India's exports grow at 17.4% last month; imports surge 21.7%
The Dollar Business Bureau India's exports grew consecutively for the 6th month, as the month of February 2017 posted a 17.48% year on year growth in exports. Total exports for the month stood at $24.5 billion, when compared to $20.8 billion in January 2016. For the same month, trade deficit widened year on year from $6.5 billion in 2016 to $8.8 billion in 2017. During April-February 2016-17, exports registered a 2.5% growth, grossing $245 billion as against $239 billion in the same period last year. Meanwhile imports also surged by 21.7% year-on-year. As against $27.4 billion in February 2016, total imports in the month of February 2017 stood at $33.4 billion. For the April-February period, imports declined from $353 billion ...
Indias exports grow 4.32%, exports up 10.7% in Jan
The Dollar Business Bureau India’s merchandise exports rose for the fifth straight month in January, albeit sill lingering at a single-digit growth rate, as escalated shipments of raw materials such as iron ore and petroleum products helped the country cloak a 4.32% growth to $22.11 billion. The country’s January exports growth contradicted the industry’s earlier predictions that Prime Minister Narendra Modi-led demonetisation drive could significantly pull back the total exports. However, the overall impacts of the November 8 announcements were evidently marginal, as imports, too, rose a strong 10.7% to $31.96 billion, triggering an expansion of trade deficit to $9.84 billion as against $7.66 billion a year ago.The total exports during April-January 2016-17 stood at $220.93 billion compared to $218.53 billion, accumulating ...
India's trade deficit with China swells $53 billion in 2015-16
The Dollar Business Bureau India's trade deficit with China has surged to $52.68 billion in the 2015-16 fiscal from $48.48 billion in 2014-15, a senior minister informed on Monday. "Increasing trade deficit with China can be attributed to the relative demand for imports in India and China for each other's goods," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha. Sithraman underscored that the government is trying to diversify the country’s exports basket, while focusing on cutting its import bills. She said India would focus on exporting manufactured goods and services to its neighbor, and it would also streamline market access issues and non-tariff barriers. India imports majorly chemicals and drug intermediaries, computer hardware and peripherals, electronic components, fertilisers, ...
Indias exports see marginal growth in June after 18 months
The Dollar Business Bureau India’s exports have recorded a positive growth of 1.27% in June 2016 for the first time after a gap of 18 months. The exports from the country are valued at $22.6 billion (Rs.151905 crore) during the month of June, against $22.3 billion (Rs.142342 crore) during the same month previous year, Ministry of Commerce & Industry said in a statement on Friday. According to data provided by the ministry, the overall exports from the country have declined 2.07% during the first quarter (Q1) of FY 2017 at $65.3 billion (Rs.436961 crore) against $66.7 billion (Rs.423315 crore) in the corresponding period previous fiscal year. The exports to the countries of USA, Japan and China have decreased 7.44%, 2.23% and 1.79% respectively ...
Indias exports may remain a weak link: CRISIL
The Dollar Business Bureau | India’s exports are likely to remain weak due to subdued global growth, research firm CRISIL said in a report on the Indian economy – ‘Choosing trend over cycle’ released on Monday. The country’s exports as well as imports have fallen down which made the trade deficit remain mute so far, and CRISIL believes this could prove transient. When there is structural weakness in the trade, imports would increase as domestic demand and investments upsurge, and commodity prices would stabilise. India’s target to double the exports of goods and services to $900 billion by FY 2020 from $470 billion in FY 2015 might prove a tad too ambitious if the current cyclical slowdown lasts and structural issues are not addressed, ...
Trade deficit with Gulf nations dips 77% in 3 yrs
The Dollar Business Bureau The charm that was once distinct with the Gulf is fast waning. India’s export and remittances figures show there has been a decline, but trade pundits predict that it is not as bad as the numbers may seem to be. India’s trade deficit with the Gulf Cooperation Council (GCC) has declined $46 billion, or 77% in three years, to $14 billion due to a rapid decline in imports claim analysts at the global analytical firm Crisil. The remittances from GCC have dipped for the first time in last six years, it said. Remittances from the GCC have decreased 2.2% to $35.9 billion in FY 2016 from $36.7 billion in the same period last year. But these remittances have more ...
India signs agreements with China to reduce trade deficit
Sachin Manawaria | @TheDollarBiz India has signed MoU (Memorandum of Understandings (MoUs) worth over $2.46 billion with China at a conference jointly organised by Federation of Indian Chambers of Commerce and Industry (FICCI) and China’s Zhejiang Federation of Industry and Commerce. The MoUs include a $1.5 billion deal between Kunlun Chuangyuan Investment Co Ltd and Kiri Infrastructure Pvt Ltd for the India International Trade Centre in Gujarat project and a $500 million Solar project Co-investment between SunEdison Energy India Pvt Ltd and CHINT Solar (Zhejiang) Co Ltd. Source - Ministry of Commerce, India Amitabh Kant, Secretary (DIPP), India’s Ministry of Commerce and Industry, said, “There is a need for the dynamic entrepreneurs of India and China to collaborate and deepen the business ...
Making 'Proudly Made in India' a reality!
Steven Philip Warner | @TheDollarBiz It’s been more than a decade-and-a-half since India got caught in the Regional Trade Agreement (RTA) hysteria. RTAs (a parallel term used to describe Free Trade Agreements; FTAs), was born out of hope for reciprocity. Years later, we stand to realise that the expectations and imaginations of our many trade negotiators – responsible for 15 RTAs over the years – were skewed towards finding neverland! In the last decade (post which thirteen of the fifteen RTAs were signed), our exports to two dozen-plus RTA partners have increased by just 12.2% year on year – almost equal to the rate at which our exports to non-RTA geographies (11.8%) have grown. A couple of numbers will help make more ...
