Filling strategic reserves with low-priced oil saved India Rs 5,000 crore, says minister

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India saved over Rs 5,000 crore during April, May this year, when the country used two-decades low international oil prices to fill up its three strategic underground crude oil storages, Petroleum Minister Dharmendra Pradhan said. “Taking advantage of the low crude oil prices in the international market, India purchased 16.71 million barrels (mbbl) of crude […]

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India’s basmati rice exports may take a hit this fiscal due to low buying from Iran and Saudi Arabia

Pre-emptive buying by Iran and Saudi Arabia has muted the overall exports growth of Indian Basmati rice in the current fiscal, reports Financial Express. During the first six months of the fiscal, rice worth Rs 15,564 crore has been exported, which is less than half of the value of rice exported during the last fiscal. […]

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