Search Result for : India Exports

The Dollar Business Bureau In the wake of increasing trade measures of the US against India and its decision to review eligibility of India for certain products for duty benefits, Commerce and Industry Minister Suresh Prabhu said on Tuesday that in order to resolve all trade issues, Indian government is actively working with the US and is also following Word Trade Organisation (WTO) rules to protect the interests. “I can assure you, the only guiding principle for engagement with the US is to protect India’s commercial interest in its entirety,” Prabhu said while speaking at the launch of a platform - ‘FIEO GlobalLinker’ for micro, small and medium scale exporters (MSME) for digitising their businesses.  On April 13, the US announced that ...

The Dollar Business Bureau India’s exports of goods are likely to grow at the rate of 5.96% during the January to March quarter of the current fiscal, according to the Export-Import Bank of India (Exim Bank). “India’s merchandise exports to witness a growth rate of 5.96% during the fourth quarter of 2017-18 (January-March 2018), over the corresponding quarter of the previous year,” the EXIM Bank said in a release on Thursday. The forecast is based on the Export Leading Index (ELI) model of the bank, it said. Exim Bank has created an in-house model to generate ELI for India in order to track and forecast the movement in the country’s exports on quarterly basis. The ELI measures the exports outlook and is basically developed ...

The Dollar Business Bureau After remaining positive for the eight consecutive months, manufacturing sector activity in India declined in March to a low of five months, as the fresh business orders grew at a slower pace, and companies showed reluctance for recruitment, according to a private survey.                                                                                                                                                                                       The Nikkei India Manufacturing Purchasing Managers Index (PMI) declined to a five-month low of 51 in March from 52.1 in February. “This indicated the slowest improvement in operating conditions recorded by the survey since last October,” Nikkei said in a statement.  This is consecutively for the eighth months that the PMI remained above the mark of 50-point. In PMI parlance, a reading above the 50 point mark means growth, while below that mark shows a contraction.  Commenting on ...

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 would be impacted if the current tariff war escalates into a full-fledged trade war, apex trade body ASSOCHAM said, adding that there would be severe damage to the Indian economy too. “If the tariff war escalates into a full-scale global trade war, it would have a collateral damage for the Indian economy as well, with the country's exports taking a hit, current account deficit facing pressure and the GDP taking a setback,” the trade body said in a statement on Sunday. The Chamber further said that the move of the US administration to levy tariffs could lead to a further retaliation against the US but it may not have a direct impact on India. “Instead of de-escalating, the ...

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 exports must grow at an average rate of more than 26% in the next five years, if the country wants to achieve the ambitious target of 5% share in world exports, according to a study. “However, this would require enhancing product competitiveness, which needs that the infrastructure for trade to be improved including ports infrastructure,” suggested a report ‘Port Logistics: Issues and Challenges in India’ by research firm Dun & Bradstreet. This and several other measures, including ensuring transparency in charges collected by shipping lines and creating a common digital platform, in order to strengthen port logistics and improve trade, recommended by Dun & Bradstreet in its study has been handed over to Commerce & Industry Minister Suresh ...

The Dollar Business Bureau Commerce and Industry Minister Suresh Prabhakar Prabhu said on Thursday that financial incentives for exporters through various export promotion schemes such as Merchandise Exports from India Scheme (MEIS) is expected to cross Rs. 1 lakh crore in the fiscal 2017-18. “Incentives to exporters under various schemes like the popular MEIS, SEIS, Advance Authorisation and the Export Promotion Capital Goods (EPCG) would cross Rs.1,00,000 crore and touch Rs.1,20,000 crore or even more depending on the performance of exports in the last two months of the fiscal,” Prabhu said while addressing a press conference. “You heard our Finance Minister say (in his Budget speech) that exports this year could have a growth of 15% over the previous year. A good export performance means ...