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India retained protection on corn and soybean, both GM crops in US, but agreed to import dried distillers’ grains and red sorghum for animal feed, tree nuts, fresh and processed fruits, soybean oil. Farm organisations say DDG comes from GM corn and questioned allowing import of soybean oil. RSS-linked BKS too sought a clarification. Farm…
NEW DELHI: India imported crude worth $2.7 billion from Russia in Dec 2025, the lowest monthly import from the country since Feb last year, reflecting the impact of the US imposing sanctions on Russian oil majors Rosneft and Lukoil — two major contributors to oil exports to India.The US had announced sanctions on the two…
Commerce Secretary Rajesh Agrawal (Photo-PTI) The Budget FY27 proposal to allow Special Economic Zone (SEZ) units to sell goods in the domestic market at concessional duty rates is expected to boost import substitution and generate employment, Commerce Secretary Rajesh Agrawal said, adding that detailed operational guidelines will be rolled out in the next two to…
Shopping overseas? Duty cut feeds import impulse Shopping overseas will cost you less from April as the amount of tax you pay on foreign goods to get them to India is getting reduced. The budget has proposed to lower the tariff rate (basic customs duty) on all dutiable goods imported for personal use from 20%…
India’s gold and silver imports surged to record levels in 2025, ringing alarm bells in government and policy circles as soaring precious metal prices threaten to widen the trade deficit and add fresh pressure on the rupee. With limited policy tools available, officials and market participants told Reuters raising import duties is once again emerging…
New Delhi: It’s advantage Mercedes, BMW and Audi. The FTA will reduce import tariffs for cars that cost upwards of Rs 25 lakh from EU from a high of 110% to 30% in the first year, to 10% in 10 years, with a quota of 2.5 lakh vehicles annually.Tesla, however, will have to wait for…
India is planning a major reduction in import tariffs on cars from the European Union, cutting duties to 40 per cent from levels as high as 110 per cent, in what would be the country’s biggest opening yet of its closely guarded automobile market. The move comes as New Delhi and Brussels close in on…
NEW DELHI: India’s import of Russian crude recorded a sharp 29% month-on-month decline, falling to the lowest volumes since implementation of the price cap policy, but is making a strong turnaround in January this year, Centre for Research on Energy and Clean Air (CREA) said in its monthly analysis of Russian fossil fuel exports for…
The Confederation of Indian Textile Industry (CITI) has urged the government to permanently remove the 11 per cent import duty on cotton in the Union Budget 2026, warning that the levy is aggravating cost pressures and hurting the global competitiveness of domestic textile and apparel manufacturers, PTI reported.A CITI delegation met Union Agriculture Minister Shivraj…
NEW DELHI: GST collections rose 6.1% to Rs 1,74,550 crore, driven by a surge in levies on imports. The numbers, that do not include compensation cess, which has been withdrawn for all goods barring tobacco and pan masala, provide confidence to govt that the mop up (for sales in Nov) has increased despite an overhaul…
