- FDI Inflows in the country
India’s total foreign direct investment (FDI) inflow rose by 62 per cent to USD 27.4 billion during April-July 2021 as compared to USD 16.9 billion during April-July 2020
A stable government, strong economic growth, robust domestic demand, economic reforms and a young workforce are just some of the reasons that FDI investments are growing in India.
- E-Way Bills
Daily e-way bill generation for goods transportation under the Goods and Services Tax (GST) system was up by 10.4 per cent at 2.2 million for the week ended 19 September 2021
This surge in generation reflects a pick-up in economic activity ahead of the festival season. The E-way bills have a direct link with the GST collections and serve as a good leading indicator of the GST collections
- Kharif food grain
Record production is pegged in rice, sugarcane and cotton. However, production of coarse cereals and oilseeds is estimated to be lower marginally during the kharif season of this year.
Record production will help in keeping the food inflation under check while lowering the pressure on the overall consumer inflation.
- Palm oil to hold down the food inflation
India’s palm oil imports in 2021/22 are likely to drop 9% from a year earlier on a rise in domestic supplies, as farmers expand the area planted with oilseeds in response to record high prices
India has been one of the biggest importers of palm oil from Malaysia and a drop in imports can impact the palm oil prices there. Palm oil imports in the last year stood at 8.35 million tonnes which can fall to 7.6 million tonnes in the next year
- India UAE plan to increase bilateral trade
India and UAE plan to conclude CEPA by the end of the year with the aim to lift trade between the two countries by 70% in five years
India’s major exports to the UAE include precious metals, stones, gems, food items, engineering and machinery products and chemicals. These sectors can get a big boost once the free trade agreement comes into consideration
