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India’s Foreign Trade (Merchandise): April, 2016



India’s Foreign Trade (Merchandise): April, 2016 


         
I. MERCHANDISE TRADE

 EXPORTS (including re-exports)

            Exports during April,2016 were valued at US$ 20568.85 million (Rs.136720.11 crore) which was 6.74 per cent lower in Dollar terms (1.21 per cent lower in Rupee terms) than the level of US$ 22054.72 million (Rs.138400.44crore) during April, 2015.


Non-petroleum exports in April 2016 are valued at US$ 18589.27 million against US$ 19299.56 million in April 2015, a reduction of 3.68 per cent.

The trend of falling exports is in tandem with other major world economies. The growth in exports have fallen for USA (3.87 per cent), European Union (0.04 per cent), China (25.34 per cent) and Japan (1.10 per cent) for February 2016 over the corresponding period of previous year as per WTO statistics.
         
IMPORTS

            Imports during April, 2016 were valued at US$ 25413.72 million (Rs.168923.71 crore) which was 23.10 per cent lower in Dollar terms and 18.54 per cent lower in Rupee terms over the level of imports valued at US$ 33047.02 million (Rs.207380.63 crore) in April, 2015.


CRUDE OIL AND NON-OIL IMPORTS:          
         
            Oil imports during April, 2016 were valued at US$ 5655.92 million which was 24.01 per cent lower than oil imports valued at 7442.92 US$ million in the corresponding period last year.

            Non-oil imports during April, 2016 were estimated at US$ 19757.80 million which was 22.83 per cent lower than non-oil imports of US$ 25604.10 million in April, 2015.

                                                                                                                                                                                      II. TRADE IN SERVICES (for March, 2016, as per the RBI Press Release dated 13th May, 2016)


EXPORTS (Receipts)
Exports during March, 2016 were valued at US$ 12895 Million (Rs. 86424.74 crore).

During March, 2016, on month-on-month basis, growth in services export turned positive (with a growth of 4.59 per cent) as compared to negative growth (1.94 per cent) during February 2016 (as per RBI’s Press Release for the respective months).

IMPORTS (Payments)
Imports during March, 2016 were valued at US$ 7905 million (Rs. 52980.81 crore).


III.TRADE BALANCE


MERCHANDISE: The trade deficit for April 2016 was estimated at US $ 4844.87 million which is lower than the deficit of US $ 10992.30 million during April 2015.

SERVICES: As per RBI’s Press Release dated 13th May 2016, the trade balance in Services (i.e. net export of Services) for March, 2016 was estimated at US$ 4990 million. The net export of services for April- March, 2015-16 was estimated at US$ 69590.21 million which is lower than net export of services of US$ 76587.55 million during April- March, 2014-15. (The data for April- March 2015-16 has been derived by adding April-December 2015-16 with month wise QE data of RBI Press Release dated 13th May 2016).

OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April- March, 2015-16 was estimated at US$ 48869.16 million which is 20.03 percent lower in Dollar terms than the level of US$ 61107.40 million during April – March 2014-15.

MERCHANDISE TRADE



(PROVISIONAL)


APRIL
EXPORTS(including re-exports)

2015-16
22054.72
2016-17
20568.85
%Growth 2016-17/ 2015-16
-6.74
IMPORTS

2015-16
33047.02
2016-17
25413.72
%Growth 2016-17/ 2015-16
-23.10
TRADE BALANCE

2015-16
-10992.30
2016-17
-4844.87


EXPORTS & IMPORTS  : (Rs. Crore)
(PROVISIONAL)

APRIL
EXPORTS(including re-exports)

2015-16
138400.44
2016-17
136720.11
%Growth 2016-17/ 2015-16
-1.21
IMPORTS

2015-16
207380.63
2016-17
168923.71
%Growth 2016-17/ 2015-16
-18.54
TRADE BALANCE

2015-16
-68980.19
2016-17
-32203.60


SERVICES TRADE

EXPORTS & IMPORTS (SERVICES) : (US $ Million)
(PROVISIONAL)
March 2015-16
EXPORTS (Receipts)
12895.00
IMPORTS (Payments)
7905.00
TRADE BALANCE
4990.00


EXPORTS & IMPORTS (SERVICES): (Rs. Crore)
(PROVISIONAL)
March 2015-16
EXPORTS (Receipts)
86424.74
IMPORTS (Payments)
52980.81
TRADE BALANCE
33443.93
Source: RBI Press Release dated 13th May 2016


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Cabinet approves National Intellectual Property Rights Policy 

“Creative India; Innovative India: रचनात्मक भारत; अभिनव भारत”


The Union Cabinet yesterday approved the National Intellectual Property Rights (IPR) Policy that will lay the future roadmap for intellectual property in India. The Policy recognises the abundance of creative and innovative energies that flow in India, and the need to tap into and channelise these energies towards a better and brighter future for all.

The National IPR Policy is a vision document that aims to create and exploit synergies between all forms of intellectual property (IP), concerned statutes and agencies. It sets in place an institutional mechanism for implementation, monitoring and review. It aims to incorporate and adapt global best practices to the Indian scenario. This policy shall weave in the strengths of the Government, research and development organizations, educational institutions, corporate entities including MSMEs, start-ups and other stakeholders in the creation of an innovation-conducive environment, which stimulates creativity and innovation across sectors, as also facilitates a stable, transparent and service-oriented IPR administration in the country.

The Policy recognizes that India has a well-established TRIPS-compliant legislative, administrative and judicial framework to safeguard IPRs, which meets its international obligations while utilizing the flexibilities provided in the international regime to address its developmental concerns.  It reiterates India’s commitment to the Doha Development Agenda and the TRIPS agreement.

While IPRs are becoming increasingly important in the global arena, there is a need to increase awareness on IPRs in India, be it regarding the IPRs owned by oneself or respect for others’ IPRs. The importance of IPRs as a marketable financial asset and economic tool also needs to be recognised. For this, domestic IP filings, as also commercialization of patents granted, need to increase. Innovation and sub-optimal spending on R&D too are issues to be addressed.

The broad contours of the National IPR Policy are as follows:

Vision Statement: An India where creativity and innovation are stimulated by Intellectual Property for the benefit of all; an India where intellectual property promotes advancement in science and technology, arts and culture, traditional knowledge and biodiversity resources; an India where knowledge is the main driver of development, and knowledge owned is transformed into knowledge shared.

Mission Statement:

Stimulate a dynamic, vibrant and balanced intellectual property rights system in India to:
o   foster creativity and innovation and thereby, promote entrepreneurship and enhance socio-economic and cultural development, and
o   focus on enhancing access to healthcare, food security and environmental protection, among other sectors of vital social, economic and technological importance.

Objectives:

The Policy lays down the following seven objectives:
        i.            IPR Awareness: Outreach and Promotion - To create public awareness about the economic, social and cultural benefits of IPRs among all sections of society.
      ii.            Generation of IPRs - To stimulate the generation of IPRs.
    iii.            Legal and Legislative Framework - To have strong and effective IPR laws, which balance the interests of rights owners with larger public interest.
    iv.            Administration and Management - To modernize and strengthen service-oriented IPR administration.
      v.            Commercialization of IPRs - Get value for IPRs through commercialization.
    vi.            Enforcement and Adjudication - To strengthen the enforcement and adjudicatory mechanisms for combating IPR infringements.
  vii.            Human Capital Development - To strengthen and expand human resources, institutions and capacities for teaching, training, research and skill building in IPRs.

These objectives are sought to be achieved through detailed action points. The action by different Ministries/ Departments shall be monitored by DIPP which shall be the nodal department to coordinate, guide and oversee implementation and future development of IPRs in India.

The National Intellectual Property Rights (IPR) Policy will endeavor for a “Creative India; Innovative India: रचनात्मक भारत; अभिनव भारत”.

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