India’s current account deficit (CAD) rose sharply to $9.2 billion in the first quarter (April-June) of this year from $1.3 billion in the preceding, January-March, quarter. However, on a year-on-year basis, there was some good news, as it represented a fall from the $17.9 billion seen in the same quarter last year, according to data […]
India Ratings, a unit of Fitch Group, has predicted that India’s GDP growth will not return to the 6% or 7% rate in the next financial year due to structural problems, but will show a slight improvement over the current year. The current year, which will end on March 31, is likely to see a […]
India had good news on the foreign trade front as exports continued to grow fast, overtaking the growth in imports. However, there was no relief from continued trade deficit as the absolute import figure was substantially higher than exports. Exports during November 2017 rose 30.55% in dollar terms when compared with the same month last […]
India’s comerce and industry minister Suresh Prabhu and his deputy will announce a ‘revised’ foreign trade policy for the country at 4 PM today, the government said. The current Foreign Trade Policy, which sets long-term targets for exports growth, trade gap and so on, was announced in 2015 and aimed to take India’s exports from […]
Net bank deposits by non-resident Indians have fallen by nearly 90% so far this financial year as more and more foreign workers dipped into their bank accounts in the face of a crisis in the Gulf region, industry association ASSOCHAM said. Net bank deposits — the difference between total deposits and not withdrawals — came […]
India’s merchandise imports continued to grow at a blazing pace, widening the gap between the foreign exchange that the country earns from its exports and the money that it has to shell out for its imports. Imports for May rose by 33% compared to a year ago, resulting in a doubling of India’s trade gap […]
The amount realised through the 5th Tranche of Sovereign Gold Bond (SGB) Scheme, is expected to cross Rs. 820 crore, the ministry of finance said. This was mobilised through over 2.00 lakh applications representing around 2.37 tonnes of gold. “These numbers are likely to go-up further as the receiving offices are still in the process […]
The trade deficit widened in June, partly due to a rise in non-oil-non-gold (NONG) imports, a key indicator of domestic demand. “Details within the import bill throws up two interesting developments – higher food imports to augment domestic supplies ahead of potentially weak monsoon rains and firmer urban consumption demand for electronics and transport equipment,” […]
All India Gems and Jewellery Federation (GJF), the largest single trade body in India for the promotion and growth of trade in gems and jewellery across India, has urged the Union Finance Minister Arun Jaitley to avoid re-imposing curbs on gold imports as it could spell doom for the gems and jewellery sector. The GJF […]
Crisil Research has cut its forecast for current account deficit this financial year to $32 bln, or 1.55 of GDP, from $47 bln, or 2.2% of GDP, due to the sudden fall in oil prices. A country’s dealings with the rest of the world is divided into the current account and the capital account. Current […]
