Russian oil's share in India's crude oil imports drops to 3-qtr low; Middle Eastern oil soars
Dec 23, 2024, at 10:08 pm
New Delhi: India’s crude oil imports in November revealed a significant change, as Middle Eastern oil reached a nine-month high while Russia's share dropped to its lowest in three quarters, Reuters reported, citing ship tracking data from sources.
Centre extends import management system for laptops, IT hardware till Dec 31
Sep 25, 2024, at 11:32 pm
New Delhi: The central government has extended the import management system for laptops and other IT hardware products by three months, now effective until December 31, 2024.
Merchandise exports fall in July 2024 on muted demand for petroleum products
Aug 15, 2024, at 02:42 am
New Delhi: India’s merchandise exports fell after three months in July 2024, down 1.48 percent to $33.98 billion compared to $34.49 in July 2023 on the back of subdued global demand and geopolitical challenges.
Apr 17, 2024, at 06:27 am
New Delhi: India's merchandise exports plummeted by 3% to $437 billion in the previous fiscal year, despite a fourth-quarter uptick.
India's November merchandise deficit narrows by 2.84% YoY to $20.58 billion
Dec 16, 2023, at 03:09 am
New Delhi: After reaching a record high in October, India's merchandise trade deficit contracted to $20.58 billion in November 2023, primarily due to a substantial decline in gold imports, as reported by the commerce ministry on December 15.
Govt to extend free import policy for laptops, tablets, and computers
Sep 23, 2023, at 05:01 am
New Delhi: The Indian government is considering an extension of the free import policy for laptops, tablets, and computers until September 30, 2024, Moneycontrol reported.
Govt imposes 40% duty on onion import
Aug 20, 2023, at 02:48 am
New Delhi: The government has imposed a 40 percent duty on the import of onion till December 31, the Ministry of Finance said on Saturday.
Trade deficit dips to lowest in 1 yr at $17.75 billion; exports, imports shrink
Feb 16, 2023, at 06:04 am
New Delhi/IBNS: The trade deficit in the month of January dipped to the lowest in a year at $17.75 billion, as both merchandise exports and imports dropped for the second consecutive month amid lukewarm external demand and a steep decline in gold imports.
India's crude oil imports jump by 53 pc during Apr-Nov period, shows latest govt data
Dec 17, 2022, at 06:14 am
New Delhi/IBNS: India’s crude oil import grew by 52.58 percent to $146.57 billion during April-November during FY23, according to data shared by the Ministry of Commerce.
RBI allows banks to open 12 'vostro accounts' to facilitate rupee acceptance in international trade
Nov 26, 2022, at 05:04 pm
New Delhi: In a move to facilitate import-export trade in the rupee, the Reserve Bank of India (RBI) permitted banks to open “vostro accounts”.
India's balance of payment may go into $45-50 bn deficit in FY23
Nov 10, 2022, at 05:28 pm
India's balance of payment is expected to be in deficit by $45 -50 billion in FY23 but this deficit can be managed comfortably with foreign exchange reserves at a healthy $531 billion, according to a report in the media.
Centre allows international trade settlements in Indian Rupees
Nov 10, 2022, at 05:12 am
New Delhi: The government has amended the Foreign Trade Policy and Handbook of Procedures to allow for International Trade Settlement in Indian Rupees for invoicing, payment, and settlement of exports/imports, the Ministry of Finance said Wednesday.
India's current account balance once again in deficit over high import bills
Jan 03, 2022, at 05:53 am
New Delhi/IBNS: India has recorded a deficit in its current account balance in July-September 2021 owing to a higher merchandise imports.
Indian exports and imports nosedive in March
Apr 16, 2020, at 12:43 am
New Delhi/ IBNS: Indian exports and imports declined by record volumes in March, as countries across the world sealed their borders to fight the COVID-19 outbreak.