State-owned ONGC offers stake in KG block to foreign companies

State-owned Oil and Natural Gas Corporation (ONGC) is offering a stake to foreign companies in its ultra-deep sea gas discovery and a high-pressure, high-temperature block in the Krishna Godavari (KG) basin as it looks for financial and technological help to bring the challenging fields to production. ONGC has floated an initial tender seeking interest of global majors […]

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Solar tariffs in India to rise 21% in the next 12 months on account module price volatility and basic customs duty: Report

Surging commodity prices and the introduction of a new duty on imported solar modules are expected to push up solar tariffs by more than one-fifth over the next year, said a new report by JMK Research and the Institute for Energy Economics and Financial Analysis (IEEFA). “The price and performance of modules are critical factors […]

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RBI issues norms for import of gold by qualified jewellers

The Reserve Bank of India (RBI) has come up with norms for facilitating physical import of gold through India International Bullion Exchange IFSC (IIBX) or similar authorised exchange by Qualified Jewellers in India. In addition to agencies nominated by the RBI and by DGFT, Qualified Jewellers (QJ) as approved by International Financial Services Centers Authority (IFSCA) were […]

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India allows duty-free import of 20 lakh tonnes per year of crude soyabean, sunflower oil

The government scrapped customs duty and agriculture infrastructure development cess on the import of crude soyabean oil and crude sunflower oil for 20 lakh metric tonnes (MT) each per year to ease local prices. The duty-free import of 20 lakh MT per year will be applicable for two fiscals, 2022-23 and 2023-24, for crude soyabean […]

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