India's merchandise exports contracted 12.2 per cent year-on-year (YoY) in December to $34.48 billion as slowing external demand amid recession fears in developed economies continued to weigh on outbound shipments, the data released by the commerce and industry ministry showed. Still in the first nine months of the current financial year, exports grew nearly 9 per cent.
The latest decline in the value of outbound shipments can also be attributed to the statistical effect of a high base because December 2021 witnessed the second-highest monthly exports in the previous financial year at $39.3 billion.
"There are a lot of headwinds. Despite that, our export competitiveness has held its head high... It is clear that there are headwinds and there is a recession in our export countries (markets). Therefore, we need to look at export targets in a manner that we are able to reap benefits in relation to countries witnessing GDP growth, such as Brazil and other Latin American nations," Commerce Secretary Sunil Barthwal said on Monday.
Bu hikaye Business Standard dergisinin January 17, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Standard dergisinin January 17, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
Women share in urban salaried jobs at 6-yr low
The share of women employed in regular ☐ salaried jobs in urban India hit a fresh low in the January-March quarter (Q4) of 2023-24 (FY24).
NARAYANAN VAGHUL (1936-2024) 'Vaghul style of leadership created a factory of leaders'
RENUKA RAMNATH My first encounter with N Vaghul, was in 1986, when I joined ICICI as a junior officer on probation.
Gold loans still shining
Regulatory scrutiny of such lending is growing but it is unlikely to slow down business, reports RAGHU MOHAN
MIGRATION, PROMOTION, CONVERSATION
What lies ahead for the India-EFTA free-trade deal?
A higher interchange is critical for ATM business'
A decade after white-label ATM operators (WLAOS) came into play, only a shade more than 30,000 units have been set up by them.
Closure of old credit card can negatively impact credit score
If the card is old and expensive but not useful, downgrade it to a no-fee card
'Market assumes easy re-election for incumbent govt'
The recent spike in volatility, often observed preceding big events, is compounded by quarterly earnings and a renewed focus on China, according to PRATIK GUPTA, chief executive officer and co-head of Kotak Institutional Equities.
Valuation swell prompts balanced advantage funds to lower sails
ADJUSTING TO MARKET TIDES: Large BAFs trim net exposure to below 60%
Japan's stock market dawn: The new Land of Rising Equities
CLEAR SKIES AHEAD: Chris Wood of Jefferies spots promise in its bank stock breakout
USA Inc: Woke vs greed
It's been 14 years since Goldman Sachs was vilified as a \"vampire squid\" by Matt Taibbi in Rolling Stone.
