IMPORT STATISTICS
'A time bomb is ticking': Zerodha's Nithin Kamath sounds alarm for young Indian men and women
Zerodha CEO Nithin Kamath raises concern about the increasing number of diabetes cases in India. He highlights the alarming statistics and the urgent need for action. Kamath emphasizes the importance of lifestyle changes and public awareness campaigns. He calls for government initiatives to tackle the issue and improve access to affordable healthcare.
Govt's import curbs to impact any industry: HPE's Antonio Neri
Houston-based HPE has been part of the US-India commercial engagements, pushing to get the right balance in regulation. The global edge-to-cloud company works in servers, storage, networking, containerisation software, consulting and support.
Apr-Sept coal imports up a tad at 129.5 MT
India's coal imports saw a slight year-on-year increase of 1.4%, reaching 129.5 million tonnes in the first half of the fiscal year. However, the value of these imports decreased, resulting in savings of ?13,629 crore due to cost-effective procurement strategies. The government remains committed to reducing reliance on imported coal by boosting domestic production and improving logistics.
Majority of steel imports under FTAs, making any duty hike ineffective, says steel secy
India's steel industry is grappling with a surge in imports, primarily from countries with free trade agreements (FTAs). These duty-free imports constitute a significant portion of total steel imports, rendering tariff adjustments ineffective in curbing the influx. Despite increased demand, the surge in imports has led to a supply glut, impacting domestic steel producers.
Import of coal by non-regulated sectors, domestic thermal power plants drops in April-September
India's non-regulated sectors, including power plants, significantly reduced coal imports by 9.83% during April-September 2024, signaling a shift towards domestic coal reliance. However, imports of coking coal for steel production and coal for specialized power plants increased. Overall, coal imports rose marginally, but their total value decreased, saving India Rs 13,628.73 crore.
Trump and Musk aim to cut the U.S. Federal Budget: Which American workers risk losing their jobs with this reform?
President-elect Donald Trump has tasked Elon Musk and Vivek Ramaswamy with finding significant cuts in the federal budget, potentially impacting the 2.3 million civilian federal workers. Their proposals, including a 30% spending reduction and halving the workforce, raise questions about the future of government agencies and the livelihoods of federal employees.
Rail container traffic to get own terminals
India is establishing 23 exclusive container rail terminals to enhance the movement of export-import cargo. Private concessionaires will receive favorable financial terms to develop these terminals, which will prohibit bulk cargo handling. The initiative aims to boost container loading on Indian Railways and increase revenue.
Imports from UAE up 70 pc in October to USD 7.2 bn: Comm min data
India's imports from the UAE surged by 70.37% to USD 7.2 billion in October, resulting in a trade deficit of USD 3.5 billion. This surge in imports, primarily in silver, platinum, and dry dates, has prompted India to raise concerns with the UAE, urging them to ensure adherence to the Free Trade Agreement.
China October industrial output rises 5.3%, misses expectations
China's industrial output expanded at a slower-than-anticipated 5.3% in October, while retail sales surpassed expectations with a 4.8% increase. Despite the uptick in consumer spending, the lagging industrial growth underscores persistent concerns about the country's economic recovery and fuels the demand for additional stimulus measures.
China top import source for India during Apr-Oct 2024: Commerce min data
India's top import source was China, reaching USD 65.89 billion between April and October. The US became India's primary export destination with USD 47.24 billion in outbound shipments. Russia and the UAE were among the top import sources, while exports to the UAE saw a significant increase. The US was India's largest trading partner during this period.
India has the highest number of diabetic people in the world, even more than China: Report
A new study reveals that over 800 million adults worldwide have diabetes. India leads the world with 212 million cases, followed by China with 148 million. The US has 42 million cases. The global diabetes rate has doubled since 1990. The study used data from over 140 million people across more than 1,000 studies.
US consumer inflation picks up to 2.6% in October
U.S. consumer prices rose by 0.2% in October, marking the fourth consecutive month of increase at this rate. This trend signals a slowdown in the progress against inflation, potentially impacting the Federal Reserve's interest rate decisions in the coming year.
India's April-October finished steel imports at seven-year high
India's finished steel imports hit a seven-year high during April-October, reaching 5.7 million metric tons, as the country became a net importer. This surge was driven by strong domestic demand, particularly from infrastructure and automotive sectors, while exports slumped to a seven-year low. China emerged as the top exporter of finished steel to India during this period.
Centre may ask hardware companies to cut their total import bills by 5%
Although stakeholder discussions are still going on, the 5% cut of the total import quota will be implemented from April 1 of the upcoming fiscal. This cut is based on the data provided by the Directorate General of Commercial Intelligence and Statistics.
India, Saudi Arabia top buyers of Russian VGO and fuel oil in October, LSEG data shows
Russian fuel oil and vacuum gasoil (VGO) exports dipped 3% in October, with India and Saudi Arabia emerging as top recipients. While Saudi imports dipped, India's intake surged as it sought cheaper alternatives to Urals crude. China, another major importer, saw a decline amidst potential tax reforms impacting fuel oil demand.
Think about Australian Cricket: Gautam Gambhir hits back at Ricky Ponting¡¯s 'concerns' over Rohit and Virat¡¯s form
Indian head coach Gautam Gambhir has brushed aside Ricky Ponting's concerns over the form of Rohit Sharma and Virat Kohli ahead of the Border-Gavaskar Trophy. Gambhir expressed confidence in the Indian duo's ability to bounce back, emphasizing their hard work, passion, and hunger to succeed.
Number of EPFO subscribers up 7.6% at 73.7 million in 2023-24
As per the draft annual report of EPFO for 2023-24, approved by the labour secretary Sumita Dawra-led executive committee of the central board of trustees of EPFO, the number of contributing establishments under the retirement fund body went up by 6.6% to 0.76 million as against 0.71 million in 2022-23. The CBT of EPFO will consider and approve the report at its upcoming meeting on November 23.
India's Oct palm oil imports hit 3-month high on festive demand, dealers say
India's palm oil imports saw a significant 59% increase in October, reaching a three-month high. This surge was driven by refiners restocking after lower imports and increased demand during recent festivals like Dussehra and Diwali. While palm oil imports rose, soyoil imports decreased, and sunflower oil imports increased due to previously delayed shipments.
US trade deficit widens sharply in September
The US trade deficit increased significantly in September. Businesses increased imports to satisfy strong domestic demand. They also anticipated higher tariffs on products. The trade gap reached $84.4 billion, up from $70.8 billion in August. Exports also declined during this period. The economy expanded at an annualized pace of 2.8% in the third quarter.
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