India’s oil imports from Russia hit a record high of 2.1 million bpd in May as discounts widened due to lower demand from China. Some European nations avoided Russian oil after the Ukraine invasion, making Russian oil cheaper than similar grades from the Middle East.
India’s May oil imports: Russia at record high, Saudi lowest in 10-month Read More »
India has reinforced restrictions on specific electronics and IT goods imports, according to a recent Commerce Ministry notification dated May 20. The order, active since 2021, prohibits unregistered and non-compliant products. Measures include random sampling and testing of LED products. The government will allow imports meeting safety standards, while non-compliant goods face re-exportation or destruction.
India reaffirms restrictions on import of certain electronics & IT goods Read More »
According to the Solvent Extractors’ Association of India, which has put out the trade data, said the country harvested a record crop of soybean in Kharif season last year and mustard in Rabi season which encouraged higher crushing and increased availability of meals, both for the domestic consumption and exports.
India’s oilmeal exports start 2024-25 on a weak note, drop 6% in April Read More »
The discussions for review of the ASEAN-India Trade in Goods Agreement (AITIGA), to make it more trade-facilitative and beneficial for businesses across the region, started in May 2023. The Joint Committee undertaking the review work has met four times so far and has finalised its terms of reference and the negotiating structure for the review
Next round of India-Asean trade pact review talks in July Read More »
The two countries told the WTO that they estimated that over the period 2018-19 to 2021-22, New Delhi provided sugarcane subsidy between 91-100%, which was “vastly in excess of the limits set out” at 10% of value of food production in the case of India and other developing countries.
India offered sugarcane sop vastly in excess of WTO limits: US and Australia Read More »
In April, India increased imports of Russian oil while decreasing imports from Iraq and Saudi Arabia, according to preliminary data from Kpler and LSEG. Despite geopolitical tensions, Russia remained India’s top oil supplier. Indian refiners boosted overall oil purchases by 13-17% but reduced imports from Iraq by 20-23%. Russia’s oil imports are projected to decrease
India buys more Russian, less Saudi oil in April Read More »
In a submission to the WTO last week, India said that stringent MRLs can be trade-restrictive and act as non-tariff barriers to international trade, disproportionately affecting exporters from developing countries. पिछले हफ्ते WTO को सौंपे गए एक निवेदन में, भारत ने कहा कि कड़े MRLs व्यापार-प्रतिबंधक हो सकते हैं और अंतरराष्ट्रीय व्यापार के लिए गैर-टैरिफ
New Delhi is concerned over Western ban on rough diamond imports from Russia, the world’s biggest diamond producer and the biggest source of raw material for India’s thriving polished diamond industry located in Surat.
Jaishankar raises India’s concerns over restrictions of Russian diamonds with Belgium Read More »
New Delhi has submitted to the multilateral trade body that “promoting interoperability and interlinkages of digital payment infrastructures, including fast payment systems”, can be one of the means to achieve cheaper, faster and more transparent and accessible cross-border payments. The global average cost for sending remittances is 6.18%, higher than the sustainable development goal to
RBI and NPCI push for bringing down cost of remittances at WTO Read More »
New Delhi is the largest supplier of seafood, particularly frozen shrimps, to the US and Indian shrimp exporters follow a robust regulatory and safety regime, the official said. There are around 1 lakh shrimp farms in India most of which are in Andhra Pradesh. Refuting reports of poor working conditions and safety standards, the official
India aims Rs 1 lakh cr seafood export in 2 years Read More »
