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India offers $11 billion to develop Iranian gas field

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India offers $11 billion to develop Iranian gas field

[vc_row][vc_column][vc_column_text]ONGC to lead the consortium

With lifting of UN sanctions  following Iran’s compliance with conditions stipulated for its nuclear deal with six world powers, India has expressed its willingness to spend 11 billion dollars to develop giant Iranian natural gas field and build infrastructure to export fuel as long as Tehran guarantees “reasonable return”.

According to Bloomberg, ONGC Videsh Ltd has offered to invest as much as six billion dollars on the Farzad-B field and spend remaining amount to build liquefied natural gas (LNG) export facility.

Narendra Kumar, Managing Director of the overseas investment unit of ONGC shared this information. The group is seeking a return of about 18 percent and Indian companies are willing to buy all the gas exported from the project. He was quoted as saying, “We have told the Iranian authorities very clearly that some basic returns are necessary.”

India is presently the fourth largest LNG buyer and seeks to sign a long-term deal to meet the growing demand. It found an opportunity in Iran, now emerging out of its isolation with gradual lifting of UN sanctions after signing of nuclear deal. The two countries were supposed to conclude a deal in February this year for developing the gas field which India believes holds 19 trillion cubic feet of gas reserves. India has been trying to secure development rights to the Farzad-B gas field since 2009.

ONGC Videsh and Indian Oil each own 40 percent interest in the Farsi block that holds Farzad-B field, while Oil India has 20 percent share.

Prime Minister Narendra Modi, during his Tehran visit in May last year, had signed a historic deal with Iranian President Hassan Rouhani and Afghan President Ashraf Ghani to develop the strategic Iranian port of Chabahar. This will directly connect India to Afghanistan and reach to Central Asian countries and Europe through north-south business corridor.

India-Iran bilateral trade during the fiscal 2014-15 was 13.3 billion dollars. India imported 8.89 billion dollars worth of goods mainly crude oil and exported commodities worth 4.17 billion dollars.[/vc_column_text][/vc_column][/vc_row]

India News

BJP, AIADMK walk out of Tamil Nadu assembly over budget and rupee symbol controversy

Tamil Nadu’s BJP and AIADMK MLAs walked out of the Assembly, protesting the DMK’s budget, rupee symbol swap, and alleged TASMAC scam, intensifying political tensions ahead of the 2025 elections.

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Tamil Nadu Assembly during budget session

The Bharatiya Janata Party (BJP) and the All India Anna Dravida Munnetra Kazhagam (AIADMK) staged a walkout from the Tamil Nadu Assembly on Friday as the state’s 2025-26 budget was being presented. The opposition parties accused the ruling Dravida Munnetra Kazhagam (DMK) government of presenting an unproductive budget while also protesting the controversial rupee symbol swap and allegations of corruption in the state-run liquor agency, TASMAC.

BJP Calls Budget a ‘Cover-Up’

BJP’s Tamil Nadu unit chief, K Annamalai, termed the budget an “eye-washing exercise” and criticized the government for not addressing key concerns. “Our four MLAs walked out for a simple reason—the whole budget is an eye-wash. There is nothing productive about it,” Annamalai said.

The walkout highlights the growing tension between the DMK and opposition parties, particularly as the state gears up for next year’s Assembly elections. Tamil Nadu has traditionally been resistant to BJP’s nationalist politics, making the upcoming polls a critical test for the party.

Re-Ru Swap Sparks Controversy

The budget presentation also reignited the ‘Re-Ru’ symbol controversy, with the BJP strongly opposing the replacement of the rupee symbol (Re) in the budget logo with the Tamil letter (Ru), which is commonly used to denote currency in the state.

Annamalai accused the DMK of creating unnecessary division. “The Tamil Nadu government wanted to change the rupee symbol and created so much ruckus,” he stated. Union Finance Minister Nirmala Sitharaman also slammed the change, calling it a “secessionist move” that signals a “dangerous mindset.”

The DMK, however, defended the decision. Party leader Saravanan Annadurai dismissed the controversy, stating, “There is nothing illegal… This is not a ‘showdown’. We prioritize Tamil, and that is why we went with this.”

Liquor Scam Allegations

Apart from the rupee symbol row, the BJP and AIADMK also targeted the DMK over alleged financial irregularities in TASMAC, the state-run liquor agency. BJP MLA Vanathi Srinivasan cited an Enforcement Directorate (ED) report that flagged multiple irregularities and unaccounted cash worth Rs 1,000 crore.

“Our walkout is on two issues—the first is the ED’s findings of financial irregularities in TASMAC, and the second is the disrespect shown to the rupee symbol,” Srinivasan said.

AIADMK’s Position

The AIADMK, which has been cautious in its stance on the ‘Hindi imposition’ debate, has been more vocal in attacking the DMK over the alleged liquor scam. Party leader and former Chief Minister E Palaniswami led a walkout of over 60 AIADMK MLAs, demanding the immediate resignation of the DMK government over the allegations.

The opposition parties are drawing parallels between the Tamil Nadu TASMAC scam and the Delhi excise policy case, which led to the BJP’s resurgence in the national capital.

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Shiv Sena leader shot dead in Punjab’s Moga after being chased on bike

Shiv Sena leader Mangat Rai Manga was fatally shot in Punjab’s Moga after being chased on a bike. A 12-year-old boy was also injured. Police have initiated an investigation.

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Shiv Sena leader Mangat Rai Manga shot dead in Punjab’s Moga

In a shocking incident, a district president of a Shiv Sena faction, Mangat Rai Manga, was shot dead in Punjab’s Moga on Thursday night. The attack also left a 12-year-old boy injured, police confirmed on Friday.

Attack on Mangat Rai Manga

The incident took place around 10 pm when Manga had gone to buy milk. According to reports, three unidentified assailants opened fire at him, but the bullet missed and instead hit a young boy nearby. Sensing danger, Manga tried to escape on his two-wheeler but was pursued by the attackers. During the chase, they fired again, fatally hitting him before fleeing the scene.

Medical Response and Investigation

Police rushed Manga to the hospital, but doctors declared him ‘brought dead.’ Meanwhile, the injured child was first admitted to Moga Civil Hospital and later shifted to another medical facility for better treatment.

Authorities are currently investigating the case and verifying which faction of Shiv Sena Manga was associated with.

Reactions and Parallel Incidents

Joginder Sharma, national president of right-wing group Vishwa Hindu Shakti, expressed grief over the killing. “We got to know that some miscreants shot Manga dead. As soon as we got the information, we reached the hospital,” he said.

Manga’s daughter also demanded justice, stating that her father left home at 8 pm and was later informed at 11 pm about his death.

In another violent incident the same night, three motorcycle-borne attackers entered a salon in Bagiana Basti and opened fire on the owner, Devender Kumar. One bullet struck Kumar in the leg, after which he was taken to Moga Civil Hospital and later referred to another facility.

Police Investigation

DSP City Ravinder Singh confirmed that two shooting incidents took place on Thursday night—one at the salon and another on Stadium Road, where Manga was killed. “Manga’s body has been kept in the mortuary, and an investigation is underway,” he said.

Police are currently searching for the assailants and analyzing possible motives behind both shootings.

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PM Modi extends Holi greetings, calls festival a symbol of unity and enthusiasm

PM Modi, President Murmu, and Rajnath Singh extend Holi wishes, emphasizing unity, cultural richness, and the joy of the festival.

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PM Modi, President Murmu extend Holi greetings, emphasize unity

As India immerses itself in the vibrant hues of Holi, Prime Minister Narendra Modi extended his heartfelt greetings, emphasizing the festival’s role in strengthening unity and bringing new energy to people’s lives.

“I wish you all a very Happy Holi. This festival filled with joy and happiness will infuse new enthusiasm and energy in everyone’s life and will also deepen the colours of unity among the countrymen,” PM Modi shared on X.

President Murmu and Rajnath Singh share warm wishes

President Droupadi Murmu also greeted citizens on the auspicious occasion, highlighting Holi’s significance as a festival of unity and cultural heritage.

“Heartiest greetings to all countrymen on the auspicious occasion of Holi, the festival of colours. This festival of joy gives the message of unity, love, and harmony. This festival is also a symbol of India’s precious cultural heritage,” President Murmu posted on X.

Defence Minister Rajnath Singh also extended his wishes, praying for happiness and good health for all.

“Heartiest greetings to all of you on the auspicious festival of Holi. May this festival fill your life with the colours of happiness and good health,” he said.

UP CM Yogi Adityanath celebrates at Gorakhnath Temple

Uttar Pradesh Chief Minister Yogi Adityanath marked the festival by applying gulal to cows and calves at Gorakhnath Temple, adding a traditional touch to the celebrations.

Across Uttar Pradesh, Holi celebrations have begun with immense enthusiasm. In Aligarh, people embraced each other and played with colors, embodying the festival’s spirit of togetherness.

Holi festivities bring joy and unity across India

The festival, known for its vibrant colors and joyous atmosphere, saw people across the country applying gulaal, dancing to folk music, and celebrating with friends and family. In Sambhal, processions were carried out before 2:30 PM, in accordance with arrangements for Jumma Namaz. Superintendent of Police KK Bishnoi assured that police deployment was in place to ensure a peaceful celebration.

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