Increase in exports, improvement in CAD, mnfg to help boost Indian economy: Goyal

India’s merchandise exports show growth despite a widened trade deficit, reflecting a positive economic outlook. The Commerce Minister’s participation in the gem and jewellery industry program signifies confidence in the country’s economic trajectory.

India has launched an anti-dumping investigation into the import of glass fibre from China, Thailand, and Bahrain in response to a complaint by a local manufacturer. The probe, led by the Directorate General of Trade Remedies (DGTR) under the commerce ministry, aims to safeguard domestic industries from inexpensive imports. Owens-Corning (India) has filed for this […]

India’s thriving investment appeal is evident with high foreign remittances and FII inflows, while regulatory reforms and sector openings attract global interest. Elon Musk’s potential investments in the space and EV sectors signal promising developments for India’s economic growth and international partnerships.

India recorded a current account surplus of USD 5.7 billion or 0.6 per cent of GDP in the March quarter. This is the first time in ten quarters that the crucial metric of the country’s external strength has turned into surplus mode. In the year-ago period, the current account deficit stood at USD 1.3 billion […]

Amidst global challenges, India’s export sector is anticipated to thrive under Minister Goyal’s projections. Efforts to establish specific targets, navigate FTA negotiations, and preserve diamond export interests are crucial in sustaining India’s export growth trajectory.

India’s steel and trade ministries are discussing the increasing imports of steel, especially the influx of cheap Chinese goods, according to a government source. The talks come amid ongoing requests from top producers for higher tariffs. India became a net steel importer in the fiscal year ending in March, with finished steel imports reaching a […]

Exporters have raised concerns over the short two-month extension of the Interest Equalisation Scheme (IES), exclusively for MSMEs, impacting labor-intensive exports. FIEO president Ashwani Kumar emphasised the scheme’s broad benefits for various exporters and urged the Commerce Minister to restore the full scheme to support struggling sectors facing challenges like increased freight rates and rising […]

The scheme helps exporters from identified sectors and all MSME manufacturer exporters to avail of rupee export credit at competitive rates at a time when the global economy is facing headwinds. Exporters get subsidies under the Interest Equalisation Scheme for pre and post-shipment rupee export credit.

The annual growth rate of India’s coal imports declined to 2.49% in the past decade, down from 21.48% in the previous decade, reflecting progress towards energy self-reliance. The share of imported coal also decreased, with a compound annual growth rate of -2.29%. India aims to optimize its indigenous coal resources and leverage technology.

India is becoming a favored investment destination for German companies, with 59% planning to increase investments this year. Expectations are high, with 78% anticipating rising sales and 55% forecasting higher profits. Factors driving this trend include low labor costs, political stability, and availability of qualified specialists.