A proposed visit by US Secretary of State Marco Rubio to India next month is drawing attention as it comes amid growing strains in bilateral relations between Washington and New Delhi. Read More: Rubio heads to Asia in first visit, ASEAN talks set to focus on trade The visit, expected in May, is likely to focus on […]
oil imports
US and India strike trade deal cutting tariffs and reshaping oil ties
The United States (US) and India have reached a new trade agreement that sharply reduces US tariffs on Indian goods in exchange for India halting purchases of Russian oil and lowering trade barriers, US President Donald Trump announced on Monday. Read More: Trump announces ‘trade deal’ with India after Modi call Trump said US tariffs on Indian […]
Pakistan’s trade deficit with Middle East narrows 4pc in Q1 FY26
ISLAMABAD: Pakistan’s trade deficit with Middle Eastern countries narrowed by 3.99 percent in the first quarter of FY26, mainly due to a simultaneous decline in imports and exports, according to data released by the State Bank of Pakistan (SBP). The trade gap fell to $3.56 billion during July–September FY26 from $3.70 billion in the same […]
India to cut Russian oil imports
NEW DELHI – Indian refiners are preparing to drastically reduce imports of Russian crude oil following new U.S. sanctions targeting Russia’s two largest oil producers, Lukoil and Rosneft, industry sources confirmed Thursday. The move is expected to ease trade tensions with Washington, which has imposed steep tariffs on Indian exports in part due to its […]
Pakistan’s oil imports reach $10.71 billion as refinery output expands
Pakistan’s oil imports rose slightly to $10.71 billion in the first eight months of FY2024-25, driven by higher crude intake. According to the Pakistan Bureau of Statistics (PBS), crude oil imports increased by 20.29% in volume, while their value grew by 6.51%. However, petroleum product imports declined by 3.87% in value despite a 9.49% rise […]