{"id":125563,"date":"2021-08-12T20:35:17","date_gmt":"2021-08-12T15:05:17","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=125563"},"modified":"2021-08-12T20:35:17","modified_gmt":"2021-08-12T15:05:17","slug":"our-e-com-opportunity-to-raise-export-earnings","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/our-e-com-opportunity-to-raise-export-earnings\/","title":{"rendered":"Our e-com opportunity to raise export earnings"},"content":{"rendered":"<p><strong>Source<\/strong>: <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/epaper.livemint.com\/Home\/ShareArticle?OrgId=128b5c03185&amp;imageview=0\">Livemint<\/a><\/span><\/p>\n<h5><b>What is the news?<\/b><\/h5>\n<p>The finance ministry&#8217;s report on Indian economy for July indicates that Indian economy is witnessing a revival. Recent rise in consumer demand among the rich nations is providing an opportunity to Indian exporters to expand their market.<\/p>\n<h5><strong>Parameters indicating economic revival<\/strong><\/h5>\n<ol>\n<li>Increase in Purchasing Manager&#8217;s Index for manufacturing sector &#8211; due to increase in demand as a result of &#8216;revenge shopping&#8217;\n<ul>\n<li>The term &#8216;revenge shopping&#8217; means\u00a0spending excessively after a period when one has had limited opportunities to spend.<\/li>\n<\/ul>\n<\/li>\n<li>Increase in GST collection above Rs. 1 trillion<\/li>\n<li>Rail freight movement carried goods of 112.7 million tonnes which is highest ever achieved target<\/li>\n<li>Other indicators like automotive sales, highway toll, e-way bill generation also reflect a revival of the economy.<\/li>\n<\/ol>\n<h5><strong>Opportunity in exports<\/strong><\/h5>\n<ul>\n<li>India&#8217;s recent performance at ports is impressive. Our export shipment has gathered momentum and if this momentum sustains we can achieve our target of $400 billion in merchandise exports for the year 2020-21.<\/li>\n<li>Even WTO expects the global trade in goods to rise by 8% this year from -5.3% growth in last year.<\/li>\n<li>Fiscal stimulus in America is offering a robust market for exporter. Increase in household savings in America due to this policy creating a room for expenditure boom in the economy which can have a multiplier effect on other economies too<\/li>\n<\/ul>\n<h5><strong>What needs to be done?<\/strong><\/h5>\n<ul>\n<li><strong>Removing barriers to our global competitiveness<\/strong> &#8211; like high tariffs on inputs, duty inversions of intermediate and ready to use products need to be removed.<\/li>\n<li><strong>Empowering e-commerce platforms<\/strong> &#8211; since there is increase in online spending as a fallout of covid we need to encourage and empower e-commerce platforms to reach richer markets.<\/li>\n<li><strong>Improving the supply quality and back end operations<\/strong> (backward and forward linkages) for e-commerce entities<\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\"><strong>Terms to know<\/strong><\/span><\/p>\n<ul>\n<li><span style=\"color: #0000ff;\"><strong><a style=\"color: #0000ff;\" href=\"https:\/\/forumias.com\/blog\/purchasing-managers-indexpmi\/\">Purchasing Manager&#8217;s Index<\/a><\/strong><\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Source: Livemint What is the news? The finance ministry&#8217;s report on Indian economy for July indicates that Indian economy is witnessing a revival. Recent rise in consumer demand among the rich nations is providing an opportunity to Indian exporters to expand their market. Parameters indicating economic revival Increase in Purchasing Manager&#8217;s Index for manufacturing sector&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/our-e-com-opportunity-to-raise-export-earnings\/\">Continue reading <span class=\"screen-reader-text\">Our e-com opportunity to raise export earnings<\/span><\/a><\/p>\n","protected":false},"author":10330,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,9],"tags":[],"class_list":["post-125563","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-public","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704948563},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/125563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10330"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=125563"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/125563\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=125563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=125563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=125563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}