India’s Foreign Trade: July, 2012

A. EXPORTS (including re-exports)

Exports during July, 2012 were valued at US $ 22442.96 million (Rs. 124546.75 crore) which was 14.80 per cent lower in Dollar terms (6.45 per cent higher in Rupee terms) than the level of US $ 26340.73 million (Rs. 116998.69 crore) during July, 2011.Cumulative value of exports for the period April-July 2012 -13 was US $ 97646.92 million (Rs 531602.74 crore) as against US $ 102848.24 million (Rs 459162.24 crore) registering a negative growth of 5.06 per cent in Dollar terms and growth of 15.78 per cent in Rupee terms over the same period last year.

Govt issues export release orders for 91,685 tonnes of sugar

The Food Ministry has issued export orders for nearly 92,000 tonnes of sugar to mills till last week out of the total quantity of five lakh tonnes that the government has allowed for outbound shipment.Sugar mills cannot export their produce without a release order from the Food Ministry.On 22^nd March, an Empowered Group of Ministers (EGoM) on Food headed by Finance Minister Pranab Mukherjee had allowed mills to export 5 lakh tonnes of sugar under an Open General Licence (OGL), which do not entail any restrictions.

India-Bangladesh Border Haats to be inaugurated in June

 

The Union  Commerce and Industry Minister, Shri Anand Sharma, during his ongoing Bangladesh visit addressed the need to further strengthen economic integration between the two countries.  He noted that private sector investment from India to Bangladesh to the tune of  US $ 3.5 billion is in the pipeline. Increased Indian investments in Bangladesh will provide employment and value addition for Bangladesh exports to the rest of the world.  

Both sides noted that trade has increased significantly between the two sides.  Bangladesh exports have increased 6 times in the last few years.  In the first three quarters of the current year, it has reached the level of US $ 359 million, which is higher than the exports of US $ 304 million last year. India and Bangladesh agreed to take further steps to promote trade and economic cooperation. These include