India Roundup: Tougher U.S. sanctions, vision for AI, world's largest religious gathering

Tougher U.S. Sanctions to Curb Russian Oil Supply to China and India

The U.S. government has imposed stricter sanctions on Russian oil producers and vessels, targeting companies like Gazprom Neft and Surgutneftegas, along with 183 ships involved in transporting Russian oil. This move aims to cut off funding for Russia's war in Ukraine and is expected to significantly reduce Russia's crude oil supply to its major customers, China and India, US News reports. As a result, both countries will likely turn to alternative sources for oil, mainly from the Middle East, Africa, and the Americas, which will increase oil prices and freight costs. Notably, the newly sanctioned vessels previously transported about 530 million barrels of Russian crude, predominantly to China and India. The sanctions may also affect the pricing of Russian oil, leading to discounts below $60 per barrel to utilise Western insurance.

India to showcase vision for AI, sustainability, and global leadership at WEF 2025

India will showcase its vision for artificial intelligence (AI), sustainability, and global leadership at the 55th World Economic Forum (WEF) Annual Meeting in Davos from January 20-24, 2025. The theme "Collaboration for the Intelligent Age" aligns with India's focus on technology, renewable energy, and global partnerships. According to India News Network, the delegation, led by Union Minister Ashwini Vaishnaw and representatives from six states, will participate in discussions on economic transformation, innovation, skill development, and sustainability. Key sessions will address sustainable investment opportunities in AI, infrastructure development, global partnerships, and India's role as a hub for chemical manufacturing.

India calls on Bangladesh to implement existing border management understandings

India urged Bangladesh to implement existing border management agreements and adopt a cooperative approach to address escalating tensions along their international boundary. As reported by Hindustan Times, Indian High Commissioner Pranay Verma conveyed this message during a meeting with Bangladesh’s Foreign Secretary Mohammad Jashim Uddin in Dhaka. Recent tensions arose after the Indian Border Security Force (BSF) acted against Bangladeshi smugglers, leading to claims of unauthorised fencing by India, which Dhaka contends violates bilateral agreements. Uddin expressed concern over BSF's actions, including the unauthorised construction of barbed wire and incidents of border killings, urging dialogue to resolve issues peacefully.

Air India aims to double international transit traffic in three years

Air India aims to double its international transit traffic, currently at 10% of its total, within three years, according to Chief Commercial Officer Nipun Aggarwal. Currently, less than 1% of transit traffic over India is handled in Delhi, which presents significant growth potential. The airline plans to enhance its connectivity to Southeast Asia and establish stronger ties in the Europe-Australia corridor. Aggarwal expects the share of international-to-international (I2I) traffic to rise to 15-20% in three years. Air India's revenue from premium cabins has increased significantly, leading to plans for more front cabin seats on widebody planes. The airline does not currently seek to wet lease planes, favouring dry leasing instead, and remains focused on strengthening its hubs in India to capture more international traffic, Business Standard reports.

India ready for Maha Kumbh Mela, world's largest religious gathering

India is preparing to host the Maha Kumbh Mela, the world's largest religious gathering, in Prayagraj, Uttar Pradesh, from January 13 to February 26. Over 400 million pilgrims are expected to participate in rituals, prayers, and holy baths at the confluence of the Ganga, Yamuna, and mythical Saraswati rivers. The festival, rooted in Hindu mythology, occurs every 12 years and is considered more auspicious in its "maha" form, attracting the largest crowds. Key rituals include daily sacred bathing, especially on auspicious days like January 29 (Mauni Amavasya) and the culmination on February 26 (Maha Shivaratri). Preparations for the event are massive, including the creation of a temporary city with 150,000 tents, extensive amenities, and special transportation via 98 extra trains. Security is a priority, with 40,000 police personnel and advanced AI surveillance systems deployed, supported by a budget of 64 billion rupees ($765 million), NDTV World reports.