Depending on China: In recent years India’s exports to China have decreased while imports from China have increased significantly In 2022, India’s imports from China touched a record high, while exports to China fell to a five-year low. This imbalance has further widened the trade deficit. Electrical machinery and electronic appliances were the most imported … Read more
Despite various headwinds, India’s overall foreign trade has shown steady growth. The country’s overall exports (merchandise and services combined) in October 2022 are estimated to be USD 58.36 billion, exhibiting a positive growth of 4.03 per cent over the same period last year. Overall imports in October 2022 are estimated to be USD 73 billion, … Read more
Soaring wheat prices in India could prompt price-cooling measures such as the release of state reserves into the open market while axeing the 40% tax on imports, trade and government sources said on Thursday. The government has been trying to rein in food inflation, but its efforts have been complicated by wheat prices that have … Read more
The rupee has dropped nearly 7% against the US dollar in the year to date, falling to a low of Rs 79.96 to a dollar last week and even breaching the psychological 80-mark in the over-the-counter and derivatives markets. Nomura expects INR to fall to `82 in the third quarter of this calendar year. In … Read more
The commerce and industry ministry is likely to discuss with exporters and industry representatives next week import substitution of 100-odd products whose imports are high and have a significant share in the country’s overall inbound shipments. The meeting is likely on May 10, according to sources. The meeting follows the identification of 102 priority items … Read more
Merchandise exports touched a record $40.38 billion, while imports rose to $59.07 billion, a government source said on Friday, referring to provisional trade data. Monthly trade deficit in March was estimated at $18.69 billion, according to Reuters calculations. Merchandise exports for the financial year 2021/22 ending in March touched $417.81 billion while imports rose to … Read more
Feb. 14, 2022 The United States has suspended avocado imports from Mexico because a U.S. plant safety inspector in Mexico was threatened, The Associated Press reported. The suspension started Saturday after the inspector was threatened in Michoacán, the only Mexican state authorized to export avocados to the United States. “U.S. health authorities … made the … Read more
Ahead of the Union Budget, industry body FICCI has requested the government to reduce the basic customs duty (BCD) on ferronickel to zero and levy a higher duty of 12.5 per cent on the import of stainless steel flat products. Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for FY2022-23 on February … Read more
India’s exports rose by 43 per cent to USD 35.65 billion in October while trade deficit widened to USD 19.73 billion during the month, according to the official data released on Monday. Imports soared by 62.51 per cent to USD 55.37 billion widening the trade deficit. Export sectors which recorded positive growth during October include … Read more
Led by engineering goods, petroleum products and gems and jewellery, India’s merchandise exports increased for the eleventh consecutive month in October and grew 42.33% on year at $35.47 billion. Official data released on Monday showed a 62.48% rise in imports leaving a trade deficit of $19.9 billion compared to $9.15 billion and the 14-year high … Read more