According to initial estimates available with the commerce ministry, these sectors, which constitute a third of India's export basket, have posted a dip of 18-54 per cent in December 2008. Exporters claim they do not have orders beyond January 2009, adding that the situation could lead to 10 million job losses if things did not improve.
The size of the GDP in the second quarter of 2018-19 is estimated at Rs 33.98 lakh crore, as against Rs 31.72 lakh crore a year ago
Watal a 1978-batch Andhra Pradesh cadre IAS officer.
In a pre-budget meeting with revenue secretary P V Bhide, a Ficci delegation asked the finance ministry to tread with caution on rolling back the stimulus measures taken to spur growth.
The Board of approval had given more time for Raheja's to develop their project in the state. The project is one amongst the three SEZs recommended to be denotified by the state government. Goa's Rajya Sabha member Shantaram Naik said he would meet new Union Commerce ministry Anand Sharma and brief him on the issue.
The Mumbai SEZ had sought the stay on the grounds that if the acquisition is not completed by June 8, the entire process will lapse under the Land Acquisition Act, 1894.
Developers will now be able to get their land classified as an SEZ at the initial stage of approval by submitting legal documents that prove land ownership. With exports falling sharply in the last six months, faster development of SEZs is seen as one way of increasing overseas sales of Indian goods and services, an official said.
Exports from special economic zones (SEZs) are likely to touch Rs 2 lakh crore in 2009-10, a 100 per cent jump from the year-ago period, with Reliance Industries' Jamnagar special economic zone expected to contribute the most to the kitty.
Mr Prabhu has a big challenge ahead in implementing trade reforms to regain the lost export momentum, says Jayanta Roy.
Rajiv Kumar will continue as vice-chairman of the body, along with other full-time members V K Saraswat, Ramesh Chand and V K Paul.
By May this year, awards in highways projects will swell to Rs 2 lakh crore from Rs 1.6 lakh crore now
India improved its rank on six out of the 10 parameters relating to starting and doing business in a country.
Centre could experiment in setting up education parks in the country like in IT sector and workout to provide special incentives to those setting up the parks, National Knowledge Commission chairman Sam G Pitroda said. He said government could experiment in establishing education parks so that it can work out strategies to enhance quality of education.
In a major reform push, government on Thursday approved 100 per cent foreign direct investment (FDI) in the telecom sector, meeting a key demand of the fund-starved industry.
Developing more sources of supplies to guard against disruptions may emerge as the next big trend. But that may not necessarily mean flow of more investments into India, unless investors are assured, besides important economic factors and impartiality of institutions, that social disharmony will not cause unexpected disruptions.
The Centre, in a stimulus package on December 7, provided an interest subvention of two per cent up to March 2009 for pre and post-shipment export credit for labour-intensive exports (textiles, leather, marine products) and SME sector.
The Directorate General of Foreign trade on Friday issued an order banning toy imports from China, which is India's biggest trade partner, for six months. The notification, however, gave no reason for the ban.
Prime Minister Manmohan Singh on Tuesday held discussions with Commerce and Industry Minister Kamal Nath and is believed to have reviewed the Satyam issue, a day after the minister came out in support of extending financial help to the beleaguered IT firm.
The approvals would be handled independently by administrative ministries of different sectors.
In dollar terms, exports declined by 33.3 per cent over March 2008, the largest monthly decline yet. For the year as a whole, exports came in at $168.7 billion, significantly short of the original target of $200 billion and also below the revised range of $170-175 billion.
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 finance ministry on Wednesday ruled out more than 26 per cent foreign direct investment in pension sector and said fund managers would be selected through a competitive bidding process.
The country's largest real estate player, DLF, on Friday said it has approached the government for surrendering four of its IT-ITeS notified special economic zones (SEZ).
From a balance of payments perspective, however, the continuing decline in exports is not particularly threatening, because imports have been declining even faster than exports.
Goyal was to visit Beijing from August 2 to 3 to take part in the RCEP Intersessional Ministerial meet.
The apex court also restrained e-commerce websites like Flipkart and Amazon from selling firecrackers which are beyond the permissible limit.
India's exports are showing signs of improvement as the contraction in outbound shipments in June so far has come down to about 10-12 per cent as compared with 60 per cent in April, Commerce and Industry Minister Piyush Goyal said on Monday. Declining for the third straight month, In "Currently we are about 10-12 per cent down in June. So in a sense, we have reached up to 88-90 per cent of the level of exports that we had in June 2019 in the current month in the first two weeks. I am awaiting the data for third week (of June)," Goyal said at a CII function.
Thailand, Indonesia want unconditional access to India's multi-brand retail space.
AIFF plans to go ahead with the 2020-21 I-League season even if the clubs' star foreign recruits are unable to make it due to the coronavirus-forced travel restrictions.
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Exports picked up to post a growth of nearly 13 per cent.
DIPP seeks automatic approval, has Plan panel and DEA's support.
Non-performers were not punished, performers were not rewarded, points out Utkarsh Mishra.
Developers had been urging dual usage of their SEZ land since the beginning of global financial recession in 2008.
India's software exports suffered a severe setback in March declining by 96.6 per cent to $1 million from the year-ago period due to recession in world's major economies like the US and the Europe.
'If the mandis were not working in Delhi, or the onion market in Nashik got affected, or there were disruptions because of unloading or loading in any sector in south India, we intervened.'
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