Between January and May this year, India-US goods trade touched $55.57 bn compared to $40.27 bn in the same period in 2019. Experts say surge largely driven by Indian exports to US.
The price of West Texas Intermediate crude has fallen to just over $105 from more than $122 earlier this month — raising hopes that pressures may ease at the gas pump.
Merchandise exports touched $301.38 billion in April-December 2021, a 26.49% increase over same period in 2019. Imports touched $443.82 billion for the same period, a 21.87% increase.
As edible oil prices hit record highs, govt reduced duty on crude palm oil to 10% from 15%. To further cool down prices, licence-free import of palm oil products was allowed till 31 Dec.
Exports of sectors such as engineering, gems and jewellery and petroleum products recorded healthy growth rates. During the same period, imports too rose by 98.33% to $19.59 billion.
Imports rose by over three-folds to $45.45 billion last month as against $17.09 billion in April 2020, according to data released by the commerce ministry.
US sanctions on Russia as well as its determination to paint Vladimir Putin as the bad guy is driving Moscow into Beijing’s arms. Make no mistake, this is a willing embrace.
India hasn’t signed the RCEP, leading to concerns that it will get isolated. But it’s a China-centric deal that would have few advantages for India’s exports.
For all their colonial underpinnings, postcards from Hyderabad also inadvertently preserve a trace of local memory: a glimpse of a street, a face, a forgotten name.
Indian toymakers are now exploring new markets, but they want govt to negotiate a trade deal with US soon, introduce incentives and subsidies to make the industry more competitive.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Now that both IAF and PAF have made formal claims of having shot down the other’s aircraft in the 87-hour war in May, we can ask a larger question: do such numbers really matter?
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