India’s gold imports in March 2021 surge over 470% to a record 160 tonnes

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India’s gold imports in March 20201 surged 471 per cent from a year earlier to a record 160 tonnes, a government source told Reuters, as reduction in import taxes and a correction in prices from record highs drew retail buyers and jewellers. Higher imports by the world’s second-biggest bullion consumer could support benchmark gold prices, which have corrected nearly […]

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Iron ore stockpiles at mines remain unsold: FIMI

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The Federation of Indian Mineral Industries (FIMI) has said that stockpiles at mine-heads are increasing. Refusing to allow their exports will only amount to complete wastage of a material which can earn valuable foreign exchange for the country, it said. Currently, India requires around 165 million tonnes of iron ore as against production of 206 million tonnes […]

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India probes alleged subsidised export of certain steel items by Indonesia

India has initiated a probe into an alleged subsidised export of certain steel products by Indonesia, following complaints by domestic industry. The petitioners have alleged that the producers/exporters of certain steel products in Indonesia have benefited from the actionable subsidies provided at various levels by the Indonesian government. The commerce ministry’s investigation arm Directorate General […]

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