The Indian authorities are implementing an extensive program to reduce the “non-mandatory” imports to prevent the outflow of dollars and support the rupee. As sources informed Reuters, within the framework of this program the Ministry of Metallurgy of India offered to increase the current import duties on some categories of steel products from 5-12.5% to 14%. According to sources, the Indian leadership hopes that the implementation of this proposal will help achieve a trade balance and support local metallurgical enterprises.
Dollar stands strong with support from domestic data and virus optimism04.02.2020
Tesla surges 20%, gets boost from Panasonic’s quarterly profit increase23.01.2020
Malaysia to purchase more sugar from India to resolve dispute23.12.2019
China to trim import tariffs on some products next year