Wait...

Online Export Import Data Search Search

Complete Training Video : Click Here

Indian Exports Rise For Fifth Month As Commodities Rebound.


Date: 16-02-2017
Subject: Indian Exports Rise For Fifth Month As Commodities Rebound
NEW DELHI: India's goods exports rose in January for the fifth straight month on the back of stronger commodity prices, despite growing protectionist and anti-trade sentiment in the United States and Europe.

Merchandise exports grew 4.32 per cent year-on-year to $22.12 billion, while imports rose 10.7 per cent to $31.96 billion, the Ministry of Commerce and Industry said in a statement.

Oil prices - up nearly 18 per cent since the end of November - forced up the bill for crude oil, India's largest import item, by 61.1 per cent to $8.1 billion, threatening to reverse recent declines in inflation.

Countering that, oil exports also rose, by 29 per cent to $2.7 billion, as some crude oil is processed and re-exported by Indian oil refiners such as Reliance Industries.

The monthly trade deficit narrowed slightly to $9.8 billion. The deficit fell nearly $20 billion in 2015/16 as the cost of oil imports halved thanks to a slide in prices, a trade windfall to Prime Minister Narendra Modi's government.

Merchandise exports account for just 1.6 per cent of global trade, compared with nearly 14 per cent for China. Mr Modi wants to lift India's share to 5 per cent by 2020.

His ambitions, however, face headwinds from rising anti-trade sentiment worldwide.

U.S. President Donald Trump's "America First" trade policy as well as Britain's surprise vote last year to leave the European Union have clouded the global trade outlook.

With elections due in a number of major euro zone countries this year, very few see a let up in protectionist rhetoric.

"India is likely to face continued headwinds on the exports front due to the play out of Brexit and the anti-globalisation stance of U.S. President Donald Trump," Fitch subsidiary India Ratings' economist Sunil Kumar Sinha said.

India's Finance Minister Arun Jaitley has warned that a popular backlash against globalisation is a major risk for the nascent recovery in Indian exports.

A particular worry is Trump's immigration policies, which could cast a shadow on the fortunes of India's $146 billion IT services industry in its biggest market.

Underscoring the challenge, net services exports between April and December fell to $48.3 billion from $53.6 billion a year ago.

Source: profit.ndtv.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 16-11-2017
Notification No. 110/2017 - Customs (N.T.)
Exchange Rates Notification No.110/2017-Custom(NT) dated 16.11.2017

Date: 15-11-2017
Notification No. 109/2017 - Customs (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg

Date: 14-11-2017
Notification No. 108/2017 - Customs (N.T.)
Exchange Rates Notification No.108/2017-Custom(NT) dated 14.11.2017

Date: 09-11-2017
Notification No. 107/2017 - Customs (N.T.)
Exchange Rates Notification No.107/2017-Custom(NT) dated 09.11.2017

Date: 08-11-2017
Notification No. 106/2017 - Customs (N.T.)
Exchange Rates Notification No.106/2017-Custom(NT) dated 8.11.2017

Date: 08-11-2017
Notification No. 84/2017-Customs
seek to (i) increase rate of basic customs duty on Peas, (Pisum sativum) from present Nil rate to 50%. (ii) increase rate of basic customs duty on wheat from 10% to 20%.

Date: 07-11-2017
Notification No. 105/2017 - Customs (N.T.)
Exchange Rates Notification No.105/2017-Custom(NT) dated 7.11.2017

Date: 06-11-2017
Notification No. 104/2017 - Customs (N.T.)
Exchange Rates Notification No.104/2017-Custom(NT) dated 6.11.2017

Date: 02-11-2017
Notification No. 103/2017 - Customs (N.T.)
Exchange Rates Notification No.103/2017-Custom(NT) dated 2.11.2017

Date: 01-11-2017
Notification No. 102/2017 - Customs (N.T.)
Exchange rates notification No.102 dated 1.11.2017.



Exim Guru Copyright © 1999-2017 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001