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GST PUT ON HOLD
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Distctwise export
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Project Report
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46th anniversary in Export-Import
Hello friends,
On the occasion of my completing 46th year in Export-Import, I
thank my family, relatives, & friends for their help during this journey. I
will continue my contribution towards the growth of all of you and my Nation to
the best of my knowledge & experience in International Trade, especially in
this difficult time.
Bhatia Export Traning & Consultancy
+91 7878045651 bhatiajd@gmail.com www.bhatiaexport.in
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December-2020 Export Import Status of India
December-2020 Export-Import Status
India’s
exports shrank for the third straight month in December but the pace of
contraction slowed to 0.8% from 8.74% decline in November even as the country’s
trade deficit widened.
Preliminary
data released by the commerce and industry ministry showed Saturday Outbound
shipments in December were $26.89 billion and in sectors like petroleum,
leather and marine products witnessed contraction,
The trade
deficit in December widened to $15.71 billion, as imports grew by 7.6% to $42.6
billion due to a sharp increase in gold imports. Gold imports rose 81.8% in
December 2020 to $2.01 billion.
Other
items that witnessed an increase in imports include electronic goods, vegetable
oil, chemicals, textile yarn and fabric, machine tools, pharmaceuticals and
precious & semi-precious stones.
The
ministry said in a statement that “India
is thus a net importer in December 2020”
Followed
by the US and UK. Singapore was the top destination for India’s exports last
month with an increase of $241.63 million led by petroleum products and
engineering goods,
Major
commodities of export which recorded growth during the month under review
include Oil meals (De-oiled cake, Iron ore, Carpet, pharmaceuticals, spices,
electronic goods, fruits and vegetables, and chemicals.
FIEO - Federation
of Indian Export Organisations President, Sharad Kumar Saraf said “The monthly exports have moved towards
positive territory as major export products show signs of further revival as
expected,” The order booking position have continuously improved besides more
new orders in the offing.
In December 2020, oil imports declined 10.37% to
$9.61 billion.
Exports during April-December 2020-21 fell 15.8%
to $200.55 billion compared to the same period last fiscal. Imports posted a
decline of 29.08% to $258.29 billion
To give a leg up to exports, FIEO sought
notification of the RoDTEP- Remission of Duties and Taxes on Exported Products
rates, addressing issues such as adequate
availability of containers, softening of freight charges, release of the
required MEIS benefits and clarity on SEIS benefits and risky exporters.
Complied by:
Bhatia Jagdish owner of Bhatia Export Training &
Consultancy, having 44 years of Export Import knowledge.
bhatiajd@gmail.com www.bhatiaexports.in +91 7878045651