Page 12 - India Imports

India extends policy to import refined palm oil at lower duty of 13.75%

The duty cut made refined palm oil imports lucrative for Indian refiners, which traditionally prefer to import crude palm oil

Centre develops new metrics for imports after reports of under-reporting

In November, media reports emerged showing a $12 billion mismatch in the Indian and Chinese trade figures between January and September

The trade balance

Containing imports will not help

Traders boycott Chinese goods, CTI asks Piyush Goyal to amend import policy

The Chamber of Trade and Industry (CTI) wrote to Union Commerce Minister Piyush Goyal urging him for a change in the import policy and to make it mandatory to write the country of origin on every item

India raises base import price of palm oil, gold as prices surge globally

India is the world's biggest importer of edible oils and silver and the second-biggest consumer of gold

India imports 131.92 MT coal worth Rs 2.3 trillion in Apr-Sep this year

India imported 131.92 million tonne of coal worth Rs 2.3 lakh crore in April-September period of ongoing financial year. In FY22, the country's coal import of 208.93 million tonne (MT) was worth Rs 2,28,741.8 crore, Coal Minister Pralhad Joshi said in a reply to the Rajya Sabha. The coal import was 215.25 MT in FY21, 248.54 MT ( FY20), 235.35 MT (FY19) and 208.25 MT (FY18), the minister said. Import of coal in India consists mainly of coking coal and high grade coal, whose prices are normally higher than thermal coal. The average landed price per tonne of imported coal up to September of current financial year was Rs 19,324.79 while the average notified price per tonne (ex-colliery) of domestic coal was Rs 2,662.97 in the same period. India imports coking coal and other high gross calorific value (GCV) coal as domestic production is limited due to either scarce reserves or non-availability. Imported coal based (ICB) power plants in the coastal region import coal as they are so .

India's palm oil imports jumed 29% to 1.14 million tonnes in Nov: Report

Higher imports by India, the world's biggest palm oil buyer, would help top producer Indonesia cut its inventories and support benchmark Malaysian palm oil prices

UAE emerges as second biggest tea importer from India after CIS bloc

The United Arab Emirates (UAE) emerged as the second largest importer of tea from India after the Commonwealth of Independent States (CIS) as a block, according to the latest data released by Tea Board. During the period from January to September 2022, UAE imported 28.58 million kilograms of tea from India, a rise of 159 per cent from the similar nine-month period of 2021. CIS countries imported 38.06 million kilograms during that period in 2022, up from 33.34 million kilograms in the corresponding period of 2021. Tea industry sources said that the exporters are looking for other avenues as shipments to Iraq, an erstwhile major importer, reduced to zero due to payment issues. "It is good to see that UAE is now importing Indian tea in a big way. This augurs well for the exporters as it is a major consumer of the premium orthodox variety," an exporter said. Besides Iraq, shipments to another major buyer Iran are also suffering due to economic sanctions imposed by the US and also bec

Top Headlines: Govt to curb imports of Chinese fans, rural FMCG demand dips

Business Standard brings the the top headlines at this hour

Rural distress harming MSMEs, pulling down manufacturing: Economists

Government's PLI schemes can help manufacturing and reduce import dependence in some sectors, say some experts

Need separate ministry for pharma to counter Chinese imports: Industry CEOs

The government needs to set up a separate ministry for the pharma sector to encourage domestic producers and decrease Chinese imports, opined CEOs while participating in a discussion on the challenges being faced by the sector. In a CEO Roundtable at the 15th edition of CPHI & PMEC India held on Tuesday, the Chief Executive Officers (CEOs) of companies, including those from RPG Life Science and Fermenta Biotech, also discussed ways to shift the focus of the domestic industry from volume to value. The leaders also pointed out the need to reduce dependency on China by using technology. Organisation of Pharmaceutical Producers of India (OPPI) Director General Vivek Sehgal said that the industry needs to collaborate and co-work and unite for collective voice on IPR related issues. The leaders also discussed having a single industry organisation to put across the grievances of the pharma industry before the government. Speaking at the inaugural session of the 15th edition of CPHI &

India's finished steel imports from Russia hit 4-year high in April-October

India's finished steel imports from Russia during April-October rose to their highest in at least four years, government data showed

ECTA: The dawn of a new era in Indo-Aus relations

Indian exports and manufacturing will be equally benefited with the duty-free import of raw materials from Australia for their competitiveness

What is going wrong with Indian exports?

The impact of the global slowdown is beginning to be felt in India. The country's goods exports have contracted for the first time in two years. What went wrong with India's exports story?

India likely to import 64% less soyabean; nil soyabean meal in FY23: SOPA

The total availability of soyabean is estimated at 147.55 lakh tonnes this season, higher than 126.27 lakh tonnes in the previous season

India's exports contract for first time in 2 years; imports moderate

Decline 17% to $29.8 billion in October

Tax-authorities tighten noose around under-invoicing of Chinese imports

Tax authorities suspect a tax evasion of more than Rs 16,000 crore through under-invoicing by businesses from April 2019 to December 2020

FM should clear the air on 'pre-import' matter

The Customs have started sending show-cause notices (SCN) to several exporters alleging violation of 'pre-import' condition in case of imports without payment of IGST under advance authorisations

World food import bill to be at record high of $1.94 trillion in 2022: FAO

The world food import bill is estimated to rise to US$1.94 trillion in 2022, higher than previously expected, according to the latest Food Outlook forecast released by the FAO

Piyush Goyal asks exporters make price adjustments to retain market share

A temporary change in pricing will help them accommodate short-term challenges, an official statement says; minister reviewed sectoral progress in exports with EPCs and Industry bodies