🛢️ Oil sanctions

Good morning. Happy Maha Shivratri to all those celebrating 👏 🧘‍♂️ 

- Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

• 🛢️ Oil sanctions

• 🏦 World Bank boosts India funding—but there’s a catch

• 🗞️ Bite-sized summaries

  • 🏭️ Expanding GCC market

  • 🇮🇳 Zero tolerance for terrorism

• 🧑‍🍳 What else is cookin’?

• 🍿 Entertainment, Entertainment, Entertainment

MARKETS

🇮🇳 India

• Stock market showed mixed results. FMCG and telecom sectors gained, while realty and metals declined. Key gainers included M&M and Bharti Airtel, while Hindalco and Sun Pharma were top losers.

🌍️ International

• U.S. stocks showed mixed results. S&P 500 and Nasdaq declined, while Dow Jones rose. Tech stocks faced pressure due to ongoing chip shortages. Inflation concerns persisted following Fed comments. Retail earnings were mixed, with Home Depot surging but Walmart disappointing. Energy sector gained on rising oil prices. Investors remained cautious about potential interest rate hikes and geopolitical tensions.

OIL

🛢️ Oil sanctions

The United States has imposed sanctions on four Indian companies for allegedly facilitating Iran’s petroleum trade. The move, part of Washington’s broader crackdown on Tehran’s oil exports, could impact India’s energy sector and its diplomatic ties.

The sanctioned firms—Austinship Management Pvt Ltd, BSM Marine LLP, Cosmos Lines Inc, and Flux Maritime LLP—are accused of aiding the transport of Iranian petroleum-related products. As a result, they now face severe restrictions under US law.

This is the second wave of sanctions since a national security directive issued on February 4 intensified pressure on Iran. The US treasury department’s Office of Foreign Assets Control (OFAC) has also sanctioned over 30 individuals and vessels across multiple countries, including the UAE, China, and Hong Kong.

US Treasury Secretary Scott Bessent stated that Iran relies on a covert network of vessels, brokers, and shippers to bypass restrictions and fund destabilizing activities. Washington is determined to use all tools available to curb Iran’s oil trade, warning that entities engaging with Iranian oil face significant risks.

Additionally, the US state department has blacklisted eight entities across India, Iran, Malaysia, Seychelles, and the UAE, along with eight vessels linked to them. The sanctions fall under executive orders 13902 and 13846, reinforcing America’s goal to drive Iran’s oil exports to zero.

Overall: New Delhi has not yet issued an official response, but the sanctions could complicate India’s energy trade policies, especially as it navigates its strategic relationships with both Washington and Tehran.

Read more: Economic Times

WORLD BANK

🏦 World Bank boosts India funding—but there’s a catch

India is set to receive more financial backing from the World Bank in the short to medium term, but there’s a twist—this support won’t last forever. As the country moves toward upper-middle-income status, the World Bank plans to shift its role from a lender to a knowledge partner, offering expertise rather than direct funding.

Speaking at the Madhya Pradesh Global Investors Summit 2025, World Bank Country Director Auguste Tano Kouame reaffirmed India’s position as the bank’s largest client. However, he noted that as India’s economy matures, private sector investments will need to take the lead in driving development.

Madhya Pradesh is emerging as a focal point in this evolving relationship. The state’s push for renewable energy, urban infrastructure, and skills development has caught the World Bank’s attention. With a history of collaboration dating back to 1973, the bank is now looking to scale up its engagement in these sectors, helping India transition from financial aid to strategic expertise.

This shift marks a significant moment for India. While increased funding in the near future will help fuel critical projects, the long game is about self-sufficiency—and ensuring India can stand on its own in the global economy.

The question now is: Will India be ready to take the reins when the funding slows?

Read more: Economic Times

GENERAL OVERVIEW

🗞️ Bite-sized summaries

🏭️ Expanding GCC market - India’s Global Capability Centres (GCCs) are projected to generate $105 billion by 2030, employing 2.8 million people. Currently, over 1,700 GCCs contribute $64.6 billion in revenue, with key hubs in Bengaluru, Hyderabad, Pune, Chennai, Mumbai, and NCR. The sector is evolving from data processing to high-value services in AI, cybersecurity, cloud computing, and semiconductors. With 40% of digital transformation projects tied to GCCs, India is cementing its position as a global tech and innovation hub. A young talent pool, hybrid work models, and industry-academia partnerships are fueling this growth, driving economic expansion and technology-driven solutions.

🇮🇳 Zero tolerance for terrorism - External Affairs Minister S. Jaishankar called for a new multilateral system to address global challenges, criticizing existing structures for their failures. Speaking at the UN Human Rights Council, he reaffirmed India's zero tolerance for terrorism and its commitment to human rights. He highlighted India’s active role in global partnerships, emphasizing fiscal responsibility, transparency, and sustainability. As conflicts make the world more unstable, Jaishankar stressed the need for urgent reforms. He reiterated India’s philosophy of Vasudhaiva Kutumbakam—the world as one family—and its dedication to leading global change while ensuring human rights and development for all.

HEADLINES

🧑‍🍳 What else is cookin’?

What’s happening in India (and around the world 🌍️)

• CBI registers FIR against Godrej Estate Developers, Berkeley Realtech.

• Alpha Alternatives raises Rs 5,500 crore through structured credit fund.

• Railways to run over 350 trains from Prayagraj on Maha Shivaratri.

• US tariffs to hit exports of made in India iPhones, auto parts.

• Days after Modi-Trump meet, US, India start working on joint agenda.

CULTURE

🍿 Entertainment, Entertainment, Entertainment

• NIFFA 2025 opening film Superboys Of Malegaon trailer out: Adarsh Gourav, Vineet Kumar Singh's love letter to cinema.

• John Abraham's upcoming political thriller The Diplomat has announced a new release date - 14/03/2025.