Removal of restrictions is expected to contribute towards economic stability. Exports were prohibited from 8 Dec 2023 due to an estimated 20% decline in Kharif and late Kharif production.
Data shows that India’s refined petroleum exports went from $96.57 billion in FY23 to $61.41 billion in FY24. Experts say decline is mainly due to Russia-Ukraine war.
Exports fall to $3.38 trillion. This highlights a larger slowdown in global economy, while US & allies continue to push for friendshoring supply chains.
China has announced export controls on graphite days after US instituted curbs on semiconductor chips. Countries like India, in process of transitioning to green energies, to be affected.
The country's exports to the Gulf nation in the electrical machinery & equipment and automobiles sectors grew by 32% & 42% respectively year-on-year between April 2022-March 2023.
New FTP expects e-commerce exports to grow up to $200-300 billion by 2030. It also proposes reduced licence fees for MSMEs, provisions for merchanting trade & more.
February merchandise exports were $33.88 billion, up from $32.91 billion in January, while imports rose to $51.31 billion from $50.66 billion, data showed.
Bhupen Wakankar, director of global trade at Amazon India, says e-commerce export is the simplest way for any business to get access to international buyers.
Global trade growth fell in 2022, 'and is expected to be still lower in 2023 with a further decline in volume & value of trade on the back of slowing global output,' the ministry said.
Recommendations appear in Niti Aayog’s Tax Policy Working Paper Series–II. It says there is a need to shift away from fear-based enforcement to trust-based governance.
In service with the British military since 2019, it is also known as the Martlet missile. Ukrainians have also deployed these missiles against Russian troops.
Education, reservations, govt jobs are meant to bring equality and dignity. That we are a long way from that is evident in the shoe thrown at the CJI and the suicide of Haryana IPS officer. The film Homebound has a lesson too.
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