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India will consider backing the US-proposed price cap on Russian crude only if supplies from countries such as Venezuela and Iran are assured.
The world’s fifth largest economy has improved over the years in terms of ease of doing business as bureaucratic red tape has lessened and many reforms such as the goods and services tax has made compliance easier.
Despite being a seasonally weak period, August payments data from the Reserve Bank of India (RBI) set new records, pointing to a strong revival in consumption.
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