1. Indian exports rose 7.33% to $27.73 billion in July month, while imports are also increased 4.25% to $40 billion, resulted widening the trade deficit of $12.2 billion.
2. Exports are mainly driven by the manufacturing goods like engineering, leather, pharma and petroleum.
3. Because of the positive developments in markets like US and EU, also Indian government foreign trade policy FIEO(Fedaration of Indian Export Organizations) is expecting that exports 2014-15 may cross $350 billion.
4. Service Exports are down by 6.8% to $ 12.9 billion in June, Imports of services also decreased by 10.4% to 7.19 billion.
5. Up coming Foreign Trade Policy 2014-2019 is mainly focusing on MANUFACTURING goods.
Because of the UKRAINE issue Russia stopped importing meat, poultry and some other agriculture products from US and EU. These imports are worth of $128 billion. This is a good chance for India to grab the opportunity, govt. officials already contacted Russian govt. about this.But Indian meat and other agri based were banned in few countires in that Russia is the one, allthe other countires lifted ban but still Russia dosent, lets see may the trade agrements between these countries will lift the ban!!!
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