Russia became the top oil supplier to India during the fiscal year 2023/24 for a second year in a row, squeezing the market share of Middle Eastern and OPEC producers to historic lows, ship tracking data from industry sources showed. New Delhi has been gorging on Russian oil sold at a discount after Western nations shunned purchases and imposed sanctions on Moscow over its invasion of Ukraine.
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The International Monetary Fund has applauded India for maintaining fiscal discipline in an election year, saying that the Indian economy is doing well and continues to be the world's bright spot. "At this point in time, India's economy is doing well. Growth at 6.8 per cent is very good. Inflation's coming down. We have to make sure that inflation comes down to target."
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Shares of Mukesh Ambani-led Jio Financial Services declined 3% at Rs 372 on BSE in Friday's early tarde as the investors await the fourth quarter earnings’ result later in the day.Earlier this week, the firm announced that it signed an agreement with the asset management firm BlackRock, Inc for the launch of their wealth management and broking business.
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