Page 4 - India Trade Deficit

Increasing exports, reducing imports new way ahead for patriotism: Gadkari

Increasing exports and reducing imports is the new way ahead for patriotism and "swadeshi", and it will be a "new freedom" for India when not a drop of petrol or diesel is imported, Union Minister Nitin Gadkari said on Sunday. Addressing the 'Sagar Manthan 2.0' event organised by weekly magazine 'Panchjanya', the Union Minister of Road Transport and Highways also said stopping the import of petrol and diesel was linked to arresting terrorism in the world. "Till this import is not stopped, terrorism will not stop across the world. The aim of my life is to stop import of petrol and diesel. I consider it to be a new freedom for India when not a drop of petrol and diesel is imported into the country," he said. "The import bill for petrol and diesel stands at Rs 16 lakh crore now. If we reduce this import, the money we save will go to the poor. That is why we have introduced alternative fuels like bio fuel. Reduction in imports and increase in exports is the way forward for patriotism an

India's exports shrink again in Nov after Oct high; trade deficit narrows

The deficit had widened to a record $31.5 billion in October, as festival demand led to a sharp increase in the import of gold and silver

Meeting the deficit target

The pressure to rein in capital expenditure and collect more tax revenue may increase

India's exports decline 2.6% to $34.47 bn in September: Govt data

India's exports declined by 2.6 per cent to USD 34.47 billion in September this year as against USD 35.39 billion in the same month last year, government data showed on Friday. Imports too fell by 15 per cent to USD 53.84 billion as against USD 63.37 billion recorded in September 2022. The country's trade deficit in the month stood at USD 19.37 billion. During April-September this fiscal, exports contracted by 8.77 per cent to USD 211.4 billion. Imports during the six-month period fell by 12.23 per cent to USD 326.98 billion. Meanwhile, Commerce Secretary Sunil Barthwal said, "Negotiations for the India-UK FTA (free trade agreement) are going on and we are ironing out the differences.

India's exports shrink 6.9% in August; trade deficit hits 10-month high

Govt assures 'greenshoots' are clearly visible

Trade deficit with Saudi Arabia at record high in FY23: CMIE data

India's imports from Saudi Arabia was worth $31.3 billion more than its exports to the country

Trade deficit widens to $20.67 bn in July compared to $20.13 bn in June

Merchandise exports in July stood at $32.25 billion, down from $32.87 billion in June and $38.34 billion in July 2022

Indian exports face bigger threat from Asia-Pacific than West: CRISIL

CRISIL also said that the share of the US and the EU in India's goods exports has been on the rise since 2021 and it is eating into the share of the APAC region

India's trade deficit falls to $20.13 bn in June from $22.1 bn in May

Services exports in June were $27.12 billion, while imports were $15.88 billion

Exports contract for 4th straight month; trade deficit hits 5-month high

Imports decline 6.6% in May

India's trade deficit rises to $22.12 bn in May, highest since Dec 2022

In May, imports fell 6.6% to $57.1 billion, and exports declined 10.3% to $34.98 billion

India's trade deficit widens to $19.73 bn, exports rose 6% to $447 bn

India's merchandise trade deficit in March 2023 stood at $19.73 billion, which was higher than $17.43 billion recorded in the previous month, according to government data released on Thursday

India's merchandise trade deficit in March stood at $13.7 billion

That was lower than the $17.43 billion recorded in the previous month, and below the $18.30 billion forecast in a Reuters poll

India should target $350 bn exports through e-commerce by 2030: GTRI

India should target USD 350 billion worth of goods export through e-commerce by 2030 and for that the government needs to address pain points of the sector by taking steps like formulating a separate policy, a report by economic think tank GTRI said. The Global Trade Research Initiative (GTRI) said the current e-commerce export provisions in India are a patchwork over the rules framed for regular B2B (business-to-business) exporters. India's e-commerce exports have the potential to grow at a faster pace than its IT exports did in the early 2000s, it said. With Global business-to-consumer (B2C) e-commerce exports estimated to grow from USD 800 billion to USD 8 trillion by 2030, India's strengths in high-demand customized products, expanding seller base, and higher profit margins per unit of export place it in a prime position to benefit from this trend. GTRI has identified 21 action points for accelerating the country's exports through online medium. India's current e-commerce expo

India's export cushion

Rising services surplus is likely to offset the goods trade deficit in the short and medium term

TMS Ep371: Trade deficit, Disney+ Hotstar, insurance stocks, Aadhaar Mitra

Is the fall in trade deficit a cause for cheer? Is Disney+ Hotstar in trouble? Should you buy insurance stocks amid current weakness? What is UIDAI's AI-based chatbot, Aadhaar Mitra? All answers here

Trade deficit hits 1-year low at $17.75 billion; exports, imports contract

Exports drop in 19 out of 30 sectors in Jan

Exports dip by 6.58% in Jan; trade deficit lowest in 12-months at $17.75 bn

Contracting for the second month in a row, India's exports dipped by 6.58 per cent to USD 32.91 billion in January due to slowdown in global demand, even as the trade deficit touched a 12-month low of USD 17.75 billion during the month, according to official data released on Wednesday. Imports in January too contracted by 3.63 per cent, the second consecutive month, to USD 50.66 billion. Cumulatively, however, during April-January 2022-23, the country's merchandise exports rose 8.51 per cent to USD 369.25 billion, while imports increased 21.89 per cent to USD 602.20 billion, the data showed. The merchandise trade deficit for the April-January this fiscal stood at about USD 233 billion. The country's exports had contracted by 12.2 per cent to USD 34.48 billion in December 2022. Last time, it was in January 2022, when the trade deficit touched USD 17.42 billion. Export sectors that recorded negative growth during the 10-months period of this fiscal include engineering goods, iron o

India's current account deficit in July-Sept rises sharply to 4.4% of GDP

Balance of Payments position sees depletion of $30.4 billion, says central bank

India's exports to G20 can more than double to $500 bn by 2030, says PHDCCI

India can scale up its merchandise exports to G20 nations to USD 500 billion by 2030 from the current USD 212 billion and significantly reduce trade deficit, industry body PHDCCI said on Tuesday. As the fastest growing economy in the G20 nations, India will play a significant role to convert uncertainties into opportunities, it added. "India's Presidency would be impactful for bringing stability at the most crucial juncture of geo-political conflicts, high inflation and slowing economic growth," said PHDCCI President Saket Dalmia. The prospects for expansion of exports with G20 are immense and merchandise shipments can be scaled up from USD 212 billion in 2021-22 to USD 500 billion by 2030, he said. India's enhanced integration with G20 countries will reduce its trade deficit with the grouping by more than 50 per cent by 2030 from the current level of USD 107 billion. At the 'Amrit Kaal' of India's 100 years of Independence, Dalmia said the industry body has identified 75 products