According to fresh business news, it is said that the export rate in the month of August had dipped by 9.74% year-on-year to $22.3 billion and the basic reason in the fall is the global economic slowdown.
As per the figures released, it is said that from April-August, the shipment fell 5.96% to $119.97 billion as compared to $127.5 billion in the same period of 2011.
Further, imports in the same month also fell 5.08% to $37.9 billion, leaving a trade deficit of $15.7 billion. Read more
There would be no new registration for cotton export until it receive forthcoming orders during current marketing year, a statement reviewed by GOM, following a strong criticism over the domestic supply-demand situation.
From last month, govt. decided to ban on cotton exports. But a huge protest had been made by traders as this would hamper the domestic supply of country.
Over the whole conspiracy, Gujarat chief minister Narendra Modi has come forward and forcing Center to disapproval permission of fresh registration. Read more
Indian importer are more conscious about their business and govt. also tried to go Indian imports more fasters than exports in February because of weaken demand in major exports markets like the United States and Europe.
This trade deficit has pushed govt. to revise the full-year trade deficit projections on Friday, so that there will be no impact over India’s current account deficit and further value of the rupee.
As per source report, the trade deficit widened to $15.2 billion during this month from January when it was $14.8 billions.
On basis of Trade data, Trade Secretary Rahul Khullar said that Merchandise exports grew an annual 4.3 percent to $24.6 billion in February, while imports grew 20.6 percent to $39.8 billion. Read more
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