India secures 5-year DAP fertiliser supply deal with Saudi Arabia amid China curbs (The Economic Times)
India has secured a long-term supply of 3.1 million metric tonnes (MMT) of DAP fertiliser annually from Saudi Arabia’s Maaden under a five-year agreement signed by IPL, KRIBHCO, and CIL, addressing a critical shortage caused by China’s export restrictions. The deal, which can be extended by another five years, is timely as DAP is essential for early-stage crop growth during the kharif season, and disruptions could impact yields. With DAP imports from Saudi Arabia already rising 17% year-on-year to 1.905 MMT in FY25, the agreement strengthens India’s fertiliser security and opens avenues for mutual investments in the fertiliser sector.
India’s Russian oil imports hit 11-month high in June (The Economic Times)
India’s crude oil imports from Russia surged to a 12-month high of 2.08 million barrels per day in June 2025, driven by geopolitical tensions in West Asia and continued discounts from Russian suppliers, now making up about 40% of India’s total crude intake. While India’s overall crude imports dipped 6% last month, Russian volumes rose 8%, with three major Indian refineries—also exporters to G7+ nations—accounting for the bulk. Though India is diversifying sources—with US crude imports up 50% and Brazilian oil rising 80% in H1 2025—Russia remained the top supplier, followed by Iraq (18.5%), Saudi Arabia (12.1%), and the UAE (10.2%).
Vizhinjam port eyes 40% EXIM share in total cargo volumes over 3-5 years (Financial Express)
Vizhinjam International Seaport, India’s first deepwater transshipment port, has begun scaling up for direct EXIM operations, expecting a 10–15% EXIM cargo share in its first year—higher than the initially projected 10%. Located just 10 nautical miles off key global shipping routes, the port has already handled 8.4 lakh TEUs across 395 vessels since commercial operations began in December 2024, and plans are underway to boost capacity from 1.5 million to 4.5 million TEUs by 2028 through a ₹10,000 crore expansion. With improved road and rail connectivity in progress and major exporters like Tiruppur’s textile firms, Volvo, and Marks & Spencer showing interest, Vizhinjam is poised to reduce India’s heavy reliance on foreign transshipment hubs like Colombo and Dubai.
Experts sound caution on trade talks after Trump’s 30% tariff plan for EU (Financial Express)
As India resumes talks with the US for a bilateral trade agreement, trade experts warn New Delhi not to compromise its own economic interests, especially after President Trump’s unilateral imposition of 30–35% tariffs on key US allies like the EU, Mexico, and Canada. The US, lacking Fast Track Trade Authority, is demanding partner countries lower their tariffs without offering reciprocal cuts—along with guaranteed purchases of American goods such as agriculture, oil, and aircraft. With Trump also threatening a 10% tariff on BRICS nations for “anti-American” policies, experts caution that any deal with the US may be unstable and weighted against Indian farmers and industry.
