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.
Several exporters can now be classified as MSMEs and avail 5% rebate under interest equalisation scheme
Apart from exports, imports too, tumbled 58.7% in April, with all major import products seeing a contraction.
The country has been perennially struggling with huge current account deficits.
According to data released by the commerce and industry ministry, exports stood at just $21.4 billion in March, as massive broad-based decline plagued all major foreign exchange earning sectors.
Trade deficit narrowed to $9.76 billion in march this year from $11 billion in the same month last year.
. According to the second government estimate, the country is set to harvest a record wheat production of 106.21 million tonne in the 2019-20 crop year on the back of good rains
The Nikkei India Manufacturing Purchasing Managers' Index (PMI) stood at 51.8 in March, after February's 54.5 - much below the eight-year high of 55.3 in January.
India is involved in 15 disputes at the WTO, mostly against the US: Minister tells Parliament.
What is unusual about the current period of slow growth is that it has come without an exogenous driver, unlike all previous periods of slowdown, going back 50 years, writes T N Ninan
India's 5 percent broken parboiled variety was quoted around $370-$375 per tonne this week, the highest since the last week of September
The ministry has also proposed to subsidise the premium under the scheme that has to be paid by exporters of certain key sectors
Among the major Asian countries, India and Indonesia are the only ones with a trade deficit in such products
Exporters not to worried for now, say concerns may kick in only if virus spread isn't controlled; leather sector stand to gain.
India's trade deficit stood at $14.49 billion in December 2018
The widely tracked Nikkei India Services Purchasing Managers Index (PMI) stood at 53.3 in December, up from 52.7 in November