New Delhi, April 2 (IANS) The government has decided to provide full customs duty exemption on critical petrochemical products till June 30, 2026, amid the ongoing conflict in West Asia and the consequent disruptions in global supply chains, Finance Ministry said on Thursday.The measure, said the ministry in a statement, has been taken as a temporary and targeted relief in order to ensure continued availability of critical petrochemical inputs for domestic industry, reduce cost pressures on down…
Latest Global Supply Chains News & Updates
New Delhi, April 1 (IANS) The government on Wednesday said it has adequate seed stock available for the upcoming Kharif season amid the West Asia crisis that has hampered global supply chains.Additional Secretary, Agriculture and Farmer Welfare, Maninder Kaur Dwivedi, said during the inter-ministerial briefing that the country has a self-reliant seed system backed by the Indian Council of Agricultural Research (ICAR) and the public sector, in addition to the private sector.Moreover, a robust pip…
New Delhi, March 31 (IANS) The Reserve Bank of India on Tuesday extended the enhanced export credit period of up to 450 days till June 30, 2026, to support exporters facing disruptions due to the ongoing West Asia crisis.The central bank said the decision was taken in view of continuing logistical challenges arising from geopolitical tensions in West Asia.Exporters have been facing delays in shipments and payments due to disruptions in global supply chains and uncertain market conditions.“Due …
New Delhi, March 17 (IANS) The conflict in the Middle East has hit China’s exports due to the disruption in shipping, which has caused goods to pile up in the local warehouses, according to media reports.The report in CBC news came from the Chinese city of Yiwu, which is known as the world’s supermarket, as it is a key supplier of household goods and electronic products to US commerce giants such as Amazon and Walmart, as well as to the Middle East. The report by Chris Brown states that due …
New Delhi, March 13 (IANS) Pakistan is facing a serious shortage of essential medicines as the ongoing conflict in the Middle East disrupts the import of pharmaceutical raw materials and other critical supplies, according to a new report.The neighbour nation’s existing stock of pharmaceutical raw materials is sufficient for only about one-and-a-half months, according to the report in The Express Tribune.The conflict involving Iran, Israel and the United States has led to the suspension of seve…
Washington, March 8 (IANS) US Energy Secretary Chris Wright said on Sunday that the US asked India to purchase Russian oil cargoes that were waiting to unload at Chinese refineries in a bid to stabilise global energy markets during the ongoing conflict with Iran. In an interview to CNN, Wright said the Trump administration directly reached out to India as part of a short-term effort to calm oil markets rattled by disruptions in the Middle East.”I did call up the Indians, as did US Treasury Secre…
Washington, Feb 12 (IANS) The United States has described Pakistan as “another important partner” in South Asia, outlining cooperation on critical minerals, trade and counterterrorism even as lawmakers highlighted regional tensions and the risks of instability. Testifying before a House subcommittee hearing on US policy in South and Central Asia on Wednesday (local time), Assistant Secretary of State for South and Central Asian Affairs Paul Kapur said Washington is working with Islamabad to …
Mumbai, Feb 6 (IANS) Indian auto component manufacturers are likely to enjoy more access to European markets with improved price competitiveness under the proposed India-EU Free Trade Agreement (FTA), a report said on Friday.The report from ICRA said that “tariff rationalisation and preferential access are expected to enhance pricing competitiveness and sourcing opportunities with European original equipment manufacturers (OEMs)”.The EU is a major automotive production hub and better trade terms…
Washington, Feb 4 (IANS) US Secretary of State Marco Rubio on Wednesday said critical minerals will play a central role in Ukraine’s economic recovery after the war, arguing that access to and development of natural resources would be essential to rebuilding the country and securing lasting peace. “This war will end at some point,” Rubio said, adding that Ukraine would need to harness its resources once fighting stops. “And when it does, Ukraine needs to be able to harness all the resour…
Washington, Jan 30 (IANS) The US is positioning India as a key future partner in a new economic security framework aimed at securing global supply chains for artificial intelligence and advanced technologies, Under Secretary of State for Economic Affairs Jacob Helberg said on Friday. Speaking at the Hudson Institute, Helberg said Washington is preparing to expand its Pax Silica initiative. The effort is an economic security coalition focused on semiconductors, critical minerals, logistics and AI…