In­dian ex­ports up 10%

Iran Daily - - Tse & Global Economy -

h In­dia’s ex­ports grew by 10.29 per­cent on a yearly ba­sis to $23.81 bil­lion in Au­gust, of­fi­cial data re­leased on Fri­day.

The main cat­e­gories of In­dian ex­ports are en­gi­neer­ing, pe­tro­leum, chem­i­cals and tex­tiles, ac­cord­ing to data re­leased by the Min­istry of Com­merce, Xin­hua re­ported.

Mean­while, In­dia’s im­ports rose 21.02 per­cent to $35.46 bil­lion last month from $29.3 bil­lion a year ago.

In­dia’s main im­ports in­clude oil, crude oil prod­ucts, elec­tronic prod­ucts, me­chan­i­cal prod­ucts, gold and jew­elry.

The trade deficit widened to $11.6 bil­lion from $7.7 bil­lion dur­ing the same month a year ago. France and Italy have sig­naled to Ger­many that they are open to a Ger­man be­com­ing pres­i­dent of the Euro­pean Cen­tral Bank but not if it is Bun­des­bank chief Jens Wei­d­mann, Der Spiegel re­ported.

The Ger­man mag­a­zine said that rep­re­sen­ta­tives from France and Italy had in­formed Ger­man Fi­nance Min­is­ter Wolf­gang Schäu­ble and his of­fi­cials of their po­si­tion, Reuters wrote.

Paris and Rome fear Wei­d­mann, a long-time critic of the ECB’S quan­ti­ta­tive eas­ing pro­gram, would op­pose a flex­i­ble and prag­matic mon­e­tary pol­icy in times of cri­sis, but Der Spiegel sug­gested Ber­lin was un­likely to agree with that view.

“We have just one qual­i­fied can­di­date on of­fer, and it is Wei­d­mann,” it quoted an un­named source close to the Ger­man gov­ern­ment as say­ing.

Crude Oil Gold Cop­per $49.83 $1323.50 $2.95 Sil­ver Plat­inum Wheat $17.63 $971.10 $441.50

fi­nan­cial­ex­press.com

KAI PFAFFENBACH/REUTERS

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