citizens residing in the remote areas cannot be deprived of the developmental activities that are being done in other parts of the country."  The Supreme Court called it ridiculous that the states were required to rush to the Supreme Court to do the minimal developmental activities.  That the Supreme Court and other institutions have taken so long to say and do this is itself one of the reasons India has fallen behind China. It will need to accelerate its efforts, in the way that the rest of the country and the world is doing to create an environment in which development can meet the aspirations of the Indian people. Efforts for climate change action can take place at the same time with bigger investment capabilities from the larger economy and advanced technological capabilities. The two can and do go together, a point missed for far too long.  An approach even the US has grasped and is doing under president Biden. The US has gone through its own period of failed governance for four decades of neglect of manufacturing and infrastructure that president Biden talked about in his State of the Union address to the US Congress last week.  Biden now sees the problem itself as an opportunity to get it right. So can India.   ...

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Kate Conger NYT looks at working for Google in 2007 vs 2025 how tech or software jobs are not exciting anymore. Many of the so called Tech companies -as technology and science is the very basis of life since the year 1700 in UK, Europe and the US and today's "Tech" is a misnomer in that context- have become huge bureaucratic, and unresponsive. Computer coding is not the profession it once was, not even in India as Indian reports show it has also lost it's glamour there. This kind of "Tech" of Google, Apple, and social media was always a cultural fad that made things look cool so that the highest profit margins could be made and justified, ignoring the essential facts about science and technology over 300 years 1700-2000 in the UK, Europe and the US. Since the early scientific observation in the 18th century in UK and Europe science has underpinned our lives, and with the industrial revolution and machines it has covered every aspect of our lives with new inventions and scientists into the 19th, 20th and 21st century. As a cultural fad of the Google /Apple kind it came on the back of the largest deindustrializing of US and Europe in the late 20th and 21st century, and ignored the fact that science and technological application is part of everyday life, the very meaning of the word modern that Japan, China and India has aspired to, to copy the Europeans and Americans, not the prerogative of any corporation.   ...

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Amitabh Kant reflects on his 6 years at Niti Ayog planning for development in India. He says energy transition is an important part of development for India. The integration of India as a major part of a new supply chain for the free world is a critical part of India's development. Kant talks about the aspirational districts program that covers transformation of the lives of 80% of India's people living in 112 districts. Moving India up by 79 positions on the World Bank Ease of Doing Business rankings is also one of the tasks he looks back at with a sense of achievement. Parmeswaran Iyer who headed the Swachh Bharat and Jal Jeevan Missions will now be new head of NIti Aayog, the organization that is driving India's development to 2030 and 2040. Niti Ayog stands for National Institute for Transforming India. Its pillars are- 1. Pro-people  2. Pro-Activity  3.Participation 4. Empowering 5. Inclusion of All 6. Equality 7. Transparency It has a maximum of 4 members. Suman Bery is vice chairperson appointed in March 2022. The members are appointed by the prime minister. It is different from the earlier Planning Commissions under Nehru in that it does the work of being a think tank yet the allocation of funds and decisions come under the prime minister and the finance ministry. ...

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S&P 500 up 5% in 2025 by June 27 2025 recovering 20% form lows after tariffs. Scott Bessent had promised agreement in place by July this date will be extended  yet confidence has returned that the agreements will be put in place after German chancellor Merz met with DJT at the White House. With Germany leading the way the biggest of the agreements with EU could be put in place. Additional agreements would come with India and China, and Japan, South Korea.

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The contrast between modernizing, developing East and South Asia ( from Mumbai to Shanghai) with war torn desolate West Asia (from Tehran and Baghdad to Kabul and Islamabad) is so striking today that it is something to reflect upon for wisdom and understanding. UAE support for Sudan's RSF Rapid Strike Force and Saudi support for the military - fracturing of Sudan, errors piled on errors led to the civil war in Sudan. A civil war in a country neighboring Saudi Arabia just across the Red Sea. Saudis and UAE were on opposite sides briefly after UAE pulled out of Sudan, UAE acting in this way to object against Saudis requesting US sanctions on UAE.  Once close partners have moved apart as they spread their influence in different conflicts in the Middle East.  This has not created a region that can grow economically without the disruptions of conflict in the way other parts of Asia have emerged to modernize the countries as in Taiwan, Korea, China and India. In neighboring Pakistan another conflict has emerged as partners split, with looming conflict between Afghanistan and Pakistan. Yemeni Houthis are in conflict with the US and affect the Persian Gulf shipping lanes.  Iran with it's pursuit of weapons programs and nuclear weapons is using capital that is badly needed to improve the economic situation on arms buildup for the regime and for allies in Lebanon and Yemen, leading to protests and crisis. In this way the Middle East has failed to use oil wealth to modernize the entire region. Much of it was wasted in Iraq and now in Iran by policies that led to war and regional conflicts not modernization and technological transformation that has happened in Asia. The US has inadvertently becoming a partner to this as when the Obama administration helped fund Iran's economic rebuilding which was instead used to fund the military, and before that the Reagan administration support for Iraqi socialist ideology regime. The challenge for China was how to modernize after the Japanese invasion and civil war. In Korea it was how to modernize after the civil war. In India it is how to modernize with a smaller neighboring country Pakistan promoting terrorism and wars now with China's support. In Asia all these challenges were and are being met to steadily and persistently modernize to European standards with a singleminded focus and determination to meet the aspirations of the people with the US business working alongside Taiwanese, Korean, Chinese, and Indian governments and private industry. In West Asia various ideological (Iraq), military (Pakistan), religious Shiite (Iran), religious + modernizing (Saudi +UAE) with erratic leaders and little representation of the people, has destroyed the tranquillity of the region and destroyed democratic forms of government, destroyed bottom up education and health of the population except for priviliged groups in countries in the region of West Asia. Involvement of US and Europe or Russia in West Asia has led to distintegration of Soviet Union (Boris Yeltsin) and deindustrialization of US and Europe (Reagan, Bush, Clinton, Bush, Obama administrations) with business shipping out manufacturing to China while wars engaged the attention of American and European elites in Iraq, Iran, Pakistan, Afghanistan. The entire west Asian scene for 1950-2030 has been a disaster, one massive disaster for all involved. The contrast with East Asia and South Asia reminds one of the words from Robert Frost of New England in Mowing- that reflects on the enduring value of honest labour. "My long scythe whispered to the ground. What was it it whispered? It was no dream of the gift of idle hours, or easy gold at the hand of fay or elf: anything less would have seemed too weak to the earnest love that laid the swale in rows. The fact is the sweetest dream that labour knows. My long scythe whispered and left the hay to make." ...

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The Supreme Court Observer shows how the Supreme Court Justices Chandrachud and Kaul arrived at their decision on the abrogation of Article 370 in India for a prin cely state during the formation of India as an independent nation. CJI Chadrachud held that the proclamation by Karan Singh accepting the supremacy of the Constitution of India, at that moment all sovereignty was irrevocably surrendered. The Court held that the Article 370 was a temporary provision considering the historical context, wording and placement in part 21 which includes other temporary and transitional provisions.

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Diesel prices are regulated and subsidized by the Indian government, but gasoline prices are deregulated since 2010, resulting in gasoline costing 64% more than diesel in India. As a result buyers are staying away from gasoline cars and shifting to diesel creating distortions in demand. The government is considering a tax on diesel cars and SUV's of between $3000 to $4600 to correct the distortion. Because lower income people woud be hurt by increasing the price of diesel it continues to be subsidized. Because of the uncertainty car manufacturers are shutting down production to reduce growing inventory of gasoline vehicles. High interest rates of 12% on car loans also reduces demand. Suzuki Maruti sales declined 6% in May 2012, Ford and GM showed sales declines of 14% and 20%. The year ending March 2012 shows Indian car sales growing only slightly by 2.2% to 2 million cars. Sales were rising at 29% only about a year ago. Gasoline costs 68 rupees a liter in New Delhi after a 11.5% increase in May 2012, compared to 41 rupees per liter for diesel. The increase in gasoline prices is a result of the government having difficulty paying the rising imports of oil, costing $141 billion for the year ending March 31, 2012. The sharp slowdown in the car industry and the problems in the energy sector have affected India's growth rate....

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New details emerge on how India informed Pakistan that only terrorist bases were targets not the Pakistan military. India's Foereign Minister Jaishankar says this was to make clear that only terrorist bases would be struck in response to the terrorist attack in Pahalgam on tourists. This was to be careful so that deescalatory steps could be taken. When Pakistan chose to attack military targets in India India did the same on military targets and air defense systems in Pakistan were taken out. At that point India insisted that for a stop to the war Pakistan's general would call India's general to end the war, which is what happened. Jaishankar made it clear that US Marco Rubio of JD Vance complied with India's request to the US that only after the Pakistan general called the Indian general would the conflict be stopped as India had not targeted Pakistan military.

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The Ayushman Bharat Mission (Swasth Bharat) launched by the Indian prime minister this week aims to fix the healthcare infrastructure that was neglected for decades since independence. It aims to increase investment to provide much of the rural population access to healthcare services. Investment in healthcare will increase over a six year period from 1.15% to 2.25% of GDP. The investment is of 64,000 crore rupees, about $10 billion over 6 years. By comparison the UK invested 5% of GDP in 1980 for healthcare spending which increased to 9% by 2017. This suggests that this is just the first step towards increased investment in healthcare spending to build medical colleges, hospitals facilities, and rural healthcare clinics from the smallest unit level in districts across the country.  The pandemic showed weakness in India's healthcare facilities particularly at the rural level. The Ayushman mission was launched in Uttar Pradesh India's largest state with a population of 250 million where healthcare facilities suffered most from neglect since independence. ...

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India's 945 million voters today compares with 174 million in 1951, and 214 million in 1962. Not till 1962 was election turnout at over 50%. In 2014 and 2019 election turnout was at 66%. The Election Commission of India wants to see turnout at 75% by helping migrants and youth to vote. 

 

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The entire administrative setup in India through 700 district collectors will participate in the Good Governance campaign in India. Every district collector will present one good governance practice and one successfully addressed public grievance on www.pgportal.gov.in/ggw. All administrative heads at the chief secretary level are involved, including central ministries and departments, state governments, departments of personnel and training, in an effort to create a new culture of good governance practice in India.

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Some of the most vulnerable populations in the world during coronavirus are in India, Pakistan, Bangladesh and the surrounding regions, in Mexico, Argentina and Brazil, and in African countries. This report looks at the increase in poverty in Pakistan and increasing food insecurity with food prices increasing. Government priorities are a concern says this report. Malnutrition is increasing with estimates ranging and some as high as 40% of children. A PTI official of the government is cited here as saying that it could be as high as 50% of children suffering from malnutrition. One of the problems for food insecurity in the Indian region going back to the famines during the British rule in Bengal and the famines in Bihar during Congress rule after independence is that supplies are lacking of foodgrains or that the incomes have fallen so drastically that people could not afford to buy food. Governments stepped in after independence to provide foodgrains at subsidized prices. These programs need to be pushed to the forefront and and international assistance needs to be sought. Planning minister Asad Umar points out in this report in DW.com that millions of Pakistanis are falling below the poverty line increasing food insecurity at a critical time. He gives estimate that one out of four Pakistanis have had their diets reduced. There is every reason to support efforts for cross border supply of foodgrains between India and Pakistan as humanitarian approach in the coronavirus crisis even as differences exist over border regions- as such differences exist all over the world over borders but humanitarian approach has benefitted the entire region during the Bihar famines after independence with aid from the U.S. Johnson administration. At that time in 1966-67 the seriousness of the situation in Bihar was only gradually and reluctantly accepted by the institutions, officials and governments around the world, says Cambridge University Press looking back on that crisis. And it is to the great credit of the Johnson administration that it launched the subsequent efforts for the Green Revolution and foodgrain production involving Norman Borlaug and the Indian government. Something of this type needs to be launched again across the region.   ...

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The view presented that Ambedkar's conversion to Buddhism was because of frustration that he had agreed to give up his demand for separate electorates for the lowest castes with the Poona Pact that he made with Gandhi in 1932. Gandhi saw separate electorates as one more effort at continuing divide and rule by the British to keep India divided and weak. This report in Indian Express says Ambedkar addressed a huge gathering of Mahars in Bombay in 1936 and advocated conversion to Buddhism. How much this was done to practice Buddhism is not clear. The Four Noble Truths are described as being dismissed from being part of Buddhism. Yet Buddhism as practiced in Sri Lanka, Japan and other countries consider it to be central to grasping the idea of Buddhism.

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PM Modi attends the 125th anniversary of Founders day of the Scindia School of Gwalior which was founded in 1897 at the turn of the century when India was going through an awakening. Gwalior in Madhya Pradesh played a part in the War of Independence in 1857. More recently it was the home of former prime minister Atal Bihari Vajpayee in the large Hindi speaking region at the heart of India. India's Minister of Civil Aviation and Steel is Jyotiraditya Scindia whose royal family founded the school during the British Empire.

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PM Modi pays homage to Atal Bihari Vajpayee who set India on the course of modernization and technological advancement, its course for unification as a parliamentary democracy under the Indian Constitution. "Atal Ji understood Indian democracy and also the need to make it stronger. Atal Ji presided over the creation of the NDA, which redefined coalitions in Indian politics. He brought people together and made NDA a force for development, national progress and regional ambitions. His Parliamentary brilliance was seen throughout his political journey. He belonged to a party with a handful of MPs but his words were enough to rattle the might of the all-powerful Congress Party that time.” “When it comes to the social sector, an initiative like the Sarva Shiksha Abhiyan highlights how Atalji dreamt of building an India where modern education is accessible to people across the nation, particularly for the poor and marginalised sections. At the same time, his government presided over many economic reforms which set the stage for India’s economic surge after several decades of following an economic philosophy which encouraged cronyism and stagnation.” ...

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Kerala and Tamilnadu states with declining fertility, migration and ageing society are outliers in India with about half its population under the age of 25. About 600 million people in India are in the 18-35 age group- a clear case of rising aspirations society is happening in India at the very time that the US and European Union are looking at India for the future with shared values of representative democracy, open societies, and building a new supply chain in Asia. This BBC report looks at the state of Kerala where migration is leaving parts of the state only with elderly people. About 10% of the $100 billion in remittances each year from Indians overseas come to the state of Kerala. Life span is about 75 years in Kerala exceeding the national life span of 69 years. However this is looking at it backwards as India remains a vibrantly young country even with the advances in longevity where much of India is close to age 70 years in longevity and advances in medical care and health are taking place at a rapid pace. The problems of Kerala are an outlier for India. ...

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India's Foreign Minister told a conference that China's forward deployments at Galwan in violation of 1993 and 1996 agreements was an attempt to change the Line of Actual Control. China after years of peaceful development under previous administrations, during which China had gained from the trade relationship with the US and foreign investment from the US business community, sought  to put India at a disadvantage using its larger economy and technological assets obtained through American business assistance. This was done by making forward deployments right at the Indian border to change the Line of Actual Control in progressive steps. Jaishankar made it very clear. "It is hard work, very patient work, but we are very clear on one point, which is we will not allow any unilateral attempt by China to change the status quo or alter the LAC. I do not care how long it takes, how many rounds we do, how hard we have to negotiate- this is something we are very clear of." Going back to the period of independence with Nehru in 1947- China's occupation of Tibet was an occupation of a peaceful country that led to the situation that India faces today of a border stretching from east to west on the Himalayas that faces China. Faced with the partition and refugees from that partition India under Nehru was not in a position to respond effectively to that occupation. Does China gain anything from being at that border through the occupation of Tibet is a serious question? Why? Because it faces a Vedanta and Buddha driven culture and people with population of 1.8 billion stretching to the Indonesian islands that were and still are the fundamental source of  China's own Buddhist culture and tradition.  US business has allied with one country after another Japan, China and now India. The US has faced wars with Japan, and sometimes in a failed attempt to understand the aspirations of  Southern Asia allied with British ideas of the region which were based on the policies of British Empire to divide the region on religious and language, caste based barriers. US business also lacked a true perception of the importance of working class and families in the US as it sent factories and surrendered its own manufacturing to China. The world is now changing following the pandemic and new supply chains and manufacturing policies of the US are being structured. It is in this context where India's pace of economic growth and technological advancement will change its capabilities and its capacity to meet the aspirations of 1.8 billion people in Asia with a common tradition and culture. It is in this context that one can ask the question does China have anything to gain from the occupation of Tibet and being on the border with a country and cultural tradition of 1.8 billion people stretching across South and South east Asia?  ...