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India’s Inflation Rises Over 6% in February – Russia Hopes for More Collaboration in India

India’s Ministry of Statistics has announced that the Consumer Price Index (CPI) rose 6.07% year-on-year in February.

The CPI was above expectations of 5.93% and above the Reserve Bank of India’s target of 4% for the second month in a row.

Russia hopes to persuade India to invest more in oil and gas

Russia urges India to invest more in the country’s oil and gas sector and also expressed a desire to expand the distribution network of Russian companies in India.

According to the report, some Western allies want India to condemn Russia’s invasion of Ukraine. India, on the other hand, abstained from voting against Russia at the United Nations Security Council (UNSC) meeting.

Alexander Nowak, Deputy Prime Minister of the Russian Federation said, “Russia’s exports of oil and petroleum products to India reach $1 billion and there is a chance that this number will increase clearly.”

In addition, Nowak said that Russia expects the two countries to continue their cooperation in the field of nuclear energy and build a new unit at the Kudankulam nuclear power plant in southern India.

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