Page 3 - India Imports

India demands nearly $250 million from Pernod for undervaluing imports

Pernod is the second-largest spirits company globally and in India. The notice from India's customs authority, dated June 27, relates to liquor concentrates imported from a Pernod subsidiary

Fertiliser firms willing to import phosphoric acid at 40% less price

Fertiliser companies are looking to import phosphoric acid at USD 1,000-1,050 per tonne, which is around 40 per cent cheaper than the price quoted by global suppliers in the September quarter, as international prices have declined. Phosphoric acid is a key raw material for the manufacturing of DAP and other NPK fertilizers. According to sources, the price of phosphoric acid was USD 1,715 per tonne for the last quarter ended 2022. International prices of DAP (Di-ammonium phosphate) fell sharply during the last quarter and therefore the rates of phosphoric acid are also expected to fall, they added. The international prices of phosphoric acid are decided on quarterly basis. The key international suppliers are OCP Morocco, JPMC Jordan, Senegal etc. Sources said a company has purchased a cargo of phosphoric acid from Senegal at price of USD 1,200 per tonne, but the rate is still higher. Leading Indian fertiliser companies are looking to buy phosphoric acid at USD 1000-1050 for the ne

India initiates anti-dumping probe into import of Chinese laser machines

India has initiated an anti-dumping probe into import of industrial laser machines used for cutting, marking and wielding, from China following a complaint by a domestic player. The duty is aimed at protecting the domestic industry from cheap imports. The commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) is probing the alleged dumping of the machine originating in or exported from China. Sahajanand Laser Technology has filed an application to initiate the anti-dumping investigation. The applicant has alleged that dumping of the machines is impacting domestic industries. "On the basis of the duly substantiated application by and on behalf of the domestic industry, and having satisfied itself, on the basis of the prima facie evidence submitted by the domestic industry, substantiating dumping of the product...the authority hereby initiates an investigation," the DGTR has said in a notification. If it is established that the dumping has caused materia

India slashes base import prices of crude and refined palm oil, gold

India has slashed the base import prices of crude and refined palm oil, crude soya oil and gold, the government said in a statement late on Friday, as prices corrected in the world market

Centre to put curbs on imports of some items to arrest rupee's fall: Report

The authorities have already started to track the imports of select products, including electronics. However, a final decision is still to be made

India's CAD may have breached 3% of GDP in Q1 on surge in imports

Analysts peg full-year figure at $120 bn, but say it will be lower as proportion of GDP than FY13 levels

US-India in talks to reduce country's dependence on Russian arms, energy

Russia is "no longer a reliable weapons supplier", and Indians are "coming to understand" that they could benefit from finding other suppliers, an official of the US State Department said

Edible oil imports surge 35% in Aug as share of Russia, Argentina rises

RBD palmolein now constitute 12% of total imports of edible oils against 2% last year

Managing inflation can't just be left to RBI: FM Nirmala Sitharaman

'Monetary and fiscal policies have to work in tandem; importing Russian oil part of inflation management'

RBI, FinMin ask banks, trade bodies to push cross-border rupee trade

Reserve Bank and the finance ministry on Wednesday asked top management of banks and representative of trade bodies to push exports and import transactions in rupee. It was stressed during a meeting that banks should connect with their foreign counterparts for opening special rupee vastro accounts to facilitate cross-border trade in Indian currency rather than popular mode dollar, sources said. Trade associations and their foreign trading partners should explore opportunities to make use of the framework, sources added. The meeting, which saw participation from various stakeholders, including officials of external affairs and commerce ministries, Indian Banks' Association, urged embassies abroad to promote the mechanism through diplomatic channels. According to sources, countries like Sri Lanka, Argentina and Zimbabwe may be interested in settling bilateral trade in rupee. RBI in July issued a detailed circular asking banks to put in place additional arrangements for export and im

Will consider importing vegetables, other edible items from India: Pakistan

It looks to import vegetables and other essential food items amid devastating floods

One year of Taliban takeover: 'Hing' spices up India-Afghanistan trade

However, the quantity imported isn't to meet overall demand, say traders; plans are on to start producing the condiment at home

At $4.3 bn, imports from Russia jump nearly 7 times in June: Govt data

Oil makes up 71% of total imports from the country

Exports up 2.14% to $36.27 bn in July; trade deficit at record $30 bn

Imports shot up by 43.61 per cent to $66.27 billion in the month compared to July 2021, the data showed.

HPCL, BPCL shed up to 4% on lackluster June quarter performance

So far in this calendar year, BPCL and HPCL have tumbled 13 per cent, and 14 per cent, respectively. However, frontline indices Nifty50 and the S&P BSE Sensex have remained flat during the same period

Top Headlines: Windfall tax review, rising medical devices import and more

India's medical devices imports surged 41 per cent to touch Rs 63,200 crore in 2021-22, led by a 48 per cent year-on-year (YoY) jump in imports from China. Read more in our top headlines

South India ports log surge in traffic as ships skip crisis-hit Sri Lanka

Industry bodies said at least 10 per cent of normal cargo is being diverted from Sri Lanka to Indian ports due to multiple reasons like congestion and shortage in fuel availability

Extending export credit in rupee can boost its acceptability: Experts

However, the rupee can truly become internationalised only when it becomes freely convertible on capital account, they say

Share of dollar, euro in Indian trade payments up 30% since 1990s: IMF data

Research shows effect of dollar fluctuations on bilateral trade; RBI mechanism to pay in Indian rupees may help settle trade with Russia and Sri Lanka, remove risks of dealing in greenback

The emerging stress in imports: Surprisingly, it's coal more than oil

Surprisingly, its coal more than oil that is emerging as a huge pressure point