The shipment earlier bound for Gujarat’s Vadinar has changed course amid payment concerns; could still reach India if issues are resolved, according to Kpler.
Iran’s influence has diminished in recent years due to prolonged sanctions and limited foreign investment. The country accounts for about 3% of global supply
Mumbai-based Tibalaji Petrochem Pvt. Ltd. sanctioned for importing 'millions of dollars' worth' of petrochemical products from Iran and exporting them to China.
Iran has been subject to US sanctions since 2018, when the Trump administration unilaterally withdrew from a deal that restricted the Middle Eastern country’s nuclear activities.
The incoming Joe Biden administration will take time to lift Trump’s sanctions and return to the Iran nuclear deal, so India is adopting a cautious approach.
Repeated changes in cotton import duty have prioritised textile competitiveness when mills face high input costs. But policy can also put pressure on farmgate prices.
COMMENTS