NEW DELHI: India saved roughly $2.7 billion by importing discounted Russian oil in the first nine months of this year, according to calculations based on government data, helping it support economic growth and easing pressure on its trade deficit. Crude oil accounts for about a third of India’s overall imports by value. The world’s third-biggest … Read more
New Delhi: The diplomatic row with Canada is unlikely to impact lentil (masoor) requirements as India has diversified its imports of the pulse and is no longer heavily dependent on one country, said senior government officials and trade bodies. Additionally, India fully exempted lentils imported from the US from any sort of customs duty recently. … Read more
Prime Minister Narendra Modi will interact with heads of Indian Missions abroad along with stakeholders of trade and commerce on Friday with a view to expand export potential and increase the country’s share in global trade, an official statement said. It added that exports have a huge employment generation potential, especially for MSMEs and labour-intensive … Read more
Led by petroleum products, gems and jewellery, and engineering goods, India’s exports rose 47.9% on-year to a record $35.17 billion in July. Preliminary data released by the government showed that India’s merchandise exports in July were an increase of 34% over July 2019. Imports were at the second highest at $46.4 billion, leaving a wider … Read more
India’s exports in April jumped nearly three-folds to USD 30.21 billion from USD 10.17 billion in the same month last year, according to commerce ministry’s preliminary data released on Sunday. Imports too rose to USD 45.45 billion last month as against USD 17.09 billion in April 2020. “India is thus a net importer in April … Read more