Country's
trade deficit has seen a consistent downfall in last 9-months. Today,
the August trade deficit number was flat at USD 12.48 billion as
compared to USD 12.81 billion month-on-month (MoM). Click HereBullion Tips
The exports came at
multi-year lows at USD 21.27 billion as against USD 23.14 billion MoM,
while the imports dipped 9.95 per-cent to USD 33.74 billion versus USD
35.95 billion in July month.
Ajay Sahai, Director General of Federation he is also Chief Executive Officer (CEO) Federation of Indian Export Organisations (FIEO) has said that out of 30 group products, only seven are in green and rest all are in negative due to global commodity prices. Most surprising, Sahai said, it is the decline in engineering products by USD 2 billion. “One of the main reasons for this is that the government has definitely increased the duty on the steel product price by 2.5 percent, we are not talking about the safeguard duty also,” Sahai said.
Ajay Sahai, Director General of Federation he is also Chief Executive Officer (CEO) Federation of Indian Export Organisations (FIEO) has said that out of 30 group products, only seven are in green and rest all are in negative due to global commodity prices. Most surprising, Sahai said, it is the decline in engineering products by USD 2 billion. “One of the main reasons for this is that the government has definitely increased the duty on the steel product price by 2.5 percent, we are not talking about the safeguard duty also,” Sahai said.
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