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 Troops who were in eyeball to eyeball confrontation in territory claimed by both sides have been withdrawn, the two countries announced on Sunday.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.
The Abu Dhabi-based Lulu Group has announced its expansion plans in Uttar Pradesh, involving Rs 200 crore more investment at Greater Noida.
The World Bank Group on Tuesday issued a guarded growth forecast for the global economy this year, saying that a four per cent overall expansion was likely, although the recovery will likely be a “subdued” one.
With millions forced to work from home this year, offices and shops closing as part of containment measures, and travel severely curtailed everywhere, it was inevitable that the economy would suffer.
The details of the accord have yet to be made public, but if the sides have struck a zero-tariff and zero-quota deal, it will help to smooth trade in goods that makes up half their $900 billion in annual commerce.