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Combined Index of Eight Core Industries increases by 8.9 per cent

 

The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade is releasing the Index of Eight Core Industries (ICI) for the Month of June 2021.

ICI measures combined and individual performance of production in selected eight core industries viz. Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. 

The combined Index of Eight Core Industries stood at 126.6 in June 2021, which increased by 8.9 per cent (provisional) as compared to the Index of June 2020. The production of Coal, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity industries increased in June 2021 over the corresponding period of last year.

The final growth rate of the Index of Eight Core Industries for March 2021 is revised to 12.6 per cent from its provisional level 6.8 per cent. The growth rate of ICI during April-June 2021-22 was 25.3 per cent (P) as compared to the corresponding period of last Financial Year.

The summary of the Index of Eight Core Industries is given below:

Coal – Coal production (weight: 10.33 per cent) increased by 7.4 per cent in June 2021 over June 2020. Its cumulative index increased by 8.0 per cent from April to June 2021-22 over the corresponding period of the previous year.

Crude Oil – Crude Oil production (weight: 8.98 per cent) declined by 1.8 per cent in June 2021 over June 2020. Its cumulative index declined by 3.4 per cent during April to June 2021-22 over the corresponding period of the previous year.

Natural Gas - Natural Gas production (weight: 6.88 per cent) increased by 20.6 per cent in June 2021 over June 2020. Its cumulative index increased by 21.8 per cent from April to June 2021-22 over the corresponding period of the previous year.

Petroleum Refinery Products – Petroleum Refinery production (weight: 28.04 per cent) increased by 2.4 per cent in June 2021 over June 2020. Its cumulative index increased by 15.4 per cent from April to June 2021-22 over the corresponding period of the previous year.

Fertilizers – Fertilizers production (weight: 2.63 per cent) increased by 2.0 per cent in June 2021 over June 2020. Its cumulative index decreased by 1.7 per cent during April to June 2021-22 over the corresponding period of the previous year.

Steel – Steel production (weight: 17.92 per cent) increased by 25.0 per cent in June 2021 over June 2020. Its cumulative index increased by 86.0 per cent from April to June 2021-22 over the corresponding period of the previous year.

Cement – Cement production (weight: 5.37 per cent) increased by 4.3 per cent in June 2021 over June 2020. Its cumulative index increased by 52.9 per cent during April to June 2021-22 over the corresponding period of the previous year.

Electricity – Electricity generation (weight: 19.85 per cent) increased by 7.2 per cent in June 2021 over June 2020. Its cumulative index increased by 16.4 per cent during April to June 2021-22 over the corresponding period of the previous year.

#MinistryofCommerceandIndustry
30-July-2021
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eSANTA rolled out to connect aqua farmers and buyers

 

Union Commerce and Industry Minister Piyush Goyal today virtually inaugurated e-SANTA, an electronic marketplace providing a platform to connect aqua farmers and buyers.

The electronic platform will enable the farmers to get a better price and the exporters to directly purchase quality products from the farmers enhancing traceability, a key factor in international trade. The term e-SANTA means Electronic Solution for Augmenting NaCSA farmers' Trade in Aquaculture. National Centre for Sustainable Aquaculture (NaCSA) is an extension arm of Marine Products Export Development Authority (MPEDA), Govt. of India, Ministry of Commerce & Industry.

Speaking on the occasion, Mr Goyal said that e-SANTA will raise income, lifestyle, self-reliance, quality levels, traceability, and provide new options for our aqua farmers. He said that the platform will change the traditional way of carrying out business from a word of mouth basis to become more formalised and legally binding. He said that e-SANTA will RAISE the lives and income of farmers by:

  • Reducing Risk
  • Awareness of Products & Markets
  • Increase in Income
  • Shielding Against Wrong Practice
  • Ease of Processes
  •  
  • e-SANTA is a completely paperless and end-to-end electronic trade platform between Farmers and exporters. The farmers have the freedom to list their produce and quote their price while the exporters have the freedom to list their requirements and also to choose the products based on their requirements such as desired size, location, harvest dates etc. This enables the farmers and buyers to have greater control over the trade and enables them to make informed decisions. 

#PiyushGoyal #MinistryofCommerceandIndustry
13-April-2021
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India attracts highest ever FDI inflow of USD 72.12 billion during April to January 2021

 

India has attracted a total FDI inflow of USD 72.12 billion during April to January 2021. It is the highest ever for the first ten months of a financial year and 15 per cent higher as compared to the first ten months of 2019-20 (USD 62.72 billion), a statement issued by the Ministry of Commerce and Industry stated.

Further details:-

  1. The trends show that the FDI equity inflow grew by 28 per cent in the first ten months of F.Y. 2020-21 (USD 54.18 billion) compared to the corresponding period a year ago (USD 42.34 billion).
  2. In terms of top investor countries, 'Singapore' is at the apex with 30.28 per cent of the total FDI Equity inflow followed by the U.S.A (24.28 per cent) and UAE (7.31 per cent) for the first ten months of the current financial year 2020-21.
  3. Japan has been leading the list of investor countries to invest in India with 29.09 per cent of the total FDI Equity inflows during January 2021, followed by Singapore (25.46 per cent) and the U.S.A. (12.06 per cent).
  4. Computer Software and Hardware has emerged as the top sector during the first ten months of F.Y. 2020-21 with 45.81 per cent of the total FDI Equity inflow.
  5. The Construction (Infrastructure) Activities and Services Sector follow with 13.37 per cent and 7.80 per cent inflows respectively.
  6. According to the trends shown during the month of January 2021, the consultancy services emerged as the top sector with 21.80 per cent of the total FDI Equity inflow followed by Computer Software & Hardware (15.96 per cent) and Service Sector (13.64 per cent).
  7. These trends in India's Foreign Direct Investment are an endorsement of its status as a preferred investment destination amongst global investors, the Ministry's statement said.

#MinistryofCommerceandIndustry
05-April-2021
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Handicraft, GI Toys exempted from Quality Control Order

 

Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has devised a comprehensive action plan with steps being taken to boost production and sale of indigenous toys across the country. 

Quality Control order has been issued by the Department for standardization and quality adherence of Toys. The order will come into effect from 1st January, 2021.  

This order aims to bring forward the synergized efforts of the GoI, states and the stakeholders to promote 'Team up for toys' vision keeping quality standards of the indigenous toys as the priority.

Now, as a part of the initiatives being taken to provide impetus to the medium, small and micro toy production units in the country, DPIIT has released Toys (Quality Control) Second Amendment Order, 2020. 

It exempts goods manufactured and sold by artisans registered with Development Commissioner (Handicrafts), from use of Standard Mark under licence from Bureau of Indian Standards, as per Scheme1 of Schedule-II of BIS (Conformity Assessment) Regulations, 2018.

The Amendment Order 2020, also exempts products registered as Geographical Indications from following Indian Toy Standards & compulsory use of Standard Mark licence from Bureau as per Scheme 1 of Schedule-II of BIS (CA) Regulations,2018. 

The Gazette notification issued by the department says that "nothing in this Order shall apply to goods or articles manufactured and sold by Registered proprietor and Authorised user of a product registered as Geographical Indication by the Registrar of Geographical Indications, Office of Controller General of Patents, Designs and Trademarks (CGPDTM)."

#MinistryofCommerceandIndustry #Toys
12-December-2020

India's Merchandise trade data for October 2020

India's merchandise exports in October 2020 were USD 24.82 billion, as compared to USD 26.23 billion in October 2019, showing a fall of 5.4%, a release issued today by the Ministry of Commerce and Industry stated.

Exports during April-October 2020-21 were USD 150.07 billion, exhibiting a decline of 19.05 per cent over the same period last year.

The value of India's merchandise imports in October 2020 was USD 33.6 billion, as compared to USD 37.99 billion in October 2019, a decline of 11.56 per cent. Merchandise imports during April-October 2020-21 were USD 182.29 billion, as compared to USD 286.07 billion during the same period last year, exhibiting a negative growth of 36.28 per cent.

India was thus a net importer in October 2020, with a trade deficit of USD 8.78 billion, as compared to a trade deficit of USD 11.76 billion, an improvement by 25.34 per cent.

The details with respect to the products imported and exported are as below: 

  1. In October 2020, the value of non-petroleum exports was USD 23.21 billion, registering a positive growth of 1.84% over October 2019.
  2. The value of non-petroleum and non-gems and jewellery exports in October 2020 was USD 20.28 billion, as compared to USD 19.07 billion in October 2019, registering a positive growth of 6.34%.
  3. The cumulative value of non-petroleum and non-gems and jewellery exports in April-October 2020-21 was USD 124.79 billion, as compared to USD 137.72 billion for the corresponding period in 2019-20, exhibiting a decrease of 9.39%.
  4. In October 2020, Oil imports were USD 5.98 billion, as compared to USD 9.73 billion in October 2019, a decline of 38.52%. Oil imports in April-October 2020-21 were USD 37.84 billion, as compared to USD 74.93 billion, showing a decline of 49.5%.
  5. Non-oil imports in October 2020 were estimated at USD 27.62 billion, as compared to USD 28.26 billion in October 2019, showing a decline of 2.26%. Non-oil imports in April-October 2020-21 were USD 144.45 billion, as compared to USD 211.14 billion, registering a decline of 31.59% during the same period of the last year.
  6. Non-oil, non-GJ (gold, silver & Precious metals) imports were USD 22.83 billion in October 2020, recording a negative growth of 8.31%, as compared to non-oil and non-gold imports of USD 24.9 billion in October 2019. Non-oil and non-gold imports were USD 126.97 billion in April-October 2020-21, recording a negative growth of 29.28%, as compared to non-oil and non-gold imports of USD 179.55 billion in April-October 2019-20.

Major commodities of export which have recorded positive growth during October 2020 vis-à-vis October 2019 are Other cereals (369.30%), Rice (112.15%), Oil meals (76.62%), Iron ore (73.89%), Oilseeds (54.06%), Carpet (37.67%), Cereal preparations and the miscellaneous processed item (36.13%), Ceramic products and glassware (34.62%), Drugs and pharmaceuticals (21.82%), Spices (21.61%), Jute mfg. Including floor covering (18.76%), Meat, dairy and poultry products (16.65%), Handicrafts excl. Handmade carpet (11.37%), Fruits and vegetables (8.92%), Mica, coal and other ores, minerals including process (7.68%), Cotton yarn/fabrics/made-ups, handloom products etc. (6.52%), RMG of all textiles (6.31%), Tobacco (4.34%), Organic and inorganic chemicals (1.91%), Tea (0.14%).

Major commodities of export which have recorded negative growth during October 2020 vis-à-vis October 2019 are Petroleum products (53.30%), Cashew (21.57%), Gems and jewellery (21.27%), Leather and leather manufactures (16.69%), Man-made yarn/fabrics/made-ups etc. (12.82%), Electronic goods (9.40%), Coffee (9.25%), Marine products (8.09%), Plastic and linoleum (6.88%), Engineering goods (3.84%).

Major commodity groups of import showing positive growth in October 2020 over the corresponding month of last year are Pearls, precious & Semi-precious stones (50.47%), Fertilizers, Crude & manufactured (46.25%), Gold (35.88%), Sulphur & Unroasted Iron Pyrites (32.09%), Project goods (28.75%), Fruits & vegetables (22.81%), Electronic goods (16.12%), Medcnl. & Pharmaceutical products (13.33%), Vegetable Oil (7.29%), Metaliferrous ores & other minerals (4.80%), Chemical material & products (2.00%.

Major commodity groups of import showing negative growth in October 2020 over the corresponding month of last year are Silver (90.54%), Newsprint (79.99%), Cotton Raw & Waste (77.40%), Pulses (65.15%), Transport equipment (56.32%), Leather & leather products (41.37%), Petroleum, Crude & products (38.52%), Pulp and Waste paper (29.88%), Machine tools (29.62%), Wood & Wood products (26.51%), Textile yarn Fabric, made-up articles (25.13%), Iron & Steel (22.32%), Machinery, electrical & non-electrical (15.63%), Professional instrument, Optical goods, etc. (11.95%), Artificial resins, plastic materials, etc. (7.53%), Coal, Coke & Briquettes, etc. (6.50%), Organic & Inorganic Chemicals (2.89%), Non-ferrous metals (2.26%), Dyeing/tanning/colouring materials (0.46%).

#MinistryofCommerceandIndustry #Exports #Imports
03-November-2020