New Delhi, June 1 (IANS) The gross Goods and Services Tax (GST) collections rose 3.2 per cent year-on-year to around Rs 2 lakh crore in May, despite geopolitical tensions in West Asia, according to government data released on Monday.As per data, gross GST revenue stood at Rs 1,94,184 crore in May, compared to Rs 1,88,172 crore in the same month last year. Meanwhile, net GST collections reached Rs 1,66,904 crore, a growth of 3.3 per cent over the corresponding period last year.Total refunds durin…
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Seoul, June 1 (IANS) South Korea’s exports surged 53 per cent from a year earlier to a new monthly high of $87.8 billion in May, driven by the semiconductor supercycle, government data showed on Monday.It marked the third consecutive month the country’s outbound shipments surpassed the $80 billion mark, according to the Ministry of Trade, Industry and Resources.Imports rose 20.8 percent on-year to $60.8 billion, resulting in a trade surplus of $26.95 billion, reports Yonhap news agency.The combi…
New Delhi, May 6 (IANS) Indian companies have lined up investments worth over $20.5 billion across sectors such as technology, manufacturing and pharmaceuticals in the United States, US Ambassador to India, Sergio Gor, said on Wednesday, describing the momentum as a direct outcome of President Donald Trump’s economic leadership.In a post on social media platform X, the envoy said that 12 Indian companies announced fresh investments worth $1.1 billion in a single day, adding to a growing pipeline…
Washington, May 6 (IANS) The United States trade deficit widened in March as imports outpaced exports, even as the American goods gap with India narrowed compared to the same period last year, according to official data.The US Census Bureau and the Bureau of Economic Analysis said the overall goods and services deficit rose to $60.3 billion in March, up $2.5 billion from a revised $57.8 billion in February.US exports in March stood at $320.9 billion, an increase of $6.2 billion from February, wh…
New Delhi (IANS) India’s exports of steel rose by 29.1 per cent in March 2026 compared to the same month of the previous year, while imports declined sharply by 9.5 per cent, reflecting the increasing self-reliance in the sector, according to an official statement issued on Tuesday.The positive shift underscores India’s emergence as a reliable global steel supplier. It also demonstrates the country’s improved ability to meet rising domestic demand.India’s steel production registered a ro…
New Delhi, April 26 (IANS) Commerce and Industry Minister Piyush Goyal will hold a crucial meeting with export promotion councils and industry bodies on April 27 to discuss strategies to boost outbound shipments, amid growing concerns over declining exports and geopolitical disruptions.The meeting comes at a time when Indian exporters are facing headwinds due to the ongoing tensions in West Asia, triggered by the conflict involving the US, Israel and Iran.Industry sources said the situation has …
New Delhi, April 19 (IANS) A team of around a dozen Indian officials is set to arrive in Washington, D.C. on April 20 for a three-day round of negotiations with US authorities, marking the next step in discussions on the first phase of a proposed bilateral trade agreement (BTA). The talks, scheduled from April 20 to 22, will be led by India’s chief negotiator Darpan Jain, an additional secretary in the Department of Commerce, along with representatives from the customs department and the exter…
Washington, April 3 (IANS) The United States recorded a goods trade deficit of $54.91 billion with India over the past 12 months, placing it among Washington’s top deficit partners even as the overall US trade gap widened in February, according to official data.The monthly figures showed the US trade deficit rose to $57.35 billion in February, up $2.67 billion from January, though still 11 percent below the 12-month average.The increase came as imports grew faster than exports. Total exports s…
New Delhi, March 24 (IANS) The decision to enter another IMF funding arrangement has been a subject of continuous debate in Pakistan, as the country has already gone to the multilateral lending institution as many as 24 times for bailout packages to restore its macroeconomic vulnerabilities.Pakistan’s economy has been growing in a “stop-start” pattern as it improves for a while, with these IMF programmes bringing some stabilisation in the short-term, but then worsens again as there is no susta…
Seoul, March 10 (IANS) The South Korean economy expanded 1 per cent in 2025 amid strong exports but posted negative growth in the fourth quarter, central bank data showed on Tuesday.The country’s real gross domestic product (GDP) — a key measure of economic growth — contracted 0.2 per cent from the previous quarter in the October-December period, compared with its earlier estimate of a 0.3 per cent contraction, according to the preliminary data from the Bank of Korea (BOK).It marked the countr…