ECONOMY
Exports drop 0.25% in February after rising for two months, preliminary data show
However, inbound trade has continued to rise, pushed up by a surge in gold imports. As a result, the trade deficit also climbed up by more than 25 percent to $12.8 billion in February.
BUSINESS
Exports share of GDP reached its lowest in Q3 as sector waits for manufacturing to fully fire up
Analysts and exporters say chances of exports' share of the economy improving in the upcoming fourth quarter remain slim, given the slow recovery in manufacturing, and the liquidity crunch being faced by many exporters in the current quarter.
ECONOMY
Slower-than-expected recovery may push down Q4 GDP growth, depress FY21 estimates: Economists
Despite GDP growing in the third quarter, the government now predicts the economy will shrink by a slightly larger margin of 8 percent in FY21, up from the earlier estimate of 7.7 percent. Economists say that this contrasting position in official statements springs from the fact that growth in key sectors are muted and COVID-19-related uncertainties remain strong.
ECONOMY
Q3 GDP to register marginal growth after record falls in first half of FY21, economists say
While the economy has shrunk by as much as 15.7 per cent in the first half (April-September) period, it needs to register atleast a slight growth to cushion the ongoing contraction and stick to the government's first advance estimate of an overall 7.7 per cent GDP fall for 2020-21, economist and analysts stressed.
BUSINESS
Exclusive | Government feels worst is over for India's exports as non-oil, non-jewellery shipments rise steadily
The Commerce Department has told the Prime Minister's Office that India's exports are safely out of the COVID-19 induced global trade slump, pointing towards exports from categories other than the volatile processed petroleum, gold, diamond and jewellery, according to sources.
ECONOMY
Exclusive | India reaches out to Biden administration, asks US to restart key annual dialogue
Keen to restart talks on the proposed India-US limited trade deal, New Delhi's first step towards rapprochement is also intended to break the ice on strategic economic issues that have gone cold over the past 4 years under former US President Donald Trump, senior sources in the know said.
BUSINESS
CAIT to organise mass agitation to protest against anti-competitive practices of Amazon: Praveen Khandelwal
In order to abide by the laws on papers, Amazon in February restructured its partnership with companies such as Catamaran Ventures through which it runs a venture called Cloudtail, one of its preferred vendors.
ECONOMY
Exclusive | Exporters yet to receive tax refunds of Rs 25,000-30,000 crore from Centre as liquidity crisis hits hard: FIEO
The government's largest export incentive policy, the Merchandise Exports from India Scheme (MEIS), has been discontinued from January 1, 2021. Covering upto 75 per cent of India's total exports, it was a crucial support to exporters. Now, even as tax refunds under MEIS remain stuck with the government, exporters say that it's replacement, the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme, is unfinished and insufficient.
ECONOMY
Exclusive | India pushes post-Brexit UK for easier visa norms, lower trade barriers
Ahead of Boris Johnson's visit later in 2021, India and the UK are sitting at the negotiation table.
