India's exports increased by 15.5 per cent to USD 40.41 billion in June, but the trade deficit significantly widened to a record USD 30.43 billion due to a 31 per cent surge in imports.
India's exports reached a six-month high, growing by 18 per cent to USD 45.2 billion in May, driven by electronic goods, petroleum products, engineering items, and pharmaceuticals. However, the trade deficit widened to USD 28.21 billion due to a 10 per cent rise in imports, particularly petroleum products and gold, amidst surging crude oil prices.
'After we were alerted about the war, none of us could sleep for the next two nights while sailing through those waters.'
The India-Oman free trade agreement, operationalised on June 1, is set to create significant export opportunities for India's labour-intensive and value-added sectors, including textiles, gems and jewellery, and marine products, while also strengthening energy security.
'The next two to three weeks will not be decided in Washington.' 'They will be decided in Tehran, in whatever calculation Iran makes about the costs of continued resistance against the costs of appearing to have yielded.'
The shipping business is like the heaving sea -- it's up and down, observes Shyam G Menon.
The Navy on Thursday pulled out its warship from escorting MV Suez, released by pirates, towards Salalah port in Oman after the Egyptian vessel, under the command of a Pakistani national, did not respond to its calls.
The crew of an Egyptian freighter including six Indians, released by Somali pirates on Monday, came under renewed attack by the sea brigands on Wednesday as they sailed in the pirate-infested Somali waters on way to a port in Oman. However, there was no report of any casualty. While the 22-member crew of MV Suez faced the threat of being retaken, the Directorate General of Shipping said the Indian Navy is coordinating with other navies for the safe passage of the ship.
The arrival of Egyptian cargo vessel M V Suez, which was released by Somali pirates after ten months of captivity, has been delayed at the Omanese port of Salalah due to insufficient fuel, the directorate general of shipping said on Saturday.
The MV Suez's 22-member crew, including six Indians, were on Sunday transferred to a Pakistani warship when the Egyptian merchant vessel, which was recently released by Somali pirates after payment of ransom, began taking on water in the Arabian Sea.
Nine Indian sailors, who were rescued from an ill-fated 'dhow' that sank nearly 90 nautical miles southeast of Al Mukalla coast in Yemen, have safely reached Oman, according to a report.
Six sailors, including two Indians, died while 13 others were rescued after an UAE company owned cargo vessel sank off the Yemeni island of Socotra in the Indian Ocean due to bad weather.
