The government is in talks with Russia to liberalize market access for several Indian-made products
Refiners are raising runs to cash in on high margins to offset some of the losses incurred for selling fuels in the local markets
While total exports during last fiscal year increased to a record high of $417.81 billion, imports too soared to $610.22 billion, leaving a trade gap of $192.41 billion
It is to be noted that India imports 60-65 per cent of its edible oil requirement.
Iran used to be India's second largest oil supplier but New Delhi had to halt imports after the former US president Donald Trump withdrew from the nuclear deal with Iran and re-imposed sanctions on its oil exports