More indications have appeared to show that India is increasing its imports of crude oil from Iran after disputes between the two countries over settling outstanding debts from previous purchases have been resolved. Shipping data provided by Reuters show that India's Iran oil imports rose about 39 percent in June year on year. In the first half ...

[caption id="attachment_130909" align="alignright" width="154"] A street side restaurant owner holds a bundle of rupee notes as he sits outside his restaurant in New Delhi November 22, 2013.[/caption] Reuters Market Eye - The rupee fell to as low as 62.13 on Thursday, its lowest since March 4. The the Indian unit was last trading at 62.1150/1200 versus ...

India is ready to pay Iran in euros rather than rupees for crude oil imports after an Iranian official recently said Tehran prefers euro payment, Petroleum and Natural Gas Ministry sources in New Delhi say. The unnamed sources said India will change the current practice of rupee payment as soon as Iran files an official request to that effect, the ...

MUMBAI: The value of Indian exports toIranis expected to touch USD 6 billion in 2013-14 from the present USD 4.5 billion, according to apex exporters body FIEO. "The opening of letter of credit from Iran under therupeepayment mechanism has been impressive touching about USD 400 million on monthly basis. "With the new provision being put into place,...

NEW DELHI: India has not banned the import ofureafromIranand the country imported 1.6 million tonnes (MT) of the crop nutrient from the West Asian nation till February 15 of this fiscal,Parliamentwas informed today. India, which buys about 20-30 per cent of its urea requirement, imported almost 2 MT of nitrogenous soil nutrient from Iran in 2011-...