As US tariff threat looms, officials say India-Iran trade ‘minuscule’| Business News

NEW DELHI: India’s trade with Iran is minuscule and primarily involves supplies of food and pharmaceuticals essential for inflation-ravaged Iranian citizens, people aware of the matter said, adding that any implication of new American tariffs for those who export to Iran will depend on the specifics of Washington’s decisions. A freight train carrying cargo containers rides along […]

India’s crude import cost slips below $60 a barrel| Business News

NEW DELHI: India’s average crude oil import cost fell below $60 a barrel on Monday, among the lowest it has been in five years despite global geopolitical upheavals and sanctions against three major crude oil suppliers—Iran, Russia and Venezuela. The daily average price of various crude grades (popularly known as Indian basket) dipped to $59.29 a barrel […]