India’s trade deficit normalises to pre-Covid levels: Report

    5

    New Delhi, March 21 | Positive annualised growth in exports and imports for three straight months has taken India’s trade deficit figures to pre-Covid levels, Acuite Ratings & Research said.

    In its report on the February Trade Balance, the ratings agency said that bulk of normalisation is likely to have been driven by the sharp increase in global commodity prices, especially in the last 4-5 months.

    “Going forward, as activity levels pick up further, the widening of India’s trade deficit would get reinforced,” it said.

    India’s merchandise trade deficit has eased to $12.6 billion in February 2021 from $14.5 billion in January but printed higher than $10.2 billion posted during the corresponding period of last year.

    “The sequential moderation in merchandise trade deficit in Feb-21 was accompanied by a marginal increase in exports along with a marginal decline in imports vis-a-vis the previous month,”.

    “This appears to be in line with the usual seasonal trend.”

    Earlier, official data showed a rise in India’s February merchandise exports to $27.93 billion from $27.45 billion in January and $27.74 billion reported for the corresponding period of 2020.

    “This happens to be a 21-month high print on outbound shipments.”

    In terms of imports, India’s inbound shipments in February 2021 increased by 6.96 per cent to $40.54 billion from $37.90 billion during the corresponding period of 2020.

    On a sequential basis, they stood lower than January’s import bill of $41.99 billion.

    “The relatively higher growth in imports in the last 3-months also signals that incrementally India’s domestic demand is on the path of recovery, with support from favorable statistical base effect and accommodative monetary and fiscal policies.”

    In the near term, the report cited some minor disruption to external trade can be expected on account of the fresh wave in Covid infections, globally as well as in India.

    On a sequential basis, they stood lower than January’s import bill of $41.99 billion.

    “The relatively higher growth in imports in the last 3-months also signals that incrementally India’s domestic demand is on the path of recovery, with support from favourable statistical base effect and accommodative monetary and fiscal policies.”

    In the near term, the report cited some minor disruption to external trade can be expected on account of the fresh wave in Covid infections, globally as well as in India.

    “However, the impact is likely to be limited as the same could get offset with ongoing rapid progress in vaccination in several countries — in just about 3 months, nearly 2.8 per cent of the world population has received at least one dose of Covid vaccine.”

    Source: IANS

    Next Story

    PURPOSE FUELS YOUR PASSION: MUNISH MAYA

    PURPOSE FUELS YOUR PASSION: MUNISH MAYA

    Don’t get confused with your purpose and passion as both go well together

    Passion as well as purpose both goes hand in hand. Purpose defines the passion in life. If you are passionate about something then there will be a purpose behind it. And if you feel that you are passionate about something but you are not able to find the purpose behind it then please do self-analysis. There is surely something that you are missing out on. Munish Maya in his Instagram post took out few minutes to write about Purpose and Passion, as he feels that it is an important topic to be discussed with everyone. Mr. Maya started writing his post by making a statement, “Many people confuse passion with purpose. Others struggle to find both.”

    Self-analyzing is a very tough job and it’s completely natural to get confused. Solving this problem Munish Maya says, “Passion & purpose are distinct. Passion is the drive, the energy that makes us feel good. Like they say, ‘do what you love.” People follow their passion to live a stress-free life where they can enjoy whatever the work they are doing. It is well said, ‘Follow your passion and there will not be a single day when you will have to work.’ Whereas the most asked question in relevance to passion, ‘What is the purpose?’ is answered very well by Munish

    Maya in his same post, “Your purpose is the reason, your ‘Why’ behind what you do.” 

    Passion and purpose go hand in hand. Munish Maya says, “From over a decade, I experienced, learned, evolved & developed new passions. They have changed my life & perspective in a great way.” Passion serves the purpose of life. Munish Maya himself followed his passion when he realized that he cannot do a 9-5 profile job, and look at him now, he is the 1st Global Brand Ambassador of India. His passion leads him to define the purpose of his life. The only purpose of Munish Maya’s life is to serve people by guiding and enlightening them about their lives.

    This confusion between passion and purpose is not for the lifetime. To which Munish Maya explained by saying, “But the sweet spot is where your passion & purpose align.

    One fuels your internal drive while the other maximizes your outward impact.” When both purpose and passion start to align then you will start gaining success and positivity in life.

    Munish Maya describes it more beautifully, “And in the path of manifestation, Purpose fuels Passion. By focusing on your purpose, you align your work with your deepest drive- your passion.” If you are passionate about something in your life, then the purpose of your life is served.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here