India imported 141.93 lakh tonnes edible oil during 2021-22 marketing year: Government

“The domestic production of edible oilseeds increased marginally. However, domestic consumption/demand for edible oils has been increasing at a pace faster than that of production due to growth in population and improvement in the living standards of people i.e. around 10 lakh tonnes per annum,” she said.

Nepal’s government wants to export tomatoes to India in large quantities on a long-term basis, but it needs India to provide access to the market and other necessary facilities. This comes as India starts importing tomatoes from Nepal due to a record-high spike in prices in the country.

Violation of the law can attract a penalty of up to two years of imprisonment or with fine of at least Rs 2 lakh for the first offence which increases to Rs 5 lakh minimum for the second and subsequent offences. These orders are issued by the department in consonance with the WTO (World Trade […]

The Indian government is reviewing its existing free trade agreements (FTAs) with ASEAN and Korea, according to Commerce and Industry Minister Anupriya Patel. Patel said negotiations on FTAs with the EU, Canada, and the European Free Trade Association, as well as the ongoing review of existing agreements, were just part of a long process.

Pakistan’s drugs regulatory watchdog has said that hospitals and common citizens can import vital medicines, including anti-cancer drugs and vaccines, from India for their use. There is no restriction on hospitals or the common man on importing vital medicines (anti-cancer drugs and vaccines) from India for their own use.

Exporters in India are being unfairly labelled as “risky” based on risk indicators from customs, GST, income tax and foreign trade data. The country’s Central Board of Indirect Taxes and Customs (CBITC) is responsible for implementing the initiative but there is no sensitive handling of issues at the field level that often affects legitimate exporters […]

Separately, the government is also said to be reviewing other high-import products such as urea, antibiotics, turbo-jets, lithium-ion accumulators, refined copper, machines and mechanical appliances, solar and photovoltaic cells, aluminium scrap, sunflower seed oil, and cashew nuts.

India is a natural trade and investment partner for Sri Lanka, considering its geographical proximity and its current “Neighbourhood First” policy. Japan has a long-standing relationship with the country providing development assistance. “A vulnerable developing country like Sri Lanka can utilize tripartite cooperation to signal its specific demands more efficiently, thereby increasing opportunities for joint […]

The Indian government has initiated trade in the Indian rupee with its neighbouring countries, including Nepal, Bhutan, Bangladesh and Sri Lanka, among others. The Reserve Bank of India has approved 34 applications from Russian banks for the opening of Special Rupee Vostro Accounts (SRVA) in 14 Indian commercial banks, according to Minister of State for […]

India’s imports from China in at least 25 major commodity groups increased in fiscal 2023, including consumer electronics, auto components, and iron and steel products. The statement, which listed Chinese imports in a total of 31 commodity groups, comes amid New Delhi’s efforts to reduce its trade deficit with China since border tensions flared in […]