After a five-month slowdown, India is increasing its palm oil purchases due to a price correction that has made it cheaper than soyoil. Refiners are replenishing inventories, which will likely support Malaysian palm oil futures. Imports are expected to rise above 500,000 tons in May and potentially exceed 700,000 tons monthly from July to September […]
India starts raising palm oil buying as prices fall below soyoil
India and the US have finalized terms for a Bilateral Trade Agreement, marking the Trump administration’s first such framework. The US aims to address trade imbalances and open markets for American goods, focusing on tariff and non-tariff barriers. Both nations seek enhanced economic ties, covering goods, digital trade, and intellectual property rights, with negotiations set […]
India-US trade pact to expand bilateral trade, tech, ties in mutually beneficial manner: Official
1 year ago
A senior commerce ministry official stated that the proposed India-US bilateral trade agreement (BTA) aims to significantly boost trade, technology, and economic cooperation. Both nations, strategic partners with complementary economies, seek to more than double bilateral trade to USD 500 billion by 2030. The BTA intends to foster mutual prosperity and well-being, unlocking the full […]
Palm Oil demand from China and India expected to rise as prices become competitive, says MPOC
1 year ago
Palm oil demand is anticipated to rise from major buyers like China and India due to its competitive pricing compared to rival vegetable oils. While Malaysian palm oil prices have decreased this year, they are expected to remain supported. China aims to replenish inventories, while India seeks to capitalize on lower prices to rebuild its […]
India, US hard at work on trade deal, New Delhi must drop some non-tariff barriers: JD Vance
1 year ago
U.S. Vice President JD Vance urged India to reduce non-tariff barriers to facilitate a comprehensive trade agreement, emphasizing deepened economic and strategic cooperation. Vance highlighted the U.S. interest in expanding energy exports, assisting in offshore gas exploration, and enhancing defense collaboration with India. Both nations share strategic concerns in the Indo-Pacific region.
India’s oil imports saw a shift in fiscal year 2024-25, with OPEC’s share hitting a record low as Russian oil imports surged. Refiners favored discounted Russian crude, making Russia the top supplier for the third consecutive year. Consequently, imports from Saudi Arabia and Iraq declined significantly due to pricing and geopolitical factors.
Mumbai International Cruise Terminal (MICT) commenced operations, inaugurated by Union Minister Sarbananda Sonowal. Designed to accommodate 1 million passengers annually, the terminal can handle five ships simultaneously. Investment in the MICT project totaled Rs 556 crores. Agreements were also signed for infrastructure projects exceeding Rs 5,700 crores at Vadhavan Port, including container, bulk, and liquid […]
Prime Minister Narendra Modi’s visit to Saudi Arabia marks a significant milestone as the first Indian prime minister in four decades to visit Jeddah. The visit, at the invitation of Crown Prince Mohammed bin Salman, aims to strengthen the India-Saudi partnership through the Strategic Partnership Council.
India and the United States have finalised a roadmap to begin negotiations on a Bilateral Trade Agreement (BTA), following meetings between Prime Minister Narendra Modi and US Vice President JD Vance. The move comes as Washington enforces new tariffs under President Trump’s trade agenda, including a 26% rate on Indian imports. With key sectors exempt […]
India is actively pursuing a bilateral trade agreement with the US, aiming to finalize the first phase by fall. Finance Minister Sitharaman emphasized the government’s commitment during her US visit, highlighting discussions with the US administration and the Prime Minister’s engagement. India is also focusing on becoming a developed nation by 2047, prioritizing key sectors […]