Business Archives - Janmat Samachar ✅ Janmat Samachar.com© provides latest news from India and the world. Get latest headlines from Viral,Entertainment, Khaas khabar, Fact Check, Entertainment. Wed, 07 May 2025 18:06:50 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.2 https://janmatsamachar.com/wp-content/uploads/2020/06/logo-news-JS-48x48.png Business Archives - Janmat Samachar 32 32 Stock markets closed in the green amid India-Pakistan tension, auto and realty stocks jumped https://janmatsamachar.com/stock-markets-closed-in-the-green-amid-india-pakistan-tension-auto-and-realty-stocks-jumped/ Wed, 07 May 2025 10:57:09 +0000 https://janmatsamachar.com/?p=20677 Mumbai, May 7  Domestic stock markets closed in the green on Wednesday’s trading session amid India-Pakistan tension. At the end of trading, the Sensex was up 105.71 points or 0.13 percent at 80,746.78 and the Nifty was up 34.80 or 0.14 percent at 24,414.40. The market rally was led by auto and realty stocks. The […]

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Mumbai, May 7  Domestic stock markets closed in the green on Wednesday’s trading session amid India-Pakistan tension. At the end of trading, the Sensex was up 105.71 points or 0.13 percent at 80,746.78 and the Nifty was up 34.80 or 0.14 percent at 24,414.40.

The market rally was led by auto and realty stocks. The Nifty Auto and Realty indexes closed with a gain of more than one percent.

Apart from this, PSU Bank, Financial Services, Metal, Energy and Private Bank indices were also in the green. Only Pharma and FMCG indices closed in the red.

Rupak De, Senior Technical Consultant at LKP Securities, said that the index is trading in a limited range. In the current situation, the market can remain in the range of 24,000 to 24,550. If it breaks the level of 24,550, then there can be a big boom.

He further said that 24,200 is an important support level in case of a fall. If it breaks, the NSE index can also touch the level of 24,000.

A bullish trend was seen in midcap and smallcap as compared to largecap. Nifty Midcap 100 index was at 54,287.75 with a gain of 851.90 points or 1.59 percent and Nifty Smallcap 100 index was at 16,417.95 with a gain of 222.80 points or 1.38 percent.

Tata Motors, Bajaj Finance, Eternal, M&M, Adani Ports, Tata Steel, Titan, Power Grid, Kotak Mahindra Bank, HDFC Bank, Maruti Suzuki and ICICI Bank were the top gainers in the Sensex pack. Asian Paints, Sun Pharma, ITC, HCL Tech, Reliance, Nestle, HUL, TCS and L&T were the top losers.

The stock market had a flat opening. At 9:20 am, the Sensex was down 40 points or 0.05 per cent at 80,600 and the Nifty was down marginally by 4.35 points at 24,375.

 

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India is becoming the third largest economy of the world, Pakistan is on the verge of ruin https://janmatsamachar.com/india-is-becoming-the-third-largest-economy-of-the-world-pakistan-is-on-the-verge-of-ruin/ Wed, 07 May 2025 10:05:14 +0000 https://janmatsamachar.com/?p=20685 New Delhi, May 7 Under ‘Operation Sindoor’, India took action against the terrorist camps of Pakistan. India carried out airstrikes on nine terrorist camps and avenged the Pahalgam terrorist attack. Pakistan is scared due to India’s action. On the other hand, there was an uproar in the Pakistan stock market on Wednesday. Meanwhile, Pakistan is […]

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New Delhi, May 7 Under ‘Operation Sindoor’, India took action against the terrorist camps of Pakistan. India carried out airstrikes on nine terrorist camps and avenged the Pahalgam terrorist attack. Pakistan is scared due to India’s action. On the other hand, there was an uproar in the Pakistan stock market on Wednesday.

Meanwhile, Pakistan is deteriorating on the economic front as well as the military front.

Actually, there is a huge difference between the two countries which got independence at the same time. On one hand, India is writing new dimensions of prosperity and is moving towards becoming the third largest economy of the world. On the other hand, Pakistan remains a hub of terror.

India remains the fastest growing economy of the world. If we look at the World Bank’s 2024 data, India’s gross domestic product (GDP) is close to $3.88 trillion, which is 10 times more than the size of Pakistan’s economy (only $0.37 trillion).

According to the World Economic Outlook report of the International Monetary Fund (IMF), India can become the fourth largest economy in the world by overtaking Japan in 2025 and the size of GDP in the current year is estimated to be $4.187 trillion.

India is miles ahead of its neighbor Pakistan on all parameters of the economy. The country’s foreign exchange reserves are at $688 billion. At the same time, Pakistan has foreign exchange reserves of only $15 billion and is on the verge of economic collapse. Also, it is also seeking a loan from the IMF.

In the early years after independence, Pakistan’s economy grew at the same rate as India with US aid and donations from oil-rich Islamic countries.

On the other hand, democratic India kept its focus on economic development and lifting people out of poverty.

At the same time, Pakistan witnessed a bloody coup and military dictatorship, where army generals are still taking decisions and promoting hostility against India.

Training and nurturing terrorism by Pakistan is a major part of this conspiracy.

After the horrific terrorist attack in Pahalgam, Moody’s had said on India-Pakistan tension that this could affect Pakistan’s economy.

The report said that the tussle with India could hinder Pakistan’s access to external funding. Apart from this, there could also be additional pressure on Pakistan’s foreign exchange reserves.

According to the report, macroeconomic conditions in India will remain stable in comparison, growth will be boosted by moderate but still high levels amid strong public investment and healthy private consumption.

 

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9 years of Pradhan Mantri Ujjwala Yojana are unmatched, more than 238 crore cylinders refilled: Union Minister Hardeep Puri https://janmatsamachar.com/9-years-of-pradhan-mantri-ujjwala-yojana-are-unmatched-more-than-238-crore-cylinders-refilled-union-minister-hardeep-puri/ Mon, 05 May 2025 16:58:46 +0000 https://janmatsamachar.com/?p=20588 New Delhi, May 5. Petroleum and Natural Gas Minister Hardeep Singh Puri on Monday informed that ‘Pradhan Mantri Ujjwala Yojana’ has become an example of women’s empowerment in the last 9 years, and more than 10 crore families have benefitted from the scheme. ‘Pradhan Mantri Ujjwala Yojana’, started on 1 May 2016 under the leadership […]

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New Delhi, May 5. Petroleum and Natural Gas Minister Hardeep Singh Puri on Monday informed that ‘Pradhan Mantri Ujjwala Yojana’ has become an example of women’s empowerment in the last 9 years, and more than 10 crore families have benefitted from the scheme.

‘Pradhan Mantri Ujjwala Yojana’, started on 1 May 2016 under the leadership of Prime Minister Narendra Modi, has completed 9 years. This scheme was started from Ballia district of Uttar Pradesh. The Ministry of Petroleum and Natural Gas (MoPNG) launched PMUY with the aim of providing clean cooking fuel like LPG to rural and deprived families.

Union Minister Hardeep Singh Puri wrote in a post on social media platform X, “9 years of Ujjwala Yojana, more than 10.33 crore families happy!”

Union Minister Puri further wrote, “Under the guidance of Prime Minister Narendra Modi, ‘Pradhan Mantri Ujjwala Yojana’ has become an example of women empowerment and a boon of health for housewives!” Giving information, Union Minister Puri said that in these 9 years of PMUY, more than 238 crore cylinders were refilled, which shows the success of this scheme. Apart from this, he informed that the addition of 11,670 new LPG distributors under the scheme so far has made the delivery of cylinders possible even in remote and inaccessible areas. The use of traditional cooking fuel has a harmful effect on the health of rural women. Apart from this, traditional cooking fuel also has an impact on the environment. This scheme has become a boon for those rural and deprived families who used firewood, wood, coal, cow dung cakes as fuel for cooking. The objective of PMUY is to provide LPG connections without deposit to adult women of poor families. With this scheme, the central government is promoting health, environmental protection and women empowerment.

 

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India-Middle East-Europe Economic Corridor will benefit all countries: Experts https://janmatsamachar.com/india-middle-east-europe-economic-corridor-will-benefit-all-countries-experts/ Wed, 16 Apr 2025 15:11:54 +0000 https://janmatsamachar.com/?p=20430 New Delhi, April 16. India-Middle East-Europe Economic Corridor (IMEC) is an initiative that will benefit all the countries associated with it. There is no leader in this project, rather things will be taken forward with mutual cooperation. This statement was given by Professor Ashwani Mahajan, board member of CIEU and co-convener of Swadeshi Jagran Manch, […]

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New Delhi, April 16. India-Middle East-Europe Economic Corridor (IMEC) is an initiative that will benefit all the countries associated with it. There is no leader in this project, rather things will be taken forward with mutual cooperation. This statement was given by Professor Ashwani Mahajan, board member of CIEU and co-convener of Swadeshi Jagran Manch, on Wednesday.

Speaking to IANS on the sidelines of IMEC Conclave 2025 in the national capital, Mahajan said that this is a project that has been created not for dominance, but for cooperation. For this reason, a large number of countries want to join IMEC. Its objective is not only trade but also infrastructure development along with the welfare of the people.

The IMEC projects launched by Prime Minister Narendra Modi during India’s G-20 presidency in 2023 are being seen as a strategic move in response to growing global disruptions.

Meenakshi Lekhi, former Minister of State for External Affairs in the Government of India and board member of CIEU, said that in today’s time the whole world needs alternative routes, through which goods can be transported from one corner of the world to another cheaply.

Lekhi further said that the IMEC Initiative was launched by Prime Minister Modi during India’s G-20 presidency in 2023. Its objective is to create an alternative trade route with the participation of all, in which all the countries involved are parties.

Shyam Saran, former Foreign Secretary of India, while talking to IANS said that it should be seen from a historical perspective. For centuries, India has been the center of sea routes, which connected the East and West. Similarly, the ancient caravan route which connected us to Central Asia and China. Today, we are reconnecting these ancient routes through IMEC. You can understand its importance from the fact that it connects us to West Asia, a highly dynamic region of the global economy.

Secretary (Economic Affairs) in the Ministry of External Affairs, Dammu Ravi said that we should look at IMEC from a long-term perspective. It will benefit all the participating countries and create jobs, which will reduce tension in the region.

He further said that from India’s point of view, the country will play an important role in IMEC. Indian business will also benefit from this.

 

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India Reinforces Commitment to Energy Security and Exploration Growth: Hardeep Singh Puri at OALP IX & Special DSF Signing Ceremony https://janmatsamachar.com/india-reinforces-commitment-to-energy-security-and-exploration-growth-hardeep-singh-puri-at-oalp-ix-special-dsf-signing-ceremony/ Tue, 15 Apr 2025 15:30:58 +0000 https://janmatsamachar.com/?p=20404 “The Indian hydrocarbon sector is entering a new era of accelerated exploration and development,” said Shri Hardeep Singh Puri, Minister of Petroleum and Natural Gas, while addressing the Open Acreage Licensing Policy (OALP) Round-IX and Special Discovered Small Field (DSF) Signing Ceremony held here tonight. He highlighted that through investor-friendly reforms, swift approvals, scientific exploration, […]

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“The Indian hydrocarbon sector is entering a new era of accelerated exploration and development,” said Shri Hardeep Singh Puri, Minister of Petroleum and Natural Gas, while addressing the Open Acreage Licensing Policy (OALP) Round-IX and Special Discovered Small Field (DSF) Signing Ceremony held here tonight. He highlighted that through investor-friendly reforms, swift approvals, scientific exploration, and a strong emphasis on sustainability, India is steadily building a resilient and future-ready energy ecosystem aligned with the vision of Viksit Bharat.

Addressing the  esteemed gathering of dignitaries, industry stakeholders, and investors, Shri Puri noted that today’s signing ceremony signifies much more than the completion of a procedural formality—it is a powerful testament to India’s unwavering commitment to reducing its import dependence and securing its energy future.

With India currently reliant on imports for 88% of its crude oil and 50% of its natural gas needs, the urgency for domestic exploration and production has never been greater. As the Minister pointed out, “In the next two decades, 25% of the world’s incremental energy demand growth will come from India.”

Reflecting on the past, Shri Puri acknowledged the challenges the Indian upstream sector faced between 2006 and 2016—a “dull decade” marred by policy paralysis and procedural delays, leading to the exit of global energy giants like BP, ENI, and Santos. However, the tide has turned. “We were determined to unlock India’s untapped energy potential, estimated at approximately 42 billion tonnes of oil and oil equivalent of gas,” he said.

To that end, the Government has implemented a series of transformative reforms over the past decade. A key achievement has been the expansion of exploration activity, with the explored area of India’s sedimentary basins increasing from 6% in 2014 to 10% today, with a target of reaching 15%. The Minister reiterated the commitment to increasing exploration acreage to 1 million sq. km by 2030, highlighting the dramatic 99% reduction in “No-Go” areas within India’s Exclusive Economic Zone (EEZ).

Scientific, data-driven exploration has been a cornerstone of this strategy, backed by a ₹7,500 crore investment into new seismic data acquisition, aerial surveys in remote terrains, and stratigraphic wells. Importantly, geo-scientific data is now available for major basins on both coasts, with the National Data Repository being upgraded to a cloud-based platform to ensure faster, transparent access to seismic, production, and well data.

The Minister proudly noted that 76% of the total area currently under exploration has been brought under active exploration only since 2014. Under OALP Round-IX alone, 28 blocks across eight sedimentary basins have been awarded, covering 1.36 lakh square kilometers—38% of which fall in areas previously designated as “No-Go.” Additionally, two blocks were awarded under the Special DSF Round, with a total of 60 bids received.

“Congratulations to all the awardees. Your success will play a pivotal role in meeting our increasing energy demands as India continues its ascent as one of the world’s largest energy consumers,” Shri Puri said.

Looking ahead, the Minister announced that OALP Round-X has already been launched at the India Energy Week 2025, offering 25 blocks across 13 sedimentary basins—covering the largest-ever acreage of 1.92 lakh square kilometers, with 51% falling in previously restricted zones.

Furthermore, DSF Round-IV is being launched tonight, comprising 55 discoveries across nine contract areas with estimated reserves of 258.59 million metric tonnes of oil equivalent (MMTOE). All blocks have undergone rigorous technical vetting by global experts, and critically, all relevant data is being made freely available to potential investors.

He also shared that under previous DSF Bid Rounds (I, II, and III), a total of 85 Revenue Sharing Contracts covering 175 fields have been awarded.

Highlighting the potential in unconventional hydrocarbon sources, Shri Puri elaborated on India’s Coal Bed Methane (CBM) assets, currently estimated at 2,600 BCM. With 15 active CBM blocks—five already under production—the Government is preparing to launch a Special CBM 2025 Round to offer three new blocks (two in West Bengal and one in Gujarat), further diversifying India’s energy portfolio.

In a major legislative update, the Minister announced that the amended Oilfields (Regulation and Development) Act, 1948 (ORDA), will come into effect in April 15, 2025. This “landmark reform” modernizes India’s upstream regulatory framework and aligns it with international best practices.

The Government has also been responsive to industry concerns through the establishment of a Joint Working Group (JWG) comprising private E&P operators, National Oil Companies, the Ministry of Petroleum and Natural Gas, and the Directorate General of Hydrocarbons. “The JWG has submitted its report, and we are formally launching it this evening,” Shri Puri announced.

In a move towards inclusive governance and legal clarity, the Minister also launched the draft PNG Rules Public Consultation Portal, encouraging industry and public stakeholders to share feedback. These rules will help shape future Model Revenue Sharing Contracts and streamline sectoral regulations.

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Hindu College Develops Plastic-Free Air Purifier Made of Straw https://janmatsamachar.com/hindu-college-develops-plastic-free-air-purifier-made-of-straw/ Sun, 02 Mar 2025 15:15:44 +0000 https://janmatsamachar.com/?p=20216 New Delhi :The Innovation Council of faculty and students of Hindu College has developed an eco-friendly indoor air purifier with a body made of 96% straw, eliminating the need for conventional plastic casings. Prof. Anju Srivastava, Principal of Hindu College, said that this achievement resonates with the vision of Atmanirbhar Abhiyan, initiated by the Prime […]

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New Delhi :The Innovation Council of faculty and students of Hindu College has developed an eco-friendly indoor air purifier with a body made of 96% straw, eliminating the need for conventional plastic casings.

Prof. Anju Srivastava, Principal of Hindu College, said that this achievement resonates with the vision of Atmanirbhar Abhiyan, initiated by the Prime Minister of India, promoting self-reliance through sustainable innovation. On the 126th Founder’s Day of our college, the Chief Guest, Dharmendra Pradhan, also appreciated our efforts for sustainable startups and entrepreneurial innovation. The college team has been working rigorously on this innovation, focusing on sustainability without compromising performance.
Straw, an agricultural byproduct, is abundantly available and often discarded as waste, making its use in this purifier an exemplary model of upcycling. The sturdy, biodegradable material ensures durability and structural integrity while reducing reliance on non-renewable resources. “By replacing plastic with straw-based materials, we are significantly reducing the carbon footprint of air purifiers and promoting the use of biodegradable alternatives,” she added.

The innovative purifier features a three-stage air filtration system, comprising a pre-filter, a HEPA 13 filter, and an activated carbon filter. This advanced system effectively removes pollutants, allergens, and harmful gases, making indoor spaces healthier and safer. The use of high-efficiency HEPA 13 technology ensures the capture of 99.97% of airborne particles as small as 0.3 microns, while the activated carbon layer absorbs odors and volatile organic compounds (VOCs), further enhancing air purity, informed Prof. Lalit Kumar, Professor of Physics at Hindu College.

This project is funded by NBCC Services Limited (NBCCSL), further reinforcing the commitment to innovative and sustainable solutions for environmental challenges.

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Startups complete orders worth Rs 35,950 crore with the help of government e-marketplace https://janmatsamachar.com/startups-complete-orders-worth-rs-35950-crore-with-the-help-of-government-e-marketplace/ Sun, 02 Mar 2025 13:15:07 +0000 https://janmatsamachar.com/?p=20252 New Delhi, March 2 . As part of the social development of the nation, the Government e-Marketplace (GEM) has enabled startups to complete orders worth Rs 35,950 crore. Official information about this was given on Sunday. Women entrepreneurs account for 8 per cent of the total seller base on GeM, with a total of 1,77,786 […]

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New Delhi, March 2 . As part of the social development of the nation, the Government e-Marketplace (GEM) has enabled startups to complete orders worth Rs 35,950 crore. Official information about this was given on Sunday.

Women entrepreneurs account for 8 per cent of the total seller base on GeM, with a total of 1,77,786 enterprise-verified women micro and small enterprises (MSEs) registered on the GeM portal, completing orders worth a total of Rs 46,615 crore.

According to the Ministry of Commerce and Industry, the latest figures reflect significant activity in the market, which exhibits a strong ecosystem with 162,985 primary buyers, 228,754 secondary buyers and a diverse range of 11,006 product categories and 332 service categories.

In the last fiscal, the order volume reached 62,86,543 with an order value of Rs 4,03,305 crore.

Continuing its momentum, 61,23,691 orders worth Rs 4,52,594 crore have already been registered in the current fiscal.

The ministry said 37.87 per cent of the total order value has been placed with micro and small enterprises (MSEs), underlining GeM’s role in empowering local businesses and promoting inclusive economic growth.

The ‘Swayat’ portal is committed to enhance the ease of doing business and provide direct market linkages for annual public procurement to startups, women entrepreneurs, micro and small enterprises (MSEs), self-help groups (SHGs) and youth, especially from backward sections of the society.

‘Startup Runway 2.0’ is an opportunity for startups to showcase their innovative products and services to government buyers and participate in public procurement.

The government e-marketplace has created a dedicated marketplace category for all startups to list their products and services, irrespective of their DPIIT-certification.

The platform offers startups all the marketplace features that are available to regular sellers and aims to promote “Make in India” procurement from Indian startups.

 

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India will be at the forefront of the AI ​​era: Piyush Goyal https://janmatsamachar.com/india-will-be-at-the-forefront-of-the-ai-era-piyush-goyal/ Sun, 02 Mar 2025 09:40:26 +0000 https://janmatsamachar.com/?p=20248 Mumbai, March 2  Commerce and Industry Minister Piyush Goyal said that the Modi government’s strong policies will help entrepreneurs and innovators take advantage of the new digital wave, putting India at the forefront of the AI ​​era. In his interaction at Mumbai Tech Week 2025, the Union Minister further said, “I am confident that with […]

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Mumbai, March 2  Commerce and Industry Minister Piyush Goyal said that the Modi government’s strong policies will help entrepreneurs and innovators take advantage of the new digital wave, putting India at the forefront of the AI ​​era.

In his interaction at Mumbai Tech Week 2025, the Union Minister further said, “I am confident that with the investments being made in the necessary infrastructure, capital and skill availability, Mumbai can become the tech hub of India.”

He said that India’s economic capital has all the necessary elements to become a major tech hub.

The Union Minister posted on ‘X’, “Had a wonderful conversation at Mumbai Tech Week 2025, where I had the opportunity to speak extensively about India’s advantage in adopting AI and contributing to its ethical use.”

India is establishing a leadership position in the adoption of Artificial Intelligence. The country recorded 3 billion AI-related app downloads in 2024, far ahead of the US’ 1.5 billion and China’s 1.3 billion.

According to Microsoft CEO Satya Nadella, this shows that India is the ‘use case capital of AI’, meaning the country is not just talking about AI or doing research in AI; it is actually implementing it at scale.

At the AI ​​Action Summit in Paris last month, Prime Minister Narendra Modi talked about how AI is not just a national issue but a global responsibility.

He stressed that it is important to have an AI that is ethical, inclusive and trustworthy.

In his address, PM Modi said the world was at the beginning of the AI ​​era, where this technology was rapidly writing the code for humanity and reshaping “our politics, economy, security and society”.

Emphasising that AI is very different from other technological milestones in human history in terms of impact, he called for collective global efforts to uphold shared values, address risks and establish governance and standards that build trust.

He emphasised that India is ready to share its experiences to ensure that the benefits of AI reach all. PM Modi also announced that India will host the next AI Summit.

 

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Unique innovation needed to achieve target of 500 GW renewable energy capacity: Union minister https://janmatsamachar.com/unique-innovation-needed-to-achieve-target-of-500-gw-renewable-energy-capacity-union-minister/ Sat, 22 Feb 2025 13:02:10 +0000 https://janmatsamachar.com/?p=20122 New Delhi, Feb 22  Union Power Minister Manohar Lal on Saturday told industry stakeholders that there is a need to focus on unique innovation to achieve India’s target of 500 GW renewable energy. Speaking at the ‘Elecrama 2025’ event organised by industry body Indian Electrical and Electronics Manufacturers Association (IEEMA) in Greater Noida, the Union […]

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New Delhi, Feb 22  Union Power Minister Manohar Lal on Saturday told industry stakeholders that there is a need to focus on unique innovation to achieve India’s target of 500 GW renewable energy.

Speaking at the ‘Elecrama 2025’ event organised by industry body Indian Electrical and Electronics Manufacturers Association (IEEMA) in Greater Noida, the Union minister emphasised the importance of the power sector in driving the country’s economic growth.

Lal said in his address that the power sector in India has a great future. We need to focus on innovative ways to increase production.

He said there is a need to develop advanced power electronics, affordable transformers, power converters, smart grid solutions to take advantage of green energy.

According to the Union Minister, a joint effort of the industry and the government is necessary to make this sector the engine of India’s growth.

The Union Minister further said that India is working towards achieving 500 GW of renewable energy capacity by 2030. This target can be achieved if both the industry and the government work together efficiently.

India has increased its renewable energy capacity by 2.81 times to 200 GW since 2014.

Lal further said that during this period India has increased its solar capacity by 38 times to over 100 GW. This shows that the country is rapidly moving forward in the field of renewable energy.

He also emphasized the importance of improving the country’s energy transmission and distribution network and urged industry players to focus on developing high-efficiency equipment such as Gas Insulated Switchgear (GIS) substations to modernize the grid.

The Union minister further said, “E-mobility is a huge opportunity, and the country needs more battery-swapping stations, fast chargers and vehicle-to-grid systems to reduce emissions and support clean transportation.”

The government will provide full support to investors and they should take advantage of various schemes and initiatives designed to promote the sector.

 

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Petroleum prices in India are the lowest in the world: Union Minister https://janmatsamachar.com/petroleum-prices-in-india-are-the-lowest-in-the-world-union-minister/ Sat, 22 Feb 2025 10:33:06 +0000 https://janmatsamachar.com/?p=20118 New Delhi, Feb 22  Union Petroleum Minister Hardeep Singh Puri said that petroleum prices in India are the lowest in the world. Addressing a press conference in Vijayawada, Andhra Pradesh, he said that fuel prices in the country have come down in real terms in the last few years. Speaking on global oil supply, Puri […]

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New Delhi, Feb 22  Union Petroleum Minister Hardeep Singh Puri said that petroleum prices in India are the lowest in the world.

Addressing a press conference in Vijayawada, Andhra Pradesh, he said that fuel prices in the country have come down in real terms in the last few years.

Speaking on global oil supply, Puri said that now more oil is coming from countries like the US, Brazil, Guyana, Suriname and Canada.

The Union Minister further said that there is no shortage of crude oil and at present India is getting supplies from 40 countries. Earlier their number was 27. If more countries want to join it, we will welcome them. This will help in keeping oil prices low.

The Union Minister said, “Petroleum prices have come down in the last three years.”

He further said that petrol prices have come down by -0.67 percent. However, diesel prices have increased by 1.15 percent.

Puri clarified that the government has not got any financial benefit from the fall in the price of petroleum. Rather, the government has given relief of Rs 22,000 crore to the oil companies.

Highlighting the economic progress made during the tenure of Prime Minister Narendra Modi, Puri said that in 2014, India was the 10th largest economy as well as among the five weakest economies. At that time the country was more dependent on foreign investment for development.

Puri further said that the Indian economy has improved a lot during PM Modi’s tenure and the country has become the fourth largest economy in the world. Soon India will become a $ 4 trillion economy.

The Fitch Ratings report said that the demand for petroleum products in India may increase by three to four percent in the current financial year.

The report said that the refinery margins of Indian oil marketing companies may fall in FY25. This is because of excess supply and the benefits of fluctuations in crude oil are diminishing.

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