Search Result for : Indias Exports

The Dollar Business Bureau  Ajay Kumar Bhalla, the Director General of Foreign Trade will be leaving the charge of Directorate General of Foreign Trade (DGFT) on June 30.  Bhalla, a 1984 batch IAS officer of the Assam-Meghalaya cadre who earlier served as the Additional Secretary in the Ministry of Commerce, will be joining as the new Power Secretary. He will take over the new charge from Power Secretary P K Pujari, who is retiring on June 30.  “The new name for the post of DGFT has not yet been decided. It will be decided within a day or two,” sources in DGFT office told The Dollar Business.  Bhalla, who had taken the charge in October 2016, is the fourth DGFT to leave the post ...

Abin Daya It appears that India’s export performance is back on the growth track once again. After two years of decline, exports might hit a marginal positive growth figure this year. The recovery of petro exports in value terms due to the rise in crude oil prices is one of the reasons for this growth. However, the much steeper rise in imports has widened the trade deficit, though the overall figure would still be lower than last year.  Indian exports will continue to be affected by headwinds to the global economy, though recovery in the US economy might provide some respite. The strengthening rupee is another concern for exporters as it takes away vital price advantage available to them. Talking about individual ...

The industry projected the countrys merchandise exports to reach up to $260 billion in the current financial year, about $50 billion less than that of 2014-15 The Dollar Business Bureau The countrys inbound shipments, too, contracted by 5.33% in February, thereby bridging the trade deficit gap to $6.5 billion, its lowest since March 2011 Indias merchandise exports fell for the 15th straight month in February, 5.66% to $20.74 billion, largely due to tepid global demand, fall in petroleum and engineering goods shipments and volatile global currency market. The countrys inbound shipments, too, contracted by 5.33% in February, thereby bridging the trade deficit gap to $6.5 billion, its lowest since March 2011. A huge decline in gold imports - from 85% increase in January this ...

In January, Oilmeal exports registered a maximum decline at 77.57%, followed by petroleum products at 35.18% and rice at 33.46% The Dollar Business Bureau Imports fell by 11.01% to $28.71 billion in January this year, thereby bridging the trade deficit gap to $7.63 billion   India’s exports slumped for 14th straight month in January as outbound shipments of major commodities contracted by 13.6% to $21.07 billion from $24.93 billion a year ago. Imports fell by 11.01% to $28.71 billion in January this year from $32.26 billion in January 2015, thereby bridging the trade deficit gap to $7.63 billion. “Cumulative value of exports for the period April-January 2015-16 was $217.68 billion as against $264.32 billion, registering a negative growth of 17.65% over ...

The Dollar Business Bureau    India’s exports fell for the 13th straight month in December amid a global slowdown, falling commodities and oil prices and further devaluation of Chinese currency. Outbound shipments contracted by 14.75% to $22.29 billion in December as against that of December 2014. Despite the decline, the industry is quite optimistic about the December exports data. In November, outbound shipments had shrunk by 24.43% to $20 billion. Among the top traded commodities last month, 15 out of 30 product groups have shown positive performance as against 7 out of 30 in November 2015. Out of the 15 items, five have achieved an impressive growth of over 25% growth. Jute manufacturing including floor covering exports cloaked an impressive growth ...

The Dollar Business Bureau The Cabinet Committee on Investment (CCI) has resolved 332 projects worth Rs. 11.5 trillion by mid-December 2015, largely concentrated in steel, power and road sectors   The recovery in Indian economic activity remains tentative and narrowly focused in sectors such as roads, railways, power transmission and passenger vehicles, credit rating agency ICRA said in its latest report. The value of new projects announced during the second quarter of this fiscal was at Rs.3.3 trillion and these projects were mainly related to machinery, electricity, chemical, transport equipment and services sectors. The report underlined that despite positive consumer sentiment, the country’s capacity expansion will fail to keep pace with project announcements. “Availability of budgetary outlays for financing of infrastructure ...

Source: PTI    Sri Lanka will never sign the long- pending CEPA with India mooted during the previous Mahinda Rajapaksa regime, Prime Minister Ranil Wickremesinghe on Wednesday told parliament but said Colombo will instead enter into a new economic and technology pact with its neighbour next year. Wickremesinghe’s clarification in the Sri Lankan parliament came a day after trade union of state doctors – Government Medical Officers Association (GMOA) – claimed that the government is trying to sign the Comprehensive Economic Partnership Agreement (CEPA) with India under a new name. “Our government will never sign the CEPA agreement under any circumstance, and that it won't be signed under another name,” he said and lashed out at GMOA for “misleading its members ...

Early signs of a turnaround are visible in some export sectors such as readymade garments, pharmaceuticals and electronics, RBI said Source: PTI The decline in bullion imports helped narrow the trade deficit in October as well as over the financial year so far   Early signs of a turnaround are visible in some export sectors such as readymade garments, pharmaceuticals and electronics despite persistent weakness in global trade, the Reserve Bank said on Tuesday. In the external sector, exports contracted for the 11th month in a row in October, indicating the persisting weakness in global trade, RBI said in its 5th bi-monthly monetary policy review statement in the current fiscal. Excluding petroleum products, however, the decline in exports was more moderate and early signs of ...