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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102140) | |
23251. India plans to cut Saudi oil import as Riyadh ignores calls from New Delhi
- Indian state refiners are planning to cut oil imports from Saudi Arabia by about a quarter in May In an escalating stand-off with Riyadh following OPEC's decision to ignore calls from New Delhi to help the global economy with higher supply. Two sources familiar with the discussions said the move was part of the government's drive to cut dependence on crude from the Middle East.
- Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum Corp and Mangalore Refinery and Petrochemicals Ltd are preparing to lift about 10.8 million barrels in May State refiners, which control about 60% of India's 5 million barrels per day (bpd) refining capacity, together import an average 14.7-14.8 million barrels of Saudi oil in a month, the sources said. India, the world's third-biggest oil importer and consumer, imports more than 80% of its oil needs and relies heavily on the Middle East.
- Oil minister Dharmendra Pradhan has repeatedly called on the Opec and its allies, known as Opec+, to ease supply curbs.He has blamed Saudi's voluntary cuts for contributing to a spike in global oil prices. In February, the United States emerged as the second biggest supplier to India after Iraq, while Saudi Arabia, which has consistently been one of India's top two suppliers, slipped to No. 4 for the first time since at least January 2006. Two Indian refiners -IOC and MRPL - have also issued tenders seeking oil for delivery in May.
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23252. PHD Chamber projects exports at 545 billion dollars in 2021-22 with a whopping growth rate of 12 per cent
- Indian PHD Chamber of Commerce and Industry has projected 545 billion dollars exports with a double-digit exports growth rate of 12 per cent in 2021-22.
- ''Relief measures provided by the Government have significantly benefited the exporters to resume a normal exports growth trajectory and
- project USD 545 billion exports with a double-digit exports growth rate of 12 per cent in 2021-22,'' said Sanjay Aggarwal, President, PHD Chamber in a statement issued.
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23253. Makhana Export will increase by 25-40 percent in the next three years
- Indian Food Processing Minister Narendra Singh Tomar informed that demand for value-added products of Makhana is likely to grow by 25-40% in the next three years. Makhana products are in great demand worldwide, like India, China, Japan, and Thailand.
- There is no separate HS code of makhana and its product for export and import; this is why there is no figure available for the exports and imports of such products as of now.
- To promote the Makhana and its product export, the government has identified six districts of Bihar, he added – Araria, Darbhanga, Katihar, Madhubani, Saharsa, and Supaul – scheme named as One District One Product for makhana.
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23254. Centre fixes 2021-22 import quota for tur, moong
- The Centre has permitted imports of 4 lakh tonnes of tur and 1.5 lakh tonnes of moong for the financial year 2021-22, to meet the shortfall in domestic supplies. “Import shall be allowed to the Millers/Refiners/Traders and will be allocated equally to pre-determined numbers of applicant through an algorithm based lottery system, as per procedure to be notified by DGFT,” the notification said.
- Centre has extended the date for the import of 1.5 lakh tonnes of urad for the current financial year from March 31 to April 30, based on the trade request considering the difficulty in importing from Myanmar traders are happy about the Centre’s latest move, the dal millers have opposed
- Jitu Bheda, chairman, IPGA said “This will not only control the rising prices but also improve the overall sentiments giving a major boost to the trade. Total imports of 5.5 lakh tonnes will be sufficient for the current situation. This will be over and above the tur import of 2 lakh tonnes from Mozambique as per the MoU between the two governments. Total tur imports would be 6 lakh tonnes,” Bheda added Agriculture Minstry’s second advance estimates, pulses production is seen at 24.42 million tonnes for 2020-21 crop year, higher than previous year’s 23.03 million tonnes
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23255. France's Alstom to deliver 14 more high-power locomotives to Indian Railways
- French mobility major Alstom will deliver 14 high-power locomotives to the Indian Railways from its Madhepura plant by end of this month. 76 locomotives already delivered to the Indian government. The company is also exploring options to export the locomotives from India to other markets.
- Ling Fang, senior vice president, Alstom Asia Pacific said the company is planning to deliver 90 more locomotives to the Indian Railways by the end of this month Madhepura Electric Locomotive Private Ltd is a joint venture between the Indian Railways and Alstom, and will supply 800 heavy haul locomotives of 12,000 horsepower capacity to the Indian Railways as per the contract signed in 2015.
- The 12,000 HP locomotives are capable of hauling 6,000 tonnes at a top speed of 120 kmph and will be utilised on the dedicated freight corridor being developed by the Indian Railways.
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23256. India’s tea export earnings drop 10%
- India’s tea export earnings in calendar 2020 have fallen by 10.08 per cent over 2019 despite a price rise because of a crash in the volume of shipment. According to the latest data available with the Tea Board, the average price of India’s tea in the export market rose to ₹ 248.55 a kg from ₹ 227.55 in 2019, marking a gain of 9.23 per cent.
- the higher price brought down the export orders. Besides, the Covid-led lockdowns in many countries, disturbances in the exchange market as also the banking transactions affected the purchase of tea in many countries.
- the volume shipped dropped to 207.58 million kg (mkg) from 252.15 mkg in 2019, marking a loss of 17.68 per cent. This lower volume pulled down the overall earnings from tea shipments to ₹ 5,159.46 crore from ₹ 5,737.66 crore in 2019, marking a decline of 10.08 per cent.
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23257. India reaches out to Chile for defence exports
- Indian private companies in the defence sector reached out to the Chilean defence sector through a webinar on Thursday (March 26, 2021) seeking opportunities for co-development and co-production in areas of mutual interests.
- In order to achieve the defence export target of USD 5 billion, by 2025, the Ministry of Defence is reaching out to friendly nations through webinars to showcase the various military platforms and other equipment for exports. The Indian mission based in the capital city of Santiago, Chile has been helping the Indian companies which are interested in exploring opportunities to register with the Chilean Armed Forces.
- So far companies including M/s BrahMos; M/s Goa Shipyard Ltd; M/s Azista Industries; and M/s Reliance Naval Engineering; are registered. And, the process of registration with Chilean Armed Forces of companies including Hindustan Aeronautics Limited (HAL), Ordnance Factory Board (OFB), New Space India Limited; Neo Power; and BEML is going on
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23258. India's coal import drops 14% to 196.13 million tonne in Apr-Feb FY21
- India's coal import dropped 13.6 per cent to 196.13 million tonne (MT) in the April-February period of the ongoing fiscal year. The country had imported 227.23 MT of coal in the year-ago period, according to a report by mjunction services
- mjunction -- a joint venture between Tata Steel and SAIL -- is a B2B e-commerce company and also publishes research reports on coal and steel verticals. "For April-February 2020-21, total coal and coke imports stood at 196.13 MT, about 13.69 per cent lower than 227.23 MT imported during April-February 2019-20," it said.
- Of the total imports in February, non-coking coal was at 9.07 MT, against 16.94 MT in the same month last year. Coking coal import was at 4.82 MT, as against 4.02 MT imported in February last fiscal. "The sharp decline in import volumes in February was due to a significant fall in thermal coal imports amid firm prices and high freight rates in the international markets.
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23259. TVS Motor Company's two-wheeler export clocks 100,000-unit milestone
- TVS Motor Company, a reputed two-wheeler and three-wheeler manufacturer, today announced that its two-wheeler exports clocked 100,000 units in March 2021.
- An increase in motorcycle sales in key markets across the globe has significantly contributed to this achievement.
- TVS Motor Company has a presence in over 60 countries in geographies across Africa, South East Asia, Indian Sub-Continent, Central & Latin America and is seeking to enter more markets in Europe and North America as well. The company's key export products include the TVS Apache, TVS HLX series, TVS Stryker series, etc.
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23260. भारत का कॉटन निर्यात 30 सितंबर तक 60 लाख गांठ तक होने की उम्मीद
- भारत ने कॉटन सीजन 2020-21 (अक्टूबर-सितंबर) के आरंभिक छह महीने में 42 लाख गांठ (एक गांठ में 170 किलो) कॉटन का निर्यात कर लिया है और 30 सितंबर तक निर्यात 60 लाख गांठ तक होने की उम्मीद की जा रही है।
- पड़ोसी मुल्क बांग्लादेश और चीन भारत से कॉटन के बड़े आयातक हैं। 31 मार्च तक देश से कॉटन का निर्यात 42 लाख गांठ के पार चला गया है और सीजन के आखिर तक 60 लाख गांठ तक का निर्यात होने की संभावना है क्योंकि पांच लाख गांठ निर्यात के अनुबंध पहले ही हो चुके हैं।
- भारत ने इस सीजन में सबसे ज्यादा कॉटन बांग्लादेश को बेचा है।
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