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WHY PM MODI’S CALL TO SAVE FOREX COULD SLOW DOWN INDIA’S GROWTH Why in the News? Prime Minister Narendra Modi recently urged citizens to conserve foreign exchange reserves by reducing non-essential imports. He appealed to people to avoid purchasing gold for a year, as gold imports significantly increase India’s forex outflow. The Prime Minister also …
Read MoreGovernment Launches Market Access Support for Export Growth Why in the News? The Government of India has launched the Market Access Support (MAS) scheme under the ₹25,060 crore Export Promotion Mission (EPM) to provide structured financial and institutional assistance to exporters, especially MSMEs, for expanding India’s footprint in global markets. Market Access Support Scheme: Key …
Read MoreWhy in the news? India experienced a trade deficit in 2023-24 with nine of its top 10 trading partners, including China, Russia, and Singapore, among others, according to official data. The deficit widened with China, Russia, Korea, and Hong Kong compared to the previous fiscal year, while it narrowed with the UAE, Saudi Arabia, Indonesia, …
Read MoreSyllabus: GS-3– Import , export and related issues and solutions . Role of WTO Focus: The focus of the article is to analyze India’s merchandise export performance amidst global trade dynamics, including the impact of the COVID-19 pandemic and geopolitical conflicts. It examines the trends, challenges, and prospects of India’s exports, highlighting sector-wise performance, regional …
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