Smaller deficit this year could be down to slowing Chinese economy. In terms of volume, Indian exports to China remain roughly one-tenth of Chinese exports to India.
Govt had announced in August that imports of laptops, PCs, tablets etc would require a licence. This has now been tweaked, but these items remain in 'restricted' category.
China accounted for 58% of inflow of 7 items imports of which are now restricted. Move could've been prompted by 'genuine apprehension of a future security risk’, it is learnt.
With exports worth $453 billion and imports to the tune of $723 billion, India’s overall international trade reached $1.17 trillion, 21% above previous year’s $969 billion, official data show.
RoDTEP gives refunds to exporters on embedded taxes & duties. But, Indian Steel Association says govt's move doesn't cover sector, which remains weighed down by 4-12% of levies.
Latest commerce ministry data shows electronic goods exports touched Rs 83,000 cr in the first 3 quarters of FY22 — a 26% rise over FY20, when the country hit its previous high.
Modi on 13 October launched the national master plan for multi-modal connectivity. It targets to cut logistic costs, increase cargo handling capacity and reduce the turnaround time.
Finance Minister Sitharaman further said there should be a simple approach between public sector banks so that exporters are not be made to run between banks to scout for better offer.
In terms of top investor countries, Singapore is at the top with 29 per cent share. It was followed by the US with 23 per cent and Mauritius with 9 per cent during the last fiscal.
While releasing 'India Employment Report 2024', V Anantha Nageswaran said govt can't solve 'all social, economic challenges'. Congress leader Kharge says CEA protecting 'dear leader'.
In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.
The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.
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