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Why the historic Iran nuclear deal could be good for India

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Why the historic Iran nuclear deal could be good for India Empty Why the historic Iran nuclear deal could be good for India

Post by confuzzled dude Tue Jul 14, 2015 6:09 pm

After 23 months of negotiations Iran finally entered into a historic nuclear deal with six world powers that paves the way for ending sanctions imposed by the US and Europe and also opens business prospects for the various countries including India in Iran. This is also expected to further lift the supply of crude oil in the global market that in turn will keep the oil prices lower.

* India being a large importer of crude oil and imports around 80 per cent of its energy requirements, a dip in crude prices will not only positively impact the current account deficit (CAD) but also keep the inflation under control.

* In anticipation of the deal and its likely impact on crude prices the share prices of Indian public sector oil marketing companies witnessed a jump in its share prices. While the shares of Indian Oil Corporation were up by 3.4 per cent on Tuesday, that of HPCL and BPCL rose by 3.3 per cent and 2 per cent respectively.

* Also, the easing of sanctions would mean India can freely buy crude oil from Iran. Sanctions had meant that New Delhi could import no more than 9 million tonnes of oil this fiscal, the same volume it had shipped from Iran in 2013-15.
http://indianexpress.com/article/india/india-others/why-the-historic-iran-nuclear-deal-could-be-good-for-india/

confuzzled dude

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