Exports Down 15% - $490b 19th Rank FY14, $403b 20th FY16
Dear Sant ji,
Tragedy of India is there are PAPPUS everywhere. Everyday GoI tells us that India’s Exports have CRASHED because of Recessionbut India lost Rank. Even BBC cook up such stories. Read the head lines and the last line --. China’s growth in Exports Share by 1.5% is actually $270b – More than India Commodity Exports $261b FY16.
China's exports and imports slow more than expected
‘China increased its share of world exports from 12.3% to 13.8% last year, meaning that its export sector remained competitive despite higher costs.’
In 2014 China exported $2.37T, making it the largest exporter in the world. During the last five years the exports of China have increased at an annualized rate of 11.8%, from $1.35T in 2009 to $2.37T in 2014.
It is OK for parties to have UNDER QUALIFIED Ministers at the time of SWEARING IN but after 24 months of poor show – All the PAPPUs ought to have been replaced. We Can’t Even Copy ASEAN Policies.
No Cabinet Minister of Maharashtra has desired Qualification & Experience to run India’s biggest state by GDP - 2nd Biggest in population. [Refer earlier report]
China’s Exports is more than GDP of India.
India ranked 19th in FY2014 now rank 20th FY2016 in Exports. But in per capita ranking just 110th along side Poorest African Countries in following.
103
|
Chad
|
267
|
2013 est.
|
104
|
Yemen
|
258
|
2013 est.
|
110
|
India
|
256
|
2014 est.
|
115
|
Cameroon
|
251
|
2013 est.
|
141
|
Sierra Leone
|
237
|
2013 est.
|
Lame Duck Exports Policy – No IPR & Agriculture Boost
Ø INDIA DIDN’T LET IN GLOBAL TRADERS, BRANDS TO OPERATE IN INDIA FREELY Like WALMART or NIKE or APPLE.
Ø INDIA DIDN’T LET FOREIGN CORPORATES TO TAKEOVER BAD PERFORMING INDIAN MANUFACTURING, SERVICES COMPANIES & PSUs.
Ø INDIA KILLED INDIAN IPR, DIDN’T PROTECT INVENTIONS.
Ø INDIA KILLED AGRICULTURE – INDIA COULD POTENTIALLY BECOME FOOD FACTORY OF THE WORLD, DIDN’T BUILD DAMS & CANAL IRRIGATION.
Ø INDIA DIDN’T LET FARMERS STORE, PROCESS, MARKET THEIR PRODUCE.
Ø INDIA DIDN’T ELIMINATE MIDDLEMEN IN EVERY TRANSACTION/BUSINESS.
Ø INDIA DIDN’T PROMOTED R&D STARTUPS – MIGRATED TO SMART NATIONS.
GOI LATEST LAMEDUCK RESPONSE: - 1] Diversification of export product basket, 2] Diversification into nontraditional markets, conclusion of ongoing FTA negotiations and initiation of new FTAs, 3] Strengthening export related infrastructure; thrust on SEZs, 4] Enhancing credit flows for exports at lower cost, 5] Reducing transaction costs, 6] Diversification of services exports, 7] Building up a brand image of India, 8] Support to the plantation sector, 9] Providing protection to sensitive domestic industries
2. The vision is to make India a significant participant in world trade by the year 2020 and to enable the country to assume a position of leadership in the international trade discourse. Government aims to increase India's exports of merchandise and services fromUSD 465.9 billion in 2013-14 to approximately USD 900 billion by 2019-20 and to raise India's share in world exports from 2 percent to 3.5 percent.
The long-term vision of the Department of Commerce is to make India a major player in the world trade by 2020 and assume a role of leadership in international trade organizations commensurate with India’s growing importance. DoC’s goal is to work in close coordination with stakeholders and provide an enabling framework to help increase India’s exports of merchandise and services from the present level of US$ 403.38 billion (2015-16) to approximately US$ 900 billion by 2019-20.
15. According to the WTO, in merchandise trade, India was the 19th largest exporter in the world with a share of 1.7 percent and the 12th largest importer with a share of 2.5 percent in 2013. In commercial services, India was the 6th largest exporter in the world with a share of 3.2 percent and the 9th largest importer with a share of 2.8 percent.
SERVICES: As per RBI’s Press Release dated 13 th May 2016, the trade balance in Services (i.e. net export of Services) for March, 2016 was estimated at US$ 4990 million. The net export of services for April-March, 2015-16 was estimated at US$ 69590.21 million which is lower than net export of services of US$ 76587.55 million during April- March, 2014-15. (The data for April- March 2015-16 has been derived by adding April-December 2015-16 with month wise QE data of RBI Press Release dated 13th May 2016).
OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-March, 2015-16 was estimated at US$ 48,869.16 million which is 20.03 percent lower in Dollar terms than the level of US$ 61,107.40 million during April – March 2014-15.
Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, New Delhi-110016, India. Ph; 091- 9871056471, 9718280435, 9650421857
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