New Delhi: India's merchandise exports plummeted by 3% to $437 billion in the previous fiscal year, despite a fourth-quarter uptick.
India's November merchandise deficit narrows by 2.84% YoY to $20.58 billion
New Delhi: After reaching a record high in October, India's merchandise trade deficit contracted to $20.58 billion in November 2023, primarily due to a substantial decline in gold imports, as reported by the commerce ministry on December 15.
Govt to extend free import policy for laptops, tablets, and computers
New Delhi: The Indian government is considering an extension of the free import policy for laptops, tablets, and computers until September 30, 2024, Moneycontrol reported.
Govt imposes 40% duty on onion import
New Delhi: The government has imposed a 40 percent duty on the import of onion till December 31, the Ministry of Finance said on Saturday.
Trade deficit dips to lowest in 1 yr at $17.75 billion; exports, imports shrink
New Delhi/IBNS: The trade deficit in the month of January dipped to the lowest in a year at $17.75 billion, as both merchandise exports and imports dropped for the second consecutive month amid lukewarm external demand and a steep decline in gold imports.
India's crude oil imports jump by 53 pc during Apr-Nov period, shows latest govt data
New Delhi/IBNS: India’s crude oil import grew by 52.58 percent to $146.57 billion during April-November during FY23, according to data shared by the Ministry of Commerce.
RBI allows banks to open 12 'vostro accounts' to facilitate rupee acceptance in international trade
New Delhi: In a move to facilitate import-export trade in the rupee, the Reserve Bank of India (RBI) permitted banks to open “vostro accounts”.
India's balance of payment may go into $45-50 bn deficit in FY23
India's balance of payment is expected to be in deficit by $45 -50 billion in FY23 but this deficit can be managed comfortably with foreign exchange reserves at a healthy $531 billion, according to a report in the media.
Centre allows international trade settlements in Indian Rupees
New Delhi: The government has amended the Foreign Trade Policy and Handbook of Procedures to allow for International Trade Settlement in Indian Rupees for invoicing, payment, and settlement of exports/imports, the Ministry of Finance said Wednesday.
India's current account balance once again in deficit over high import bills
New Delhi/IBNS: India has recorded a deficit in its current account balance in July-September 2021 owing to a higher merchandise imports.
Indian exports and imports nosedive in March
New Delhi/ IBNS: Indian exports and imports declined by record volumes in March, as countries across the world sealed their borders to fight the COVID-19 outbreak.