Why is India edgy about Israel’s war? The threats that loom over India

The ongoing conflict between Israel and Hamas poses several potential threats to the Indian economy. One major concern is the impact on oil prices, as India relies on imports for 85% of its oil needs. Higher oil prices could lead to increased import costs, fuel/fertilizer subsidies, and a weaker rupee, which would affect the country’s […]

India’s merchandise exports declined by 2.6% in September, reaching $34.5 billion. However, a 15% decrease in imports helped narrow the trade deficit to a five-month low of $19.4 billion. The government revised the export growth in August to 3.88% from an earlier reported contraction of 6.8%. Despite the decline, officials remain optimistic about positive growth […]

India and Brazil have set an “aspirational” target of increasing two-way trade to $50 billion by 2030, according to Commerce Secretary Sunil Barthwal. The current bilateral trade stands at $15.2 billion, and the two countries are aiming for $30 billion in the next 3-4 years. During discussions, the two sides also explored market access issues […]

The Indian government has extended the export duty on parboiled rice until March 31 next year. This move aims to maintain sufficient local stock and control domestic prices. The restrictions apply to all varieties of non-basmati rice, which make up about 25% of the country’s total rice exports. Earlier, the government also banned the export […]

India’s imports from Russia have increased by 67% to $30.42 billion during April-September this fiscal year. This surge is mainly due to higher shipments of crude oil and fertilizers. As a result, Russia has become India’s second-largest import source in the first half of this fiscal year. Russia’s share of India’s oil imports has risen […]

The eighth edition of the BRICS International Competition Conference, a biannual event, was held from October 11 to 13, with India playing the host after a gap of 10 years. The BRICS grouping comprises Brazil, Russia, India, China and South Africa. The next conference of the BRICS competition authorities will be hosted by South Africa […]

India is considering extending an export levy on parboiled rice to control local prices before key polls, potentially raising the risk of higher global food inflation. The government may extend a 20% export levy, due to expire on October 15, to keep a lid on domestic prices.

The IMEC was a landmark moment for India, promising to make it a big player in global trade. But now the Gaza war casts a shadow over this ambitious project and has dampened the spirits.

India’s diesel exports to Europe reached a record high in September, driven by arbitrage profits and a seasonal decline in domestic demand. The surge in exports will help Europe build commercial stockpiles ahead of the winter heating season and limit price gains. However, experts predict that export volumes are unlikely to continue at the same […]

The influx of cheap sunflower oil from Russia and Ukraine is causing palm oil prices to decrease. The two top producers are taking advantage of currency depreciation to gain a larger market share. Sunflower oil, which normally has a higher price, is now cheaper than soyoil and only slightly more expensive than palm oil.