"Imports are down by 13.9%, exports are down by 6.6%. Meaning, thousands of jobs are lost every month. 2. Bank credit declines by Rs. 80,000 crore in five months between March and August 2019. Meaning, there is practically no new investment," he said in the tweets.
Piyush Goyal also announced the launch of a new scheme called NIRVIK (Niryat Rin Vikas Yojna) by the Export Credit Gurantee Corporation of India.
All the measures announced are unlikely to make anything more than a marginal impact on the export performance.
India's goods exports in July posted a marginal growth of 2.25 percent (year-on-year) to $26.33 billion as out-bound shipments from major sectors such as petroleum, gems and jewellery, engineering goods and leather registered a decline.
He feels countries across the globe would look to weaken their currencies to boost growth as it makes exports cheaper
For sustained exports, competitiveness is the key, which depends on factors ranging from cost of credit, logistics cost, transaction cost, currency movement, productivity, skilling, marketing and branding.
The tech giant has already begun export of Made in India iPhones but is seeking a ‘globally competitive tariff regime’ to boost its export (shipping and sales) margin
In this episode of Editor's Take, Moneycontrol's Sakshi Batra talks to Deputy Executive Editor Gaurav Choudhury to find out how India can boost its exports.
The US has rolled back incentives under its Generalised System of Preferences (GSP) programme from June 5.
The proposal is part of a 100-day action plan prepared by the ministry for the new government which will take office on May 30.
In the absence of much-needed reforms, India will not be able to attain higher growth in a sustainable manner and the government would run the risk of wasting a historic mandate.
Resolution of the current trade disputes may not be enough to change the trend in global trade.
Consumption, investment, government spending and now exports have all been hit
As India is implementing trade facilitation and is trying to improve ease of doing business, it is important to amend the 2010 regulation and allow the entry of perishable cargo through the fast track route.
The ministry has proposed to set up a separate logistics department to be headed by a secretary with a view to enhancing growth of the sector, which is fundamental to boost exports, imports and overall economy.
Niti Aayog and the Commerce Ministry are in discussions to evaluate the EPCs.
In the light of rising protectionism, India will need to work with trading partners to protect its interests.
Ministry of Finance data out on Wednesday showed exports fell 2.4 percent in March from a year earlier, compared with a 2.7 percent drop predicted by economists in a Reuters poll, and followed a 1.2 percent decline in February.
BPCL sold 35,000 tonnes of naphtha for May 2-3 loading from Kochi to Japanese trader Petro-Diamond at a premium of about $16 a tonne to its own price formula on a free-on-board (FOB) basis.
Several commitments in the manifesto can alter the terms of trade in favour of farmers.
FIEO President Ganesh Kumar Gupta said the federation offered assistance to the state to increase its share from 1.6 per cent in the country's exports to over 3 per cent in the next five years.
The renegotiated US trade agreements include a clause for nations to notify the US about any trade arrangement with China.
Trade deficit with China increased to $63.12 billion in 2017-18 from $51.11 billion in 2016-17.
The Azeri ministry issued the statement on Tuesday following talks in Baku between Azerbaijan's energy minister and Venezuelan oil minister and president of state-run oil company PDVSA, Manuel Quevedo.
Slowing global growth, the Sino-U.S. trade war and complications over Britain's exit from the European Union have already forced many policymakers to shift to an easing stance over recent months.