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Recent article in an online publication made some comments on Crude #oilimports from Russia & raised questions about the benefits of recent decisions of the Govt. It is essential to bring #clarity to the issue through this thread (1/9) @PMOIndia @HardeepSPuri @Rameswar_Teli 
Claim of Indian refiners reselling Russian crude back to Europe is based on a link which no longer exists. Extrapolation of unvalidated 30 day data (May 2022) to the whole year lacks the necessary economic rigour (2/9)
#OilPolicy @PMOIndia @HardeepSPuri @Rameswar_Teli
#OilPolicy @PMOIndia @HardeepSPuri @Rameswar_Teli
India and Russia have been all-weather friends and trade partners who have significant bilateral trade. The composition of the #tradebasket between the countries, varies from time to time, purely on #economicfactors (3/9) @PMOIndia @MEAIndia @DrSJaishankar @HardeepSPuri
India's Exports (Merchandise &Services) in April-Feb FY21,are $439.64bn,down 10.14%,YoY
Imports in April-Feb FY21 are $447.44bn,down 20.83%
But in Dec'20,Jan&Feb'21,#Exports started picking up,with Feb growth at 0.67%&2.46% in Dollar &Rupee terms
Export growth in Dec was 5.37%
Imports in April-Feb FY21 are $447.44bn,down 20.83%
But in Dec'20,Jan&Feb'21,#Exports started picking up,with Feb growth at 0.67%&2.46% in Dollar &Rupee terms
Export growth in Dec was 5.37%
Exports in Feb'21 were $27.93bn,Vs $27.74bn in Feb20,up 0.67%
In Rupee terms,Exports were Rs 2.03 lakh Cr in Feb'21,up 2.46%
Imports in Feb were $40.54bn/Rs 2.95 lakh Cr,up 6.96% in Dollar terms &8.86% in Rupee terms,YoY
Trade Deficit in Feb21 was $12.88bn,Vs $10.16bn in Feb20
In Rupee terms,Exports were Rs 2.03 lakh Cr in Feb'21,up 2.46%
Imports in Feb were $40.54bn/Rs 2.95 lakh Cr,up 6.96% in Dollar terms &8.86% in Rupee terms,YoY
Trade Deficit in Feb21 was $12.88bn,Vs $10.16bn in Feb20
Interestingly,in April-Feb 2020-21,TradeDeficit is only $7.80bn,Vs deficit of $75.90bn in April-Febr 2019-20
Merchandise #TradeDeficit of $12.62bn in Feb21 is much lower Vs $14.54bn in Jan21
Lower Trade deficit in FY21,not due to slowdown alone,but due to better terms of trade
Merchandise #TradeDeficit of $12.62bn in Feb21 is much lower Vs $14.54bn in Jan21
Lower Trade deficit in FY21,not due to slowdown alone,but due to better terms of trade
