Page 9 - India Imports

Imports from Russia up 64% to $36.27 bn in Apr-Oct; crude, fertiliser tops

India's imports from Russia rose 64 per cent to USD 36.27 billion during the April-October period this fiscal on higher shipments of crude oil and fertiliser, according to the commerce ministry data. With this, Russia has become India's second-largest import source during the first seven months of this fiscal. The imports were USD 22.13 billion during April-October 2022. From a market share of less than 1 per cent in India's import basket before the start of the Russia-Ukraine conflict, Russia's share of India's oil imports rose to over 40 per cent. India, the world's third-largest crude importer after China and the United States, has been buying Russian oil after some countries in the West shunned it as a means of punishing Moscow for invading Ukraine. The ministry's data showed that imports from China dipped marginally to USD 60.02 billion during the period against USD 60.26 billion in the year-ago period. Similarly, imports from the US declined 16 per cent to USD 24.89 billion

Govt's registration requirement for laptop imports a boon for us: Primebook

The government's move to enforce registration requirement for laptop imports came as a boon for home-grown Android-based laptop maker Primebook, according to the company's CEO Chitranshu Mahant. The move (to put registration requirement for imports) "actually came as a blessing to us. We had no issues, but other brands were not able to import stuff. So we had a good market exposure because of the problems," Mahant told PTI. The government has put in place a new system under which companies willing to import laptops, tablets and certain components are required to register the quantity and value of imports on a portal. The new system was announced in October this year and the government has cleared a total of 110 applications, including those from Apple, Dell, HP and Lenovo, seeking permission for imports worth around USD 10 billion. The authorisation for these imports is valid until September 2024. According to the government, the new 'import management system' is aimed at monitorin

Curbs, PLI, quality norms help cut import of some non-essential goods

Steps such as curbs on inbound shipments of certain goods, production linked incentive scheme and mandatory quality norms are helping the country reduce imports of non-essential products such as TV, tyres, wallpaper and AC gas compressors. These steps, among others like imposing antidumping and countervailing duties, have been taken to analyse and control non-essential imports and to augment domestic production capacity in import intensive sectors, an official said. According to an analysis of the commerce and industry ministry, import restrictions imposed on tyres helped cut the inbound shipments by 74 per cent to USD 74 million in 2022-23 from USD 276 million in 2019-20. Calendar year wise, these imports declined to USD 36 million till July this year as against USD 353 million in 2018. The government in June 2020 imposed import curbs on certain new pneumatic tyres used in motor cars, buses, lorries and motorcycles to promote domestic manufacturing and contain imports from ...

Time to 'phase up' on oil production

As the demand for petroleum products drives on relentlessly, imports surged to 230 mt, leaving us vulnerable to vagaries of global uncertainties

India's lentils imports from Canada keep flowing despite tensions

Canada is India's main import source of lentils, a protein-rich staple used to make daal curry

Protectionism diverts attention from enhancing industry competitiveness

It is a throwback to the pre-liberalisation days when the government preferred to restrict imports with a view to protect inefficient domestic producers

US emerges as India's biggest trading partner during Apr-Sep this fiscal

The US has emerged as India's biggest trading partner during the first half of the current financial year despite global economic uncertainties and declining exports and imports, according to government data. According to the provisional data of the commerce ministry, the bilateral trade between India and the US has declined by 11.3 per cent to USD 59.67 billion during April-September 2023 against USD 67.28 billion in the same period last year. Exports to the US have come down to USD 38.28 billion during April-September 2023 from USD 41.49 billion a year ago. Imports also declined to USD 21.39 billion during the first six months of the current fiscal compared to USD 25.79 billion in the same period last year. Similarly, the two-way trade between India and China also dipped by 3.56 per cent to USD 58.11 billion. Exports to China contracted marginally to USD 7.74 billion during the first half of the current fiscal from USD 7.84 billion in the year-ago period. Imports fell to USD 50.

India not planning curbs on imports or investments from Canada: Reports

Ties between New Delhi and Ottawa deteriorated sharply after Prime Minister Justin Trudeau said in September his intelligence agencies were pursuing credible allegations

Govt to issue end-to-end digital authorisation for laptop, tablets' import

The decision spells relief for global laptop makers such as Dell, HP, Apple, Samsung and Lenovo, which had been unnerved by the abrupt announcement of a licensing regime in August

PLI scheme effect? Bulk drug imports from China slow, shows data

Experts say scheme to boost local manufacturing will take 5-7 years to show tangible results

Imported food item for re-export doesn't need clearance, says FSSAI

The FSSAI advisory should also come as a big relief in ease of doing business

US, Korea raise concerns on India's import restrictions on laptops, PCs

The US, China, Korea and Chinese Taipei have raised concerns on India's decision to impose import restrictions on laptops, and computers, in a meeting of the World Trade Organisation (WTO), an official said. The concern was flagged in the meeting of WTO's Committee on Market Access. It was chaired by Renata Crisaldo of Paraguay on October 16, in Geneva. The US has stated that the decision will have an impact on trade of these products, including US exports to India, once they are implemented, the Geneva-based official said. America has also said that the decision is creating uncertainty for exporters and downstream users. On August 3, India imposed import restrictions on a host of IT hardware products as laptops, personal computers (including tablet computers), micro computers, large or mainframe computers, and certain data processing machines with a view to boost domestic manufacturing and cut imports from countries like China. The regime would come into effect from November ...

Amid declining Indian imports, shipments from Russia, Hong Kong see growth

In the realm of exports, India saw diverging trends among its top 10 markets

Imports from Russia up 67% in Apr-Sep on higher shipments of oil: Govt data

India's imports from Russia rose by about 67 per cent to USD 30.42 billion during the April-September period this fiscal on higher shipments of crude oil and fertiliser, according to the commerce ministry data. With this, Russia has become India's second-largest import source during the first half of this fiscal. The imports were USD 18.24 billion during April-September 2022. From a market share of less than 1 per cent in India's import basket before the start of the Russia-Ukraine conflict, Russia's share of India's oil imports rose to over 40 per cent. India, the world's third-largest crude importer after China and the United States, has been buying Russian oil that was available at a discount after some countries in the West shunned it as a means of punishing Moscow for the invasion of Ukraine. The ministry's data showed that imports from China dipped to USD 50.47 billion during the period against USD 52.42 billion in the same period last year. Similarly, imports from the US .

India's exports decline 2.6% to $34.47 bn in September: Govt data

India's exports declined by 2.6 per cent to USD 34.47 billion in September this year as against USD 35.39 billion in the same month last year, government data showed on Friday. Imports too fell by 15 per cent to USD 53.84 billion as against USD 63.37 billion recorded in September 2022. The country's trade deficit in the month stood at USD 19.37 billion. During April-September this fiscal, exports contracted by 8.77 per cent to USD 211.4 billion. Imports during the six-month period fell by 12.23 per cent to USD 326.98 billion. Meanwhile, Commerce Secretary Sunil Barthwal said, "Negotiations for the India-UK FTA (free trade agreement) are going on and we are ironing out the differences.

Relief for Sikkim: Likely duty waiver by GST Council for warning system

The exemption would be valid for imports made up to the end of February 2024, a source familiar with the matter said

SAIL expects four coking coal ships of 75,000 tonnes each from Russia

SAIL said it was working on doubling coking coal production capacity in International Coal Ventures Private Limited (ICVL) at Mozambique

Canada's lentil sales to India slow after Trudeau raises murder suspicions

Canada is India's main import source of lentils, a protein-rich staple used to make daal curry

DGTR probes dumping of 3 Chinese goods; to protect MSMEs from cheap imports

The commerce ministry's investigation arm DGTR has "suo-motu" initiated probes against alleged dumping of three products, including unframed glass mirrors and fasteners, by Chinese companies as the authority seeks to guard MSME units against cheap imports from the neighbouring country. Usually, anti-dumping investigations are initiated based on an application filed by domestic producers, but since the fragmented industries did not have the know-how of the procedures involved in the trade remedy probe, the Directorate General of Trade Remedies (DGTR) has undertaken the exercise to investigate the matter on its own initiative. According to three separate notifications, the DGTR said that it is probing alleged dumping of telescopic channel drawer, unframed glass mirror and fasteners. The move is aimed at granting much-needed protection to the MSME (micro, small and medium enterprises) producers against dumped goods from China. "This is a giant leap forward from DGTR's first suo-motu .

India likely to delay import licensing of laptops, tablets, PCs by a year

After industry objections, the plan, which would also affect Dell and HP, was quickly delayed by about three months, and came under criticism from Washington