Search Result for : Global Demand

The Dollar Business Bureau India's share in overall exports to top ten destinations globally rose to 51.6% in the last financial year of 2016-17, as compared to 49% in the fiscal of 2013-14, industry body PHD Chamber of Commerce and Industry (PHDCCI) said on Wednesday.  The major export destinations of India include the US, Hong Kong, Japan, the UAE, China, the UK, Singapore and Germany.  The merchandise exports from the country to the US increased to $42.33 billion in 2016-17 from $39.14 billion in 2013-14, Gopal Jiwarajka, President, PHDCCI said in a statement.  Around 53% of exports to the US are primarily consumer goods, capital goods, intermediates and raw materials.  Similarly, the country’s exports to Hong Kong increased 11.2% to $14.2 billion in the last financial year.  “Going ahead, we are hopeful that our exports will touch $325 ...

The Dollar Business Bureau Overriding its tapering domestic economy, Japan's foreign trade in the month of March boosted the overall performance of the world's third largest economy. The Japanese administration announced that exports grew more than the expected 12% while imports jumped 16% year on year during March 2017. A revival of stability in Chinese economy supplemented by a gradually normalising global demand has given Japan much reason to cheer. A trade surplus of $5.6 billion was registered in the month of March as exports grossed $66 billion approximately while imports rose to about $60 billion. Japanese exports to China reached $11 billion, showing a whopping 16.4% growth from the same month in the previous year, although the double digit growth is mostly because of a one-month shift in the Lunar New ...

The Dollar Business Bureau Even as the government looks to double India’s food processing exports over the next five years, a recent report by Dun and Bradstreet has suggested that the sector will register a subdued growth this fiscal due to a sluggish global demand. According to the report, food exports are projected to remain subdued in 2017 due to slowdown in global demand, while the share of FPI related commodities to total exports could remain marginally moderate.  The exports of FPI and related commodities slumped by 18% y-o-y to $29.7 billion in FY16, in line with the falling trend in India’s overall outbound shipments. Looking at the sector’s exponential growth prospects in future, the government has set an ambitious target of doubling its processing levels to 20% by 2019 from ...

The Dollar Business Bureau The government is planning to merge all the commodity boards and establish an umbrella organisation, a decision aimed at improving production and exports of crops such as coffee, tea and spices. The Ministry of Commerce pointed out that some of these commodity boards were established prior to independence, but their merger could harmonise their activities, leading to enhanced exports. The five commodity boards are responsible for output, development and outbound shipments of coffee, rubber, spices, tea and tobacco. “India has a huge potential to boost agri exports. One board will provide better services. So, we are working to form one specialised body with different verticals,” according to a senior commerce ministry. The Coffee Board was constituted in accordance with the Coffee ...

The Dollar Business Bureau Drop in outbound shipments have bottomed out and exports are likely to see gradual improvement in the near-term depending upon how demand picks up globally, Nirmala Sitharaman, Minister for Commerce and Industry said on Wednesday. The Minister said that the improvement in global demand is not as much as “we would expect it to be”. “Problems continue in several countries. The economy of Brazil is in trouble. The European Union (EU) is coping with the after effects of UK’s exit (Brexit). The UK itself is looking to start fresh discussions,” she said. “So while there is hope…the exports having bottomed out and its now showing signs of improvement, (but) will still have some way to go before they really steadily move upwards,” ...

Source: PTI The government will announce an interest subvention scheme to help exporters who have been facing a fall in shipments due to weak global demand, Commerce and Industry Minister Nirmala Sitharaman said on Friday. “We will soon come out with an interest subvention scheme for exporters. Each category has its own problems. We are continuing our efforts to address the problems faced by exporters,” she told reporters in Coimbatore, replying to a specific question on declining exports. When asked about the timeframe, she said the scheme is awaiting Cabinet clearance. Stating that the government is conscious that exports have been declining for some months, she said “all of us have been constantly working on it”. To a question on plans to ...

Himanshu Vatsa Bureau | The Dollar Business The Reserve Bank of India on Tuesday reduced the repo rate by 0.5%, triggering hope to enhance the domestic investment cycle and push growth. “On the basis of an assessment of the current and evolving macroeconomic situation, it has been decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 50 basis points from 7.25% to 6.75% with immediate effect,” the RBI said in its fourth bi-monthly monetary policy for the current financial year. A cut of 50 basis points is the steepest in four-and-half-years. Earlier, the central bank had reduced the repo rate by 75 basis points in three tranches during this fiscal. Justifying the reduction, RBI Governor Raghuram Rajan said that ...

The Dollar Business Bureau India’s largest jewellery manufacturer Rajesh Exports will ship gold and diamond studded ornament worth Rs.1,123 crore to Singapore by the end of this year. “Rajesh Exports Ltd (REL) has bagged an export order worth Rs.1,123 crore of designer range of gold and diamond studded jewellery and medallions from Singapore. The order is be completed by December 31, 2015,” the Bangalore-based firm said in a statement on Friday. The fresh order came nearly three weeks after the company had received an export order from a UAE-based firm to supply gold and diamond jewellery worth Rs.1,170 crore. The shipment to UAE has to be completed by October 31. According to REL, the demand for Indian jewellery has been “growing rapidly” ...