Tuesday 22 November 2016

Trade with Neighbouring Countries

The details of total trade of India with the neighbouring countries, including Nepal, during the last three years and the current year (up to August, 2016) are given below:
Value in US$ Million
S.No.
Country
2013-2014
2014-2015
2015-2016
2016-17(Apr-Aug)
Exports
Imports
Exports
Imports
Exports
Imports
Exports
Imports
1
AFGHANISTAN TIS
474.34
208.77
422.56
261.91
526.6
307.9
208.95
73.01
2
BANGLADESH PR
6,166.97
484.34
6,451.48
621.37
6,034.95
727.15
2,294.32
308.74
3
BHUTAN
355.6
152.17
333.94
149.87
468.95
281.27
216.7
62.18
4
MALDIVES
106.07
3.97
152.38
4.32
179.04
4.29
72.85
4.7
5
NEPAL
3,592.30
529.93
4,558.77
639.91
3,930.09
470.59
1,983.70
173.25
6
PAKISTAN IR
2,274.30
426.88
1,857.29
497.31
2,171.16
441.03
633.34
187.56
7
SRI LANKA DSR
4,534.35
666.93
6,703.72
756.17
5,309.53
742.79
1,536.13
234.39

Total
17,503.92
2,472.98
20,480.14
2,930.85
18,620.32
2,975.01
6945.99
1043.83









Source: DGCI&S Database

The Government continues to engage proactively with SAARC countries, including Nepal, to strengthen trade and economic relations. Issues impacting bilateral trade, raised by these countries, are taken up for an early resolution. Bilateral and multilateral trade discussions are held with these countries from time to time to explore mechanisms for enhancement of cross border trade.

            Issues relating to improvement of trade infrastructure in the form of upgradation of Land Customs Stations are also coordinated.

            Further, assistance is provided under Market Access Initiative(MAI) and Market Development Assistance(MDA) schemes to Indian exporters, Export Promotion Councils, Apex Trade Bodies etc. for participation in events in foreign countries, including Nepal.
            The share of India’s exports to the SAARC countries vis-a-vis India’s total exports has increased from 5.57% in 2013-14 to6.42% in 2016-17(April-August) and the share of India’s imports from the SAARC countries vis-a-vis India’s total imports has increased from 0.55% in 2013-14 to 0.73% in 2016-17 (April-August), thereby strengthening India’s gains from trade.
This information was given by the Commerce and Industry Minister  Smt. Nirmala Sitharaman in a written reply in Lok Sabha


Courtesy: pib.nic.in

No comments:

Extension of Emergency Credit Line Guarantee Scheme through ECLGS 2.0 for the 26 sectors identified by the Kamath Committee and the healthcare sector

Extension of the duration of Emergency Credit Line Guarantee Scheme (ECLGS) 1.0 The Government has extended Emergency Credit Line Guarantee ...