Market Pulse News

Market Pulse

Date Heading Details
20-Oct-2021   09:00 Hrs IST India's services exports likely to reach over $240 billion during 2021-22: SEPC <p align="justify">With healthy performance by segments such as professional and management consulting services, audio visual, freight transport services, and telecommunications, Services Export Promotion Council (SEPC) has said that India's services exports are expected to reach over $240 billion during 2021-22. It is also seeking incentives from the government. SEPC Chairman Maneck Davar said that during the first five months of the current fiscal year, exports from the sector increased 14 per cent to $95 billion. He noted that services exports may increase even further when the tourism sector is opened up later in the year.</p><p align="justify">In 2020-21, services exports dipped by three per cent to $206 billion. He added that the recovery of the service sector is largely based on the performance of sectors such as professional and management consulting services, audio visual and related services, freight transport services, telecommunications, computer and information services. He also said the target of $1 trillion services exports by 2030 set by the government is feasible but there is a need to look at sectors other than IT and ITeS for growth. The need of the hour is to provide a level-playing field with manufacturing and incentives to tide over the pandemic.</p><p align="justify">Davar said ‘Unless the government focuses on the sector in the forthcoming Foreign Trade Policy (FTP) by announcing scheme-based export incentives and provides interim relief by continuing with the existing schemes in the short run, the sector will lose the momentum it has gained in the first five months of 2021-22'. He added that services exports to an extent grow in line with merchandise exports as many services work as a facilitator for goods exports, such as transport and logistics services, distribution services, banking and insurance services, and aviation.<br></p>
19-Oct-2021   09:00 Hrs IST Centre infuses Rs 1,31,000 crore to boost agriculture and allied sectors: Shobha Karandlaje <p align="justify">In order to boost agriculture and allied sectors, Union Minister Shobha Karandlaje said that the Centre has infused Rs 1,31,000 crore with special emphasis on becoming an export-oriented economy as India has tremendous potential to satiate global demand. Karandlaje e-inaugurated various projects of the public works department, costing Rs 519.50 lakh and laid e-foundation stones of different projects worth Rs 198.2 lakh. She also inaugurated a pasteurised compost unit under the Trikuta mushroom corridor project at Burmal.</p><p align="justify">The Union minister of state for agriculture and farmers welfare said the Centre under the leadership of Prime Minister Narendra Modi is keen to uplift the agriculture community by providing financial as well as technological support under various schemes run by the central government. While highlighting the achievements of India in the agriculture sector, she said that India is making remarkable progress in this field which has further improved its ranking in terms of exporting agriculture-based products. She added India now stands at the ninth position globally.</p><p align="justify">Projecting the recent stride made by India in agriculture production, the minister said the agriculture sector is now contributing over 20 per cent in India's GDP which is expected to grow further. She said that for smooth functioning of farmer producer organisation (FPO), a separate corpus will be created through which the staff appointed shall be remunerated besides provision of low interest rate soft loans and subsidies shall be made. The minister emphasised on the need for technological interventions like mechanised farming, branding, marketing, processing, value addition to farm products etc so that farmers could get remunerative prices for their produce.<br></p>
18-Oct-2021   09:01 Hrs IST Indian economy bouncing back strongly: Minister of State for External Affairs
14-Oct-2021   09:03 Hrs IST India needs to focus on public investment in green sectors post-pandemic: IMF
13-Oct-2021   09:20 Hrs IST India's economy likely to grow by 9.5% in 2021, 8.5% in 2022: IMF
12-Oct-2021   09:13 Hrs IST Indian economy poised to achieve 10.25% GDP growth in FY 2021-22: PHDCCI
11-Oct-2021   09:04 Hrs IST India's economy likely to grow by 8.3% in fiscal year 2021-22: World Bank
08-Oct-2021   09:14 Hrs IST India's GDP likey to grow at 9.1% in 2021-22: FICCI
07-Oct-2021   09:16 Hrs IST Moody's likely to upgrade India's rating if growth potential rises, debt declines
06-Oct-2021   09:02 Hrs IST Moody's upgrades India's outlook to ‘stable' from ‘negative'