Search Result for : Merchandise Trade

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 ...

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 ...

Himanshu Vatsa | The Dollar Business Even though the government is optimistic about the country’s economic growth, India will have to face many challenges to maintain its trade deficit, say experts. According to the latest report of the World Trade Organisation (WTO), growth in the global merchandise trade is unlikely to show healthy trend in the coming years due to slowdown in the world economy. In its April 2015 report, the WTO reduced its forecast for international merchandise trade in 2015 and 2016. According to estimates, the global merchandise trade will grow by 3.3% this year and by 4% in the next year, less than previously forecast, mainly due to sluggish economic growth. When asked what does this mean to India, ...

The Dollar Business Bureau The Indian government has taken a slew of measures to help revive India’s shipping industry and more reforms are likely to be announced soon to help speed up the transformation. India’s merchandise trade is heavily dependent on seaborne trade and ports. According to the Shipping Ministry, India’s shipping industry accounts for around 95% of India’s total merchandise trade by volume and 70% in terms of value. Meanwhile, total cargo traffic in India is forecast to grow to around 1,758 million metric tonnes (MMT) by 2017, up about 92% from around 911.5 MMT in 2012.  However, complicated procedures, lack of connectivity and slow paperwork has prevented the shipping industry from transforming itself and meet growing needs. ...

The Dollar Business Bureau | @TheDollarbiz The latest initiative aimed to boost manufacturing in India (Source: Make in India)   Prime Minister Narendra Modi has launched the ambitious ‘Make in India’ initiative in New Delhi today with simultaneous launches taking place at state level and in Missions abroad. While India’s Government-to-Business (G2B) platform, Invest India, aims to be the first point of contact for foreign investors and to provide assistance in obtaining regulatory clearances, the government has developed an exclusive web portal www.makeinindia.com to answer queries from businesses across the globe. Both the initiatives, along with the government’s e-Biz portal, aim to boost manufacturing in the country, lower imports, and increase India’s share in the global export market. At present, India is ...

The Dollar Business Bureau | @TheDollarBiz Source - WTO secretariat   The World Trade Organisation (WTO) has lowered its forecast for global trade growth in 2014 to 3.1%, down from 4.7% estimated in April this year. WTO says that the downward revision is mainly due to sub-par trade growth in the first half of 2014. WTO economists have also lowered their estimate for trade growth in 2015 to 4% (down from 5.3% estimated in April) in anticipation of continued geopolitical tensions and uneven growth in the coming months. WTO Director-General Roberto Azevêdo said, “International institutions have significantly revised their GDP forecasts after disappointing economic growth in the first half of the year. In light of this, the WTO’s forecasts for trade ...