Economy

Next month, India is set to receive its first shipment of one million barrels of Liza Crude Oil from Guyana. This is the first purchase of Guyanese crude oil from the Government of Guyana’s share of oil by an Indian PSU refiner – Indian Oil Corporation Ltd (IOCL). According to the Indian Mission in that country, the oil tanker left the shores on July 4-5, 2021 and will be reaching the Paradip Port in India in the first week of August.

Twitter Inc no more enjoys liability protection against user-generated content in India as the US microblogging giant has failed to comply with new IT rules, the Indian government said in a court filing.

The gross GST revenue collected in the month of June’ 2021 is₹92,849 crore of which CGST is ₹16,424 crore, SGST is ₹20,397, IGST is ₹49,079 crore (including ₹25,762 crore collected on import of goods) and Cess is ₹6,949 crore (including ₹809 crore collected on import of goods).

In a step towards boosting horticultural crops exports, a first commercial shipment of Mishri variety of luscious cherries from Kashmir valley has been exported to Dubai from Srinagar.APEDA assisted the shipment of cherries to Dubai by MS Desai Agri-Food Private Limited, a venture company of MS Innoterra, Dubai.

In June 2021, foreign portfolio investors (FPIs) turned net buyers by investing Rs. 13,269 crore (US$ 1.78 billion) into the Indian markets.

A unique scientific exercise serving the combined national objectives of reducing desertification and providing livelihood and multi-disciplinary rural industry support has been initiated by Khadi and Village Industries Commission (KVIC). The project named “Bamboo Oasis on Lands in Drought” (BOLD) is the first of its kind exercise in India which was launched on July 4- 2021 from the tribal village NichlaMandwa in Udaipur, Rajasthan.

The merchandise exports grew 47 per cent YoY to $32.46 billion in June, driven by a robust demand of engineering goods, petroleum products, and gems and jewellery in the external markets.