New Delhi: Country's merchandise exports grew by 1.6 per cent to $24.16 billion in April this year, whereas imports increased by 10.9 per cent. Imports during the reported month stood at $41.95 billion.
Exports in April 2012 stood at $23.7 billion, while imports were at $37.8 billion. Due to high imports, the trade deficit rose to $17.8 billion, Commerce Secretary SR Rao told reporters on Monday.
Rao attributed the widening of trade deficit in the first month of the current fiscal to high gold imports. Gold and silver imports during April, 2013 jumped by 138 per cent to $7.5 billion against $3.1 billion in the year-ago period.
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01:45 PM, May 13, 2013
New Delhi: The country's agricultural and allied product exports have increased by 11 per cent to USD 33.54 billion in the 2012-13 fiscal, Parliament was informed on Tuesday. "India's export of agricultural and allied products have increased from USD 29.8 billion in 2011-12 to USD 33.54 billion in 2012-13," Minister of State for Agriculture Tariq Anwar said in a written reply to the Lok Sabha. Currently, global prices of wheat,...
04:59 PM, May 07, 2013
Berlin: Notwithstanding severe economic sanctions slapped by the US and UN against Iran, India will continue to buy oil from "vital supplier" Iran, Foreign Secretary Ranjan Mathai said on Thursday. "We will continue to buy oil from Iran," Mathai said adding that the recent decline in oil import from Iran was due to logistics and banking problems and not because of any other reason. Mathai, who is part of the...
10:17 PM, Apr 11, 2013
Chennai: Two and three wheeler maker TVS Motor Company has reported a 8.18 per cent decline in sales in March to 1,67,583 units as against 1,82,527 units in the same month in 2012. The city-based company witnessed a fall in two-wheeler sales to 1,62,507 units from 1,80,274 units in March, 2012, TVS Motor said in a statement. Sales of two-wheelers in the domestic market also decreased to 1,43,239 units in...
12:57 PM, Apr 01, 2013
New Delhi: Government's plans to set up a fund to back local insurers providing cover for refiners processing Iranian oil after companies warned they would be forced to halt imports from the sanctions-hit nation, the federal oil secretary said on Sunday. Mangalore Refinery and Petrochemicals Ltd and Essar Oil have said they would halt imports from Iran because of insurance problems, Vivek Rae told reporters. Europe and the United States...
05:47 PM, Mar 24, 2013
China has become the world's fifth largest exporter of major conventional arms buoyed by Pakistan's growing import from its communist ally, even as India emerged as the leading buyer of weapons, a Swedish think tank said on Monday. ...
05:46 PM, Mar 18, 2013
India's February exports rose 4.25 per cent from a year earlier to $26.3 billion, while imports rose 2.6 per cent to $41.2 billion, leaving a trade deficit of $14.9 billion, trade ministry officials said on Monday. ...
12:55 PM, Mar 11, 2013
Iran's oil export revenues are helping Indian rice exporters to claw back some of the lucrative business lost to cross-border truckers in Pakistan as a result of Western sanctions. ...
03:43 AM, Mar 09, 2013
India's offer of an extra 5 million tonnes of wheat for export direct to private traders is at too high a price, traders said, undermining its own efforts to avoid rotting stocks and make room for the new harvest. ...
04:38 AM, Mar 08, 2013
Finance Minister P Chidambaram proposed tax incentives to increase shipments of labour-intensive sectors such as leather, much to the cheer of exporters. "I look forward to the changes that will be made to the Foreign Trade Policy next month and I assure my support to measures that will be taken to boost exports of goods and services," he said in his Budget 2013-14 speech. ...
03:34 PM, Feb 28, 2013
After contracting for eight straight months, India's exports grew by a meagre 0.82 per cent in January to $25.58 billion. Exports had stood at $25.37 billion in January, 2012. ...
12:31 PM, Feb 13, 2013
Exports from India's IT outsourcing sector are expected to grow between 12 and 14 per cent in the fiscal year starting April to as much as $87 billion, according to the National Association of Software and Services Companies (Nasscom), the industry lobby. ...
01:58 PM, Feb 12, 2013
New Delhi: Iron ore miner NMDC has suffered Rs 745.94 crore revenue loss during 2007-10 for not revising the domestic prices of the steel-making raw material in line with prevailing market rates, government auditor CAG said. "...due to non-revision of domestic prices by the company (NMDC) in line with movement of market price, the company has suffered a revenue loss of Rs 754.94 crore during 2007-10," CAG said in a...
01:05 PM, Dec 20, 2012
New Delhi: India's annual exports fell 11 per cent to $23.7 billion in September, while imports rose 5.09 per cent to $41.8 billion, leaving a trade deficit of $18.08 billion, the government said in a statement, citing provisional trade data. India's overseas sales have fallen from year-ago levels in six of the past seven months, with trade officials blaming weak demand for major exports. Oil imports for September were $14.09...
01:12 PM, Oct 11, 2012
India's current account deficit for the April-June quarter came in at USD16.4 billion, lower than another USD 17.4 billion in the first quarter of last year as well as lower than the USD 21.7 billion in the previous quarter, (Q4FY12). As a percentage of the gross domestic product (GDP) the current account deficit works out to 3.9 per cent lower than the 4.3 per cent, reports CNBC-TV18's Latha Venkatesh. It...
10:24 AM, Sep 29, 2012
Madurai: In what came as a breakthrough in the illegal mining cases against PRP Exports, an underground facility that housed a server room was unearthed on the company premises on Friday. Computer hard disks with a total memory of over 2,000 GB " said to contain vital information pertaining to the firms operations " were seized from the underground server room. The firms staff and managers had already removed the...
11:51 AM, Sep 01, 2012
Madurai: Special teams formed by the district administration on Tuesday identified granite stones and marble worth a total of Rs 15,000 crore at a factory and quarries owned by PRP Exports in the district. As part of the crackdown on the granite mafia in the region, some of the 20 special teams formed by collector Anshul Mishra have been inspecting quarries in Melur taluk, while a few others have been...
12:28 PM, Aug 29, 2012
New Delhi: India's exports declined by 14.8 per cent in July, steepest fall in three years, to $22.4 billion in the face of severe demand squeeze in Europe and slowdown in the US. Reflecting slowdown in the economy, imports too declined by 7.61 per cent to $37.9 billion in July, leaving a trade deficit of $15.5 billion. During the April-July period of 2012-13, exports have shrunk by 5.06 per cent...
08:01 PM, Aug 14, 2012
Madurai: In a first such crackdown on big sharks involved in illegal granite quarrying in the Southern region, the Madurai district administration on Thursday sealed the premises of granite major PRP Exports amidst protests from its 7,000-strong workforce. The move was aimed at preventing its promoters from destroying evidences of illegal mining and encroachment on Government land and water bodies. The sealing exercise, sparked by a whistle-blowing report on the...
12:31 PM, Aug 10, 2012
Kolkata: The king of fish, Hilsa, is a must for all Bengali households, but the monsoon delight has gone missing from the menu this time. And it is exorbitant prices that are to blame. Prices ranging between Rs 800 and Rs 1200 per kilo has added to the collective depression of the Bengali community. "We are missing Hilsa, this is quite sad. We love Hilsa but we are unable to...
08:55 AM, Aug 10, 2012
