India’s July edible oil imports at record high

India’s edible oil imports hit a new record of 1.76 million metric tonnes in July, as refiners stockpiled ahead of upcoming festivals amid concerns over supplies from the Black Sea region. Higher imports could reduce sunflower oil stocks in other countries and also support benchmark futures for palm and soyoil. India’s monthly average edible oil […]

The Reserve Bank of India (RBI) has approved 34 applications from different Russian banks for opening special rupee vostro accounts in 14 Indian commercial lenders as of July 2, Parliament was informed on Wednesday. India’s trade with Russia has been affected by difficulties in payment due to western countries’ sanctions on major Russian banks, Minister […]

Prices have risen as the government has imposed stockholding limits and sold the grain in the open market to traders amid concerns about a shortfall in domestic production.

India and the UK are close to finalizing a free trade agreement (FTA), with the 12th round of talks set to take place in August. The talks are expected to cover issues such as investment, reduced duties on autos and whiskey, and trade in services. Of the 26 chapters in the proposed FTA, 19 have […]

Rice exporters have approached the commerce ministry over the ban on the export of non-basmati rice, saying that many of them have letters of credit from foreign buyers and if they do not fulfil the contracts, they could face international arbitration. Failing to fulfil export commitments could also hurt India’s image in the global markets, […]

“Indian exports may take a bigger hit than exports from other competing countries to the EU because of India’s higher deforestation rate,” the report said, adding India’s exports will also be affected by the complex compliance requirements of the EUDR and the EU’s Foreign Subsidies Regulation (FSR).

A TOI report on Monday showed that this $1 difference in the MIP could lead to a significant bump in the shipment of popular brands like Johnnie Walker Black Label and Chivas Regal into India. Domestic players are of the opinion that India should agree to an MIP of $4 a bottle, instead of $5 […]

Manipur is famous for fabrics like moiraingphee, leirum, lasingphee and phanek, which have good demand in the US, Europe and Singapore.