Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Ahead of Diwali, good news for Indian economy.


Date: 18-10-2017
Subject: Ahead of Diwali, good news for Indian economy
New Delhi: A series of economic data has delivered a dose of good news since the middle of last week, making it one of the best times for the Indian economy in several months.

Data ranging from cooling of inflation to a rebound in exports and factory output suggest a favourable shift in the economic climate, recovering from the disruption caused by rollout of goods and services tax (GST) and the aftershocks of the Narendra Modi government’s demonetisation move. The trend gives optimism to experts for an uptick in economic growth rate in the coming quarters.

Retail inflation based on Consumer Price Index (CPI), which was inching up for three months since June, paused in September, while inflation based on Wholesale Price Index (WPI), which was following a similar trend in the period, decelerated in September. The decline in inflation was led by a correction in prices of food.

Industrial production rebounded to a nine-month high in August to 4.3% as manufacturers stepped up production ahead of the festive season. What is good news for the policy makers is that August data suggested a recovery in capital goods production, taken as a proxy for investments in the economy, from a sustained contraction since the beginning of the financial year. It expanded 5.4% in August.

Merchandise exports grew at 25.7% in September, its fastest pace in six months, to $28.6 billion, which helped trade deficit to narrow to a seventh-month low of $8.9 billion.

The data support the optimism of policymakers and experts that the impact of recent structural reforms have begun to wane and economic growth, which had slowed down to 5.7% in the June quarter from 6.1% in the preceding three months, is getting back to normal.

Rajiv Kumar, vice-chairman of federal policy think tank NITI Aayog, said the economic slowdown that began in 2013-14 has bottomed out and that gross domestic product (GDP) is likely to grow 6.9-7% in the current financial year and by 7.5% in 2018-19, PTI reported on Sunday.

Kumar had earlier told Mint that he endorsed the Asian Development Bank’s 2017 GDP growth forecast of 7% for India. The multilateral agency, which follows a calendar year, last month revised its 2017 growth forecast for India to 7% from its July estimate of 7.4% while stating that “short-term disruptions” will “dissipate”.

Experts said that while these sets of macroeconomic data indicated some improvement, one needed to watch whether this will sustain over the next few months.

“For instance, the year-on-year pace of growth of electricity generation, Coal India Ltd’s production and automobile production, have declined in September relative to August, which may dampen the rise in Index of Industrial Production in September to some extent. Exports, on the other hand, may witness improvement in volume growth in October, following the decisions of the GST Council,” said Aditi Nayar, principal economist, Icra Ltd.

The challenge before the government is to stimulate investments into the Indian economy and to add new jobs. The high level of indebtedness of businesses and bad assets weighing on banks’ ability to lend also need to be resolved.

Source: livemint.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: 30-05-2025
Notification No. 31/2025-Customs
Seeks to i. extend the specified condition of exemption to imports of Yellow Peas (HS 0713 10 10) to bill of lading issued on or before 31.03.2026; ii. to reduce the basic custom duty on crude soya bean oil (HS Code 15071000), crude sunflower oil (HS Code 15121110), and crude palm oil (HS Code 15111000) from 20% to 10%

Date: 30-05-2025
Notification No. 38/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 26-05-2025
NOTIFICATION No. 37/2025-Customs (N.T.)
Notification of ICD Jalna, Maharashtra u/s. 7(1)(aa) of Customs Act, 1962" and it was issued under Section 7(1)(aa) of Customs Act, 1962

Date: 23-05-2025
Notification No. 30/2025-Customs
Seeks to amend notification No. 55/2022-Customs dated 31.10.2022 to remove the condition required for availing exemption on Bangalore Rose Onion.

Date: 23-05-2025
NOTIFICATION No. 36/2025 - Customs (N.T.)
Amendment in the Notification No. 63-1994-Customs (N.T) dated 21.11.1994 in respect of Land Customs Station, Raxaul

Date: 15-05-2025
Notification No. 34/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 09-05-2025
Notification No. 29/2025-Customs
Seeks to exempt works of art and antiques from Basic Customs Duty

Date: 30-04-2025
Notification No. 02/2025-Customs (CVD)
Seeks to amend Notification No. 05/2024-Customs (CVD) dated the 11th September, 2024 so as to align with changes made vide Finance Act, 2025

Date: 30-04-2025
Notification No. 26/2025-Customs
Seeks to rescind Notification No. 04/2025-Customs dated the 1st February, 2025

Date: 30-04-2025
Notification No. 27/2025-Customs
Seeks to amend Second Schedule to the Customs Tariff Act, to align it with changes made in the First Schedule to the Customs Tariff Act vide Finance Act, 2025.



Exim Guru Copyright © 1999-2025 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 InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001