India's exports declined by 2.83 per cent to $33.90 billion in November this year compared to $34.89 billion a year ago, government data released on Friday showed. Imports also declined to $54.48 billion in the month under consideration, as against $56.95 billion recorded in November 2022.
Assets under management of India-dedicated funds have slid 20 per cent in the year to November to $35.2 billion.
The government has also set targets for the next 25 years. We are working on the target of becoming a $5-10 trillion economy as well as taking exports to a record high, he said.
The government is planning to tweak its procurement policy to give a fillip to domestic manufacturing. The industry department has floated a proposal to raise the minimum local content requirement for public procurement for Class-I and -II suppliers from 50 per cent currently to 70 per cent, and 20 per cent as of now to 50 per cent, respectively.
A self-taught Indian scientist, who has produced the world's largest black pearl is looking to commercialise his pearl culture technique that has the potential to change the profile of the country's gem and jewellery exports in a single stroke.
India, the world's largest diamond cutting and polishing centre, exported gems and jewellery worth $9.1 billion in the past year ended March 31, up 21 per cent from the previous year, a leading trade body said on Thursday.
The Bhagavad Gita reminds us that true peace comes not from the absence of problems, but from the ability to face them with a prepared mind and a steady resolve, says Vatsal Ramaiya, and shows how the Gita helps you to achieve financial peace.
Regaining the lost sheen, sales of gold jewellery and coins are set to touch pre-COVID levels in volume terms on the auspicious Dhanteras as easing pandemic concerns and pent up demand saw consumers flocking to stores to buy the precious metal. Increased footfall at stores and brisk sales online as well as relatively softer gold prices compared to record Rs 57,000 per 10 grams level in August spurred increased buying, especially light weight offerings, on Tuesday. Dhanteras is considered to be auspicious for buying precious metals and other valuable items.
In September last year, the exports stood at $3.5 billion, according to the Gems and Jewellery Export Promotion Council.
With Indian jewellery market already on the robust recovery path, the jewellers are expecting strong Diwali sales in the Dhanteras as the festive mood remains high with low Covid third wave possibility and softer gold price this season. The industry expects the trends in 2021 will be able to reach pre-covid level sales of 2019 on the back of gold price hovering at Rs 46,000-47,000 per 22 carat 10 grams gold nearly 5 per cent lower than 2020, and jump in number of weddings, a senior official of an industry body said. "Since Navratri market is showing demand. It will continue on Dhanteras also.
A list of 10 rising outsiders from whom wonders can be expected in the years to come.
'In the audience's mind there is no urgency to go see a film in the theatre.' 'If you pay for social media buzz it does not convert into bums on seats.'
A trip to any of these enchanting waterfalls guarantees a memorable vacation.
The decline in exports is mainly on account of poor demand in India's key destinations -- the Europe and the US -- and it may take some more months for the situation to improve. The demand scenario is "not looking very good as far as Europe is concerned, and the US also we have seen a decline in demand. "For the next 2-3 months, I think the demand scenario does not look very optimistic," DGFT (Director General of Foreign Trade) Santosh Kumar Sarangi told reporters.
Rajasthan Royals take on Punjab Kings aiming to seal their IPL play-offs berth, in their penultimate league match.
Will India extend their run to make it 8-0? Or will Pakistan be able to snap the streak?
Rehana Sultan was all set to be a path-breaker. The time was right. Hindi cinema had emerged from the 1960s musicals era. But somehow, leading film-makers of the time did not believe Rehana had that cachet. It was Zeenat Aman who ended up being the definitive taboo-trasher of the era. Dinesh Raheja salutes the trendsetter of the 1970s, Rehana Sultan.
A yellow glow is likely to stand out amid grey geopolitical clouds in 2023, with gold price projected to touch Rs 60,000 per 10 grams in the Indian market as more investors veer towards safe-haven assets. In a year where volatility was more a norm than an exception, gold prices in the international market oscillated from a peak of $2,070 per ounce in March to a low of $1,616 per ounce in November and is steadily recovering since then, according to market experts. At the beginning of 2022, gold prices were around $1,800 an ounce.
In India, the gold prices might come down to Rs 18,500-19,000 per 10 grams level from the current Rs 20,500 per 10 grams level.
An international airport mulled by state govt in Surat will help to help boost business as well as tourism
Salim-Javed became the first Hindi film writers who could be considered brands, and they are still boldface names, celebrities in their own right, chronicles Dinesh Raheja.
The country's exports for the first time crossed the $400 billion mark in a fiscal on healthy performance by sectors such as petroleum products, engineering, gems and jewellery, and chemicals, according to the commerce ministry's data released on Wednesday. The merchandise exports rose by by 37 per cent to $400.8 billion in 2021-22 until March 21 against $292 billion in 2020-21. Previously, the outbound shipments had touched a record of $330.07 billion in 2018-19.
At a time when the Indian exporting community is feeling the heat of rupee appreciation, gems and jewellery export that recorded a poor growth of 2.7 per cent in 2006-07 is witnessing a turnaround, said a Reserve Bank of India (RBI) analysis on the country's foreign trade.
Indian pharmaceutical firms foresee minimal disruptions in trade with Israel despite escalating regional tensions. Rising crude prices and export shipping insurance premiums have raised concerns, but the pharmaceutical sector remains optimistic. Pharmaceutical exports from India to Israel in FY 2020-21 amounted to $32.5 million, which represents only a minor segment of India's overall pharma exports.
The country's imports from Russia almost doubled to $25.69 billion during the April-August period this fiscal due to increasing inbound shipments of crude oil and fertiliser, according to the commerce ministry data. With this, Russia has become India's second-largest import source during the first five months of this fiscal. The imports were $13.77 billion during April-August 2022.
A new era of Indian equity market outperformance compared to China "appears to be dawning", according to Morgan Stanley. The firm has upgraded India to overweight in its Asia Pacific-excluding Japan (APxJ) list, making it their most preferred market not only in the region but also in the global emerging market (GEM) pack. India now holds the top position in this category, with an overweight of 75 basis points, a significant increase from nil previously.
Despite various challenges, the past year was a good one, says Bruce Cleaver, chief executive officer of the De Beers Group, the global corporation that has been the leading one in all aspects of the diamond trade for over a century.
Gold premiums in India, the world's biggest buyer of the metal, jumped sharply this week as the festive season began, driving up demand, and supply remained tight.
After the first quarter was washed out, exporters are now keeping their fingers crossed over a turnaround in outbound shipments to at least North America from September onwards. This comes even as other key destinations such as Europe may take longer to revive in FY24. Slowdown in key economies, as well as geopolitical tensions resulted in sluggish demand for Indian goods.
The best part of Yashasvi Jaiswal's entertaining unbeaten 76 was the manner in which he completely unsettled England's troika of spinners, India's left-arm slow bowler Axar Patel reckoned after opening day's play in the first Test.
The list of guests included celebrities from across the globe, politicians, the who's who of Hindi and south Indian cinema world and almost all the top cricketers of the country.
The US is the largest consumer of gems and jewellery in the world contributing nearly 40 per cent of global production. If India can tap the opportunity, its overall exports to the US could jump by 10 per cent to $ 11 billion this year.
The group has called for a retaliatory tariff action against India, if New Delhi does not roll back the 'unilateral and discriminatory' equalisation levy or Google Tax.
Wants to help govt fight the widening current account deficit.
The retailers are also mulling putting a stop to selling of gold coins and gold bars to curtail investments made in gold, according to an official of trade body All India Gems and Jewellery Trade Federation.
Indian diamantaires are looking to go slow on rough diamond purchase during the remaining quarters of the current financial year, thanks to weak global sentiment.
Some jewellers kept their shops shut in Mumbai as well.
After a decade-long stint in politics, Navjot Singh Sidhu will be back as commentator for IPL 2024.
The country's exports edged up 1 per cent to $38.45 billion in December 2023 while the trade deficit narrowed to a three-month low of $19.8 billion, official data released on Monday showed. Imports declined by 4.85 per cent to $58.25 billion in December last year due to a dip in crude oil shipments. The previous low in trade deficit - the difference between imports and exports - was recorded in September at $19.37 billion.
