Mumbai: The steep fall in rupee may put some inflationary pressures on the economy as the cost of imports will go up, experts said on Thursday. "Though crude prices have been falling in recent past, decline in the rupee is offsetting its positive impact. I feel, the current spate of depreciation of the rupee is somewhat inflationary due to rise in import costs," Crisil Chief Economist DK Joshi said. The...
09:38 PM, May 17, 2012
New Delhi: India has become the largest importer of arms, surpassing the Chinese share of five per cent of global arms imports during 2007-11, government told the Rajya Sabha on Wednesday. "As per a report published in March 2012 by the Stockholm International Peace Research Institute (SIPRI), India has become the largest importer of arms during 2007-11 and accounted for 10 per cent of global arms import as compared to...
03:48 PM, May 16, 2012
New Delhi: The US has denied allegations of bullying India to cut oil imports from Iran. Speaking exclusively to CNN-IBN's Suhasini Haider, US Ambassador Nancy Powell said one of their diplomats had been misquoted on the issue. Following is an excerpt of the interview: Suhasini Haider: India still faces financial sanctions from the US on the subject of Iran. India has month cut its oil imports by 34 per cent....
09:02 AM, May 16, 2012
New Delhi: Succumbing to US pressure, India has decided to cut crude oil import from Iran by over 11 per cent this fiscal to 15.5 million tons. India, which imports 80 per cent of its crude oil and relies on Tehran for 12 per cent of those imports, shipped 18.50 million tons of oil from Iran in 2011-12, Minister of State for Petroleum and Natural Gas RPN Singh said in...
02:13 PM, May 15, 2012
New Delhi: It is the third and final day of US Secretary of State Hillary Clinton's visit to India. She will hold a breakfast meeting with External Affairs Minister SM Krishna on Tuesday before heading back home. India is expected to seek clarity from the US on the bounty on Jamaat-ud-Dawa chief Hafiz Saeed. The Iran issue is also likely to be discussed. India runs the risk of facing sanctions...
07:45 AM, May 08, 2012
New Delhi: India's trade deficit is seen at $185 billion in the 2011/12 fiscal year on higher crude import bill, the trade minister said citing provisional data, which may worsen the country's current account balance and further weaken the rupee. Asia's third-largest economy imports nearly 80 per cent of its crude oil needs, leaving it vulnerable to the vagaries of the oil market. "The trade deficit is primarily because of...
02:47 AM, Apr 14, 2012
Mumbai: Jewellers plan to continue their strike, hurting demand and halting imports of gold and silver in the world's biggest buyer of bullion, an industry body head said on Monday. "We are still striking... We are expecting to hear from the finance minister in a day or two," said Baccharaj Bamalwa, chairman of All India Gems and Jewellery Trade Federation. The strike had started on March 17, a day after...
11:35 AM, Apr 02, 2012
Washington: The US is in touch with several countries including India and Turkey to how to "significantly reduce" their dependence on Iranian oil to avoid American sanctions in this regard, a State Department official said. "We are working hard with India to see if we can help with regard to reducing the country's dependence and the dependence of any of the other countries on Iranian crude, and looking at alternative...
08:26 AM, Mar 23, 2012
Mumbai: If crude oil prices continue to rise, India will be impacted by not only higher inflation and trade deficit, but by subsidies, and any move towards easing monetary policy will have to take this into consideration, rating agency Care said on Tuesday. "The easing of monetary policy will have to be reviewed in case (oil) prices start going up. Our country in particular will be affected by just not...
08:52 PM, Feb 28, 2012
Chicago: India has stood up to the US saying it will not cut its oil imports from Iran despite America and European Union's sanctions against Tehran. Finance Minister Pranab Mukherjee boldly made this clarification during his visit to the US on Sunday. Mukherjee's clarification came just a day before Foreign Ministers of the EU meet in Brussels on Monday to decide on the embargo. Washington wants buyers in Asia, which...
08:14 AM, Jan 30, 2012
New Delhi: In its race to join the club of international powers, India has reached another milestone - it's now the world's largest weapons importer. A Swedish think tank that monitors global arms sales has said that India's weapons imports had overtaken China's, as the South Asian nation pushes ahead with plans to modernise its military and gain international clout. "India has ambitions to become first a continental and (then)...
08:20 PM, Mar 13, 2011
The April-July period is the peak domestic season, comprising both festivals and marriage. ...
05:48 PM, May 25, 2010
ZTE Corp wants restrictions on imports of Chinese-made telecom equipment to go. ...
04:12 PM, May 13, 2010
New Delhi: Sugar prices are all set to touch Rs 40 a kilogram, thats roughly double of what it cost last year. And this is bad news not just for consumers but also for the government that faces elections in Maharashtra in a month. Increasing the price of sugar is not only due to the shortage of sugar but also because of the ever-increasing international price of sugar, Agriculture Minister...
03:25 AM, Sep 02, 2009
Exports dropped to $11.01 bn in May from $15.55 bn same month last year. ...
09:08 PM, Jul 01, 2009
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