India offset the decline in exports to traditional destinations by sharply ramping up shipments to Jordan (18,086 per cent), Hong Kong (17,006 per cent), Spain (13,436 per cent), the Philippines (2,235 per cent), and Namibia (1,068 per cent) in H1FY26.
Where are the most oil reserves in the world? Who owns them? Find out!
India's exports to the US contracted 8.6 per cent to $6.3 billion in October, while imports rose 13.9 per cent to $4.5 billion leading to a trade surplus of $1.8 billion during the month.
India and the European Union (EU) on Tuesday announced the conclusion and finalisation of negotiations for the proposed free trade agreement (FTA).
The Kremlin has stated that India is free to purchase oil from any country, dismissing claims that India agreed to reduce Russian oil imports. Russia maintains that energy trade with India benefits both nations and contributes to international energy market stability.
The country's exports rose marginally by 0.61 per cent to $36.56 billion in January, while trade deficit widened to a three-month high of $34.68 billion, government data showed on Monday.
India's exports jumped by 19.37 per cent to $38.13 billion in November, while imports dipped by 1.88 per cent to $62.66 billion, according to government data released on Monday.
India will now face a lower reciprocal tariff of 10 per cent, down from 25 per cent, after US President Donald Trump announced a new global levy on items imported into America in the wake of the Supreme Court verdict against his sweeping duties on several nations.
Private-sector oil refiner Reliance Industries Limited (RIL) last week received a general licence from the United States (US) government to buy Venezuelan oil, an industry executive said.
Gold imports climbed 349.22 per cent to $12.07 billion in January, while silver imports rose 127 per cent to $2 billion.
Analysts predict India will face oil price volatility and macroeconomic effects due to the escalating Iran crisis, though the country's oil supply chain is not yet structurally insecure.
India's exports contracted 11.8 per cent to $34.38 billion in October, showed government data released on Monday. Imports jumped 16.63 per cent to $76.06 billion.
Will rising tensions between US-Israel and Iran threaten crude oil supply through the Strait of Hormuz, putting India's fuel prices, imports, and economic stability at risk?
India will restrict crude oil purchases from Russia as part of an agreement reached with the US in exchange for lower trade tariffs, sources said, adding imports will continue for now by refiners such as Nayara Energy, which have no other alternative source. US President Donald Trump announced overnight that the United States will cut the reciprocal tariff on imports of Indian goods to 18 per cent from 25 per cent under a broader bilateral understanding.
A 500 per cent tariff would effectively shut out India's goods and services exports to the US.
India and the European Union are set to announce on January 27 the conclusion of negotiations and finalisation of a free trade agreement, which is aimed at boosting economic ties between the two regions amid disruptions in global trade due to US tariffs, an official said.
After a three-month slowdown, India's oil imports (already landed) from Russia bounced back in the first 15 days of October to 1.8 million barrels per day.
India's merchandise trade deficit widened to a record $41.68 billion in October, as gold imports trebled and outbound shipments registered their sharpest contraction in 14 months, according to data released by the commerce department.
'The immediate impact for India will be very minimal as the share of Venezuela in our total overseas production is very low.'
Problems at refineries, higher home demand for automobile fuels among main reasons.
In a culture where children take up the profession of their father, her becoming a politician was seen as natural and acceptable.
New Zealand Prime Minister Christopher Luxon on Monday said the negotiations for a free trade agreement with India have been concluded.
The fiscal tilt towards capex benefits companies in investment-related sectors like capital goods, defence equipment, engineering & construction and metal & mining. The planned cut in revenue expenditure will weigh on companies in consumption sectors like FMCG, consumer durables and retail.
Russian President Vladimir Putin's visit to India this week aims to secure energy supplies, stabilise defence deliveries and ensure bilateral trade continues smoothly despite strong Western sanctions, GTRI said on Tuesday.
India's goods exports rebounded in July after two months of contraction, with outbound shipments rising 7.3 per cent to $37.24 billion, led by a surge in exports to the United States before the country's reciprocal tariff kicked in and bolstered by a recovery in exports to other key markets.
Next week's three-nation foreign tour of Prime Minister Narendra Modi will see India and Oman sign a free trade deal. The visit will also pave the way for agreements with Ethiopia and Jordan to increase India's bilateral trade and investments.
The Trump administration has sanctioned entities and individuals from India involved in sales of Iran's petroleum and petroleum products, saying the funds from this trade support Tehran's regional terrorist proxies and procure weapons systems that are a direct threat to the US.
State-owned Bharat Petroleum Corporation Ltd (BPCL) is willing to dilute a 30-40 per cent stake in its upcoming greenfield refinery in Andhra Pradesh, with Gulf energy major Saudi Aramco and upstream player Oil India Ltd (OIL) likely to join as partners, a senior BPCL executive said.
Under the defence partnership, India and the UAE are eyeing defence industrial collaboration and cooperation in advanced technologies, cyberspace training, special operations, interoperability of their militaries and counter terrorism.
Merchandise exports to the US jumped 23.5 per cent year-on-year (Y-o-Y) to $8.3 billion in June, even as India's overall outbound shipments witnessed contraction during the month, according to the data released by the commerce department on Tuesday. The increase in outbound shipments to the US was largely driven by the rush among exporters to utilise America's pause on its plans to impose country-specific reciprocal tariffs.
The US government, under President Trump, justifies the intervention as a security necessity rather than a resource grab. The primary official reasons include: narco-terrorism charges, national security and migration crisis.
Despite a strong 7.8 per cent growth in the first quarter, the Indian economy is expected to grow at 6.5 per cent in the current financial year as the impact of US tariffs on Indian exports will reduce prospects, particularly in the second half, ADB said on Tuesday.
The latest decision of the Organisation of Petroleum Exporting Countries and its allies, commonly known as Opec+, to boost output is being seen as an attempt to regain market share lost to the US, Brazil, and other oil producers, who have been increasing production recently.
India's smartphone exports surged nearly fivefold to the US and about fourfold to Japan in the past three years, propelling the segment to surpass petroleum products and diamonds as the country's top exported goods, according to government data. The smartphone exports rose by 55 per cent to $24.14 billion in 2024-25 from $15.57 billion in 2023-24 and $10.96 billion in 2022-23.
After registering a positive growth for two months, India's exports slipped into negative territory again, contracting 2.17 per cent year-on-year to $38.73 billion in May due to a fall in global petroleum prices, while trade deficit narrowed at $21.88 billion during the month.
India's merchandise exports dipped by about one per cent to $38.01 billion in December 2024 against $38.39 billion a year ago, according to government data released on Wednesday. Imports increased by 4.8 per cent to $59.95 billion in December 2024 compared to $57.15 billion in the year-ago month.
US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now.
The Iran-Israel conflict has further increased global economic uncertainties, impacting world trade, including India's exports, as it is expected to drive up both air and sea freight rates, exporters say. They said that India's exports to Europe and counters like Russia may get impacted due to this war.
'Crude oil prices are around $66-67 per barrel now but could fall to $55-60 if global disturbances ease.'
Indian rupee slipping below the record 88 level against the US dollar will enhance price competitiveness of Indian products in global markets and help exporters diversify beyond the US market, say exporters. However, import-dependent sectors such as gems and jewellery, petroleum and electronics may see lower benefits due to a rise in input costs, they stated.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances