Indias exports share to top destinations up 51.6% in FY17
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 ...
Adani to set up a multi-purpose port in Malaysia
The Dollar Business Bureau Adani Group on Monday signed an agreement with Malaysia’s MMC Ports with the possibility of setting up a multi-purpose port majorly to handle containers at the Carey Island of Malaysia. A memorandum of understanding (MoU) has been signed by Adani Ports with MMC Ports of Malaysia to conduct a feasibility study of Carey Island Port Project as an expansion of the Port Klang, which is presently the world’s 11th busiest container port. Besides, the two sides will have collaboration with Sime Darby Property, the subsidiary of Malaysian multinational Sime Darby Berhad, to conduct a feasibility study to develop an integrated maritime city that will support the new multi-purpose port. In a release to the press Karan Adani, CEO – APSEZ said, “Malaysia ...
India's auto exports take a hit in December
During April- November 2015, the countrys auto exports grew by just 2.61%, much less than the growth rate of 5.78% witnessed during April-October period The Dollar Business Bureau During April-March 2015, the countrys overall automobile exports grew by 14.89% over 2014 when the overseas sales in of three-wheelers and two-wheeler grew by 15.44% and 17.93% respectively Indias automobile exports seem to have been facing the heat of the global slowdown as the growth rate in the overseas sales has witnessed a sharp reduction in the past two months. During April- November 2015, the countrys auto exports grew by just 2.61%, much less than the growth rate of 5.78% witnessed during April-October period. Analysts say that the steep fall in the export of commercial vehicles ...
