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RBI increases diamond imports' credit time to 180 days

Last Updated: Monday, July 07, 2014, 19:28

The Reserve Bank has relaxed norms governing import of rough, cut and polished diamonds by doubling the credit time period to 180 days.

Gold swaps to cut imports, ease payment pressure

Last Updated: Thursday, July 03, 2014, 22:38

A plan by the Reserve Bank of India (RBI) to swap old gold in its vaults for purer metal abroad that it could pledge or sell would have the added benefits of reducing gold imports and easing pressure on the balance of payments.

Import ban on milk items from China extended by one year

Last Updated: Tuesday, June 24, 2014, 14:12

The government has again extended the ban on imports of milk and its products from China for one more year till June 2015.

India's energy imports may rise to $230 billion by FY23: Goldman

Last Updated: Friday, June 20, 2014, 13:56

India's annual energy import bill could jump to USD 230 billion by FY'23 from the current USD 120 billion but could get reduced significantly by switching from oil to natural gas and improving conservation, says a Goldman Sachs report.

Gold jewellery exports in FY15 seen jumping by a quarter

Last Updated: Wednesday, June 18, 2014, 17:51

Gold jewellery exports from India are likely to grow by a quarter in the year to March 2015, helped by an expected relaxation of import policy and recovering demand from major consuming countries, the head of a trade body said on Wednesday.

Gold premiums fall to 4-month low on higher supplies

Last Updated: Wednesday, June 18, 2014, 12:50

Gold premiums fell to 25-30 an ounce on London prices, a level last seen in February, from USD 60 charged earlier in June. Premiums hit a record of USD 160 an ounce in December last year.

Heatwave boosts India coal imports: Report

Last Updated: Tuesday, June 17, 2014, 14:39

Coal feeds more than half India`s power generation and its share is growing despite a local shortage of the fuel.

Services exports in April at $13.63 bn

Last Updated: Sunday, June 15, 2014, 11:44

India's services export in previous fiscal stood at 167.01 billion while services imports in FY'14 were at USD 88.19 billion.

Mining output fell in 2000s on higher imports: Report

Last Updated: Wednesday, June 11, 2014, 22:27

The mining sector witnessed a marked fall in output growth rate in the 2000s as mainly increased domestic demand for crude oil was being met through imports, says a report.

India's gas production to stagnate without pricing reforms: IHS

Last Updated: Wednesday, June 11, 2014, 17:44

IHS said low regulated gas prices have precipitated a supply shortfall in India, but proposed that reforms to the pricing formula could yield higher domestic production and boost India's economy.

Exports rise most in 6 months; up 12.4% at $28 billion in May

Last Updated: Wednesday, June 11, 2014, 12:33

Trade deficit stood at USD 11.23 billion in May compared to USD 10.1 billion in April, and USD 19.37 billion in May 2013.

Shrouding China''s gold trade, more imports go under radar

Last Updated: Wednesday, June 11, 2014, 11:39

Banks have started trial gold imports directly into the Shanghai free trade zone ahead of the launch of a gold exchange there, threatening to further obscure the level of buying by the world`s top consumer.