New Delhi: India’s merchandise exports rose 6.21% year-on-year to $33.57 billion in October, while the trade deficit swelled to a record as imports surged, buoyed by strong consumer spending ahead of the festival season. Gold imports almost doubled. The gap between exports and imports widened to $31.46 billion on the back of a jump in … Read more
The government is expected to extend export benefits under the RoDTEP scheme to iron and steel, chemicals and pharmaceutical sectors beyond September 30, according to a senior official. In December 2022, the government extended the benefits under the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme to chemicals, pharmaceuticals and products of iron … Read more
India’s merchandise exports contracted 10.3% year-on-year in May to $34.98 billion from $39 billion a year ago, data released on Thursday showed. Imports also shrank 6.6% on-year to $57.1 billion from $61.13 billion, leaving a trade deficit of $22.12 billion in May from $22.13 billion a year ago. Commerce Secretary Sunil Barthwal said headwinds still … Read more
New Delhi: The US has emerged as India’s top destination for merchandise exports during April-December this fiscal at USD 59.7 billion, Parliament was informed on Friday. In a written reply to the Rajya Sabha, Commerce and Industry Minister Piyush Goyal said the government has taken a series of measures to promote the country’s exports. The … 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
(This story originally appeared in on Mar 23, 2022) NEW DELHI: India achieved its ambitious target of crossing $400 billion exports on Wednesday, with 9 days remaining in the current financial year 2021-22. With this, India has achieved a key milestone in its journey towards becoming ‘aatmanirbhar’. This is the first time ever that exports … Read more
India’s exports rose 22.36% to $33.81 billion in February, led by engineering, petroleum and chemicals, preliminary data released by the commerce and industry ministry Wednesday showed. Imports grew 34.9% to $55 billion on the back of a sharp 66.56% jump in oil imports to $15 billion, widening the trade deficit to $13.12 billion. “A rebound … 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
As we prepare to enter post-Covid-19 era, an important question concerns the future of the global trading system, which has been under stress since well before the onset of the dreadful pandemic. Though global merchandise trade took a significant hit in the first half of 2020 and fell as much as 15% in the second … Read more
India’s trade deficit in goods widened to $14.11 billion in March from $9.98 billion during the same period a year earlier, preliminary data released by the government on Thursday showed. Merchandise exports rose 58.23% in March from a year earlier to $34 billion, while imports were up 52.89% to $48.12 billion, the data showed. Source … Read more