India to release 5 million barrels of crude oil from strategic reserves on US request

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As reported yesterday, India plans to release about 5 million barrels of crude oil from its emergency stockpile in tandem with the US, Japan and other major economies to cool international oil prices.  This is the first time ever that India, which stores 5.33 million tonnes or about 38 million barrels of crude oil in […]

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U.S. asks China, India and other countries to use oil from their strategic reserves to get back at OPEC

Governments from some of the world’s biggest economies said last week they were planning to release oil from their strategic reserves, following a rare request from the United States for a coordinated move to cool global energy prices and ahead of a meeting of major oil producing countries. The Biden administration has asked big oil […]

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India to seek permanent solution for food procurement and stockholding at WTO

India will push for a permanent solution to the issue of public stockholding for food security purposes at the four-day ministerial meeting of the World Trade Organisation (WTO) in Geneva, starting from November 30. It will also seek a special safeguard mechanism (SSM), along the lines of the one available to developed countries, to protect […]

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India seeks reciprocal, equitable access to foreign markets through FTAs: Commerce Minister Piyush Goyal

India is looking at reciprocal and equitable access to foreign markets through free trade agreements, which the country is negotiating with its trading partners, Commerce and Industry Minister Piyush Goyal said. India is, at present, negotiating free trade agreements (FTAs) with countries like UAE, the UK, and Australia. Under a free trade agreement, two trading […]

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U.S., China and India missing from the 28 country-alliance’s pledge to root out coal

Twenty-eight countries have joined an international alliance dedicated to phasing out coal, but the world’s biggest polluters are not among them. The new members of the Powering Past Coal Alliance (PPCA), which include Ukraine, Poland and Singapore, bring the total number of national governments involved to fortyeight. However, China, India and the United States, the […]

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India to insist on fishery subsidy and select patent waivers at the WTO meet next month

The next ministerial meeting of the World Trade Organization (WTO) will likely consider a raft of critical issues, such as fishery subsidies, WTO reforms, public procurement programmes for food security and the multilateral body’s response to the Covid-19 crisis, including the fate of a patent waiver proposal floated by India and South Africa to better […]

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