Search Result for : Engineering Goods

The Dollar Business Bureau India’s exports from the Special Economic Zones (SEZs) has witnessed an increase of 18% in the month of February this year as compared to the same month last year, on the back of a good growth in the shipments of electronics, non-conventional energy products and tobacco related products. “The SEZ sector in the country has registered 18% growth in exports in February 2018 vis-a-vis the same period in 2017,” according to the latest Exports Performance Report released by the Export Promotion Council for EOUs & SEZs (EPCES).   “In February, the total exports from all the SEZs amounted to Rs.22364 crore as against Rs.18990 crore in the same month last year,” the report said. The major sectors that witnessed a significant ...

The Dollar Business Bureau India’s exports witnessed a growth of 9% in January this year, supported by a positive growth in the outbound shipments of petroleum, chemicals and engineering goods, even as the trade deficit shot up to a three-year high. The trade deficit widened to $16.3 billion in January due to 26.1% growth in imports on account of increased inbound shipments of crude oil, according to the data released by the Ministry of Commerce. The trade deficit, gap between imports over exports, had reached $16.86 billion in the month of November 2014. In January 2017, the country’s trade deficit was $9.9 billion. “Exports during January 2018 have exhibited positive growth of 9.07% in dollar terms vis-à-vis January 2017. Exports have been on a ...

The Dollar Business Bureau India’s merchandise exports during December last year recorded a positive growth of 12.36% year-on-year, on the back of a sharper increase in the shipments of engineering goods and petroleum products. Over the last 17 months, exports from the country have been on a positive trajectory, with a decline of just 1.1% in October 2017. However, imports recorded a sharp increase of 21.12% to $41.91 billion during the month on the back of rise in inward shipments of gold, silver, precious stones, petroleum and electronic goods. Due to this, the trade deficit has widened to $14.88 billion in the month of December, as compared to $10.54 billion over a year ago. Industry is hopeful that exports are expected to reach the ...

The Dollar Business Bureau India’s exports has witnessed a sharp jump of 30% year-on-year in the month of November, on the back of good growth in the outward shipments of engineering goods, petroleum products, gems & jewellery and organic & inorganic chemicals. “Exports during November 2017 have exhibited high positive growth of 30.55% in dollar terms, vis-à-vis November 2016. This is on the pattern of positive growth in exports in last thirteen months with a dip of 1.12% in October 2017 vis-à-vis same period last year,” the Commerce Ministry said in a statement on Friday. “During November, exports are valued at $26.19 billion as compared to $20.06 billion in the same month last year. In rupee terms, exports registered an increase of 25.21% ...

The Dollar Business Bureau India’s engineering goods exports to China recorded a massive growth of 123% during the April-June quarter of the current fiscal. This increase according to, the the trade body Engineering Export Promotion Council (EEPC) of India, is due to the huge exports of non-ferrous metals to China.  India’s shipments of engineering goods to China stood at $629 million in the April-June quarter, compared to $282 million in the same quarter in the previous fiscal. The growth assumes importance as India has a huge trade deficit with its neighbour, which was $46.56 billion last year as exports from the country continued to drop whereas the bilateral trade slowed down a little by 2.1% to around $71 billion, as per the data released earlier. The Ministry ...

The Dollar Business Bureau  Federation of Indian Export Organisation (FIEO) on Friday said that the continuous growth in exports gives confidence to the exporters in India on easy sailing with GST. The new regime of Goods and Services Tax (GST), which will subsume most of the indirect taxes, is expected to be rolled out from July 1, 2017. “The exports data for the month of May, 2017 showed yet another consecutive and positive growth depicting the strength and competitiveness of Indian industry,” said Dr A Sakthivel Regional Chairman FIEO Southern Region. India’s exports have surged 8.32% to $24 billion in the month of May, keeping the growth trajectory for straight eight months, according to the latest data released by the Ministry of Commerce. Dr Sakthivel ...

The Dollar Business Bureau  India’s exports grew by 8.32% to $24 billion in May, registering an upward growth in the last eight months. However, the trade deficit also surged to $13.84 billion a 30-month high, majorly on account of higher gold imports.  The exports growth during the month is mainly propelled by strong performance from marine products (44.58%), rice (27.08%), petroleum products (24.92%), organic & inorganic chemicals (15.34%), electronic goods (8.57%), engineering goods (8.25%), RMG of all textiles (8.06%) and gems & jewellery (6%).  In May 2016, the country’s exports were $22.1 billion, according to the Ministry of Commerce data.  The cumulative value of exports for the period April-May 2017-18 was $48.6 billion witnessing a growth of 13.83% compared to $42.7 billion over the same ...

The Dollar Business Bureau In a much-needed relief to the exporters, the Export Credit Guarantee Corporation (ECGC) in its 60th year of operation has taken a customer friendly step by reducing the premium rate by an average of 17% for its whole turnover policy covers. This has reduced the transaction costs for short term business exporters from Rs.28.19 to Rs 25.46 per Rs 100 during FY 2016-17. The premier Export Credit Agency has also initiated several customer friendly steps to boost exports. In its press release on May 31st, the agency has listed out the initiatives taken during FY 2016-17. The agency has taken steps to make Export Factoring Scheme, cheaper for MSMEs. To give a fillip to the Medium & Long Term (MLT) ...