In a country that is often focused on the ways in which it falls short, the start of a year is a good time to remind oneself of such positives, observes T N Ninan.
India's exports in April jumped nearly three-fold to USD 30.63 billion from USD 10.36 billion in the same month last year, according to government data released on Friday.
After recording positive growth for two months in a row, India's exports dipped marginally by 0.25 per cent to $27.67 billion in February and trade deficit widened to $12.88 billion, according to preliminary data released by the government on Tuesday. Imports grew 6.98 per cent to $40.55 billion during the month, the data showed. The trade deficit stood at $10.16 billion in February 2020. Exports during April-February 2020-21 were $255.92 billion, compared with $291.87 billion during the same period of last year, exhibiting a negative growth of 12.32 per cent.
A businesswoman from Gujarat tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
Rizwan Kaskar, the son of Ibrahim's brother Iqbal Kaskar, was arrested on Wednesday night from the international airport when he was trying to escape the country.
India's exports rose marginally to $27.15 billion in December 2020, while imports surged 7.56 per cent to $42.59 billion, official data showed on Friday. The merchandise exports were valued at $27.11 billion in December 2019 while imports had totalled $39.59 billion.
'90 per cent of the food and grocery business is still with the kiranas.' 'If kiranas are not allowed to operate, it becomes a serious issue.'
After recording positive growth in September, India's exports declined 5.4 per cent to $24.82 billion in October on account of dip in shipments of petroleum products, gems and jewellery, leather, and engineering goods. Trade deficit in October narrowed to $8.78 billion as against $11.76 billion, as imports also fell 11.56 per cent to $33.6 billion during the month under review.
The Centre and states are looking to further tighten the GST registration process and legal measures to deal with the rising cases of fake invoicing. A meeting of the law committee of the GST Council has been convened on Wednesday to discuss these issues, finance ministry sources said. The committee, comprising senior central and state tax officers, would also discuss the GST fake invoice frauds, further tightening of the GST registration process and work out other legal measures including necessary law amendment required in the GST Act to curb the menace of fake invoicing, they added. Also the provisions related to deemed registration under Goods and Services Tax (GST) law may be tightened to prevent the misuse of such provisions by fake dealers and the provisions related to suspension of registration may also be streamlined to make the procedure of suspension and cancellation of registration more efficient and faster, so that such fraud operators can be prevented in time from continuing to pass on fake credit down the chain.
Electronic hardware is going to be the next big thing following the success story of software sector, which now contributes eight per cent to the gross domestic product, besides providing jobs to 2.9 million people.
RJio's LYF, Videocon and other smartphone makers to also get notices
Trade deficit marginally widened to $9.85 billion as against $9.72 billion in February 2019.
Sluggish economy, high bullion prices and consumer shift towards cheaper gifting options such as electronic goods and mobiles have taken the sheen off gold
Categories such as lifestyle, food and electronics accounted for over 1,350 sellers across the country last year.
Imports too declined 26 per cent to $29.47 billion in August, leaving a trade deficit of $6.77 billion.
Sectors with positive growth during the month include rice, iron ore, oil seeds, oil meals, meat, dairy and poultry products, pharmaceuticals, coffee, engineering goods, and plastic.
As a result, vehicular traffic and movement of people on roads saw a consequential increase in most parts of the state including rural regions, the State capital and key cities like Coimbatore, Madurai, and Tiruchirappalli.
If indeed the gate opens for big industrial houses, the RBI needs to be smarter than them and demonstrate it through action, not reaction, observes Tamal Bandyopadhyay.
Mukesh Ambani-led Reliance Retail on Friday said it would set up 55 stores for home appliances and electronic goods across the country over the next two years.
The US tech major is planning to begin local production of its upcoming iPhone 12 by next April - within six months of its launch.
Instead of making the sellers bleed, experts say, e-commerce giants Amazon and Flipkart have roped in banks to offer discounts to buyers.
FMCG and healthcare firms are keen to push online sales.
It was expected that supplies from China will be back to normal by end-June as their factories are now operating at nearly 90 per cent of normal capacity. But the recent issue with shipments has placed an obstacle that manufacturers can't bypass.
India has received $1.35 billion foreign direct investment from the US during April-November 2014 as compared to $806 million in 2013-14
Imports too contracted by 28.72 per cent to $31.16 billion. Dip in exports and imports narrowed the trade deficit -- the difference between imports and exports -- in March to $9.76 billion, the lowest in the last 13 months.
India's e-commerce sector is expected to touch $22bn in 2015.
Export sectors that showed positive growth last month included chemical, iron ore, electronics, marine products and pharmaceuticals. Decline in overall imports, including oil and gold, led to narrowing of trade deficit.
Consumers would soon have to shell out more to buy mobile phones, TV sets, cameras, laptops and other consumer electronic goods.
Let's take a look at some of the biggest selling electronic devices in the world.
Tata Group's Croma, which launched its e-retail store last month, is reworking its backend to secure its early mover advantage
The trade deficit is now at $21 billion.
On Tuesday, members of Congress from both the Democratic and Republican parties wrote to India's ambassador, Nirupama Rao, asking the Indian government to reconsider its PMA policy and its impact on the information and communications technology sector.
In spite of an overall healthy rise in exports, there are many traditional sectors which used to be the mainstay of India's exports in the past, but are now suffering from significant weaknesses, says A K Bhattacharya.
Prime Minister Narendra Modi is addressing the nation for the seventh time from the ramparts of the Red Fort on Independence Day on Saturday and it will be his second speech of the second term in office.
The current slowdown has lasted for over 18 months and is the longest incident of sluggishness since 2006.
Every time the Indian economy has faced headwinds due to international developments, the oil sector has played a crucial role, explains A K Bhattacharya.
'China's investment destination image the world over has taken a beating, therefore investors feel India is a safe haven for investments.' 'FDI is at an all-time high in India.' 'Now after such poor ratings, this FDI amount will fall.' 'Therefore, I am saying these things are happening at China's behest.'
Videocon Industries surged 6.3%, Blue Star rose 6% and Titan Industries rallied 3.5% by close of trade on Friday.
The employees had been trying to gain entry in protest at the lack of any formal notice of closure
Electronic goods manufacturer Samsung Electronics expects to double its revenue from Indian market to Rs 200 crore (Rs 2 billion) in the digital imaging portfolio segment in the current year.
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