Ministry of Commerce has shared a dip of 4.85 per cent in the merchendise exports in November. Meanwhile, the Gold imports reached an all time high of USD 14.8 billion. The trade deficit, or the gap between imports and exports, widened to USD 37. 84 billion.
The government had imposed a ban on exports of non-basmati rice exports on July 20, 2023.
Passenger vehicle exports stood at 1,80,483 units in the first quarter, registering a jump of 19 per cent over 1,52,156 units in the same period last year.
The government imposed a 40 per cent duty on the export of onions last night. In August last year, India had imposed a 40 pc export duty on onions up to December 31, 2023.
This phenomenal growth reflects the concerted efforts and strategic initiatives undertaken by the Defence Ministry to bolster India’s defence manufacturing capabilities and promote indigenous defence production.
The event, organised by a consortium of 11 Textile Export Promotion Councils with support from the Centre, featured over 65 knowledge sessions with more than 100 global panelists discussing various sector-related issues.
The Prime Minister laid the foundation stone for first PM Mitra Park in Gujarat's Navsari to boost the textile industry in the state. He also slammed the Congress party saying it continues to live in negativity.
The BrahMos is a medium-range ramjet supersonic cruise missile that can be launched from submarines, ships, and fighter aircraft. It is a joint-venture between the Indian Defence Research and Development Organisation (DRDO) and the Russian Federation's NPO Mashinostroyeniya.
Riding on the local manufacturing growth, mobile phone exports from the country surpassed $9 billion (more than Rs 75,000 crore) from April to November in the current fiscal year, according to the India Cellular and Electronics Association (ICEA).
The construction sector in India has experienced substantial growth in the aftermath of the pandemic, driven by factors like increasing incomes, a housing shortage in major cities, and rapid population growth.
Three months ago, India jumped from seventh position to third in the automobile exports sector, surpassing powerhouses like Japan.
The government has launched several initiatives to promote the growth of the packaging industry, including the establishment of packaging parks and more.
The prospects of the paper industry are closely tied to various economic indicators. According to the International Project Management Association (IPMA), paper consumption in India is projected to reach 30 million tons by 2027.
The duty on jet fuel or Aviation Turbine Fuel will be reduced to Rs 2.5 per litre effective Saturday, from Rs 3.5 per litre currently. The SAED on petrol will continue at nil.
Nashik onion traders strike: Taking serious cognisance, the District Sub-registrar, Co-operative Societies, on Wednesday night issued an order directing all APMCs to suspend or cancel the licences of the striking traders and submit the Action Taken Report on September 21.
Paper stocks can also benefit from rising e-commerce shopping as well as ready-to-eat and packaged foods.
Trade deficit of the country in August was recorded at USD 24.16 billion.
With a history of reducing debt, the small-cap SME stock is currently trading at 0.70 times its book value.
Raimondo further said that the US will not compromise on its most sophisticated and powerful semiconductor chips to China that can be used for its military.
Both sides agreed to set up new channels to resolve trade disputes and convene experts to hold technical discussions regarding strengthening the protection of trade secrets and confidential business information.
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