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Dear Exporters
22nd June, 2015
We have the pleasure in presenting the Hundred and Sixtieth (160) Issue of "INTRADE UPDATE" – FIEO's weekly e-bulletin to keep you posted with the global developments affecting International trade as well as country’s foreign trade.
This issue brings to you news on the following main topics including
· Exports dip 20.19% in May; down for six months in a row, · Services exports fall 4.5% to $13.01 billion in April,
· India, Poland set trade target of $5 billion by 2018,
· Trade pact: India tries to ring-fence E-commerce,
· China factor: Centre hikes Steel import duty,
· India inks motor vehicles pact with Bhutan, Bangladesh and Nepal and
· Spices exports touch ₹14,900 Cr in FY'15.
Besides, the issue also covers news on
· Cabinet panel to decide on scheme for cheaper credit to exporters, · Ease of doing business: DIPP initiates 285-Question survey in States, · More centres needed for Gold Monetisation Scheme, · Next 2-3 years 'very critical' as government plans reforms for higher growth rate: FM, · MSME Minister asks banks to make easy finance available to Micro enterprises, · MSME sector gets a Job portal,· WEF India Summit to put spotlight on govt policies, · Dumping duty imposed on Nylon tyre cord fabric imports from China, · India to ask US for 15 months time to lift Poultry ban, · Slight deceleration in trade restrictive steps in G-20: WTO, · Bangladesh to follow WTO rules in fixing transit fees for India and· No consensus yet on WTO farm tariff cuts.
On the economy front the weekly e-bulletin brings news and information on the following important topics
· India's forex reserves rise to a new high of $354 billion,
· Wholesale inflation remains negative for seventh month,
· FDI inflows soar 112% in April to $3.6 billion; Singapore is the top investing country,
· India emerges as UK's third largest FDI source in 2014,
· Singapore a top destination for India's outbound investment,
· Tanzania invites Indian investment in Agri, other sectors and
· Government okays 16 foreign investment proposals worth Rs 6,751 Crore.
On banking/tax front, the issue covers news about
· Banks' export credit dips on high interest rates, · RBI issues final guidelines for Interest rate.· Centre proposes stringent appraisal system for all Public sector banks to infuse efficiency, · Asian Development Bank to increase India lending by 50% to $12 billion by 2018 and · CEA-led committee to suggest GST rates, report likely in two months.
I look forward to your valuable feedback on the e-bulletin to help us make it more useful and informative.
With warm regards,
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