Search Result for : M Rafeeque Ahmed

The Dollar Business Bureau Weakening of Euro will adversely affect India's Eurozone exports, which have already witnessed a decline during April-November 2014, said Rafeeque Ahmed, President, Federation of Indian Export Organisations (FIEO). Commenting on the sharp decline in the value of Euro bringing it to 14 years low against the US dollar, Mr Rafeeque said that such sharp and deep depreciation would affect India’s exports to Euro Zone significantly, which has already exhibited a decline of 0.18% in April-Nov, 2014 when it touched US$ 33.27 billion as against US$ 33.33 billion recorded in the same period in 2013. Eurozone, which consists of 19 countries, accounts for about 18.5 per cent of India's exports, most of them from traditional sectors such as ...

The Dollar Business Bureau | @TheDollarBiz    Higher imports of gold and a moderation in export growth have led to the expansion of India’s trade deficit to $14.25 billion in September 2014, which is up 132.71% from a deficit of $6.12 billion seen in September 2013. The Ministry of Commerce said, “This phenomenal increase in trade deficit is mainly due to rise in imports without adequate rise in exports.” In September 2014, India’s overall merchandise exports stood at $28.9 billion, which is up about 2.73% from $28.1 billion during September 2013. However, India’s imports in the month surged to $43.15 billion, which is up almost 26% compared to imports worth $34.26 billion in September 2013. Imports in September 2014 grew mainly due ...

The Dollar Business Bureau | @TheDollarBiz Aerial view of Dubai seaport (UAE). Dubai is considered as a major sourcing market for the Middle East, Africa, Europe, and also Pakistan.   The Federation of Indian Exporters Organisation (FIEO) has said that the India Expo in Dubai (October 15-16, 2014) is expected to boost bilateral trade between India and United Arab Emirates (UAE) by over $20 billion and will open opportunities in both trade and investment. UAE is a major destination for Indian goods and a strategic re-export market for India. According to FIEO, UAE is a gateway to several regions including Africa, West Asia and Europe and collectively represents $84 billion business. While bilateral trade between India and UAE has traditionally been strong, ...

The Dollar Business Bureau | @TheDollarBiz Amman is the capital and most populous city of Jordan   The Arab kingdom of Jordan has caught the fancy of Indian exporters after exports from India to the West Asian country soared to $554 million in April –July 2014, which is up about 137% from $234 million recorded in the corresponding period last year. While India’s Look East policy has garnered much attention in the recent months, thanks to the several visits of dignitaries to East Asian countries, exporters are wasting no time in boarding the plane to West Asia where much action is promised as a part of reconstruction efforts due to the Syrian war. The Jordanian government’s immediate focus is energy. Recently, ...

The Dollar Business Bureau | @TheDollarBiz Uneven growth among major economies and a slowdown in Europe has adversely affected India’s exports in recent months leading to a modest Y-o-Y growth of below 3% in August 2014. According to the Ministry of Commerce, India’s exports stood at around $26.9 billion in August 2014, up about 2.35% from $26.3 billion recorded a year earlier, but down about 2.8% from exports worth $27.7 billion recorded in July 2014. M. Rafeeque Ahmed, President, FIEO Cumulative exports during April – August 2014 of around $134.8 billion is still up about 7.3% from $125.6 billion in the corresponding period last year, but below the 8.62% growth registered for the April-July 2014 period. This does not augur well ...

A delegation from Vietnam is in India to promote investment in several sectors including IT, textiles and food processing The Dollar Business Bureau | @TheDollarBiz Vietnam is Indias 29th largest trade partner (ahead of Bangladesh), and is a growing market for India with bilateral trade between the two countries growing to $8.03 billion in FY2013-14, up sharply from $2.36 billion in FY2009-10. Last fiscal year, Indias exports to Vietnam grew around 37.2% y-o-y to $5.44 billion. However, there is still a huge potential waiting for Indian exporters, says the Federation of Indian Exporters Organisation (FIEO). (In $ thousand) Source - International Trade Centre India imports mainly electronic equipment and spices from Vietnam, while Indias exports to Vietnam comprise mainly agriculture and food products; ...

The Dollar Business Bureau | @TheDollarBiz  Though India has lost share in several major export sectors to Russia in the last 10 years, the decision by USA and EU to impose sanctions on Russia may help open new avenues for Indian exporters, says M Rafeeque Ahmed, President, Federation of Indian Export Organisations (FIEO). Despite strong bilateral ties, trade between India and Russia remains stunted. According to the Ministry of Commerce, trade between the two countries stood at around $6 billion in FY2013-14, which is a fraction of India’s total annual trade of around $764 billion, and there are 33 countries with which India does more trade than Russia. M. Rafeeque Ahmed, President, FIEO The FIEO President says that this is mainly ...

The Dollar Business Bureau | @TheDollarBiz M. Rafeeque Ahmed, President, Federation of Indian Export Organisations (FIEO), says that while the Reserve Bank of India’s decision to reduce the statutory liquidity ratio (SLR) of commercial banks by 50 basis points will provide the necessary liquidity, making exports a priority sector could improve India’s overall economy. M. Rafeeque Ahmed, President, FIEO Priority sectors are those sectors which may not get timely and adequate credit in the absence of this special dispensation, says RBI. At present, priority sectors include farmers, micro and small enterprises, poor people for housing, students for education and other low income groups and weaker sections for loans. Export credit is also under the PSL list, as per RBI’s February 2014 ...