India Inc not in the crosshairs for now from Middle East conflict: Crisil

The ongoing Middle East conflict, primarily affecting Gaza, has had a negligible impact on India’s trade, according to Crisil Ratings. Sectors like fertilizers and diamonds may see slight but manageable impacts, while most others will be unaffected. However, the conflict has raised gold and crude oil prices, and their trajectories are being monitored, given India’s […]

“I will assure you that we are extremely concerned about CBAM…We are taking it up with the WTO very very seriously. We shall try to work and fight to get a fair deal for the Indian producers and exporters and nobody is complacent about CBAM,” he said.

Think tank Global Trade Research Initiative (GTRI) has suggested that the government of India should consider allowing the sale of products manufactured in Special Economic Zones (SEZs) in the domestic market on payment of duty foregone on inputs. This will enable promotion of value addition, the organization suggested.

Various steps such as inbound shipments of certain goods, production-linked incentive scheme and mandatory quality norms have helped in reducing import of non-essential products. To cut imports, the government has increased customs duty on gold, imposed curbs on inbound shipments of television, levied minimum import price on some goods, introduced National Food Security Mission (Oilseeds […]

India’s Finance Minister, Nirmala Sitharaman, has praised the State Bank of India (SBI) for launching a direct Sri Lankan Rupee-Indian Rupee trade, making it the first foreign bank in Sri Lanka to do so. Sitharaman inaugurated the second SBI branch in Jaffna during her official visit to Sri Lanka. The initiative aims to provide an […]

On an official mission to India, Minister of Agriculture and Livestock, Carlos Fávaro, seeks to strengthen diplomatic relations and enhance ties of friendship between the countries through commercial and cooperation opportunities in the agricultural sector.

India’s edible oil imports in October plummeted to their lowest level in 16 months, primarily due to increased stock levels, which prompted refiners to reduce their purchases of palm oil, soyoil, and sunflower oil. This drop in imports, by the world’s largest vegetable oil buyer, may lead to surplus palm oil stocks in key producer […]

India and Sri Lanka have resumed negotiations for the Economic and Technology Cooperation Agreement (ECTA) after a five-year hiatus. The 12th round of talks took place in Sri Lanka from October 30 to November 1, following 11 rounds held between 2016 and 2018. During this latest round, both sides reviewed progress and resolved nine issues.

The decline in services imports persisted throughout all three months of the September quarter. However, there was a silver lining in the fact that services exports had seen an increase during July and August.

India’s imports of Russian oil eased in October as global oil prices rose, narrowing the discounts that had made Russian oil attractive. Preliminary data from Kpler and Vortexa showed a 12% and 8% decline in India’s monthly intake of Russian oil in October. Despite this decline, it is expected that India’s oil imports from Russia […]