India's Economy Recovered Strongly Despite 3 Covid Waves, Jab Drive Laudable: US Report
2 years, 6 months ago

India's Economy Recovered Strongly Despite 3 Covid Waves, Jab Drive Laudable: US Report

News 18  

The Indian economy has rebounded strongly despite three significant COVID-19 waves, the US Treasury has said in a report to Congress. After recording a current account surplus of 1.3 per cent of GDP in 2020, its first surplus since 2004, India returned to a current account deficit of 1.1 per cent of GDP in 2021. The return to a current account deficit was driven by a sharp deterioration in India’s trade deficit, which widened to USD 177 billion in 2021 from USD 95 billion the previous year, it said. Remittances grew around five per cent in 2021, reaching USD 87 billion, or 2.8 per cent of GDP, it said, adding the Treasury assesses that in 2021, India’s external position was broadly in line with economic fundamentals and desirable policies, with an estimated current account gap of 0.3 per cent of GDP. India’s bilateral goods trade surplus reached USD 33 billion, while the bilateral services surplus grew to USD 12 billion in 2021.

India Trade Treasury Billion Cent Gdp Goods Usd Surplus 2021  gdp  cent  usd  drive  treasury  2021  recovered  economy  billion  trade  report  waves  despite  indias  jab  laudable  strongly  goods  surplus

History of this topic

India’s trade braces for an action-packed 2025
1 day, 7 hours ago

India’s trade braces for an action-packed 2025

Live Mint  

India’s external trade, navigating a phase of uncertainty owing to the European Union's new carbon tax on imports and slowing consumption in Europe, is set face further pressure. Yet, according to Pralok Gupta, associate professor, Indian Institute of Foreign Trade, which operates under the ministry of commerce and industry, “If US imposes high tariffs on China, India may face collateral …

Rupee at 85 to a Dollar: Sinking Towards 100?
2 days, 1 hour ago

Rupee at 85 to a Dollar: Sinking Towards 100?

The Quint  

India has indeed developed a strong export franchise in not only IT services but also in setting up global capability centers that employ over 1.5 million talented Indians for highly productive use. India, in contrast to its merchandise counterpart, import much less of services, and generate good surplus despite Indians’ itch to travel abroad and seek overseas education. India exported …

What India-US trade could look like after Trump takes office
5 days, 21 hours ago

What India-US trade could look like after Trump takes office

Live Mint  

By Manoj Kumar NEW DELHI, Dec 19 - India is preparing for possible trade talks with the United States, aiming for increased investments from U.S. companies and higher exports once President-elect Donald Trump takes office. Here are key commercial issues between the two countries: TRUMP POLICY ON CHINA India seeks to leverage Trump's policy by capitalising on U.S. trade tension …

Services led exports are a mixed blessing for the Indian economy
6 days, 5 hours ago

Services led exports are a mixed blessing for the Indian economy

Live Mint  

If every cloud has a silver lining, the glow around India’s data that shows November’s trade deficit at a record high of $37.9 billion is the remarkable performance of service exports. In a scenario where US President-elect Donald Trump has threatened to slap “reciprocal" tariffs on India, this strong showing of service exports and declining reliance on the export of …

Indian economy to grow 6.6% in FY26: Ind-Ra
6 days, 13 hours ago

Indian economy to grow 6.6% in FY26: Ind-Ra

The Hindu  

India Ratings and Research on Wednesday projected the Indian economy to grow at 6.6% in 2025-26, up from 6.4% in the current fiscal year. Ind-Ra believes investments will be a key growth driver for the Indian economy in FY26, like in FY22 and FY24. While the June quarter GDP growth of FY25 was impacted by the combination of a strong …

Record trade deficit adds to rupee’s challenges, may open to all-time low
1 week, 1 day ago

Record trade deficit adds to rupee’s challenges, may open to all-time low

Live Mint  

By Nimesh Vora MUMBAI, Dec 17 - The Indian rupee may slip to an all-time low on Tuesday with the currency, already under pressure from slowing growth, choppy equity flows and a dollar rally, will have to contend with an unexpected widening in trade deficit to a record high. The jump in gold imports and weak exports pushed India's merchandise …

India’s Trade Deficit Widens to Record as Gold Demand Soars
Top News
1 week, 1 day ago

India’s Trade Deficit Widens to Record as Gold Demand Soars

Live Mint  

-- India’s trade deficit expanded to a record high in November, as the nation’s import bill ballooned, particularly due to a rise in gold shipments. The gap between exports and imports stood at $37.8 billion in November, trade ministry data showed Monday, much higher than the $23 billion deficit forecast by economists in a Bloomberg survey. A widening trade deficit …

India’s imports rises to 27%, touches to record high of almost $70 billion
1 week, 1 day ago

India’s imports rises to 27%, touches to record high of almost $70 billion

The Hindu  

India’s merchandise exports fell 4.83% to $32.11 billion in November while the import bill jumped 27% to a record high of almost $70 billion, as per data released by the Commerce Ministry. This is the third time in four months that India’s import bill has hit a record high, but November’s tally surpasses the last two occasions by a wide …

Govt confident of economic rebound despite global challenges, says Piyush Goyal
1 week, 5 days ago

Govt confident of economic rebound despite global challenges, says Piyush Goyal

Live Mint  

New Delhi: Despite global uncertainties owing to supply-chain disturbances following the Red Sea crisis, union commerce and industry minister Piyush Goyal has said he was confident that India's economic growth would be back on track by the end of the fiscal year. Speaking at Times Network’s India Economic Conclave on Thursday, Goyal said, "There was an election in the first …

The great unknown: how a Trump presidency could affect the world, in five charts
1 week, 6 days ago

The great unknown: how a Trump presidency could affect the world, in five charts

Live Mint  

US President Harry S. Truman once famously asked for a “one-handed economist" because he was tired of economists who, instead of giving decisive answers, would say, “On the one hand, this, and on the other hand, that." A plan to impose across-the-board tariffs on Mexico, Canada and China reinforced the view that tariffs would increase prices and keep US interest …

Merchandise trade deficit and services trade surplus to touch record high in Q3
2 weeks, 5 days ago

Merchandise trade deficit and services trade surplus to touch record high in Q3

Deccan Chronicle  

Chennai: In the December quarter, Indian trade will see both merchandise trade deficit and services trade surplus touching record high levels. The goods trade deficit is likely to touch a record high of $80 billion while services trade surplus too could register a fresh high of around $49 billion in Q3 FY25. The global trade in commercial services grew at …

India faces high exposure to US trade policy shift
2 weeks, 5 days ago

India faces high exposure to US trade policy shift

Deccan Chronicle  

Chennai: India will be one of the key economies that are most exposed to a potential trade policy shift in the US under the new regime. The 2025 trade outlook is clouded by potential US policy shifts, including broader tariffs that could disrupt global value chains and impact key trading partners, said UNCTAD in its global trade update. This 3.3 …

India’s exports rise, boosting global presence
3 weeks ago

India’s exports rise, boosting global presence

Deccan Chronicle  

New Delhi: India is eyeing to be a global economic powerhouse with its remarkable achievements in the export landscape. “India’s export performance in several key product categories has shown notable success, with the country maintaining or improving its rank among the top 10 global suppliers, all with export values exceeding $1 billion in 2023,” the ministry said. “The petroleum sector …

Commerce Ministry Reviews India-US Trade Ties Amid Trump’s Controversial Remark
3 weeks, 1 day ago

Commerce Ministry Reviews India-US Trade Ties Amid Trump’s Controversial Remark

ABP News  

The commerce ministry is reviewing aspects of India-US trade relations, focusing on the implications of statements made by US President-elect Donald Trump during his election campaign and after the results, an official said, according to a PTI report. Trade experts have argued that Trump’s characterisation of India as an "abuser" of tariffs is unfair, as many countries, including the US, …

Trump's tariffs will worry India, but wait, there’s more
1 month, 1 week ago

Trump's tariffs will worry India, but wait, there’s more

Live Mint  

The return of Donald Trump to the US presidency has raised fears worldwide of a trade war. This resulted in a trade war with several countries, including China and India, which imposed retaliatory tariffs on US goods. Besides an increase in average tariffs on Indian imports, the number of tariff lines subject to tariffs of 25% or more rose from …

India’s trade deficit with China soars during April-October despite import curbs
Trending News
1 month, 1 week ago

India’s trade deficit with China soars during April-October despite import curbs

Live Mint  

New Delhi: India’s merchandise trade deficit with China has risen 13% during the first seven months of the current fiscal year, despite government measures aimed at cutting reliance on the Asian manufacturing major and restrictions on import of certain products from the country. India's goods trade deficit with China widened to $57.83 billion during April-October from $51.12 billion a year …

India’s current account deficit to remain manageable in FY25, Rupee to remain in pressure: Bank of Baroda
1 month, 1 week ago

India’s current account deficit to remain manageable in FY25, Rupee to remain in pressure: Bank of Baroda

Live Mint  

New Delhi, November 15 : India's current account deficit will remain within a manageable range for both FY25 and FY26, largely due to muted oil prices that are expected to support the country's external financial position, projected a recent report by Bank of Baroda. Despite global market volatility, the report stated that steady oil prices at current levels are a …

Merchandise exports surge amid focus on key markets, countries
Trending News
1 month, 1 week ago

Merchandise exports surge amid focus on key markets, countries

Hindustan Times  

India’s merchandise exports registered 17.25% growth to $39.20 billion in October over the same month last year, with non-petroleum exports aggregating a record $211.34 billion in the first seven months of current financial year despite global headwinds, commerce secretary Sunil Barthwal said, crediting a concerted policy push and Christmas demand for the growth. India’s services exports in October 2024 is …

India’s goods trade deficit widens to $27 billion in October
Trending News
1 month, 1 week ago

India’s goods trade deficit widens to $27 billion in October

Live Mint  

New Delhi: India’s merchandise trade deficit widened to a two-month high in October, driven by a rise in imports, data released by the commerce ministry on Thursday showed. The goods trade deficit—the difference between exports and imports—stood at $27.14 billion in October, up from $20.78 billion in September. The overall trade deficit, including both services and merchandise, fell to $10.12 …

India bets on Modi-Trump warmth to navigate choppy future with US
Trending News
1 month, 2 weeks ago

India bets on Modi-Trump warmth to navigate choppy future with US

Al Jazeera  

New Delhi, India — During his campaign for re-election, Donald Trump repeatedly threatened major tariffs on imports from a range of countries. Now, Trump’s “America First” agenda — which aims to offset domestic tax cuts by imposing higher tariffs on imports — could disrupt that relationship. “During the first term, Trump got into this whole ‘protectionist mode’, but upon his …

India poised to gain from Trump’s potential tariff hike on China, says report
1 month, 2 weeks ago

India poised to gain from Trump’s potential tariff hike on China, says report

Live Mint  

Following Donald Trump's victory in the U.S. presidential elections, a report from CareEdge suggests that India could benefit from potential shifts in global trade dynamics if Trump moves forward with plans to impose high tariffs on Chinese imports. Such policies aim to reduce the U.S. dependence on Chinese imports, a move that could disrupt established trade channels and prompt companies …

Trump's potential return sparks concerns over Indo-US trade ties, tariffs
Trending News
1 month, 2 weeks ago

Trump's potential return sparks concerns over Indo-US trade ties, tariffs

New Indian Express  

Donald Trump’s return as the 47th president of the US will likely put Indo-US trade ties under sharp focus. Trump has promised a fresh wave of tariffs under his ‘America first’ stance, which may adversely affect countries like India and its key sectors such IT, pharmaceuticals, textiles, chemicals and automotive parts. He even proposed import duty increases of 10-20 percent …

India-US trade after Trump returns:Much to fret about but scope for optimism too
1 month, 2 weeks ago

India-US trade after Trump returns:Much to fret about but scope for optimism too

Live Mint  

The much-awaited US election results on Wednesday showed that Donald Trump will be returning to the White House in early 2025. For India, a positive trade balance with the US is important, as it is among the country’s top three trade partners. First, the ‘Make in India’ campaign of Prime Minister Narendra Modi, despite its similarity with ideas like Trump’s …

America First, round two: What Trump's trade agenda means for India and the world
1 month, 2 weeks ago

America First, round two: What Trump's trade agenda means for India and the world

India Today  

With Donald Trump’s return to the White House, global trade dynamics face a seismic shift. India’s strategic balance As Trump brings his protectionist trade policies back, India faces pressure to lower trade barriers or risk tariffs on key exports. Why India matters to the US India holds unique significance for the US — first, as a strategic partner in countering …

US elections 2024 outcome could reshape India trade ties
1 month, 2 weeks ago

US elections 2024 outcome could reshape India trade ties

Live Mint  

NEW DELHI : With Donald Trump, the Republican nominee and former US president, leading the US presidential race, India's trade ties with the country—one of the few with which India has a merchandise trade surplus—are likely set for a paradigm shift. While Donald Trump’s America First agenda may lead to higher tariffs on Indian goods, especially in key sectors like …

Is the spike in India’s trade deficit a worry?
3 months ago

Is the spike in India’s trade deficit a worry?

The Hindu  

The story so far: After a positive start to goods exports in the first quarter of 2024-25, there has been a blip in momentum. On the exports front, 18 of India’s top 30 segments recorded growth in July and 19 in August, but the big-ticket sectors like petroleum, and gems and jewellery, have tanked significantly. While gems and jewellery exports …

India has trade surplus with 151 nations; deficit with 75 during Jan-June 2024: GTRI
3 months, 3 weeks ago

India has trade surplus with 151 nations; deficit with 75 during Jan-June 2024: GTRI

The Hindu  

India has recorded trade surplus with as many as 151 countries such as the U.S. and Netherlands, while the country has a trade deficit with 75 nations including China and Russia during the first half of this year, according to think tank GTRI. "Between January and June 2024, India had a trade surplus with 151 countries, representing 55.8 per cent …

India’s Trade Deficit Widens to $23.5B in July
4 months, 1 week ago

India’s Trade Deficit Widens to $23.5B in July

Deccan Chronicle  

Chennai: India's trade deficit widened to $23.50 billion in July as exports dipped 1.4 per cent and imports grew 7.5 per cent. However, combined exports of merchandise and services registered a growth of 2.8 per cent and the ministry expects this year’s combined exports to be higher than last year’s. Merchandise exports in July this year dipped by 1.4 per …

DC Edit | Global meltdown triggered by US
4 months, 2 weeks ago

DC Edit | Global meltdown triggered by US

Deccan Chronicle  

Economists at Goldman Sachs Group Inc. put the probability of a US recession in the next year to 25 per cent, which is 10 percentage points more than their previous forecast of 15 per cent. Whether it was caused by the stress in the US economy or new advancements in technology, it is bound to affect consumer demand in the …

Strong trade ties boosting India’s export market share: Economic Survey
5 months ago

Strong trade ties boosting India’s export market share: Economic Survey

Hindustan Times  

India is gaining market share in global exports of merchandise and services, benefiting from its strong trade relations across countries, which raised its share in global goods exports to 1.8% and services to 4.3% in FY24 as compared to an average of 1.7% and 3.3% respectively during FY16-FY20, the economic survey said on Monday. The government took various measures to …

Trade tact: The Hindu Editorial on India’s trade policy focus
5 months ago

Trade tact: The Hindu Editorial on India’s trade policy focus

The Hindu  

India’s goods exports rose for the third successive month this June, growing 2.55% to $35.2 billion. With oil prices virtually unchanged over the last two months, this signals a drop in export volumes, just as a sharper 19.6% rise in June’s oil imports suggests a domestic demand spike. The oil deficit accounts for almost half of the first quarter trade …

India's exports in Q1 show resilience despite global slowdown: CRISIL
5 months, 1 week ago

India's exports in Q1 show resilience despite global slowdown: CRISIL

New Indian Express  

India's exports have shown resilience amidst global challenges, with merchandise exports rising by 5.8% to $109.96 billion in the first quarter of fiscal 2025, according to CRISIL. "On a cumulative basis, merchandise exports rose 5.8% to $109.96 billion for the first quarter of fiscal 2025, from $103.9 billion in the year-ago period. This growth in exports in the first quarter …

India's exports soar 2.56 per cent to USD 35.2 billion in June: Govt data
5 months, 1 week ago

India's exports soar 2.56 per cent to USD 35.2 billion in June: Govt data

India TV News  

The government of India on Monday released data on the exports by the nation in the month of June. According to the data, India's merchandise export in June increased by 2.56 per cent to $35.32 billion compared to $34.32 billion in June last year. In May, the country's merchandise exports increased by 9.1 per cent and reached USD 38.13 billion, …

The shape of manufacturing 3.0 for Modi 3.0
5 months, 2 weeks ago

The shape of manufacturing 3.0 for Modi 3.0

The Hindu  

Prime Minister Narendra Modi has formed the government, albeit now as head of a coalition in his third term. Success in manufacturing will not only help India’s domestic trade and employment goals but also expand resources for national security — which is good for American interests, too. The United States has a stake in India’s success in building a robust …

India’s Current Account Balance Turns Surplus in Q4FY24
6 months ago

India’s Current Account Balance Turns Surplus in Q4FY24

Deccan Chronicle  

Mumbai: India’s current account balance recorded a surplus of $ 5.7 billion in the fourth quarter of FY24 due to higher service exports and private transfer receipts, according to data released by the Reserve Bank of India. The current account balance was in deficit of $ 8.7 billion in Q3 2023-24 and $ 1.3 billion a year ago. Net services …

India in trade deficit with nine of top 10 trading partners in 2023-24
6 months, 4 weeks ago

India in trade deficit with nine of top 10 trading partners in 2023-24

The Hindu  

India has recorded a trade deficit, the difference between imports and exports, with nine of its top 10 trading partners, including China, Russia, Singapore, and Korea, in 2023-24, according to official data. India's total trade deficit in the last fiscal narrowed to $238.3 billion as against $264.9 billion in the previous fiscal. Economic think tank Global Trade Research Initiative said …

Goldman Sachs predicts this ‘favourable scenario’ for Indian economy by 2030
7 months, 3 weeks ago

Goldman Sachs predicts this ‘favourable scenario’ for Indian economy by 2030

Hindustan Times  

India's services exports are likely climb to $900 billion- about 12.4 percent of its GDP, by 2030- Goldman Sachs said in what it called a "favourable scenario" of the economy. "India has been gaining share in professional consulting globally, which is relatively less concentrated than other sectors, and India has scope of gaining further share with the rise of GCCs," …

India’s services export grew faster than global average in 2023: UNCTAD data
7 months, 4 weeks ago

India’s services export grew faster than global average in 2023: UNCTAD data

Hindustan Times  

NEW DELHI: India’s annual services export grew at 11.4% in 2023 against the global average of 8.9% and surpassed China which witnessed a 10.1% contraction in the year, according to the quarterly bulletin released by the United Nations Conference on Trade and Development. Robust services trade helped India to compensate for a 3.11% year-on-year contraction in merchandise exports in FY2024 …

Goods exports hit 12-month high of $41.68 billion in March
8 months, 1 week ago

Goods exports hit 12-month high of $41.68 billion in March

The Hindu  

India’s goods exports hit a 12-month high of $41.68 billion in March, although it constituted a 0.67% decline from last year’s tally, while imports dropped 6% to $57.3 billion last month. Goods imports dropped by a sharper 5.41% to $677.24 billion in 2023-24, which helped moderate India’s trade deficit for the year to $240.2 billion, 9.33% lower than the preceding …

India's exports register healthy growth to European, Latin American nations in 2023
8 months, 2 weeks ago

India's exports register healthy growth to European, Latin American nations in 2023

The Hindu  

Indian exporters made further inroads in European and Latin American nations in 2023, registering healthy growth in countries such as Romania, Montenegro, Austria, and Guatemala, an official said on Friday. India's merchandise export rose 2.1% to the European Union in 2023 despite headwinds being faced by large developed markets like the EU and the U.K. due to high cost of …

Trade deficit widens to USD 18.71 billion in Feb as both imports, exports rise
9 months, 1 week ago

Trade deficit widens to USD 18.71 billion in Feb as both imports, exports rise

New Indian Express  

NEW DELHI: India’s trade deficit increased to $18.71 billion in February from $17.49 billion in January, with imports exceeding exports, amid red sea crisis, as per recent official data. Goods imports surged to $60.11 billion in February from $54.41 billion in January, while exports increased to $41.40 billion from $36.92 billion. Goods exports grew by 11.86% compared to $37.01 billion …

India’s monthly merchandise exports rise to $41.40 billion in February
9 months, 1 week ago

India’s monthly merchandise exports rise to $41.40 billion in February

Hindustan Times  

NEW DELHI: India reported a robust 12% annualised growth in merchandise exports at $41.4 billion in the month of February despite global headwinds, narrowing contraction in the first 11 months of 2023-24 by 3.6% to $395 billion, a senior official said. In 2022-23, India’s merchandise exports crossed $451 billion while overall exports achieved a record $770 billion. Releasing the monthly …

India’s merchandise exports up 3.12% in January
10 months, 1 week ago

India’s merchandise exports up 3.12% in January

Hindustan Times  

India’s merchandise exports reported a 3.12% increase to $36.92 billion in January despite global headwinds, showing positive growth for the second consecutive month, with overall exports -- both goods and services -- estimated to have risen 9.27% to $69.72 billion in the month, government data released on Thursday said. Releasing trade data for January, commerce secretary Sunil Barthwal said, “Despite …

Jan. goods trade deficit narrows sequentially to nine-month low of $17.5 billion
10 months, 1 week ago

Jan. goods trade deficit narrows sequentially to nine-month low of $17.5 billion

The Hindu  

India’s merchandise trade deficit, which had hit a record high of $29.9 billion in October, narrowed sequentially for the third straight month and touched a nine-month low of $17.5 billion in January, provisional estimates released by the Commerce Ministry on Thursday showed. Services exports, whose actual numbers will be released later, are estimated to have expanded 17.5% last month to …

India-China bilateral trade hit a new record in 2023: Envoy
10 months, 2 weeks ago

India-China bilateral trade hit a new record in 2023: Envoy

The Hindu  

India and China trade reached record levels in 2023, said the Chinese envoy to India, indicating that bilateral trade had surpassed 2022 figures despite a slowdown mid-year. Speaking at an event in Delhi celebrating the Chinese New Year, the envoy, Charge D’Affaires Ma Jia said that the growth in trade, to US $136.2 billion went along with other areas of …

Indian economy to grow close to 7% in FY25, hit $7 trillion by 2030: FinMin
10 months, 3 weeks ago

Indian economy to grow close to 7% in FY25, hit $7 trillion by 2030: FinMin

Live Mint  

Even as the finance ministry expects FY24 economic growth to exceed the central bank’s projection of 7%, it also expects growth in the following year, FY25, to be close to 7%, even though geopolitical risks could lead to supply chain disruptions and a rise in inflation. The ministry’s latest monthly economic review also said that under reasonable assumptions, India can …

A cloudy horizon: The Hindu Editorial on trade data
1 year ago

A cloudy horizon: The Hindu Editorial on trade data

The Hindu  

From a rare upward swing this October, India’s goods exports retreated into contraction last month, dipping 2.8% from 2022 levels to touch $33.9 billion. Imports dropped 4.33% to $54.5 billion, cooling the merchandise trade deficit to $20.6 billion, almost a third below October’s record high. August’s goods trade deficit was moderated by nearly three billion dollars, with the overall export-import …

Deceptive signals: The Hindu Editorial on India’s October 2023 goods exports numbers
1 year, 1 month ago

Deceptive signals: The Hindu Editorial on India’s October 2023 goods exports numbers

The Hindu  

Last month, India’s goods exports recorded only their second uptick this financial year, with a 6.2% rise. Merchandise imports grew a sharper 12.3% over last October and nearly 21% over September’s tally to hit an all-time high of $65.03 billion. The Finance Ministry’s monthly economic review asserted that merchandise exports “surprised on the upside” with the highest growth in 11 …

India will be third largest GDP by 2027, says Nirmala
1 year, 1 month ago

India will be third largest GDP by 2027, says Nirmala

Deccan Chronicle  

New Delhi: Terming the India-Middle East-Europe Connectivity Corridor as one of the most promising connectivity projects, Union finance minister Nirmala Sitharaman on Wednesday said that it would be a win-win situation for all stakeholders who are involved in bringing efficiency in transportation, reducing logistic costs, increasing economic unity, generating employment, and lowering greenhouse gas emissions. The country’s economic growth is …

India sees 6.2% rise in goods exports in October
1 year, 1 month ago

India sees 6.2% rise in goods exports in October

The Hindu  

India’s goods exports grew only for the second time in 2023-24 in October, albeit on a low base, rising 6.2% to $33.6 billion, but imports jumped to a record high of $65.03 billion, 12.3% over last year, fuelled by higher gold inflows. Consequently, India’s monthly goods trade deficit widened to an all-time high of $31.46 billion, eclipsing the previous record …

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