Sluggish growth in Europe slows down Indias exports in August
The Dollar Business Bureau | @TheDollarBiz Uneven growth among major economies and a slowdown in Europe has adversely affected India’s exports in recent months leading to a modest Y-o-Y growth of below 3% in August 2014. According to the Ministry of Commerce, India’s exports stood at around $26.9 billion in August 2014, up about 2.35% from $26.3 billion recorded a year earlier, but down about 2.8% from exports worth $27.7 billion recorded in July 2014. M. Rafeeque Ahmed, President, FIEO Cumulative exports during April – August 2014 of around $134.8 billion is still up about 7.3% from $125.6 billion in the corresponding period last year, but below the 8.62% growth registered for the April-July 2014 period. This does not augur well ...
USA, EU sanctions on Russia provide an opportunity for Indian exporters: FIEO
The Dollar Business Bureau | @TheDollarBiz Though India has lost share in several major export sectors to Russia in the last 10 years, the decision by USA and EU to impose sanctions on Russia may help open new avenues for Indian exporters, says M Rafeeque Ahmed, President, Federation of Indian Export Organisations (FIEO). Despite strong bilateral ties, trade between India and Russia remains stunted. According to the Ministry of Commerce, trade between the two countries stood at around $6 billion in FY2013-14, which is a fraction of India’s total annual trade of around $764 billion, and there are 33 countries with which India does more trade than Russia. M. Rafeeque Ahmed, President, FIEO The FIEO President says that this is mainly ...
FIEO proposes $750 billion export target for FY2018-19 in Indias new FTP
The Dollar Business Bureau | @TheDollarBiz The Federation of Indian Export Organisations (FIEO) has proposed an export target of $750 billion by FY2018-19 co-terminus with the new five year Foreign Trade Policy (FTP) that the Indian government is expected to announce later this month, Ajay Sahai, Director General & CEO FIEO, told The Dollar Business. Ajay Sahai, Director General & CEO, FIEO He added that FIEO is of the view that a long term target should be fixed rather than annual targets and after fixing the target, the government should review it on an annual basis and put in place any mid-course corrections if required to stay on track. In the last FTP (2009-2014), the government had set an export ...
