The contraction in August was higher than in July (10.21 per cent) and June (12.41 per cent). Oil imports also declined by 41.62 per cent to $6.42 billion in the month.
There is no way Indians can live without most of the 8,000-odd stuff the country imports from China. So it's just better to wait for the tensions at LAC to simmer down.
The Modi govt has tried to avoid labels of protectionism, but one can see presence of import-substitution policies in the govt’s post-Covid-19 stimulus package.
Despite being the leading supplier of medicines across the globe, Indian pharma industry heavily depends on China for ingredients used to make even basic drugs.
India has been cutting down on imports from Malaysia after the country's PM Mahathir Bin Mohamad made statements against New Delhi’s Kashmir policy and the CAA.
To boost exports, India must accept its challenge is internal, even though it keeps raising fingers at unfavourable external factors like trade protectionism.
Govt brings import of palm oil & palmolein under 'restricted category'. Move will be big setback for Malaysia from where India imports bulk of the product.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
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?
COMMENTS