Indias trade with China stands at $50.19 bn, deficit at $36.73 bn in Apr-Oct
The Dollar Business Bureau During the first seven months of 2017-18, the trade deficit with China stood at $36.73 billion against the $51.11 billion in the fiscal of 2016-17, Minister of State for Commerce & Industry CR Chaudhary informed the Parliament on Monday. During the period April to October, India’s bilateral trade with China stood at $50.19 billion as compared to $71.45 billion in the entire financial year of 2016-17, as per the provisional data for the period placed by Chaudhary in the Lok Sabha. “Increasing trade deficit with China can be attributed primarily to the fact that Chinese exports to India rely strongly on manufactured items to meet the demand of fast expanding sectors like telecom and power, while India's exports to ...
Car sales up 9.53%, passenger vehicles up 16.68% in Aug: SIAM
The Dollar Business Bureau Things seem to be looking good for the automobile industry in India. The Society of Indian Manufacturers (SIAM) released optimistic growth figures of car and passenger vehicles sales in August. According to SIAM, Domestic passenger vehicle sales grew 16.68% to 2,58,722 units in August from 2,21,743 units in the same month last year. Car sales were also up by 9.53% to 1,77,829 units as against 1,62,360 units in August last year. Motorcycle sales also jumped last month by 22.19% to 10,05,666 units as against 8,23,051 units a year before. In all the two wheeler segment sales in August grew 26.32% to 16,48,883 units compared with 13,05,248 units in the same month a year ago. The sales of commercial vehicles rose by 1.53% ...
Sitharaman urges Bahrain to raise investments in India
The Dollar Business Bureau Nirmala Sitharaman, Minister of State for Commerce and Industry on Thursday urged Bahrain to increase its investments in India, emphasising on the opportunities for investment in the country. In a discussion with Zayed R. Alzayani, her counterpart in Bahrain, the Minister stated, “ the high investment opportunities in India and requested Bahrain to increase its investments in India.” During their meeting, the Bahrain Minister stressed on the strong ties between the two nations and said that India is an important partner for Bahrain. The bilateral trade between India and Bahrain stood at around $1.2 billion in 2013-2014, which has increased manifold from just $220 million in 1999-2000. India mainly imports crude oil, petroleum products, ores, slag/ash, ...
CIM to focus on boosting exports and SEZ revival
The Dollar Business Bureau To boost exports, which are declining since December 2014, the Ministry of Commerce and Industry will ask for export credit to qualify as the priority sector and want to emphasise on the special economic zones (SEZs) revival, as the Ministry found six areas to support the exports in goods. The discussion took place during the first meeting of reconstituted Board of Trade, a top advisory board on trade, re-formed as per the provisions of the Foreign Trade Policy (FTP) for 2015-20. In the meeting, chaired by Nirmala Sitharaman, Minister of State for Commerce and Industry, it has been decided to put greater emphasis on encouraging exports by small and medium enterprises (SMEs), involving embassies and missions to enhance ...
Manufacturing is actually picking up: Commerce Minister
The investment offers and MoUs that have been signed so far in the Make in India week are an indicator that manufacturing is gaining traction, Sitharaman said Source: PTI The Central Statistics Office (CSO) has projected a growth rate of 7.6% for the current fiscal, the highest in the last five years Trying to instill confidence in the investor community, Union Minister of State for Commerce and Industry Nirmala Sitharaman on Monday said manufacturing in the country is picking up and the perception that there is slack in the sector is wrong. Manufacturing is actually picking up. The last quarter figure showed that the country's GDP growth will be over 7%. It also revealed that manufacturing is growing over 9%. Actually, the perception ...
Guardians of India's foreign trade now invite all to Serve from India
The Dollar Business Bureau In a big boost to India’s services industry, the new Foreign Trade Policy (FTP), which was released by Minister of State for Commerce and Industry Nirmala Sitharaman, on Wednesday, has made duty credit scrips available to services exporters fully transferable. A long time demand of the services industry and an idea that The Dollar Business has long been advocating, the move will not only incentivise services exports, but will also increase the volume of trading in scrips. Earlier, services exports, which were incentivised under the Served from India Scheme (SFIS), used to provide exporters scrips that were not transferable. But under the new scheme – Service Exports from India Scheme (SEIS) – scrips are fully tradable. ...
