During the April-October period of the current financial year, exports dipped by 0.17% to $154.91 billion
Second such instance in 22 months; import slide continues
Economic indicators from some advanced economies continue to be troubling
The textiles sector was most affected witnessing a massive drop in contractual employment as outward shipments shrank, says the joint study by Assocham and Thought Arbitrage
Imports dropped 14% to $29 billion; August trade deficit at $7.7 billion
While exports have remained at $ 25 billion since start of FTA with ASEAN, imports have rose by over 33% to $ 40 billion. This raises question mark on FTA.
The commerce ministry has relaxed certain norms to promote outbound shipments and manufactured products from export-oriented units (EoUs), software technology parks of India (STPIs) and electronic hardware technology parks (EHTPs).The norm of mandatory warehousing requirement for EoUs and software and electronic hardware technology parks has been done away with.The Directorate General of Foreign Trade (DGFT) has also eased rules for the existing EHTP and STP units to avail tax exemptions in the case of conversion or merger of EoU and vice versa.In a notification, the department said an EoU, which is into agriculture, aquaculture, horticulture and poultry, might be permitted to remove specified goods in connection with its activities for use "outside the premises of the unit".Earlier, it was allowed only for outside the bonded area. DGFT has said this in a notification, amending the foreign trade policy (2015-20).The EoU scheme, which was introduced in December 1980, had allowed manufac
The services sector contributes about 55 per cent to the country's gross domestic product
Cereals, oil meals and dairy & poultry products too recorded negative growth during the month
The pace of contraction in May was the lowest since November 2014, fuelling optimism that the decline in exports has petered out
Sitharaman said many labour intensive sectors have been holding out and are now picking up
Lowest rate of fall since November 2014 buoys hope of turnaround soon
Down 6.7%; contraction in non-oil, non-gold import also expands