Tag: News

Comprehensive, up-to-date news coverage, aggregated from sources all over the world by EduindexNews.

Know about Dogecoin

 Dogecoin is a name that you’ll recognize even when you’re blindfolded. This cryptocurrency has been continually trending on Reddit and Twitter, making it extremely popular. Even though it was the first “meme coin,” Elon Musk praised it and even accepted it as payment for Tesla. What began as a joke evolved into one of the most obvious ways for bitcoin users to tip creators online, make online purchases, and interact with one another. For more information on bit alpha ai click here.

Dogecoin is not a cryptocurrency that has resulted in technological advances and has yet to achieve anything noteworthy. Dogecoin was designed solely to mock the other altcoins that were available at the time. The money eventually evolved into much more than a simple spoof. 

Photo by RODNAE Productions on Pexels.com

What is the source of all this success? What makes Dogecoin so appealing to investors? Let’s take a closer look into Dogecoin’s antics and understand its history and what makes it unique among cryptocurrencies. There is a wealth of data on Dogecoin available in this article.

  • Historical Perspective 

Jackson Palmer and Billy Markus created the digital currency Dogecoin in December 2013. They had a more casual, optimistic view of the bitcoin market, which is more widespread now. 

In a couple of hours, Markus had invented the token as a parody of Bitcoin, the current leading cryptocurrency. As the crypto community has evolved from its former elitist and aristocratic state, the joke is intended to poke fun at the past. This is why the Dogecoin developers want to create a friendly, welcoming, and lighthearted neighborhood.

At the time, Billy Markus was a software engineer for IBM in Portland, Oregon, and Jackson Palmer was a product manager for Adobe Inc. in Sydney, Australia. Palmer created the token. Once Markus learned about it, he contacted Palmer to ask permission to create the software that runs it. 

Dogecoin initially provided block miners with a randomized payment. That situation changed when Dogecoin implemented a fixed payment to miners of 10,000 DOGE tokens in 2014.

Even if Bitcoin’s price only fluctuated by about $1,000 in 2013, many more individuals started to take cryptocurrencies seriously—possibly a bit too seriously. The Shiba Inu dog meme was chosen as the two artists’ mascot after brainstorming something intriguing together. The internet was intrigued by this unique approach to cryptocurrencies, given its presence. 

  • Its creation

They created the Dogecoin cryptocurrency using the Scrypt-based Proof-of-Work (PoW) consensus algorithm employed by Luckycoin. PoW is a technique for determining who updates transactions on a blockchain network, and it is often tied to the computational power miners or nodes contributing to transaction validation. 

Although Luckycoin (LKY) was an innovative open-source P2P money that used cutting-edge cryptographic techniques for security, it has now become obsolete. As with Litecoin, Luckycoin relied heavily on that cryptocurrency’s codebase. 

For online payments, Charlie Lee, a former Google developer, launched Litecoin (LTC) in 2011.

  • Its Popularity

This “meme coin” sparked a flurry of interest throughout the internet and now boasts one of the world’s largest crypto communities. It is regarded as a welcoming and beginner-friendly coin and is also well-known for its charitable contributions and support of numerous other worthy causes.

Shibes are members of the Dogecoin community. They have their language, which you must see for yourself to understand. In general, the community is most interested in having a good time. What a blast! (Shibe dialect)Since Dogecoin has grown in popularity, let’s consider what makes it tick.

  • Its Features

Dogecoin, like practically every other cryptocurrency, is built on blockchain technology. The blockchain is a massive database that maintains transaction information, known as a public ledger. Miners must solve a cryptographic challenge to validate transactions and receive rewards.

After that, every transaction you perform using Dogecoin is recorded on the Dogecoin blockchain network. It’s worth noting that the blockchain isn’t stored on a single hard disc or a single central server; instead, it’s distributed across thousands of computers known as nodes. This is what makes DCNs so unique and desirable. They are not centrally located but rather scattered around the world.

Conclusion

The fact that Dogecoin is the newest cryptocurrency is common knowledge. It has not yet attained a level of acceptability that constitutes a critical mass. Even still, business magnates like Elon Musk have hailed the concept. 

If a person of such prominence and accomplishment can see the potential in this novel monetary system, it is destined for greatness. Let’s wait and see whether it gains traction in the future since, right now, it’s not very popular. 

Top Reasons to hoard bitcoins right now

 As per bitcoin’s history in the past years, it provided a 59% return in the year of 2020, a 60% return in the year of 2021, and then in 2022, there was a decline of 67%. Still, a question occurs in the crypto investors’ minds the bitcoin worth it to hoard or not? Learn more profit edge Application click here

Photo by RODNAE Productions on Pexels.com

Some experts still insist on hoarding bitcoin because huge profits await investors in the upcoming years. Let’s dive into it. Does bitcoin still have the ability to give good returns or not? 

Rising Trend of Bitcoin

Major tech and non-tech firms are rapidly increasing the usage of bitcoin in their expenses, such as bonuses to the employee or allowing customers to pay in bitcoins. For example, in recent times, Tesla founder Elon Musk created a sensation in the bitcoin price when he announced, “Tesla would accept the bitcoin as the payment of its electric vehicle.”

On the other hand, all over the world, people are considering using bitcoin as a trading currency like the dollar, euro, or any other trading currency presently. Some e-Commerce portals allow the customer to pay via bitcoins or any other cryptocurrency.   

With time, bitcoin will hold its presence worldwide like the usual trading currency. Sooner we are going to witness the situation when bitcoin and cryptocurrency would trade like the usual currency. After that, holding bitcoin will undoubtedly provide some amazing returns in the upcoming years.

The safest asset

As everyone is aware, no centralized enterprise or authority manages bitcoin. So it is one of the safest assets for people. In the world, no government can seize this asset from any of the holders. If an individual holds the assets, no one can seize or still the asset, and exceptions are always there, such as theft of the key or loss of a hot wallet. And one of the best things no one will know is how much an individual possesses. For a bitcoin trade, an investor can use CRYPTOSoft, one of the best of its own. 

Instead of holding the assets in a bank or vault. In any situation, if something happens, then the assets are seized by the holder’s authority or the government. Bitcoin allows the investor to be the authorized person to use the currency whenever required without nobody’s intervention. 

Furthermore, there is a major advantage of keeping some bitcoin in reserve. Why wouldn’t it hold the currency that anyone in any circumstances can seize?

Is it the best time to Buy?

The current rate of the bitcoin is $16987.80 per bitcoin, according to the 6th of December 2022, and in June 2022, it was $31,148.30 per bitcoin. Why not buy bitcoin? Compared to June 2022 and December 2022, an individual gets one bitcoin at almost half price. 

And if an individual considers himself one of those investors who would buy the bitcoin at the bottom price, then this is something like I would drive my car when every signal is green. This is an amazing time to buy bitcoin. 

As it is obvious, no one can control the bitcoin rates. However, an individual can prevent the loss. Hence, before buying bitcoin at this time, keep the below-mentioned things in mind: 

  • Only invest the amount which cannot affect life in the situation of loss. 
  • What’s the storage device? Such as a “hot wallet” or “cold wallet”? 

Accessible to move

Let’s look at it this way, suppose an individual is hoarding gold and silver. It would take effort and time. Or maybe it can be theft in the middle of the moving process. But this doesn’t hold true with Bitcoin.

Bitcoin transactions between accounts may be completed in a matter of seconds. A sender needs the receiver’s wallet address, internet connection, smartphone, laptop, or desktop. With one click, the bitcoin would be in another account. 

Conclusion

Hoarding bitcoin at this time is going to provide some huge financial benefits. Due to this, it has declined a lot since June. As per the cryptocurrency expert, it is going to be upward soon. Before bitcoin starts to trend upward, invest something into it. Even many governments from all over the world also hoard bitcoin in their treasures to deal with inflation.

India's first underwater tunnel to be built in West Bengal, expected to start by december 2023.

The first underwater tunnel in India is being built as part of the East-West Metro Corridor’s project, and it will take about 45 seconds for trains to cover the 520-meter stretch. The tunnel that goes under the Hoogly river in West Bengal is being touted as the Indian version of Eurostar’s London-Paris corridor. An estimated cost of Rs 120 crores is being spent on the project.

The tunnel, which is about 2.5 kilometres long, is expected to be commissioned in 2023 following the completion of the section between Sealdah and Esplanade.

The tunnel runs through the Salt Lake Sector V IT hub metro station in the east to Howrah Maidan in the west under the river. The construction of the tunnel has already been completed, and it is expected to be operational in December 2023 following the completion of a 2.5-kilometer section between Sealdah and the Esplanade.

Health experts says the next 40 days will be crucial for India amid covid surge in China.

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There is still no clarity on what is happening in China, with experts raising alarm that the country is witnessing a steep increase in the number of COVID-19 cases due to coronavirus variant BF.7.

The Union Health Ministry has, however, said that the next 40 days will be crucial in India – with the country likely to witness a surge in January.

“In the past, whenever a NBCOVID-19 wave was reported in India, it used to hit us in 30-35 days, starting from East Asia, it used to hit Europe in 10 days, moving towards America and the Pacific region, and then finally hitting India which would normally take 30 days,” a senior health ministry official told media, requesting anonymity.

The official added that the number of deaths and hospitalisations is likely to be low this time, even if India is hit by a COVID wave by the end of January.

Meanwhile, the Ministry is likely to make mandatory, from next week, negative RT-PCR reports for passengers arriving from China, Hong Kong, Singapore, Japan, South Korea and Thailand.

Filling up of ‘air-suvidha’ forms and 72-hour prior RT-PCR testing could be mandatory for arrivals from these countries.

The government has made random coronavirus testing mandatory for two per cent of passengers arriving in each international flight from December 24. Union Health Minister Mansukh Mandaviya is likely to visit the Delhi airport to take stock of testing and screening facilities there.

Amid covid concerns, chinese are turning to black market India made meds.

Residents in China have been scouring the market for generic COVID-19 drugs and India seems to be the answer to their problem. In the recent past, the Chinese authorities have approved two Covid antivirals – Pfizer’s Paxlovid and Azvudine – for the treatment. While China has ran out of the medicine, the Indian market is filled with it and is slowly becoming the next favourite destination.

In the past few months, topics like “anti-Covid Indian generic drugs sold at 1,000 yuan (US$144) per box” has been making the rounds of the Chinese social media. Platforms like Weibo and WeChat are filled with such queries and experts believe that black market deals are being conducted on them.

While the distribution of drugs which are not approved in China is not illegal, there can be penalties imposed on the illegal imports. Even the doctors in China have warned the public against buying drugs on the black market with several patients displaying massive side effects to the medicines.

How the climate adversities hit India in 2022.

The year 2022 saw several extreme weather events all over the world due to climate emergency. These events are expected to increase if the effects of climate change are not mitigated.

Vulnerable countries also geared up this year for a renewed battle over compensation for the growing hazards of global warming from richer countries, also known as loss and damage, at the 27th Conference of Parties (COP27) to the United Nations Framework Convention on Climate Change (UNFCC).

There is more evidence of the worsening impact of global warming on the Indo-Gangetic Plain (IGP) that straddles eastern Pakistan, northern India, southern Nepal and the whole of Bangladesh. 

A loss and damage fund was created at the COP27, focusing on particularly vulnerable countries. But questions remain about who is eligible to receive money and who has to pay it.

Every state and Union territory (UT) reported dengue cases till November 2022. The increasing burden of dengue has often been linked with climate change, among other factors. India recorded 63,280 dengue cases as of September 30, 2022. 

The average global surface temperature January-December 2021 was the sixth highest since global records began in 1880.

Which is the most favourite beach destination for Indians?see report.

A new search report from US-based vacation rental firm Airbnb reveals that for domestic travellers, Kerala is a more popular beach destination than Goa, apart from the hills of Himachal Pradesh and Uttarakhand, as well as the North-Eastern regions.

Under these categories, Airbnb saw over 375 percent increase in searches for Kerala from Q3 2021 to Q3 2022, followed by Goa (almost 275 percent increase in searches) and Pondicherry (over 200 percent increase).

The report, which compared search data from Q3 2021 to Q3 2022, also stated that hill stations of Uttarakhand witnessed over 100 percent increase in searches, while Himachal Pradesh saw over 50 percent rise in the same period.

More importantly, the North Eastern region has proved to be a trending destination among travellers. Airbnb’s search data showed an increase of over 450 percent in searches for stays in Meghalaya, over 400 percent increase in searches for Assam, and almost 300 percent increase in searches for Nagaland from Q3 2021 to Q-3 2022.

After Russia, Sri Lanka to use Indian rupee(INR) for internation trade.

India’s rupee trade settlement mechanism, which was set up by the Reserve Bank of India in July 2022, is attracting interest from more countries apart from Russia.

The mechanism is a means of using rupees instead of dollars and other big currencies for international transactions in order to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in the rupee.

Dollar-strapped Sri Lanka and sanctions-hit Russia will be the first countries to use the Indian rupee trade settlement mechanism.

Sri Lanka has agreed to use Indian rupee (INR) for international trade. It comes days after the Government of India said it is looking at ways to bring countries that are particularly short of dollars into the ambit of Indian rupee trade settlement mechanism. Central Bank of Sri Lanka (CBSL) said it is waiting for RBI’s (Reserve Bank of India) approval to designate Indian rupee as foreign currency of Sri Lanka.

Tajikistan, Cuba, Luxembourg and Sudan have begun talking to India about using the mechanism, reported Reuters, quoting two sources and an official document. It has already been used by Russia following the imposition of sanctions on Moscow over the Ukraine war.

India has jumped from 7th to 3rd global ranking in scientific publications

 India has jumped from 7th to 3rd global ranking in scientific publications. This was disclosed here today by Union Minister for Science & Technology, Dr Jitendra Singh after a review with Union Secretary Department of Science & Technology (DST) Dr S. Chandrasekhar.

Lauding the consistent efforts of India’s scientific fraternity, Dr Jitendra Singh gave all credit to an enabling milieu and freedom of working provided by Prime Minister Narendra Modi. He said, the very fact that such quantum leaps in our scientific pursuits are happening only in the last few years is a testimony to the push given by PM Modi both in terms of the ease of policy as well as his personal indulgence and prioritisation.

Dr Jitendra Singh informed that as per the National Science Foundation (NSF)’s Science & Engineering Indicators 2022 report of the United States, India’s position globally in scientific publications, has improved from 7th position in 2010 to 3rd position in 2020. He also added that India’s scholarly output increased from 60,555 papers in 2010 to 1,49,213 papers in 2020.

Dr Jitendra Singh said, this became possible only because of Prime Minister Narendra Modi, who not only has a natural predilection for science but is also forthcoming in supporting and promoting science and technology based initiatives and projects in the last 8 years. He said, India’s scientific prowess is going to have a major role in the making of “AtmaNirbhar Bharat ”.

Dr Jitendra Singh said, India’s research performance in science and technology has improved significantly over the past few years which is visible through large amount of scientific knowledge in terms of research publications, development of technologies and innovations contributing to overall development.

Dr Jitendra Singh also took pride that India now ranks 3rd in terms of number of PhDs in science and engineering. He was also apprised of the fact that the number of patents granted to Indian scientists at India Patent Office (IPO) during the last three years has also increased from 2511 in 2018-19 to 4003 in 2019-20 and 5629 in 2020-21.

The National Science Foundation is an independent agency of the United States government that supports fundamental research and education in all the non-medical fields of science and engineering.

It may be recalled that as per the Global Innovation Index (GII) 2022 brought out by World Intellectual Property Organization (WIPO), India’s GII ranking has also improved significantly from 81st in 2014 to 40th position in 2022.

Dr Jitendra Singh said, the government has taken several steps to boost the science and technology sector which includes successive increase in allocations for Scientific Departments, incentivizing investment by private sector to increase their share in GERD, improving the ease of doing business in the Science, Technology and Innovation (STI) activities; introducing flexible tools for public procurement; creating avenues for collaborative STI funding through portfolio-based funding mechanisms such as Public-Private-Partnerships and other innovative hybrid funding mechanisms.

A senior official informed that the Department of Science and Technology is likely to get 20 percent more money in the upcoming Union Budget 2023-24 in comparison to last year.

In the last budget, DST received Rs 6,002 Crore, which was 42 percent of the total fund of Rs 14,217 Crore allocated to the Ministry of Science and Technology. DSIR received Rs 5,636 Crore (40%), while DBT got Rs 2,581 Crore (18%).

The Government has allowed corporate sector to make R&D investments under the provision of Corporate Social Responsibility (CSR). Corporates can invest in technology business incubators or contribute in research efforts carried out by institutions and national research laboratories as a part of their CSR. There are specific investment incentives offered such as Location-based tax incentives that enables 100% deductions of profits generated from establishing and doing business in northeastern states of India.

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Good Governance Week 2022, “Prashasan Gaon Ki Ore” a Nationwide Campaign

 3,120 New Services identified by District Collectors across the country will be added for Online Service Delivery during the 5-day “Prashasan Gaon ki Ore campaign” to be inaugurated by Union Minister for Personnel, Public Grievances and Pensions Dr Jitendra Singh tomorrow at Vigyan Bhawan, New Delhi.

During the Preparatory Phase of the Good Governance Week 2022 held from December 10-18, 2022, District Collectors have also identified 81,27,944 applications for Service Delivery to be disposed, along with 19,48,122 Public Grievances to be redressed in State Grievance Portals.

Secretary, DARPG, Shri V.Srinivas informed that  373 Best Good Governance Practices identified for discussion in District Level Workshops on December 23, 2022. He said, 43 Success Stories in Public Grievances will also be shared during the Good Governance Week-2022, “Sushasan Saptah” from 19th to 25th December, 2022.

Prime Minister has extended his greetings and best wishes for the success of the Sushasan Saptah across all Districts and Tehsils of India. In his message the Prime Minister said “It is particularly pleasing to note that this year too, the Prasahsan Gaon ki Ore campaign continues to be a part of Good Governance Week. We have undertaken various citizen centric initiatives including redressal of public grievances, online services, disposal of service delivery applications and good governance practices. Our vision is to expand the outreach of service delivery mechanisms making them more effective.”

The Nation-wide campaign for Redressal of Public Grievances and Improving Service Delivery will be held in all Districts, States and Union Territories of India. Over 700 District Collectors will be participating in the Campaign and officials will be visiting Tehsils and Panchayat Samiti Headquarters.

Dr. Jitendra Singh will be launching the Good Governance Week 2022 portal, www.pgportal.gov.in/GGW22 , a dedicated portal in which District Collectors will be uploading progress along with Good Governance Practices and video clips. The Sushasan Saptah will witness the Nation’s Grievance Redressal Platforms functioning in unison – Grievances received on CPGRAMS will be redressed along with Grievances received on State portals. This is the second time in Amrit Kaal Period, that the Government of India will be conducting a National Campaign at Tehsil level to address Public Grievances and Improving Service Delivery. Prashasan Gaon ki Ore Abhiyaan will create a national movement for good governance that will inspire future generations.

The Annual Report on CPGRAMS for 2022 will be released on this occasion to reflect the progress the Nation has made in Redressal Public Grievances in 2022.

The Preparatory Phase of the Good Governance Week 2022 was held from December 10-18, 2022. District Collectors have identified the following targets on the dedicated portal that will be redressed in the period December 19-25, 2022.

 

Applications Disposed under Service Delivery

81,27,944

Grievances Redressed in State Grievance Portals

19,16,142

Grievances Redressed in CPGRAMS

31,980

Number of New Services added for Online Service Delivery

3120

Best Good Governance Practices

373

Success Stories in Public Grievances

43

 

In the category of Service Delivery applications – Madhya Pradesh Districts have identified a target of 55,72,862 and Punjab Districts have identified a target of 21,96,937. In the category Redressal of Public Grievances, Madhya Pradesh Districts have identified a target of 16,67,295 grievances and Tamil Nadu Districts have identified 1,38,621 grievances for redressal.

A workshop on District Level Innovations will be conducted under the chairmanship of District Collector on December 23, 2022 in every District. The workshop will focus on District level innovations. 373 District Level Innovations have been identified for presentation in the District level workshops on December 23, 2022.  The focus has been on innovations aimed at Digital Transformation of Institutions and Digital Empowerment of Citizens.

The Second Sushasan Saptah will help in furthering Good Governance at every level in India.

 

Russia remains India's top oil supplier for the month of november too.

Russia has for the first time emerged as top oil supplier to India replacing Iraq as refiners last month snapped up oil from Moscow fearing a price cap from Dec. 5 could hit supplies and choke payment avenues, data obtained from trade sources showed.

India’s oil imports from Russia rose for the fifth straight month, totaling 908,000 barrels per day (bpd) in November, up 4% from October, the data showed.

The Group of Seven nations, Australia, and the 27 European Union countries have imposed a price cap of $60 a barrel on Russian seaborne oil from Dec. 5 as the West tries to limit Moscow’s ability to finance its war in Ukraine.

India, which rarely used to buy Russian oil because of costly logistics, has emerged as Russia’s second biggest oil client after China as refiners snap up discounted crude shunned by Western nations since the February invasion of Ukraine.

Higher purchases of Russian oil dragged down Indian imports from the Middle East and member nations of Organization of Petroleum Exporting Countries (OPEC) declined to the lowest ever in November, the data showed.

What is hooch tragedy, which is happening in Bihar recently.

The toll of dead in Bihar’s Chhapra Hooch tragedy has soared to 50, succumbing after consuming spurious liquor in the Saran district. People have died and several others hospitalised in India’s Bihar state after drinking toxic alcohol, authorities and local media said.

The deaths happened mainly in two villages in the impoverished eastern state, where the sale and consumption of liquor were banned in 2016 after women’s groups campaigned against poor workers splurging their meagre incomes on drinking.

Such bans are in force in several Indian states, driving a thriving black market for cheap alcohol made in unregulated backstreet distilleries that kills hundreds of people every year.

Hooch is a commonly used term for poor quality alcohol, derived from Hoochinoo, a native Alaskan tribe that was known to produce very strong liquor. Unlike branded liquor which is produced in factories with sophisticated equipment and rigorous quality control, hooch is made in more crude settings without any quality checks.

All that matters is to produce alcohol that will intoxicate, and hooch surely does that. The only problem is that if prepared incorrectly, it can kill. Importantly, it is near impossible to tell whether hooch is safe to consume before actual consumption.

Amid border tension with China, India tested Agni-V missile.

The test-firing of the missile from the APJ Abdul Kalam Island off Odisha coast came amid India’s lingering border row with China.

The Agni-V project is aimed at boosting India’s nuclear deterrence against China which is known to have missiles like Dongfeng-41 having ranges between 12,000-15,000 km.

Agni-V can bring almost the entire Asia including the northernmost part of China as well as some regions in Europe under its striking range.

While the test was carried out days after the clashes, it had been planned earlier. India had announced its intention to test a long-range missile and issued a NOTAM or Notice to Airmen well before the incident in Arunachal’s Tawang.

Notably, Agni-5 is the most advanced missile in the Agni series with a strike range of over 5000 kms. Apart from Intercontinental Ballistic Missiles (ICBMs) Agni-5, the Indian armoury of the Agni series includes Agni-1 with a 700 km range, Agni-2 with a 2,000 km range, Agni-3 and Agni-4 with a 2500 km to more than 3500km range.

India and Chinese troops clashes on border.

Soldiers from India and China clashed last week along the two countries’ disputed Himalayan border. In 1962, when the countries fought a bloody, high-altitude war over the contested territories, China seized Arunachal Pradesh, which it claims as part of South Tibet, before returning it to Indian control, but the disputed area belongs to and will remain in the integral control of India.

It was the first reported standoff between troops from the two Asian giants since deadly clashes in 2020 strained their already tense relations. 

Both sides were involved with a few soldiers suffering minor injuries. China is yet to comment on the stand off. But Reuters reported an Indian army source saying at least six Indian troops were injured.

“Both sides immediately disengaged from the area,” the Indian army said.

It added that commanders from both sides had held a meeting immediately after “to restore peace and tranquility”.

India’s Defence Minister Rajnath Singh told the parliament on Tuesday that no Indian soldiers had been “hurt or seriously injured” in the clash and that the incident has been “taken up at diplomatic levels”. He added that because of “timely intervention of Indian military commanders, PLA soldiers went back to their positions”.

China and India share a disputed 3,440km (2,100 mile) long de facto border – called the Line of Actual Control, or LAC – which is poorly demarcated. The presence of rivers, lakes and snowcaps means the line can shift. The soldiers on either side – representing two of the world’s largest armies – come face to face at many points.

Russia offers India large ship on lease.

Russia has offered India to lease and build very large crude carriers (VLCC) as insurance on Russian oil. “Traditionally India couldn’t get large quantities of crude from Russia as there weren’t any VLCC’s. However, now with India’s imports from Russia reaching nearly 30 per cent of total requirement, VLCC is the need of the hour.

This can also remove insurance liability on India as after price cap most insurers have backed out from insuring Russian crude,” say sources. This offer was given  when Russian Russian Deputy Prime Minister Alexander Novak met India’s Ambassador to Russia, Pavan Kapoor on December 9th.

In 2021, bilateral trade between Russia, India increased by 46.5 per cent, exceeding $13.5 billion. From January to September 2022 trade reached $20.4 billion.