The commerce ministry said that India's imports in June 2021 grew by 96.33% to $41.86 billion from $21.32 billion last year and thus India is currently a net importer.
Exports of sectors such as engineering, gems and jewellery and petroleum products recorded healthy growth rates. During the same period, imports too rose by 98.33% to $19.59 billion.
According to the govt data, exports rose by 69.35% while imports grew by 73.64% to $38.55 billion in May 2021, from $222 billion in the same month a year ago.
Adopting Trade and Sustainable Development committments as part of India-EU FTA could help Indian exporters differentiate from competition such as China.
Exports are expected to rise by over 16% this fiscal. The industry recorded less than 3% growth in 2014-15 and 2017-18. In 2016-17, there was negative growth of 0.59%.
US sanctions on Russia as well as its determination to paint Vladimir Putin as the bad guy is driving Moscow into Beijing’s arms. Make no mistake, this is a willing embrace.
The report by the Group of Ministers stresses on the need to 'find ways to counter such negative campaigning' and ensure 'proper lobbying for Indian products'.
Global trade has been hit by shortage of containers & India’s situation is worsened by tensions with China that have reduced imports -- and incoming containers.
Tariffs will be eliminated on at least 92% of traded goods among the 15 nations that signed the RCEP. Meanwhile, some of India’s top 10 exports will face erosion in market share.
A theme has not yet emerged for BJP & people see lack of a contest, which makes it unexciting. For all these reasons, 2024 is turning out to be an unexpectedly theme-less election.
COMMENTS