[Tree] Indian textile exports, Global economic challenges, Manufacturing sector, Indian economy, India-UK trade relations
Version 0.4 (2024-06-16 18:57:07.188000)
updates: India's textile exports grew by 9.59% in May 2024 compared to the same month last year. The United Kingdom has overtaken China to become India's fourth-largest export market in May.
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Version 0.39 (2024-06-16 07:55:26.539000)
updates: Indian textile exports grew by 9.59% in May 2024. Apparel exports also increased by 9.84% during the same period. The cumulative exports of textiles and apparel during May 2024 registered a growth of 9.70% over May last year. Indian textile exports grew by 6.04% during April-May 2024 compared to the previous year, while apparel exports increased by 4.46% during the same period. The growth in exports was led by sectors such as electronic goods, pharmaceuticals, organic and inorganic chemicals, engineering goods, and petroleum products. India's overall merchandise exports jumped by 9.1% to $38.13 billion, while service exports climbed by 11.7% to $30.16 billion. The Federation of Indian Export Organisations President Ashwani Kumar attributed the positive trajectory in May 2024 to robust order bookings. The Ministry of Finance report indicates that the growth momentum will continue in the current April-June quarter of 2024-25. The report also mentions that the EXIM Bank of India has forecasted double-digit growth in merchandise exports for the first quarter of FY25. India aims to double its export market share and achieve $1 trillion in merchandise exports by 2027-28. Prashant Jain, founder and CIO of 3P Investment Managers, discusses the favorable environment for manufacturing growth in India and expresses optimism about the country's manufacturing prospects. He also provides advice for retail investors [be94110c, 26c4f5c9, e7ca8fc6, fecdfcd2, 0e508e34]
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Version 0.38 (2024-06-15 14:55:27.915000)
updates: Indian textile exports grew by 9.59% in May 2024 compared to the previous year. Indian apparel exports also saw a growth of 9.84% during the same period. The cumulative exports of textiles and apparel during May 2024 registered a growth of 9.70% over May last year. The country's overall exports for May 2024 surged to USD 68.29 billion, a year-on-year increase of 10.2%
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Version 0.37 (2024-06-15 13:54:43.067000)
updates: Indian textile exports grew by 9.59% in May 2024 compared to the previous year. Cumulative exports of textiles and apparel during April-May 2024 saw a surge of 5.34% compared to the same period last year. Overall exports for May 2024 surged to $68.29 billion, a year-on-year increase of 10.2%. Sectors such as electronic goods, drugs and pharmaceuticals, engineering goods, and petroleum products performed well in exports.
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Version 0.36 (2024-06-15 10:58:51.865000)
updates: Indian textile exports surged by 9.59% in May
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Version 0.35 (2024-06-14 22:54:19.026000)
updates: India's exports jump 9% YoY in May, trade deficit at 7-month high
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Version 0.34 (2024-06-11 22:57:26.805000)
updates: Inclusion of Prashant Jain's perspective on India's manufacturing prospects
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Version 0.33 (2024-06-10 04:53:12.943000)
updates: New information on India's manufacturing sector poised for global demand revival
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Version 0.32 (2024-05-26 08:56:21.954000)
updates: The Ministry of Finance expects stronger external support for domestic manufacturing
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Version 0.31 (2024-05-25 23:54:12.300000)
updates: The Finance Ministry is banking on stronger external support for domestic manufacturing in the upcoming months and greater focus by an increasing number of organisations in the US and Europe on enhancing supply chain resilience to benefit India’s manufacturing firms as part of the China Plus One strategy. The ministry expresses optimism over the Indian economy closing FY24 strongly with its growth surpassing market expectations. Early indications and emerging robust trends in important high-frequency indicators of growth suggest a continuation of the economic momentum during the first quarter of FY25. The GST collection recorded a 12.4% year-on-year growth driven by strong increase in domestic transactions of 13.4% and imports of 8.3%, jumping to a high of Rs 2.1 lakh crore in April 2024. India’s transportation sector has seen a significant increase in activity recently, with a 15% increase in domestic air passengers in March 2024, rail freight traffic also increased by 4.9% year-on-year, vehicle registration went up by 27% year-on-year to 2.2 million in April 2024, and fuel usage in April 2024 increased by 6.1% year-on-year, totalling over 19.9 million tonnes. Fixed investment is gathering pace on the back of the focus of the Government on capital spending and the resultant crowing in of private investment. Consumption is being propelled by consistent growth in urban demand and a resurgence in rural demand. Despite global challenges, India’s foreign exchange reserves are comfortable, and the Indian rupee has been one of the most resilient vis-à-vis the US dollar in recent months. India witnessed a net outflow of foreign portfolio investments of USD 1.8 billion in April 2024. The rupee depreciated marginally by 0.11% between 1 April 2024 and 15 May 2024. The Finance Ministry expects the macro-economic buffers nurtured and strengthened during the post-Covid management of the economy to help the Indian economy navigate these challenges reasonably smoothly.
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Version 0.3 (2024-05-25 07:54:22.744000)
updates: The Ministry of Finance report highlights positive indications in the farm sector and the stabilization of food prices. The ministry's monthly economic review emphasizes India's economic resilience, with a projected GDP growth of at least 7.6% in FY24. The review predicts that the harvest for the Rabi Marketing Season for FY25 will temper the prices of agricultural produce like wheat and chana, along with the prediction of a normal Southwest Monsoon, which will benefit food production and ease price pressures. Retail inflation eased slightly in April, but food inflation remains elevated.
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Version 0.29 (2024-05-25 07:52:41.842000)
updates: Integration of additional information about the Finance Ministry report and its findings
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Version 0.28 (2024-05-25 06:53:19.975000)
updates: Updated information on India's growth momentum and high-frequency indicators
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Version 0.27 (2024-05-25 03:54:03.366000)
updates: Updated with specific high-frequency indicators and forecasted merchandise exports growth in Q1 FY25
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Version 0.26 (2024-05-24 23:53:51.429000)
updates: Updates on high-frequency indicators and export forecast
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Version 0.25 (2024-05-24 17:59:16.559000)
updates: Updated information on macroeconomic buffers and growth momentum
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Version 0.24 (2024-05-24 16:57:15.156000)
updates: The Ministry of Finance highlights the 'China Plus One' strategy for Indian manufacturing firms. The Finance Ministry emphasizes the farm sector's rebound and its protection against volatile oil prices. The ministry expresses optimism about stronger external support for domestic manufacturing and increased exports. The RBI forecasts a 4.9% retail inflation for the first quarter of FY25 [963c4cf5].
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Version 0.23 (2024-05-24 15:53:46.130000)
updates: Updated information on macroeconomic buffers and positive indicators
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Version 0.22 (2024-05-24 13:56:56.743000)
updates: Integration of information about strong macroeconomic buffers and positive indicators from a finance ministry report
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Version 0.21 (2024-05-24 12:59:12.259000)
updates: Updates on India's economic momentum and export boost
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Version 0.2 (2024-05-23 05:57:15.228000)
updates: Includes positive growth forecasts from IMF, ADB, OECD, and World Bank
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Version 0.19 (2024-05-21 02:53:08.172000)
updates: Fund manager predicts strong earnings growth of 13-15% in FY25/FY26
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Version 0.19 (2024-05-21 02:53:08.172000)
updates: Fund manager predicts strong earnings growth of 13-15% in FY25/FY26
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Version 0.19 (2024-05-21 02:53:08.172000)
updates: Fund manager predicts strong earnings growth of 13-15% in FY25/FY26
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Version 0.18 (2024-05-08 12:53:24.309000)
updates: CEA Anantha Nageswaran's optimistic growth outlook for India
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Version 0.18 (2024-05-08 12:53:24.309000)
updates: CEA Anantha Nageswaran's optimistic growth outlook for India
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Version 0.18 (2024-05-08 12:53:24.309000)
updates: CEA Anantha Nageswaran's optimistic growth outlook for India
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Version 0.18 (2024-05-08 12:53:24.309000)
updates: CEA Anantha Nageswaran's optimistic growth outlook for India
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Version 0.17 (2024-05-04 03:56:05.429000)
updates: Discussion on the risks of credit expansion and financial stability in India
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Version 0.16 (2024-04-13 06:22:08.130000)
updates: Updates on India's GDP growth forecast and challenges
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Version 0.15 (2024-04-13 03:21:13.071000)
updates: Asian Development Bank raises India's growth forecast to 7%
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Version 0.14 (2024-04-12 04:27:57.239000)
updates: New information about the Chinese economy's growth forecast for 2024 by the Asian Development Bank
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Version 0.13 (2024-04-11 05:21:18.378000)
updates: Asian Development Bank raises India's GDP growth forecast for FY25 to 7%
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Version 0.11 (2024-04-03 08:22:20.442000)
updates: The World Bank forecasts 7.5% growth for the Indian economy in 2024
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Version 0.1 (2024-03-27 06:23:00.958000)
updates: Morgan Stanley raises India's GDP growth expectation for FY25 to 6.8%
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Version 0.09 (2024-03-27 00:24:20.109000)
updates: S&P Global raises India's growth forecast for FY25 to 6.8%
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Version 0.08 (2024-03-26 07:19:20.276000)
updates: S&P Global Ratings further increases growth forecast for India to 6.8% for FY25
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Version 0.07 (2024-03-26 06:19:05.475000)
updates: S&P Global raises India's GDP growth forecast for FY25 to 6.8%
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Version 0.06 (2024-03-26 05:21:34.151000)
updates: S&P Global raises India's GDP forecast for FY25 to 6.8%
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Version 0.05 (2024-02-05 10:33:51.924000)
updates: Add information about Indian bank credit in FY25
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Version 0.02 (2023-11-24 14:48:12.579000)
updates: Analysis of India's growth in FY24, challenges, and policy measures
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Version 0.01 (2023-11-24 02:10:01.856000)
updates: Updated information on India's economic growth outlook and challenges in Q2 FY24
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