Gold imports, which have a bearing on the country’s current account deficit (CAD), rose by 22.58 per cent to USD 34.6 billion (about Rs 2.54 lakh crore) during 2020-21 due to increased domestic demand, according to the Commerce Ministry data.
Saudi Arabia attracted $5.5 billion in net FDI flows in 2020, equivalent to about 1% of its economic output, according to data compiled by Bloomberg,
Energy relations between India, the world’s third-biggest oil importer and consumer, and Saudi Arabia have soured as global oil prices spiked.
UAE is a key oil supplier to India and a partner in an Indian joint venture that plans to build a 1.2 million barrels per day (bpd) refinery and petrochemical complex on the country’s west coast.
Trade deficit with China has declined 19.39 per cent from USD 56.95 billion in 2019 to USD 45.91 billion in 2020 as the country’s imports from the neighbouring country contracted 10.87 per cent to USD 66.78 billion from USD 74.92 billion in 2019, the data showed.
The change in the Indian government’s stance follows an improvement in the border situation. Troops who were in eyeball to eyeball confrontation in territory claimed by both sides have been withdrawn, the two countries announced on Sunday.
India’s shift to exporters like US and Nigeria comes amid an increased demand for gasoline, as the pandemic pushes people to private cars instead of public transport.
The private sector has a key role to play in lifting countries out of both the COVID-19 and climate crises, UN Secretary-General António Guterres told international business leaders on Monday.
A new report from the UN’s air transportation agency confirms there was a “dramatic” fall in international air travel due to COVID-19,
Indian Oil Corp (IOC), the country’s top refiner, has loaded its first cargo of Iraq’s newly introduced Basra Medium crude grade, according to ship tracking data from Refinitiv Eikon and a source with knowledge of the matter.