Imports also fell 11.53 per cent to $33.6 billion (year-on-year) in October 2020
Showing signs of improvement, the country's exports grew 22.47% year-on-year to 6.75 billion in the first week of November, driven by healthy growth in pharmaceuticals, gems and jewellery sectors
Exports during April-October 2020-21 stood at $150.07 billion, registering a decline of 19.05 per cent over the same period last year
The trade deficit in September was $2.72 billion, compared to $11.67 billion in the year-ago month
Development marks yet another sign of revival as imports continue to decline, albeit at a slower pace, trade deficit shrinks
During 2018-19, foreign exchange spending mostly on capital goods stood at 25.5 per cent of total sales
Import contraction restricted to 26 per cent in August due to surge in gold purchases from abroad
Profits of Bharat Forge, Bajaj Auto and Balkrishna Industries will also be hit
It called for upgrading agri infrastructure, improving efficiency levels in the supply chain and putting emphasis on value addition.
Rule 3(3)(a) of the Customs Valuation Rules, 2007 provides that where the buyer and the seller are related, the circumstances surrounding the sale will be examined
Shipments to China rose by over 1,400 per cent to $524 mn in June from just $35 mn in the same month last year
Country may see current account surplus for the second quarter in a row in Q1 of FY21
The specific provision under the Customs Act, 1962 is Section 26A that allows refund of import duty if the imported goods are found defective
Tough talk on Chinese goods in FY20 leads to lower imports, narrowing trade gap
Prices of some grades of PPE have crashed by over 65 per cent in the last one and a half months owing to glut in the domestic market.
Apex exporters body warns blanket ban on Chinese goods will hurt Indian industry, pushes for FTAs blanket bans
Exports were happening on humanitarian grounds but with necessary permission
From toys and plastic goods to sports items, and furniture - goods worth $127 billion - could be placed under restrictions
During April-May 2020, the exports fell 47.54 per cent to $29.41 billion, while imports shrank by 5.67 per cent to $39.32 billion
If we turn protectionist, I don't know how can we be an exporting power. Self-sufficient exporting powerhouse is an oxymoron," he said.