Imports during the period grew by 6.8 per cent to $27.68 billion, leaving a trade deficit of $9.72 billion, according to a Commerce Ministry data released in New Delhi on Wednesday.
Imports were up by 19.8 per cent year-on-year to $37.7 billion in the month.
The regulatory framework for manufacturing equipment needs to change, says Sanjeev Nayyar.
Pakistan's current account deficit (CAD) increased to a 4-year high of $17.4 billion in the fiscal year of 2021-22, indicating more troubles for the ailing economy of the cash-strapped country. The State Bank of Pakistan (SBP) on Wednesday reported that the country recorded a CAD of $17.406 billion in FY22 compared to a gap of just $2.82 billion in FY21. According to Dawn newspaper, the massive CAD speaks a lot about the severe problem of the balance of payments.
Trade deficit during the month narrowed to USD 14.54 billion from USD 15.3 billion in January 2020. It was USD 15.44 billion in December 2020.
The growth rate has been the lowest since October, 2009, when it contracted by 6.6 per cent.
The RBI raked in a massive net income gain from foreign exchange currency sales as a buffer for the rupee during tumultuous geopolitical upheavals last year owing to Russia's invasion of Ukraine.
India and China on Tuesday discussed the recent spate of incursions and ways to maintain peace and tranquility along the Line of Actual Control in the border areas.
In August 2014, imports stood at $ 2.06 billion. Higher imports will have adverse bearing on India's current account deficit (CAD).
Driven by a surge in remittances by expatriates and software exports, India's balance of payments saw a surplus of $1.90 billion on current account for the first quarter ending June 2004 as against a deficit of $637 million
India has a huge trade surplus with US - over $20 billion a year in the past five years.
India's rupee is likely to remain under pressure due to high prices of crude oil and other commodities, and may stabilise at around 79-80 against the US dollar in the near term, say experts amid limited headroom available with the Reserve Bank to check the weakening of the domestic currency. The currency has slumped over 5 per cent this year after Russia's invasion of Ukraine sent international crude oil prices soaring to a decade high. On Monday, rupee ended at a fresh all-time low of 78.34 (provisional) against the US dollar.
While the fiscal year has just begun, any windfall surplus will be welcomed by the government as it bids to meet the fiscal deficit target of 5.9 per cent of GDP, amidst lack of clarity on exactly to what extent will recession in the West impact India's trade and tax collections.
'Trump's anti-trade, anti-immigrant rhetoric reminds me of Chinese history,' says A V Rajawade.
India's exports remained in the negative territory for the 11th month in a row.
It will strengthen, because global economic conditions require the eurozone to run trade deficits.
Analysts believe that investors should look at stocks that hit 52-week lows only if they have a dividend paying track record, are debt-free and have sound fundamentals.
The rally in silver may continue if the global economic recovery remains on course.
Crude oil shipments from the US to India rose to the highest levels in November since the conflict began in Ukraine in late February, sparking hopes of a resurgence in oil flows from the US to the subcontinent, reveals shipping data. Shipments from the US have surged as Western nations prepare to impose additional sanctions on Russian crude flows. The US shipped around 450,000 barrels per day of crude last month to India, twice that of shipments in October, according to data from London-based commodity intelligence provider Vortexa.
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
Rajan says, this is a time where countries should be focusing on getting the macro stability in order
The recently released RBI First Quarter Review of Monetary Policy 2009-10 and the accompanying 'Macroeconomic and Monetary Developments First quarter review 2009-10 have indicated that on the basis of Balance of Payments (BoP) the export growth for 08-09 has declined by over 22% to 5.4% and also the import growth has declined by over 21% during the same period.
Exports dropped to $12.81 billion in June from $17.73 billion in the same month last year, according to the government data released on Monday. Imports too dipped for the sixth straight month by 29.3 per cent to $18.97 billion in June over the year-ago month.
India's exports declined by 29.2 per cent in May -- contracting for the eighth month in a row -- over the same month last year as overseas shipments hit by the slowdown in major global markets like the US and Europe.
Among the Sensex firms, Axis Bank, Power Grid, Maruti, State Bank of India, Tata Motors, ITC, Nestle and Mahindra & Mahindra were the major gainers. Bajaj Finance and Larsen & Toubro were the laggards.
The Indian startup ecosystem has lauded the inclusion of startups in the New Delhi Leaders' Declaration for the first time ever in the history of G20. Industry stakeholders say that the move will lead to easier access to capital, reduce regulatory hurdles, and may revive funding activity. The Declaration, through the Startup20 initiative, recognised startups as "natural engines of growth" and key to socio-economic transformation by driving innovation and creating employment.
'To simply let the rupee depreciate to any level according to market forces will not be in the country's interests.'
Exports dropped to $11.51 billion in March last fiscal, from $17.25 billion in the same month of the previous financial year, while imports dipped 34 per cent to $15.56 billion, leaving a monthly trade deficit of $4.05 billion, according to official figures released on Friday. Exports contracted 12.1 per cent to $12.8 billion in October 2008, showing a negative trend for the first time in five years.
Gold rises on firm demand, global buoyancy
Indian government has hiked the import duty on refined gold three times since January 1 and it now is at a record 10 per cent.
India's exports declined by 21.7 per cent in February over the year-ago period, posting contraction for the fifth month running, under the impact of demand slowdown in major global markets.
The US president alleged that China had been indulging in tremendous intellectual property theft worth hundreds of billions of dollars on a yearly basis.
In the midst of third wave of COVID-19, Finance Minister Nirmala Sitharaman has come up with an impactful Budget which is balanced, fiscally prudent and growth-oriented, the USA India Chamber of Commerce has said. President of the Boston-based USA India Chamber of Commerce (USAIC) Karun Rishi, however, said it is a matter of concern that the budget lacks tangible measures to increase revenue generation. "Opting to keep the fiscal deficit at 6.9 per cent and increase capital expenditure by 35 per cent is a masterstroke. "The annual budget estimates the effective capital expenditure of Rs 10.68 lakh crore in 2022-23, making up about 4.1 per cent of the GDP," he said. "A phenomenal increase in the government's capital expenditure is likely to facilitate the expenditures on infrastructure and create jobs.
India's exports declined by 15.9 per cent in January over the year-ago period, posting contraction for the fourth month running under the impact of a slowdown in major global markets.
India's exports grew by a healthy 30.4 per cent in June to $17.75 billion, Commerce Secretary Rahul Khullar said here on Monday.
India's exports declined by 1.1 per cent in December 2008, posting negative growth for the third month running under the impact of a slowdown in major global markets.
Fitch on Tuesday affirmed India's sovereign rating at 'BBB-' with a stable outlook, on robust growth and resilient external finances, but said weak public finances remain a challenge. India's rating has been unchanged at 'BBB-', which is the lowest investment grade, since August 2006. "Fitch Ratings has affirmed India's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook," it said in a statement, adding strong growth potential is a key supporting factor for the sovereign rating.
Providing relief to the economy from widening trade deficit on account of gold imports, the inward shipments of the metal slumped in December to 39 tonnes, Commerce Secretary Rajeev Kher said on Wednesday.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances