The previously set USD 900 billion goods and services exports target by 2020 now appear increasingly unachievable given still shaky conditions in the world economy
The trade policy will have to be tweaked to incorporate necessary changes that GST will bring about in India’s indirect tax structure
Australia is about to overtake Qatar as the world's largest exporter of liquefied natural gas. But most Australians face escalating power bills because state governments have restricted further gas exploration and no new coal-fired power stations are being built to replace aging generators that will soon be decommissioned.
The 14.9 percent annual increase in exports in May was the biggest rise since January 2015 and nearly twice the pace seen in April, though it was below analysts' expectations of 16.1 percent.
"Inputs from our engineering exporters indicate that shipping lines operating between India and Doha are keeping the containers on hold, the engineering trade body said.
That left the country with a trade surplus of $40.81 billion for the month, the General Administration of Customs said.
"Abattoirs' strike in March reduced supplies. Many slaughter houses failed to operate at full capacity in April," said a Mumbai-based exporter, who declined to be named.
The move comes at a time when the Indian IT companies are confronted by closer scrutiny and tighter visa norms in the US, a market that accounts for nearly 60 per cent of India's IT exports.
Software and services exports from Telangana were up by nearly 14 percent to Rs 85,470 crore in FY17 from Rs 75,070 crore in FY 16, Minister for IT and Industries K T Rama Rao today said.
After years of decline, Indian exports to China rose sharply in the first four months of this year registering a 20 percent increase to USD 5.57 billion, though the trade deficit continued to persist.
The shipments from these zones in 2015-16 were aggregated at Rs 4.68 lakh crore.
Exports rose 7.5 percent in April from a year ago, below the median estimate of 7.8 percent annual growth, finance ministry data showed on Monday. It followed a 12.0 percent rise in March.
Since September last year, exports are consistently going up and "I can see this as a clear indicator that our exporters are performing against all odds and showing their capacity to withstand any headwinds and the global situation," she told PTI in an interview.
The Labor Department said on Wednesday that import prices jumped 0.5 percent last month after gaining 0.1 percent in March. It was the fifth straight monthly increase and beat economists' expectations for a 0.2 percent advance.
"This year farmers received higher prices, so they are going to raise the area under cotton. We are expecting around a 15 percent increase," said Mekala Chockalingam, chairman of the state-runÂ Cotton Corporation of IndiaÂ (CCI), the biggest cotton buyer in the country.
Prime Minister Narendra Modi last month launched the first flight under the Regional Connectivity Scheme that is designed to spur air travel between smaller Indian cities that are currently under-served and to make flying more affordable. The government will cap fares under the scheme and offer airlines incentives to fly less traversed routes.
China's April exports rose 8.0 percent from a year earlier, missing analysts' expectations, while imports expanded 11.9 percent, official data showed on Monday.
Record exports from China and India are pressuring the margins downwards despite firm demand for air travel, the sources said.
Exporters' body FIEO today said the rupee appreciation during the last two months has negatively impacted the country's exports, and demanded immediate support from the government.
"Around 200 tonnes of mangoes have been exported so far this month. The exports will pick up pace in the coming weeks," a senior official of the Agricultural and Processed Food Products Export Development Authority (APEDA) told PTI.
A huge spike in gold imports pushed the trade deficit to USD 10.43 billion during the month under review from USD 4.4 billion a year ago.
Meat exports stood at Rs 27,610 crore in the financial year 2015-16, Rs 30,201 crore in the 2014-15 and Rs 27,720 crore in 2013-14, Minister of Commerce and Industry Nirmala Sitharaman said in a written reply to Lok Sabha.
In the entire 2015-16, these zones had received duty exemptions worth Rs 52,216 crore, according to the data given by Commerce and Industry Minister Nirmala Sitharaman in a written reply to the Lok Sabha.
Steel Minister Chaudhary Birender Singh said the country's steel output is at around 120 million tonnes and the government is aiming to achieve 300 million tonnes by 2030.
During the year, the company sold 69,290 units in the domestic market, clocking an increase of 18 per cent from the previous fiscal, Sonalika ITL said in a statement.