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Modi to bet $1.5 billion on palm oil plan as imports surge

Modi to bet $1.5 billion on palm oil plan as imports surge

India plans to spend $1.5 billion in the next three years to help farmers grow oil palm trees in an area the size of New Jersey, government sources said, with Prime Minister Narendra Modi pushing to make the nation self-sufficient in edible oils this decade.

'Removal of benefits in foreign trade policy to hit exports'

Removal of benefits on exports to African countries in the new foreign trade policy will affect shipments of value added products like cotton dyed and printed fabrics, textile industry body said on Tuesday.

Exports dip 20.19% in May; down 6th month in a row

Exports dip 20.19% in May; down 6th month in a row

Trade deficit narrowed to a three month low of USD 10.4 billion in the month under review compared with USD 11.23 billion in May 2014, according to data released by the commerce ministry.

Exports decline 14% in April; 5th straight month of contraction

Raising fresh concerns about economic growth, India's exports contracted by about 14 percent in April to USD 22 billion due to a sharp dip in petroleum, gems and jewelery shipments, registering decline for the fifth straight month.

State-run oil firms keen to snap up overseas assets: Minister

State-run oil firms looking at buying oil and gas assets aboard.

Exports contracts 14% in Apr to $22 bn

The slump in exports is mainly due to global slowdown, dip in crude oil prices and rupee appreciation.

Exports dip sharply in March; 2014-15 target missed

Falling exports and an increase in gold imports have widened the trade deficit to four-month high of USD 11.79 billion in March.

Trade deficit widens to $137 billion in FY15

India’s exports contracted by 21.06 percent to USD 23.95 billion, while imports also fell by 13.44 percent to USD 35.74 billion in March.

Make India energy sufficient, cut imports: PM

Make India energy sufficient, cut imports: PM

Modi said plans are afoot to provide piped gas connection to 1 crore households in the next four years from 27 lakh presently.

Modi says India should try to cut oil imports by 10% by 2022

Prime Minister Narendra Modi said on Friday India should try to cut oil imports by 10 percent in 2022 from 77 percent now.

India owes Iran $8.8 billion for oil - minister

India owes about $8.8 billion for oil imports from Iran, India`s trade minister said on Friday, as economic sanctions imposed over Tehran`s nuclear programme have cut its access to the global banking system and hit its oil revenue.

India asks refiners to cut Iran oil imports ahead of Obama visit: Sources

India has asked its refiners to slash oil buys from Iran in the next two months to keep the imports in line with the previous fiscal year`s levels, sources with knowledge of the matter said, days ahead of President Barack Obama`s visit to New Delhi.

Trade deficit falls to 10-month low of $9.43 billion in December

India's trade deficit declined to 10-month low of USD 9.43 billion in December mainly on account of falling imports due to slump in crude prices, though exports too have come down.

Disappointed with India`s decision to cut oil imports: Iranian minister

Iranian Foreign Minister Javad Zarif has acknowledged that Tehran was "obviously disappointed" with India`s decision to cut oil imports following US sanctions.

Iran not open for business: US officials

An interim nuclear deal with Iran that allows limited sanctions relief does not mean that the Islamic republic is "open for business", senior US officials said.

US, allies relax sanctions as Iran begins curbing its N-programme

The US and its allies on Monday relaxed a range of economic sanctions against Iran.

Nov trade deficit narrows on falling gold, oil imports

Merchandise exports rose by 5.86 percent year-on-year in November to USD 24.6 billion.

‘China to replace US as world's largest oil importer’

Energy-hungry China would replace the US as the world's largest oil importer by the 2020s followed by India, according to a report that said emerging economies are poised to claim most of the global energy supplies.

Southeast Asia's net oil imports to more than double by 2035

Southeast Asia's net oil imports will more than double by 2035, costing USD 240 billion at today's prices, to meet strong energy demand growth to fuel the region's fast-growing economies, the International Energy Agency (IEA) said on Wednesday.

Diesel price may be hiked by Rs 3-5 a litre, LPG by Rs 50

A 25 percent drop in rupee value has resulted in losses on diesel sales widening to Rs 10.22 per litre despite prices being raised by 50 paise a litre every month since January.