India will partner with the United Arab Emirates to expand its strategic crude and gas reserves, a key step for the world’s third-largest oil consumer to guard against future supply disruptions.
India has further tightened rules for importing gold into the country, as Prime Minister Narendra Modi steps up efforts to defend the rupee amid the Middle East war.
Prime Minister Narendra Modi has called on Indians to avoid buying gold for at least a year to preserve foreign-exchange reserves, a surprising appeal in a country where the metal plays a vital role in savings, weddings and religious festivals.
Two years ago, Indian Prime Minister Narendra Modi was dealt a humbling blow in national elections, failing to win a majority for the first time since he came to power.
