"... When we boycott their products, they will suffer losses from that... In the current situation, it is necessary that we stop using American products... We must do this as soon as possible..." Prasad told ANI.
While talking to ANI, the union minister said, "For this, the Indian government has also started some PLI schemes to encourage it. We are paying attention to this subject. The Prime Minister has continuously discussed this subject. Recently, during his visit to 5 countries, discussions were
India needs to urgently take steps to reduce its growing dependence on Chinese imports, according to a recent report by the Global Trade Research Initiative (GTRI).
Following Turkey's support to Pakistan in attacks on India, fruit traders in India have begun boycotting Turkish goods, particularly apples. They have vowed to stop importing Turkish produce, stating they will not support any country backing terrorism. India imports goods worth over Rs1,200
Addressing a press conference a day ahead of the India Energy Week 2025, the Union minister recalled how India diversified its crude imports from 27 countries to 40 countries.
The Reserve Bank of India (RBI) in its latest report stated that the country's foreign exchange reserves cover of imports (on balance of payments basis) stood at 11.2 months
India's trade deficit faces limited near-term challenges from ongoing geopolitical uncertainties, though it remains an important area to monitor, says a recent outlook report by Crisil on India's trade deficit.
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India's overall exports, merchandise and services combined, in the just-concluded financial year 2023-24 are estimated to be USD 776.68 billion, largely steady on a yearly basis, data showed on Monday.
India imported 1.2 million tonnes of vegetable oils in January 2024, 28 per cent lower than it shipped in the same month last year at about 1.7 million tonnes, data compiled by The Solvent Extractors' Association of India (SEA) showed on Monday.
Oleochemicals are the chemicals derived from vegetable oils and fats, such as fatty alcohols, fatty additives like stearic acid, oleic additives and soap noodles as well as refined glycerin
"India imported 5.6 million tonnes of finished steel between April-Dec 2023. This was a five-year high. Imports from China alone were close to a record 1.8 million tonnes. Indian steel producers are rightly concerned at the shocking insensitivity of the Modi Govt that is allowing cheap impor