India’s gold imports are anticipated to nosedive by more than 90 per cent in March, reaching their lowest point since the COVID-19 pandemic outbreak, according to a government official and two bank dealers cited by Reuters. The drop comes as banks curtailed imports following a surge in prices, which dampened demand for the precious metal, […]
The president of the Federation of Indian Export Organisation (FIEO), Ashwani Kumar, has projected that the nation’s merchandise exports will likely hit USD 450 billion by the end of this financial year, despite facing geopolitical hurdles such as the Red Sea crisis. He emphasised the urgency of tackling challenges arising from the Red Sea crisis […]
India has had a robust 12 per cent annualised growth in merchandise exports, amounting to USD 41.4 billion in February, despite facing global headwinds. This growth has narrowed the contraction in the first 11 months of 2023-24 by 3.6 per cent, reaching USD 395 billion. Services exports for February were estimated at USD 32.15 billion, […]
India’s overall exports, merchandise and services combined, in January are estimated to be USD 69.72 billion, exhibiting a positive growth of 8.49 per cent on a yearly basis, official data released on Thursday showed. The overall exports during January 2023 were worth USD 63.80 billion. Overall imports during the first months of 2023 increased to […]
India’s gold demand is anticipated to be low in the first quarter of 2024 owing to reduced jewellery sales, but yearly demand is expected to climb as customers adjust to higher costs, according to the World Gold Council (WGC) on Wednesday. Higher purchases in the world’s second-largest gold consumer may sustain prices, which are nearing […]
India’s trade performance in December witnessed a nuanced pattern, with the overall exports, encompassing both merchandise and services, declining to USD 66.33 billion compared to USD 69.29 billion in December 2022, as per data released by the Commerce Ministry. However, a closer look at the sector-wise breakdown reveals divergent trends. Merchandise exports in December demonstrated […]
In the face of international scrutiny, India has staunchly defended its substantial purchases of Russian crude oil since the onset of the Ukraine war. A recent report from a parliamentary panel highlighted that all import deals were executed within the scope of Western sanctions imposed on Moscow for its involvement in the conflict, as per […]
As India’s current account deficit (CAD) narrowed to a lower-than-expected USD 8.3 billion in Q2 FY2024, the higher trade deficit is likely to push CAD sharply to USD 18 to 20 billion in Q3 FY2024, the rating agency Icra has said. Although India’s CAD narrowed slightly on a QoQ basis in Q2 FY2024, the sharp […]
India’s overall exports, merchandise and services combined, in November are estimated to be USD 62.58 billion, exhibiting a marginal positive growth of 1.23 per cent yearly, official data released on Friday showed. The overall exports during November 2022 were worth USD 61.82 billion. Major contributors to export growth in November 2023, though marginal, include iron […]
India’s trade data for September 2023, released by the Commerce Ministry, reveals a decline in exports by 2.6 per cent, which amounted to USD 34.5 billion compared to USD 35.4 billion in September 2022. “UK delegation will be in India for FTA negotiation. High-level engagements at various levels are ongoing to iron out differences. The […]
