Archive · 17 Dec 2025
India Balances Oil Ties Amid Global Shifts
Gita Gopinath, a famous economist, said that India has a good chance to make new friends in the oil world instead of just relying on Russia.
She thinks this could help India get along better with the United States.
She said this when she was speaking at a big meeting about India's economy.
Right now, oil costs about $60 for a barrel, which makes it a good time for India to make these changes.
India is also trying to balance its relationships with both the US and Russia, focusing on its own interests.
Experts say India should keep doing this and also try to make more trade deals with other countries, especially those that are still developing.
Gita Gopinath suggested India diversify its oil partnerships beyond Russia to strengthen US relations.
India is balancing its relationships with both the US and Russia, focusing on its own interests.
India's trade policy is shifting towards diversification, entering into FTAs with multiple partners.
A trade deal with the US is possible if India handles it strategically, according to Fareed Zakaria.
India should focus on developing closer partnerships with the developing world, especially in Africa and Central Asia.
- Who
- Gita Gopinath, Biswajit Dhar, Fareed Zakaria
- What
- India's strategic autonomy in oil and trade relations with the US and Russia
- When
- 2025
- Where
- India, US, Russia
- Why
- To balance economic and diplomatic interests amid global shifts
- Speaker
- Gita Gopinath, Professor of Economics at Harvard University and former Deputy Managing Director of the IMF
- Event
- 11th edition of the Times Network India Economic Conclave (IEC 2025)
- Oil Prices
- $60 per barrel
- Opportunity
- Diversify energy partnerships beyond Russia
- Potential Benefit
- Recalibrate relations with the United States
- Trade Expert
- Biswajit Dhar
- Foreign Affairs Expert
- Fareed Zakaria
- US President
- Donald Trump
- Russian President
- Vladimir Putin
