India and Tanzania started trade settlements in local currencies: S Jaishankar

External Affairs Minister S Jaishankar on Saturday said that India and Tanzania have started trade settlements in local currencies and this new initiative will help in promoting commerce between the two countries. Addressing industry leaders at a function, the minister said India-Tanzania bilateral trade has seen very strong growth, and stood at USD 6.4 billion […]

Some Indian refiners, including a private refiner, have paid for some Russian oil imports in Chinese currency Yuan following such demands from suppliers, according to people familiar with the matter.

The Directorate of Revenue Intelligence (DRI) has sent notices to seven exporters who were allegedly exporting restricted products. The directorate has confiscated some shipments of chemicals, minerals, metal and alloys and some essential commodities, which were under the special chemicals, organisms, materials, equipment and technologies (SCOMET) list, officials said. The shipments were confiscated by the […]

In a veiled attack on China, External Affairs Minister S Jaishankar has said that, unlike some other countries, India is not “an extractive economy” and it was not pursuing “narrow economic activities” in the resource-rich African continent. Jaishankar, who arrived here on Thursday after visiting Zanzibar, made these remarks while addressing the Indian community in […]

India is now the best-performing country amongst all the countries of the South Asia region. The overall score of India has been greater than many developed countries including Canada, France, the UK, Germany etc.

The EU’s introduction of a Carbon Border Adjustment Mechanism (CBAM), with 20% to 35% tariffs on high-carbon exports, could impede India’s exports of steel, iron ore and cement, according to the the country’s finance ministry. The EU plans to levy the tariffs from 2026 and will start requiring reports of carbon content for such exports […]

In a meeting called by the Ministry of Commerce & Industry this week, EEPC India chairman Arun Kumar Garodia discussed various recommendations in the strategy paper to boost India’s engineering exports. Pursuing new free trade agreements (FTAs) with emerging countries in Latin America and Africa, a scheme to support MSMEs in research and innovation, setting […]

The Directorate General of Trade Remedies (DGTR) has initiated a Safeguard duty (Quantitative Restrictions) investigation concerning imports of low ash metallurgical coke (Met Coke) into India. Met coke is used as a primary fuel in furnaces of steel, chemical, Ferro alloy, and pig iron plants. DGTR will be investigating imports of the commodity from April […]

India can also put trade barriers in retaliation to restrictions imposed by some countries, Union Minister R K Singh said on Wednesday. The minister for power, new and renewable energy made the remarks at the first International Conference on Green Hydrogen 2023.

The DGTR in a notification said the applicant has alleged that the product is exported by China into India at dumped prices in significant quantities for a prolonged period and that is impacting the industry.