Page-2 of Trade Deficit
Gold Imports of 2019-20 dip by 8.86% narrowing Current Account Deficit to 143 billion USD
On March 16, 2020, the Commerce Ministry reported that the gold imports for the period April to February (2019-20) has reduced by 8.86% as compared to the previous year. Highlights India is the largest importer of gold in the world. ..
Month: Current Affairs - March, 2020
US removed “Developing” Tag for India: What are its implications?
Recently, the United States of America removed the “developing” tag for dozens of countries. India is one amongst them. These countries are to be classified as developed economies Highlights The “Developing” status for a country in the US is associated ..
Month: Current Affairs - February, 2020
India to partially open up Poultry and Diary Markets to imports from US
Ahead of President Trump’s visit by the end of February 2020, GoI has announced that it is to partially open the poultry and Diary market to imports from US. Highlights India will now allow imports of US turkey, chicken legs ..
Month: Current Affairs - February, 2020
Trade Deficit with China declines Marginally in 2019
As India’s biggest single or bilateral trade deficit is with China over the last few decades which reached USD 58.04 billion in 2018, The Vice Minister of General Administration of Customs of China, Zou Zhiwu informed that the Indian marine ..
Month: Current Affairs - January, 2020
India to set strict restrictions on non-essential imports from China
Ministry of Commerce and industry has announced that 371 items from China will get strict restriction from March 2020. The move aims at curbing imports of non-essential items such as plastic goods, toys, furniture, sports. Highlights The rules are to ..
Month: Current Affairs - January, 2020
India withdraws from RCEP
On November 4, 2019, India decided against joining Regional Comprehensive Economic Partnership (RCEP) trade deal as India did not receive any credible assurance on market access and non-tariff barriers. This paved way for the other 15-members to go ahead and ..
Month: Current Affairs - November, 2019
How India can reap the benefits of US-China Trade War?
The report from the Ministry of Commerce and Industries provides insights about the opportunities for India from the US-China trade war: The ongoing US-China trade provides a big window of opportunity to India for enhancing its exports for both of ..
Strategy Paper of Ministry of Commerce to bridge Trade Deficit with China
The Strategy Paper of the Ministry of Commerce has outlined measures to bridge the trade deficit with China. India’s Trade Deficit with China Over the last decade, India’s trade deficit with China had increased rapidly. But the deficit narrowed in ..
US Plans To End India’s Preferential Trade Status
President Trump notified the Congress his intent to terminate trade benefits for both India and Turkey under the Generalized System of Preference (GSP) eligibility criteria. India and GSP About 2,000 products, including auto components and textiles, can enter the US ..
Month: Current Affairs - March, 2019
Afghanistan Launches New Export Route to India through Chabahar Port
Afghanistan has launched a new export route to India through the through the Chabahar Port of Iran. 23 trucks carrying 57 tonnes of dried fruits, textiles, carpets and mineral products were dispatched from western Afghan city of Zaranj to Iran’s ..