Indian Oil Corp and Bharat Petroleum Corp are considering lifting an additional 1 million barrels of oil each from Saudi Aramco in February. The move comes after the kingdom cut the official selling price of its key export grade for February to the lowest in 27 months. The Indian Oil Corp is also seeking more […]
Indian refiners set to ask for extra Saudi oil after sharp price cut
India’s total imports and exports between January and November 2023 declined 8% and 5%, respectively, from a year earlier. December data has not been released.
India- famous as a tea producer – is also the world’s eighth-largest coffee grower, mainly churning out the robusta beans used to make instant coffee. It also produces some of the more expensive arabica variety.
Praising India’s diverse food industry and the burgeoning demand for Indian foods globally, the minister emphasised on the need for large-scale food processing, product branding and export focus to provide better value to farmers, generate employment and enhance the country’s earnings.
Commerce Minister Piyush Goyal has confirmed that only a ‘few ticklist issues’ are left needs to be sorted out in the India-UK free-trade agreement (FTA). According to the government, India-UK free trade agreement talks completed 13 rounds of negotiations that took place from 18 September to 15 December. The fourteenth round of negotiations are expected […]
Non-basmati prices high on low supply
2 years ago
The offtake of rice in September and October 2023 was 2.838 mt and 3.098 mt,respectively, while in September and October 2022, the monthly offtake was 5.848 mt and 5.386 mt , respectively. The offtake of rice in November 2023 was 3.126 mt against 7.083 mt in year-ago month.
The initial assessment, conducted by the Research and Information System for Developing Countries, a New Delhi-based thinktank, would mean a 6.7% drop in Indian exports, based on last fiscal year’s $451 billion total.
The dedicated ecommerce export hubs will have warehousing facilities for easy storage, customs clearance, returns processing, labelling, testing and repackaging. The move is expected to aid sellers relying on online platforms, including social media such as Instagram, to sell their merchandise.
The proposed free-trade agreement (FTA), Comprehensive Economic Partnership Agreement (CEPA), between India and Oman faces potential challenges due to demands for customs duty concessions on petrochemical products like polypropylene and polyethylene. Certain domestic players oppose these duty concessions, citing Oman’s significant subsidies on raw materials for petrochemical production.
The CM also released the USD 1 trillion report and the first copy was received by Goyal on the occasion. Later in a social media post, Stalin said, “Honoured to share the dais with Union Minister of Commerce and Industry Thiru Piyush Goyal and esteemed industry leaders. TVS Chairman Venu Srinivasan, JSW MD Sajjan Jindal, […]