The country's imports too declined 26 percent to $29.47 billion in August, leaving a trade deficit of $6.77 billion, compared to a shortfall of $13.86 billion in the same month last year, as per the data. Oil imports declined by 41.62 percent to $6.42 billion in the month under review. … [Read more...] about India’s August exports fall 12.66%, imports contract 26%; trade deficit narrows to $6.77 billion
India trade deficit
Data from the Ministry of Commerce showed that during the first seven months of this year, China's nonfinancial outbound direct investment dropped by 2.1 percent on a yearly basis to 423.7 billion yuan ($62 billion). However, the country's nonfinancial outbound direct investment into the BRI-related economies reached $10.3 billion, up 28.9 percent on a yearly basis. The investment accounted for 17 percent of the total, up 4.5 percentage points on a yearly basis. … [Read more...] about B&R economies to boost services trade partnership
The government is also planning to introduce a phased manufacturing program for other sectors to allow companies to gradually increase local value-addition. The program, currently in vogue for components and accessories used for mobile phones, is proposed to be extended for furniture, plastics, toys and low-value consumer durables. Most of these items are currently imported from China. … [Read more...] about India considers $23 billion package to lure global manufacturers
Talking further about FTAs, he said the ministry is "now looking at reviewing and renewing" all old trade agreements to bring symmetry and more balanced trade. "We believe that India has competitive strengths and we can truly get the benefit of a fair and equitable expansion of trade if we do FTAs with proper stakeholder consultations and considering India's capabilities to be able to meet the requirements, particularly of quality, of these countries and making sure that these FTAs are not done at the cost of Indian industry and businesses," Goyal said. … [Read more...] about India has given very good, balanced offer to US for proposed limited trade deal: Piyush Goyal
China and India, despite being such large countries, accounted for only 4.5 per cent and 4.2 per cent of global GDP in 1950 in Purchasing Power Parity (PPP$) terms. The ratio of China’s GDP to India’s was 1.18 in 1913 ($241 billion/$204 billion); in 1950 it was 1.08 ($239 billion/$222 billion). Estimates of per capita income made by Angus Maddison and Dharma Kumar suggest that India might have had a higher per capita income. However, there was not a marked difference in the level of human development. … [Read more...] about Can India catch up with China?