News Trade

India’s Trade Deficit Widens To $24.16 Bn In August, Beating Expectations

India’s merchandise trade deficit in August was wider than expected and stood at USD 24.16 billion, according to a Reuters calculation based on export and import data released by the government on Friday. Economists expected the August trade deficit to be at USD 21 billion, according to a Reuters poll. India’s merchandise exports stood at […]

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National News

India’s Palm Oil Imports To Jump 26% To Record High In 2022-23

India’s palm oil imports are set to jump 26 per cent to a record high in the 2022-23 year ending on 31 October, as a recovery in consumption and competitive prices prompt refiners to increase purchases, the country’s top palm oil buyer told Reuters on Wednesday. Higher purchases by the world’s biggest importer of palm […]

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Government National News

India Is Monitoring On Steel Imports From China: Govt Official

India is monitoring steel imports after shipments from China touched a five-year high in the first four months of the fiscal year that began in April, the country’s steel secretary told Reuters on Monday. During April-July, China was the second-biggest steel exporter to India, after South Korea, selling 0.6 million metric tons, up 62 per […]

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Indian Rupee Rises Against Dollar But Faces Headwinds From US Yields

The Indian rupee rose on Monday, but higher near-maturity US Treasury yields were expected to limit the upside for the currency. The rupee was at 82.61 against the US dollar by 10:35 a.m. IST, compared with 82.6475 in the previous session. The domestic currency reached an intraday high of 82.5325. The two-year US Treasury yield […]

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International News

India’s July Russian Oil Imports Drops; Saudi Imports Fall To Two-and-half-year Low

India’s July crude oil imports from Russia dipped for the first time in nine months, while inbound shipments from Saudi Arabia tumbled to their lowest in 2-1/2 years following OPEC+ cuts, tanker data from trade and industry sources showed. Both China and India, the world’s biggest and third-biggest oil importers, cut imports from Russia and […]

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Export National News

Weaker Rupee Will Improve India’s Export Competitiveness, Says BoB Report

Amid the ongoing concerns of global economic slowdown and a possible recession in the United States (US), the Bank of Baroda in a report on Saturday has said that a weaker rupee will improve India’s export competitiveness. According to government data, India’s exports reportedly contracted by 15.88 per cent to USD 32.25 billion in July […]

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Government News

India Concludes Mega Oil Palm Plantation Drive To Boost Domestic Production

The ‘Mega Oil Palm Plantation Drive’, which commenced on July 25, where State governments along with oil palm processing companies participated, concluded on Saturday. The plantation drive was aimed to promote and increase oil palm cultivation. The government believes this will further assist in achieving the target of bringing an additional area of 6.5 lakh […]

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International News Trade

China’s Exports Plunged 14.5% In July, Biggest Drop Since 2020

According to government data released on Tuesday, China’s trade numbers decreased in July, an indication that the country’s economic recovery was dragging despite efforts by leaders in Beijing to boost development, according to the New York Times. After the United States, China has the second-largest economy in the world, and its exports have now plummeted […]

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