Indian exports unlikely to improve soon: DBS
The Dollar Business Bureau In the financial year 2015-16, India’s exports decreased by 16%, and may not improve soon due to a slump in global trade claimed DBS report. According to DBS, slowdown of global demand influenced Indian exports. Additionally, the strengthening of the rupee and weak commodity receipts performed their roles. Meanwhile, the International Monetary Fund and World Bank have demoted their outlook towards global growth, wherein many of India’s trade partners are going through a stagnant phase. "More measures to support the trade sector are on the cards,” said the report, while adding that the measures may give short-term relief to the external trade sector but not provide a universal solution. In March, exports dropped by 5.47% to $22.71 billion, marking a consecutive ...
Indias gold import goes up 140% in August
The Dollar Business Bureau Fall in gold price in the global market and increase in domestic demand ahead of the festival season have led to a steep surge in India’s gold imports to $4.95 billion in August, up 140% from the same month of last year. In August last year, the country imported the yellow metal worth $2.06 billion, according to the government data released on Tuesday. Import of silver also jumped 48.23% last month to cross $360-million mark from the level of $245 million in August 2014, the data said. During the last financial year, India’s total gold import was worth $34.32 billion, which was 19.58% up from the figure of $28.7 billion recorded a year ago. Increasing import of gold ...
