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
It is not just DMK chief M Karunanidhi's younger son and his heir apparent MK Stalin and his son Udayanidhi, but even the DMK chief's elder son and former central minister MK Alagiri allegedly used illegally imported cars. Now CNN-IBN exposes how a Directorate of Revenue Intelligence (DRI) officer allegedly covered up the illegal car imports of Alagiri , Stalin and his son and how luxury import cars used by...
06:12 PM, Mar 25, 2013
The Cabinet will take up the crucial shale gas exploration policy in two weeks, Petroleum Minister M Veerappa Moily said Sunday. ...
06:40 PM, Mar 24, 2013
The CBI has said that the imported cars scam unearthed in Chennai may perhaps be the biggest of its kind in India. The scam, in which, the CBI says that officials of the Directorate of Revenue Intelligence (DRI) are also involved, reportedly caused a loss of Rs 50 crore to the government exchequer. ...
04:43 PM, Mar 22, 2013
Sources say Stalin has not been named in the FIR and add that the agency was just looking for a car on the complaint of the Directorate of Revenue Intelligence. ...
11:39 AM, Mar 21, 2013
Finance Minister P Chidambaram has said he disapproves of the CBI raids on DMK leader and Karunanidhi's son MK Stalin as it is bound to be misunderstood. Speaking to CNN-IBN, Chidambaram said, "I strongly disapprove of the action by the CBI. It will be misunderstood. I have spoken to the minister concerned." ...
09:36 AM, Mar 21, 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
India's record-high current account deficit is a chief worry as it is increasing the dependence on foreign investments, the government's top economic adviser said on Tuesday, making the country vulnerable to a sudden stop and reversal in fund inflows. ...
03:59 PM, Mar 05, 2013
The rupee on Monday weakened by 16 paise to trade at nearly two-month low of 55.05 against the dollar in early trade at the Interbank Foreign Exchange market. The rupee fell due to increased demand for the US currency from oil importers. ...
09:52 AM, Mar 04, 2013
Finance Minister P Chidambaram appealed to people not to buy so much gold as a way of reducing hefty imports, speaking on television a day after his 2013/14 budget surprised traders by keeping gold import duty unchanged at 6 per cent. ...
05:17 AM, Mar 02, 2013
To prevent harassment to passengers, the government on Thursday proposed increasing the limit of duty-free import of jewellery via passenger baggage to Rs 50,000 for males and Rs 1,00,000 for females. The rule has been amended for Indian passenger who has been residing abroad for over an year or a person who is transferring his residence to India. ...
05:13 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
New Delhi: India plans to cut oil imports from Iran by 10 to 15 percent in the next fiscal year, and more if Tehran does not lower prices to help cover higher costs resulting from Western sanctions, a government source said. Iran's top Asian oil buyers - China, India, Japan and South Korea - have all reduced imports after the United States and the European Union imposed sanctions aimed at...
11:22 AM, 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
New Delhi: Defence Minister AK Antony on Friday called for reducing India's over-dependence on defence imports and bolstering research and development capabilities. Speaking to officials of Ordnance Factory Board (OFB) and defence public sector undertakings (DPSUs), Antony asked them to make sincere and sustained efforts to reduce the dependence on imports to the maximum extent possible. "While in the era of globalisation, it is not possible to completely do away...
12:58 PM, Oct 06, 2012
New Delhi: Defence Minister AK Antony on Friday called for reducing India's over-dependence on defence imports and bolstering research and development capabilities. Speaking to officials of Ordnance Factory Board (OFB) and defence public sector undertakings (DPSUs), Antony asked them to make sincere and sustained efforts to reduce the dependence on imports to the maximum extent possible. "While in the era of globalisation, it is not possible to completely do away...
12:58 AM, Oct 06, 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
New York: In a preliminary move, a federal judge has denied Samsung's request for a ban on imports of the iPhone, iPad and iPod. It's another setback for Samsung in a globe-spanning legal battle, where each company is accusing the other of violating its patents. A judge at the International Trade Commission in Washington ruled Friday that Apple doesn't violate four Samsung patents. The judge also found that the patents...
11:45 AM, Sep 16, 2012
Mumbai: The import of gold is likely to decline by 40 per cent in the last four months of the year to about 200 tonnes due to fall in demand for the yellow metal amid high prices and poor monsoon, Bombay Bullion Association said on Tuesday. "Import of the precious metal is not very encouraging and we expect about 40 per cent drop in shipments into the country at 200...
09:07 PM, Aug 21, 2012
Mumbai: China is likely to overtake India as the largest importer of gold this year on the back of huge demand for the precious metal for jewellery and investment in the world's second-largest economy, World Gold Council (WGC) said on Thursday. "In the first half, China's demand for gold stood at 417 tonne surpassing India's 383.2 tonne in the same period," WGC Managing Director (India and Middle East) Ajay Mitra...
03:40 AM, Aug 17, 2012
