BUSINESS
Exclusive | Highest-ever quarterly exports in Q1 FY22 were led by finished goods
A resurgence in orders, demand from new markets and higher global prices resulting from trade volatility since last year have boosted India’s exports of manufactured products such as engineering goods, plastics, chemicals, drugs and electronics
BUSINESS
Government won't change FDI rules for e-commerce, says Commerce Minister Piyush Goyal
The minister has said the RoDTEP rates involving 11,000 export items will soon be announced. The government is also keen on launching its national single window portal for industry clearances and approvals.
WORLD
Explained | What is the Regional Center Program of the USA's EB-5 visa scheme and why has it lapsed?
The favourite cash-for-passport project of well-heeled Indians, the United States of America’s EB-5 visa scheme, has come up against a major hurdle. Here is a detailed look into the latest developments.
ECONOMY
Exclusive | Electronics imports from China again rise in FY21 despite govt efforts
Import of Chinese electronics items including mobile phones have risen in 2020-21 despite higher duties and incentives for local manufacture, but they are still lower than imports in 2018-19 and the preceding two years
ECONOMY
Eight core industries' output rose 16% YoY in May, data show
The cumulative output of the core sector industries in the first two months of FY22 has risen by 35 percent, as compared to a 30 percent fall in the same period of the previous financial year.
TRADE-2
Exclusive|Biggest scheme for export insurance remains a non-starter even as govt announces major funds
The Niryat Rin Vikas Yojana was announced in September 2019, and served as the anchor in the government's plan to boost trade in Budget 2020. It is yet to be implemented.
ECONOMY
EXPLAINED | Why is government betting on project exports, larger export insurance cover?
At a time when directly generating demand is the need of the hour, the government has chosen to pump in money into schemes which will bear fruit slowly. But the announcements in the export sector are set to have long term impact in augmenting India's export footprint globally.
ECONOMY
EXPLAINED | The credit guarantee schemes announced by FM to ease Covid-induced financial pain
Finance Minister Nirmala Sitharman on 28 June listed out initiatives costing a total of Rs. 6.29 lakh crore. The overwhelming majority of this however, will be spread across the series of credit guarantee schemes spread across sectors. We take a look at the details.
ECONOMY
Inter-ministerial tiff over scheme implementation holds back national logistics policy: Sources
Policymaking and implementation in logistics remain as fragmented as the sector and that’s said to be delaying an ambitious policy that aims to cut the time taken to move goods across the country, reduce inflation and boost exports.
ECONOMY
Proposed retaliatory tariffs by the US will hit jewellery sector hard: GJEPC chairman Colin Shah
Shah says with global demand rising, exports to the US, Hong Kong and the United Arab Emirates have grown steadily. But at home, key sectors like gold and diamond are pinning their hopes on a major revival after the pandemic.
ECONOMY
FDI equity inflow rose 60% to $4.4 billion in April 2021
While computer software and hardware remained the top sector drawing in the most FDI equity, the education sector has surprisingly received the third-highest foreign investments in April.
BUSINESS
Higher commodity prices behind rise in exports to China in pandemic year
In the year, when the pandemic restricted trade, upended logistics networks and shut down factories, India's exports to China rose 27.7 percent in FY21. A closer look at official figures however show that the growth was fueled by higher prices of iron ores, organic chemicals and petroleum.
BUSINESS
Gold imports crash as manufacturers expect slow sales ahead of marriage season
Even as the second wave of COVID recedes, economic uncertainty, lower disposable incomes and the looming spectre of the third wave have severely dent demand. As manufacturers count their unsold inventory ahead of the biggest-selling season, jobs in the labour-intensive sector remain at stake.
INDIA
Explained | Minimum Income Support, Universal Basic Income - where does India stand?
Two successive waves of COVID-19 have severely battered the economy, pushing large segments of the urban migrant workers and rural poor towards poverty, as unemployment rises. As the debate over whether the government should start providing direct income support to raise consumption and dispense financial safety gathers momentum, a look at the two main ways it can be done, and the experiences from around the globe.
ECONOMY
Country specific strategies, diplomatic push and targeted promotion ensured stellar FY21 for Agri exports
Stagnant for the past three years, India's agricultural exports saw a major rise in pandemic riddled FY21, even as all other sectors witnessed a dip in forex earnings. This comes two years after the Agriculture Export Policy was announced. The policy tapped into global demand and expanded the farm export basket. Pleasantly surprised policymakers are now hoping to recreate this success story in other sectors
TRENDS
Government should provide Rs 3 lakh crore stimulus to shore up demand: CII president Narendran
Narendran asked the government to infuse another Rs 20,000 crore in public sector banks and also suggested a national pandemic fund to guard against financial risks arising out of such events.
ECONOMY
May exports up nearly 70% due to low base effect
The extremely large rise in exports have been observed for the past 2-months. They are due to the extremely low volume of trade beginning in March, 2020 when the nationwide lockdown had been first instituted.
TRENDS
Exclusive | Govt defends record wholesale price rise, says states also to be blamed for soaring fuel prices
With wholesale inflation hitting a record 12.9 percent in May, and fuel prices continuing to soar, the Centre is now shifting the blame to states, high global commodity prices and a low base effect.
ECONOMY
G7 plan to dislodge China as biggest source of infrastructure funding to benefit India
While parts of the G7 countries fund may later reach India through climate financing and sustainable development grants, officials say its biggest ripple effect will be in containing Chinese influence over India's traditional allies, who have increasingly veered towards Beijing following the Big Dragon's massive infrastructure investments
TRENDS
Close ties expected to continue under new Israeli PM Naftali Bennett, officials say
Unseating Benjamin Netanyahu, Israel's Premier for the past 12-years and a self-avowed close friend of India, the new prime ministership has implications for India's trade ties and foreign policy in the larger Middle East, officials say. However, given the current pace of growth in bilateral relations, no significant changes are foreseen currently, they add
ECONOMY
May wholesale inflation reaches record 12.94% as high fuel costs continue to hurt
Fuel inflation has nearly doubled for three straight months now, hitting 37 percent in May, up from just 0.6 percent in February. Further pushed up by a 10.8 percent rise in manufacturing prices, wholesale inflation reached record level highs for the second consecutive month in May.
TRENDS
Interview | Investment protection, sustainability should be discussed in UK-India FTA: UK-India Business Council MD Kevin McCole
McCole says that while the FTA will unlock long-term growth for British companies in India, the bilateral Enhanced Trade Partnership agreement signed in April is equally important, given its focus on immediate issues like market access and ease of doing business.
TRADE-2
EAM Jaishankar's upcoming visit to Kenya aims to reaffirm India's commitment to Africa
The Foreign Minister is set to reassert India's focus on Africa's development as an 'equal partner' in this hour of crisis. New Delhi is banking on its assistance of COVID-19 vaccine to African nations and a series of upcoming bilateral exchanges to create support for the India Africa Forum Summit scheduled later this year, and to offset growing Chinese influence in the continent
TRADE-2
New products and bilateral outreach behind high agri export growth : Commerce Secretary
Agr exports jumped to $41.25 billion in 2020-21, from $35.16 billion in 2019-20
