Import

  • June trade deficit touches 11-month high at $11.76 billion July 16, 2014

    New Delhi: The June trade deficit touched 11-month high to $ 11.76 billion against $ 11.23 billion (MoM) and $ 11.28 billion (Y-o-Y). Though the imports dipped slightly to $ 38.24 billion against $ 39.23 billion on a month on month basis, it grew 8.3 per cent on a year...
  • Gold jewellery import dips 80 pc from Thailand in 2013-14 July 11, 2014

    New Delhi: Amid concerns over the certificate of origin issue, import of gold jewellery from Thailand has dipped by 80.7 per cent to Rs 100.46 crore (351 kg) in 2013-14, Parliament was informed on Friday. "Since 2011-12, import of gold jewellery from Thailand has come down," Commerce and Industry Minister...
  • Budget 2014: Import duty on stainless steel up 7.5 per cent July 10, 2014

    New Delhi: In a major relief to domestic stainless steel industry, reeling under severe under-utilisation of capacity, the government today increased import duty on flat-rolled products from 5 per cent to 7.5 per cent. Presenting his maiden Budget, Finance Minister Arun Jaitley said this was done to provide an impetus...
  • India may cut gold import duty at Budget: Industry official July 9, 2014

    Mumbai: India is likely to cut its gold import duty to 6 per cent from a record 10 per cent in Thursday's Budget, leading to a rise in imports in the second half, a senior official at the country's biggest gold trade group said on Wednesday. Higher overseas purchases by the...
  • US says Indian steel threaded rod being dumped, subsidised July 8, 2014

    Washington: The US department of commerce on Monday said that imports of steel threaded rod from India have been dumped and subsidised. Such a determination by the Commerce Department paves the way for imposing anti-dumping duty by the United States in Indian steel threaded rod by International Trade Commission - an...
  • Industry desires import duty on refined edible oil to be increased July 5, 2014

    With the union Budget a few days away, the industry hopes that the import duty on refined edible oil shall be increased. The edible oil industry is going through a tough phase and this is the need of the hour. ...
  • Gold swaps to cut imports, ease payment pressure July 4, 2014

    Mumbai: A plan by the Reserve Bank of India (RBI) to swap old gold in its vaults for purer metal abroad that it could pledge or sell would have the added benefits of reducing gold imports and easing pressure on the balance of payments. The RBI would sell relatively impure gold...
  • Sugar prices to shoot up as government hikes import duty to 40 per cent June 23, 2014

    New Delhi: Sugar prices are likely yo shoot up as the Union government has increase the import duty on the product to 40 per cent. Food and Civil Supplies Minister Ram Vilas Paswan said on Monday that the import duty would be hiked by 25 per cent from the current 15...
  • UK to assist India in ensuring lifting of ban on Mango import June 20, 2014

    London: A British government agency will help Indian authorities to put in place measures needed ahead of the visit of an EU team to India to ensure the ban on import of Alfonso mango is lifted. Leading NRI Labour MP Keith Vaz said that he has received a letter from Prime...
  • Government cuts import tariff value on gold, silver June 2, 2014

    New Delhi: Government on Monday slashed import tariff value on gold and silver to $408 per 10 grams and $617 per kg respectively, in view of weakness in bullion prices globally. In the second fortnight of May, tariff value on imported gold stood at $424 per 10 grams and silver at...
  • Mango import ban: EU to send high-powered delegation to India June 2, 2014

    London: A high-powered team of scientific experts from the European Commission will visit India in September to check measures put in place by the country in order to help lift the EU ban on the import of Indian mangoes. This was confirmed to Indian-origin Labour MP Keith Vaz, who visited Brussels...
  • Gold tumbles by Rs 800 as RBI eases import curbs May 22, 2014

    Gold prices tumbled by Rs 800 to hit nine-month low of Rs 28,550 per ten grams in the national capital on Thursday after the Reserve Bank eased import norms. Besides, sluggish demand and subdued global cues also weighed on the precious metal prices. Silver in range-bound movements fell by Rs 50...
  • Exports up 3.98 per cent to $312.35 billion in 2013-14 April 11, 2014

    New Delhi: India's exports grew by 3.98 per cent to $312.35 billion in FY 2013-14 while imports dipped by 8.11 per cent during the period. Imports declined to $450.94 billion, narrowing the trade deficit to $138.59 billion in the last fiscal. In FY 2012-13, trade deficit stood at $190.33 billion. However, in...
  • Gold, silver imports dip 40 per cent to $33.46 billion in 2013-14 April 11, 2014

    Gold and silver imports declined 40 per cent to $33.46 billion in 2013-14 mainly due to restrictions imposed by the government on inbound shipments of the precious metal to narrow the current account deficit. Imports of gold and silver in 2012-13 stood at $55.79 billion. In March, the imports of the...
  • Samsung accused of evading Rs 70 crore in import duties March 18, 2014

    New Delhi: Electronics goods giant Samsung has been slapped with a notice by Directorate of Revenue Intelligence (DRI) for allegedly evading import duty to the tune of Rs 70 crore. Samsung India had allegedly imported tablets valuing about Rs 460 crore by declaring them as mobile phones and evaded import...
  • Disappointed with India's decision to cut oil imports: Iran February 28, 2014

    Suhasini Haidar: Hello and Welcome to the exclusive interview on CNN-IBN. With me, Iran's Foreign Minister Javid Zarif. India owes Iran nearly $ 5 billion for oil imports, Iran has been seeking some of that payment. Tell us how your talks went? Javid Zarif: I've just started these talks and they...
  • Bangalore: 54 kg gold seized, largest haul since curbs on metal import March 2, 2014

    Bangalore: Three men were caught in Bangalore on Tuesday after 54 kilograms of illegal gold was seized from them. It's the single largest haul of illegal gold since curbs were imposed on gold import by the Centre to help prop up the falling rupee. "We also came to know that...
  • Trade deficit narrows on 77 per cent drop in gold imports February 11, 2014

    India's trade deficit narrowed in January, helped by a 77 per cent drop in imports of gold and silver while exports ticked up, improving the outlook for the country's fragile current account balance. The trade ministry said it had recommended easing curbs on gold imports, prompted by the brighter trade picture....
  • Restrictions on gold imports to be reviewed by March end, says P Chidambaram January 27, 2014

    The restrictions on gold imports will be reviewed by March end, Finance Minister P Chidambaram said on Monday. "I am confident that by the end of this year we will be able to revisit some of the restrictions on gold import but we will do so only when we are...
  • Energizing India: How can India meets its challenges in the oil sector January 26, 2014

    India needs to march towards becoming energy sufficient country to meet its burgeoning demand for oil and gas falling which its current account deficit will reach unsustainable levels and the economy will be at a risk of collapse. ...
  • Farmers affected by import of poppy seeds from Turkey January 24, 2014

    Unable to get a good price for their cultivation of poppy seeds because of its import from Turkey, the farmers of Malwa and Mewar region have taken up the issue with higher-ups seeking help to end their woes. Poppy seeds, popularly known as 'khus-khus', are primarily used for value addition in...
  • Energizing India: Working towards energy self-sufficiency January 12, 2014

    There has been a lot of buzz on the dwindling output of gas and oil in the country which has landed the economy and the oil and natural gas sector in a crisis. On this show experts discuss the challenges faced by the sector and what needs to be done...
  • Gold comes off all-time high, silver declines during 2013 December 22, 2013

    Gold slipped from its peak level and was poised to end 2013 below last year's closing price after the government increased customs duty to 10 per cent and imposed import restrictions to contain increasing demand for the precious metal. As of December 21, the price of 10 grams of gold had...
  • Major events in the life of Nelson Mandela December 6, 2013

    Nelson Mandela was born to Hendry Mphakanyiswa, a Thembu chief, and Nosekeni Qunu in the Umtata district of the Transkei on July 18, 1918 at a time when virtually all of Africa was under European colonial rule. 1940 - Expelled from University of Fort Hare, a leading institution for blacks, for...
  • Digvijaya Singh urges Central government to stop import of sugar November 30, 2013

    Congress General Secretary Digvijaya Singh said in Bhopal on Friday that the Government of India must take a quick decision on import of sugar. Import of raw sugar should be stopped and export of sugar should be opened up and incentivised, he tweeted on Twitter. At prevailing prices, the sugar industry...
  • Chinese imports hit Kosa silk trade in Champa November 16, 2013

    Rise in imports of silk yarn from China, the result of an insufficient supply of quality silkworms, is fast becoming a cause of concern for weavers and traders in Chhattisgarh's Champa, renowned for the 'Kosa' brand of high-quality silk. Those associated with the industry in Champa say they have no option but...
  • October trade deficit jumps to 10.56 billion dollar November 11, 2013

    India's trade deficit jumped in October after having fallen to a two-and-a-half-year low the previous month, as overseas purchases of gold picked up ahead of the festival season, provisional government data showed on Monday. The deficit for the month stood at 10.56 billion dollar, compared with 6.7 billion dollar in September,...
  • KV Thomas to meet Sharad Pawar as onion prices touch Rs 100 per kg October 24, 2013

    New Delhi: Despite a sharp drop in onion prices at the wholesale markets, retail prices in most cities continue to hover around the Rs 100-mark. Food Minister KV Thomas will meet Agriculture Minister Sharad Pawar on Thursday to discuss the options before the government. Delhi Chief Minister Sheila Dikshit will...
  • Will food inflation haunt UPA 2 government in an election year? October 22, 2013

    In one of the first measures by the government, it has been decided that tenders will be floated for the urgent import of onions from abroad as the onion prices touch Rs 100 in several cities across India. ...
  • Chidambaram rules out lifting ban on import of gold coins October 22, 2013

    Finance Minister P Chidambaram on Tuesday ruled out the possibility of lifting a ban on import of gold coins and medallions and asked banks to strictly follow guidelines restricting inward shipments of the metal. "Import of gold coins and gold medallions is prohibited. Nobody can import gold coins and medallions," he...