This means India is having high growth rate with negative contribution from exports. So high is domestic demand & growth.India Trade Gap Narrows as Import Plunge Exceeds Export Drop
Kartikay Mehrotra
October 15, 2015 — 8:48 AM EDT
Updated on October 15, 2015 — 9:48 AM EDT
India’s trade deficit narrowed as a plunge in imports offset the largest drop in exports since 2009.
The shortfall shrank to $10.5 billion in September from $12.5 billion in August, according to a Commerce Ministry statement on Thursday and previously reported data. Exports fell 24 percent, the steepest fall since July 2009, and imports dropped 25 percent, the most since September 2009.
A rebound in exports is crucial to hold the current-account deficit within sustainable levels, the central bank said in August. It forecasts that the broadest measure of trade will be contained below 1.5 percent of gross domestic product this year through March 31.
“Exports continue to remain a concern and that concern is unlikely to abate particularly with global demand conditions getting weaker,” said Shubhada Rao, chief economist at Mumbai-based Yes Bank Ltd. “But largely, this is a reflection of what’s going on everywhere in the world.”
The drop in imports was led by a 55 percent plunge in oil and 46 percent fall in gold, while crude exports decreased 60 percent and engineering goods dropped 23 percent. The rupee erased gains in the offshore market after the data, with the one-month non-deliverable contract falling to 65.14 a dollar from 65.01.
Exports should recover in October, following the Reserve Bank of India’s interest rate reductions and as indicated by the strongest factory output growth in almost three years this August, according to the Federation of Indian Export Organisations.
“Generally there is two-three months lead time between manufacturing and exports,” S.C. Ralhan, president of the group, said in a statement after the data.
haha, absolutely right!That is why I am saying it is going to take you guys longer time to BUY something than Chinese to BUILD the same. So there is nothing to worry about.
.........Now INDIA is in Passive mode,after Failure of Nirbhay test today....
Alarm bells for China, Pakistan; India eyes S-400 Triumf air defence missile systems
PublishedOctober 16, 2015 | Byadmin
SOURCE : ZEE MEDIA
In what would certainly set alarm bells ringing in China and Pakistan, India is planning to buy Russian S-400 Triumf air defence missile systems, reports said on Thursday. The Indian administration is expected to soon take up the proposal with Russian authorities.
Notably, Prime Minister Narendra Mod is scheduled to visit Russia in December, where he is expected to take up the matter with President Vladimir Putin. Also, Defence Minister Manohar Parrikar is expected to visit India’s neighbour in the near future.
The S-400 is a new generation anti-aircraft system, which can be equipped with very long-range missiles (up to 400km), long-range (250km) and medium-range (120km).
The S-400 Triumf is capable of countering all air attack weapons, including tactical and strategic aircraft, ballistic missiles and hypersonic targets such as the US F-35 fighter jet.
India is likely to purchase 10-12 S-400s.
The S-400 can engage up to 36 targets simultaneously with as many as 72 missiles at altitudes of five meters to 30 km.
Meanwhile, a report recently published by Credit Suisse on globalisation has ranked the Indian armed forces as the fifth strongest military in the world.
While India was ranked fifth, United States of America held the number one position followed by Russia, China and Japan.
According to Credit Suisse report on the trend of globalisation, the US scored 0.94. It was followed by Russia (0.8), China (0.79), Japan (0.72), India (0.69), France (0.61), South Korea (0.52), Italy (0.52), Britain (0.5) and Turkey (0.47).
Importantly, Pakistan was ranked No 11 with a score of 0.41.
Indians take this as actually a done deal LOLNay, we don't really have to worry about it for another 15 years, judging the way you guys carry out your MMRCA project and other arms procurement.
Yes my Indian friend, it's that simple! Just copy and paste. Wonder why you Indians cannot do it?Never understood this theory propounded by chinese all the time.
How come you guys copy paste ( thereby ruling out any R&D cost ) the stuff, improve it but still have to sell the product at below existing market prices t stay in the competition ?
You the man, shot at point blank range
You know, we know, and the whole world knows.
Becos we dont paid the massive R&D that the dumb originator needs to do it. We basically SCAM them and squeeze them to zero.Never understood this theory propounded by chinese all the time.
How come you guys copy paste ( thereby ruling out any R&D cost ) the stuff, improve it but still have to sell the product at below existing market prices t stay in the competition ?
Everyday you can see Chinese companies acquired US or European companies. So who is dumb and the loser?
Becos we dont paid the massive R&D that the dumb originator needs to do it. We basically SCAM them and squeeze them to zero.
See how many European and US companies fold up,replace by the Chinese one. We basically laugh behind their backs.
