India to reduce export documents to three by April 2015
The Dollar Business Bureau | @TheDollarBiz Softening commodity prices and an uneven global recovery hurt India's exports in October 2014 The Indian government has fast-tracked efforts to reduce export barriers and improve Ease of Doing Business to boost manufacturing and revive exports. India’s exports slipped into the negative list in October 2014 y/y for the first time since April 2014. Exports have declined due to several factors such as dipping global commodity prices, strengthening rupee against the USD, and a slowdown in Europe. Experts say that the uncertainty over the release of the new Foreign Trade Policy isn’t helping exporters and the government must take immediate steps to address the decline in exports. Earlier this month, M Rafeeque Ahmed, President, ...
India slips 4 places to 126 in World Banks 2015 Foreign Trade rankings
Bidhu Bhushan Palo | @TheDollarBiz India has slipped four points to the 126th rank in World Bank’s “Trading Across Borders” indicator in the 2015 Ease of Doing Business report released this week. Singapore, Hong Kong, and South Korea hold the top three spots respectively. Launched in 2002, the Doing Business (DB) is a World Bank project which aims to provide measures of business regulations (which includes foreign trade) and their enforcement across 189 economies at different levels. DB measures three broad parameters (documentation, time and cost per container) to rank countries in the “Trading Across Borders” indicator. It excludes tariffs, time and cost for sea transport associated with exporting and importing a standard shipment of goods by sea transport. According ...
