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Imports

India's crude oil import bill drops 16% but import dependency hits new high

India's crude oil import bill drops 16% but import dependency hits new high

Wed, Apr 17, 2024

India imported 232.5 million tonnes of crude oil, which is refined into fuels like petrol and diesel, in the 2023-24 fiscal (April 2023 to March 2024), almost the same as in the previous financial year. But it paid USD 132.4 billion for the imports in FY24 as against USD 157.5 billion import bill in 2022-23, oil ministry's Petroleum Planning and Analysis Cell (PPAC) data showed.

India's merchandise exports dip marginally in March, FY24 shipments at USD 437 billion

India's merchandise exports dip marginally in March, FY24 shipments at USD 437 billion

Mon, Apr 15, 2024

The trade deficit or gap between imports and exports worked to be USD 240.17 billion.

Melon seeds import permitted without restrictions from May 1 to June 30 on actual user basis

Melon seeds import permitted without restrictions from May 1 to June 30 on actual user basis

Tue, Apr 09, 2024

The government has said imports of melon seeds are permitted without any restrictions from May 1 to June 30 on an actual user basis to eligible processors of this commodity only, according to a notification.

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India's exports rise 6.21% to USD 33.57 billion in October: Government data

India's exports rise 6.21% to USD 33.57 billion in October: Government data

Wed, Nov 15, 2023

India's exports rose by 6.21 per cent to USD 33.57 billion in October this year, as against USD 31.6 billion a year-ago, government data showed on Wednesday.

India slashes solar imports from China as domestic manufacturing thrives

India slashes solar imports from China as domestic manufacturing thrives

Thu, Sep 14, 2023

Year-on-year, India's solar module imports from China plummeted from 9.8 GW in the first half of 2022 to a mere 2.3 GW during the corresponding period in 2023, the report by global energy think tank Ember said.

Government imposes import curbs on laptops, computers for security reasons; to boost domestic manufacturing

Government imposes import curbs on laptops, computers for security reasons; to boost domestic manufacturing

Thu, Aug 03, 2023

The government on Thursday imposed import restrictions on laptops, tablets, and certain types of computers with immediate effect for security reasons and the need to promote domestic manufacturing.

Aapki Khabar Aapka Fayda: What is the truth about children's food products?

Aapki Khabar Aapka Fayda: What is the truth about children's food products?

Fri, Jul 07, 2023

Food Products: Fraud is taking place in the advertisement of food products. For many decades, children in India are struggling with problems like malnutrition, obesity, anemia and dwarfism. Food advertisements are proving fatal for children.

5 most searched oil & gas stocks in India

5 most searched oil & gas stocks in India

Fri, Jul 07, 2023

India is among the biggest importers of oil and it imports nearly 85% of its oil requirement. Hence, the Indian economy is vulnerable to changes in oil prices. Even gas prices are subject to changes in prices in international markets.

Meteoric rise: India's imports from Russia jumped about five times during this period

Meteoric rise: India's imports from Russia jumped about five times during this period

Wed, Mar 15, 2023

The commerce ministry says that a sharp spike in imports from Russia is due to increased inbound shipments of crude oil

Budget 2023: What is Custom Duty? Know its types | E-payment Gateway

Budget 2023: What is Custom Duty? Know its types | E-payment Gateway

Tue, Jan 24, 2023

Custom Duty: Customs duty is referred to the tax levied on goods when they are transported across international borders.

India's trade worries grow as exports lose steam, imports surge - know what analysts, experts say

India's trade worries grow as exports lose steam, imports surge - know what analysts, experts say

Sun, Sep 04, 2022

On Saturday, the government released preliminary data that showed India's exports fell by 1.15 per cent year-on-year to USD 33 billion in August, while imports rose 36.8 per cent to USD 61.7 billion.

Another measure to facilitate traders, importers! Central Board of Indirect Taxes and Customs (CBIC) allows this

Another measure to facilitate traders, importers! Central Board of Indirect Taxes and Customs (CBIC) allows this

Sun, May 09, 2021

Central Board of Indirect Taxes and Customs (CBIC) has restored the facility for trade to provide an undertaking in lieu of bond for customs clearance of their goods.

5 pc import duty on key component used in TV manufacturing from Oct 1

5 pc import duty on key component used in TV manufacturing from Oct 1

Thu, Oct 01, 2020

Customs duty of 5 per cent has been imposed on import of a key component used in manufacturing of LED/LCD TVs from October 1, a government notification said on Wednesday

India opens dumping probe on Malaysia, Vietnam, Thai copper tube, pipe imports

India opens dumping probe on Malaysia, Vietnam, Thai copper tube, pipe imports

Tue, Sep 29, 2020

India is investigating imports of copper tubes and pipes from Malaysia, Vietnam and Thailand, to determine whether producers in these countries were receiving unfair subsidies, the government said

Nil import of Made-in-China Ganpati idols this year: CAIT

Nil import of Made-in-China Ganpati idols this year: CAIT

Sun, Aug 23, 2020

The Confederation of All India Traders (CAIT) on Saturday said that the import of 'Made-in-China' Ganesh idols has been nil this year.

US raises tariffs on Chinese import for goods worth $200 Bn

US raises tariffs on Chinese import for goods worth $200 Bn

Wed, May 08, 2019

US raises tariffs on Chinese import for goods worth $200 Bn. Watch this video for complete details.

India plays ball with US on imports, set to get steel duty waiver benefit

India plays ball with US on imports, set to get steel duty waiver benefit

Fri, Aug 03, 2018

The Union Ministry of Commerce is looking at delaying the implementation of reciprocal tariffs on US imports as it looks to pave the way for a congenial 2+2 bilateral dialogue in September and get exemption from US tariff on Indian steel and aluminium.

Don't let PNB fraud halt business lending: ASSOCHAM to Arun Jaitley

Don't let PNB fraud halt business lending: ASSOCHAM to Arun Jaitley

Sat, Feb 24, 2018

The industry body said the country can ill-afford cut down on lending at a time when the credit growth was about to recover and the economy was set to grow at a higher pace

Govt should reconsider GST on rough diamonds: GJEPC

Govt should reconsider GST on rough diamonds: GJEPC

Mon, Jun 05, 2017

Gem and Jewellery Export Promotion Council (GJEPC) welcomed the the government's move of keeping GST rate of 3% on gold and jewellery.

India GDP growth to remain flat at 7.1% in FY18: HSBC

India GDP growth to remain flat at 7.1% in FY18: HSBC

Sun, Jun 04, 2017

India's economic growth is expected to remain flat at 7.1 % in current fiscal as investment is still weak and government spending might not be as high given the fiscal consolidation, says an HSBC report.

Growth in gold, crude oil imports sees three-fold rise in India's trade deficit

Growth in gold, crude oil imports sees three-fold rise in India's trade deficit

Mon, May 15, 2017

While gold imports in India rose three-fold during April, crude oil imports further grew by 30% putting more pressure on out trade deficit.

India's current account deficit widens in October-December: RBI

India's current account deficit widens in October-December: RBI

Thu, Mar 23, 2017

India`s current account deficit widened to $7.9 billion, or 1.4 % of gross domestic product, in the October-December quarter from the same period a year earlier, the Reserve Bank of India (RBI) said in a statement on Thursday.

India’s exports rise over 17%, first double digit growth in two years

India’s exports rise over 17%, first double digit growth in two years

Wed, Mar 15, 2017

Ministry of Commerce and Industry on Wednesday put out India’s foreign trade numbers wherein the country’s exports had grown in double digits for the first time since 2014, as analyst Firat Unlu from The Economist Intelligence Unit pointed out.

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