ZGXT(SZ:000831) Sou Hu Cai Jing·2025-10-21 10:52Core Viewpoint - The article highlights India's defiance against U.S. pressure regarding oil purchases from Russia and its strategic alignment with China, indicating a shift in India's foreign policy amidst U.S.-India tensions [1][3][5]. Group 1: U.S.-India Relations - Recent U.S. tariffs on Indian products have strained relations, with tariffs reaching up to 50%, aimed at forcing India to open its agricultural market and reduce its trade surplus with the U.S. [3] - Despite U.S. pressure, India has increased its daily imports of Russian oil to approximately 1.8 million barrels in early October 2023 [3][5]. - India has committed to not exporting rare earth materials sourced from China to the U.S., reflecting a strategic pivot towards China [3][5]. Group 2: Economic Considerations - India benefits economically from purchasing discounted Russian oil, saving approximately $89 per ton, and is processing this oil into refined products for sale to Europe and the U.S. [5][7]. - The country relies heavily on China for rare earth materials, with imports expected to reach around 870 tons valued at over 3 billion rupees in the 2024-2025 fiscal year [5][7]. Group 3: Geopolitical Strategy - India's traditional policy of strategic autonomy prevents it from fully aligning with any single power, complicating U.S. efforts to have India counterbalance China [7][9]. - The U.S. demands for India to cease Russian oil purchases conflict with India's domestic agricultural interests, particularly concerning the livelihoods of millions of farmers [7][9]. - The article suggests that while there may be limited easing of tensions between the U.S. and India, fundamental disagreements on key issues like agricultural market access and Russian oil procurement will persist [9].