New India is 4th largest retail market globally
Posts
SynopsisIndia's exports are expected to grow by around 12%, resulting in a global export share of around 4% by 2030, or $1.6 trillion. However, weak global growth in the medium term, further supply chain fractures, and rising protectionism could challenge the strategy. India has been a key beneficiary of the "China+1" strategy, with the tech-intensity of exports gradually increasing.
India-Japan In 2022, India exported $6.16B to Japan. The main products that India exported to Japan are Refined Petroleum ($811M), Crustaceans ($356M), and Diamonds ($316M). During the last 26 years the exports of India to Japan have increased at an annualized rate of 3.25%, from $2.68B in 1995 to $6.16B in 2021.
Nifty 50 hit its record high on December 1, 2023, after 51 trade sessions. Ever since its last record high of 20,222.45 on September 15, 2023, the banking and IT sectors have been witnessing a considerable decline. The present record high comes in the backdrop of the underperformance of the top 5 Nifty heavyweights, three of which are banking and IT stocks.
India: World's Largest Producer of Mangoes 🥭:Mangoes are grown all over the world, yet the number of countries producing mango purée and/or juice for sale on global markets is quite small.India is by far the world's largest producer, producing around 20 million tonnes of mango annually. Ten years ago this figure was around 10-11 mln tonnes, but India has steadily increased its mango production.
India Iran Trade Soars: India's bilateral trade with Iran in 2022-23 was $2.33 billion. This was a 21.76% increase year-on-year. India's exports to Iran were $1.66 billion, which was a 14.34% increase year-on-year. India's imports from Iran were $672.12 million, which was a 45.05% increase year-on-year. .
Wooden Statues of Indian Idols demand Booms in western countries: The Bastar Nandi Statue is a majestic and imposing stone sculpture located in Bastar district in the Indian state of Chhattisgarh. This majestic stone sculpture is believed to be over 500 years old and is a revered symbol of the local tribal culture.It is believed that the statue was made by the local tribesmen to serve as a reminder of their faith and devotion to their deity. The statue stands out for its exquisite craftsmanship and intricate details.The Bastar Nandi Statue is a symbol of peace, harmony, and unity for the local people. It is often used as a marker for important events and ceremonies. It is also an important landmark for visitors and tourists from all over the world.
Bamboo Crafts and Arts from Bastar Chattisgarh trade Soars: Bastar art is a traditional tribal art form that originated in the Bastar district of Chhattisgarh, India. It is an ancient art form that has been practiced for centuries. Bastar art can be divided into four main categories: Woodwork, Bamboo art, Soil art, Metal arts. Bastar bamboo art has many symbolic meanings. For example, it has been said to represent the unity of all living things. Attractive furniture, mats, baskets, home utilities, office utilities are few of the pieces of work of Bastar tribes. The Bamboo craft is practiced in Narayanpur, Bastar, Bilaspur and Gariyabandh district of the State.
India's e-commerce exports likely to rise to $400 bn by 2030 : Indian exports have been impacted by a slowdown in global growth, especially in the advanced economies of the West. These countries are also seeing tightening of interest rates due to nagging inflation, leading to a slowdown in business and trade. Meanwhile, conflicts in Ukraine and Israel have push oil prices higher, leading to greater inflationary pressures.
Foreign Trade Policy for merchandise Exports: The FTP 2023 encourages recognition of new towns through “Towns of Export Excellence Scheme” and exporters through “Status Holder Scheme”. The FTP 2023 is facilitating exports by streamlining the popular Advance Authorization and EPCG schemes, and enabling merchanting trade from India.
