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Import

Reliance gets US licence to import Venezuelan oil without violating sanctions: Reports

OpIndia Staff -
Reliance obtaining a general licence would mean accelerated Venezuelan oil exports and cut crude costs for the operator of the world's biggest refining complex, Reuters reported, adding that Reliance applied for the licence in January this year.
Economy and Finance

India set to slash tariff on cars imported from EU countries to 40% from 110% under ‘mother of all deals’

OpIndia Staff -
As India and the European Union are set to sign the ‘mother of all trade deals’ soon, India is reportedly preparing to reduce tariffs...
Government and Policy

Atmanirbhar Bharat: Indian electronics industry gives positive response to PM Modi’s call to reduce imports, lists 16 products for domestic manufacturing

OpIndia Staff -
PM Modi had emphasised the need to enhance the self-reliance of the country and ensure zero-defect products with minimal environmental impact.
News Reports

’1.4 billion people and not even buying a bushel’: As Lutnick whines over India refusing to import US corn, here is why we don’t...

Sanghamitra -
Almost all US corn is from genetically modified crops. India does not allow the import of GM crops unless specifically approved by the relevant authorities. This makes a large volume of US corn restricted for Indian import.
News Reports

The US has been importing Russian fertilizers and metals worth billions of dollars: How Trump’s threats on India-Russia relations are removed from reality

Chandrani Das -
Despite ongoing hostilities, the United States continues to import Russian goods worth billions of dollars
News Reports

Modi government bans import of readymade garment, processed food, cotton, plastic items and wooden furniture through land ports from Bangladesh

OpIndia Staff -
The Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, has issued a notification imposing port restrictions on the import of certain goods such as Readymade garments, processed food items etc., from Bangladesh to India.
News Reports

US announces reciprocal tariffs against India, China to be effective from April 2

OpIndia Staff -
Justifying reciprocal tariffs, the US President said that other countries have been unfairly taxing the US and therefore now it is the turn of the US to tax them.
Economy and Finance

Donald Trump terms Elon Musk’s decision to set up Tesla car manufacturing unit in India as ‘unfair’ to the US

OpIndia Staff -
Tesla has identified two locations in New Delhi and Mumbai for setting up car manufacturing units in India. The company has also advertised 13 mid-level job posts.
News Reports

India’s trade deficit likely to come down by over USD 1 billion from USD 21.94 billion in December, says Union Bank of India report

ANI -
India's merchandise trade deficit is expected to have narrowed to USD 20.88 billion in January 2025, down from USD 21.94 billion in December 2024, according to a report by Union Bank of India.
News Reports

Bangladesh to buy 200,000 tonnes of rice from India with plan of additional 100,000 tonnes, first consignment of 27,000 tonnes reaches Chittagong port

ANI -
Bangladesh interim government has started importing rice from India. The first consignment of 27,000 tonnes of rice has arrived through Chittagong port
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