Gold imports, which have a bearing on the current account deficit (CAD), plunged 57 per cent to USD 6.8 billion (around Rs 50,658 crore) during the first half of this fiscal amid a slump in demand due to the Covid-19 pandemic, showed data by the commerce ministry.
After contracting for six straight months, India's exports rose 5.99 per cent to $27.58 billion in September on account of growth in shipments of drugs and pharmaceuticals and readymade garments, as per the government data released on Thursday. Exports stood at $26.02 billion in September 2019. The country's imports contracted 19.6 per cent to $30.31 billion in September.
Overall gross import of rough diamonds between April to November 2019 has shown a decline of 17.24 per cent to $8.55 billion from $10.34 billion registered during April to November 2018. This is one of sharpest fall in import of diamond in India in last one decade.
If he wasn't an actor, Aamir Khan could have made an excellent life coach.
The country's exports in December surged 37 per cent on an annual basis to $37.29 billion, the highest-ever monthly figure, government data showed on Monday.
India processes around 90% of the world's supply of rough diamonds.
The PNB fiasco falls into a family line that involves non-fund limits - read contingent liabilities which are off-books. Harshad Mehta did it with bankers' receipts in 1992. Ketan Parekh exploited the ignorance of bankers who did not know the difference between a cheque and a pay-order. And the RBI blinked when it failed to insist the SWIFT platform be linked to the core banking solution. Raghu Mohan & Abhijit Lele trace the banking mess that was just waiting to happen.
Imports too declined by 12.71 per cent to $38.11 billion in November, narrowing the trade deficit to $12.12 billion. Cumulatively, during April-November 2019, exports were down 1.99 per cent to $211.93 billion while imports contracted by 8.91 per cent to $318.78 billion.
Many cricketers hailed R Ashwin on social media.
Nearly 28 per cent of urban Indians are planning to spend on gold in the next three months, signalling a renewed appetite for the yellow metal amid the waning effects of second wave of COVID-19, as per a survey. The gems and jewellery industry, which was impacted by the COVID-induced disruptions in 2020, had shown signs of recovery in January-March this year. However, the second wave of the pandemic put a halt to it. Businesses are beginning to look up as state governments are slowly easing restrictions on movements, and organised retailers are hoping consumer demand to show positive sentiment during the festive season this year.
Ashwin is relishing one of his "happiest IPL seasons" even though he finished the league phase with 11 wickets and 183 runs IMAGE:
There are so many patriotic songs that make us proud to be Indians.
Every time the Indian economy has faced headwinds due to international developments, the oil sector has played a crucial role, explains A K Bhattacharya.
India is the world's largest diamond cutting centre.
'Every single Indian dish is a jewel.'
Govt restrictions on import biting deep; trade petitions for relief with units, workers idling.
Gitanjali Gems and Firestar Diamonds together account for 5.8 per cent of the diamond and jewellery trade in India.
'...as much as in India, it's only because she sang for mankind, not the details on the passport.'
All these companies were provided loans by PNB as part of consortium lending.
After contracting for six months in a row, the country's exports grew by 5.27 per cent to $27.4 billion in September, Commerce and Industry Minister Piyush Goyal said on Thursday.
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GEM fund managers more overweight on India than ever before says Bofa-ML report.
On the grounds of freedom of expression alone, astrology cannot be banned; it also provides a legal livelihood to lots of people.
Govt clamps have resulted in 93% decline in April-November
Since most banks have tightened lending to diamond merchants and others are about to do so, many medium and small diamond dealers are approaching large players for credit facility within the industry
The source said the thieves '100 per cent' planned the heist to coincide with the ball drop.
Tributes poured in for violin maestro T N Krishnan, who died in Chennai at the age of 92, with Prime Minister Narendra Modi, Home Minister Amit Shah and the world of Carnatic music mourning the doyen's demise and recalling his rich contributions.
MSMEs contribute immensely to the industrial landscape of the country in terms of their 45 per cent share of manufacturing output and 40 per cent of exports.
Prime Minister Narendra Modi had asked exporters to prepare a strategy for the next five years and start working in that direction.
Readers share their most memorable photographs!
The early results from corporate India for the first quarter of 2015-16 are in, and these strongly suggest that a cyclical recovery is underway.
India's exports increased 3.79 per cent to $26.75 billion in January, helping the trade deficit to narrow to $9.92 billion.
India's merchandise exports in October surged 42.33 per cent to $35.47 billion on the back of good performance by the engineering and petroleum sectors, as per provisional data released by the government on Monday. The exports stood at $24.92 billion in October 2020 and $26.23 billion in October 2019. "India's merchandise exports in October 2021 was $35.47 billion, an increase of 42.33 per cent over $24.92 billion in October 2020 and an increase of 35.21 per cent over $26.23 billion in October 2019," as per an official statement.
The country's exports rose by 48.34 per cent to $32.5 billion on account of healthy growth in shipments of petroleum products, gems and jewellery, and chemicals, leather and marine goods, according to the data released by the Commerce Ministry on Thursday. Imports in June too rose by 98.31 per cent to $41.87 billion, leaving a trade deficit of $9.37 billion as against a trade surplus of $0.79 billion in the same month last year. During April-June 2021, the exports increased by 85.88 per cent to $95.39 billion.
Prime Minister Narendra Modi on Sunday called for the setting up of a high-power police technology mission under the leadership of the Union home minister to adopt future technologies for grassroot policing requirements.
Indian gold demand seen falling to 8-year low in festive quarter.
Gold bullion purchases across Asia slowed this week as a long rally in prices discouraged buyers.
Homegrown auto major Mahindra & Mahindra on Tuesday said it plans to launch 16 electric vehicles (EVs) by 2027 across SUV and light commercial vehicle categories to strengthen its leadership position in India's electric mobility segment. The company, which has set a cumulative revenue growth target of 15-20 per cent by 2025, is keeping its options open to either bring in private equity investors or carve out its EV business into a separate entity to drive its growth. M&M, which has already announced plans to invest Rs 3,000 crore in EVs, is also considering a new brand name for the electric SUVs that it will launch by 2027.
An initiative to fund the education of bright Indian youngsters undertaken by two Indian-Americans has now acquired a momentum of its own, discovers Anjuli Bhargava.
India and five Central Asian countries on Thursday decided to establish a joint working group on Afghanistan at the senior officials' level, ministry of external affairs secretary (West) Reenat Sandhu said.
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