Economy
Trade deficit narrows sharply in India
India’s export growth contracted by 13.6% y-o-y in January, after contracting 14.7% in December
 
India’s export growth contracted by 13.6% in January, after contracting 14.7% in December.The weakness was largely price-driven, although export volumes also fell, says Nomura Securities.
 
The import contraction deepened to -11% from -3.9% in December, led by lower petroleum and core including imports ex-oil and gold, imports. There were signs of weakness, with consumption goods and several key capital goods imports falling. Nomura estimates that, in volume terms, core imports raised 9.5% y-o-y, slower than the 13.7% rise in December.  
 
With imports falling more than exports, the trade deficit narrowed to $7.6bn in January from $11.7bn in December, better than expected. They expect the current account deficit (CAD) to narrow to 0.4% of GDP in Q4 2015from 1.6% in Q32015. 
 
For FY16, despite the divergence between domestic (rising) and global (weak) demand, Nomura expects the CAD tomorrow to 0.7% of GDP from 1.3% in FY15 owing to lower commodity prices. 
 
The trade data indicates that much of the weakness in both exports and imports are price driven, owing to low commodity prices, says Nomura. Meanwhile, external headwinds remain strong as seen in falling non-oil export volumes. They expect current account deficit to narrow to 0.7% of GDP from 1.3% in FY2O15 owing to lower commodity prices.

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Five utility apps that come in handy for women
New Delhi : Over the past few years the status of women in India has seen many great changes. Doing away with their lower status to promotion of equal rights has been a very powerful change in India -- and so has been the growth of utility apps for them.
 
Here's the low-down on five of the utility apps designed especially for women -- ranging from an autorickshaw hailer to one offering curated women's fashion.
 
* Jugnoo is a mobile app by a Chandigarh-based company of the same name, established in 2014. It is a mobile app offering one of the largest networks of auto-rickshaws in India, with more than 5,000 autos currently empanelled. Founded by Samar Singla and Chinmay Agarwal, the company is targeting students, working professionals and the masses that are dependent on public transport for their daily commute.
 
* Urban Clap, founded in November 2014, is one of India’s largest mobile services marketplaces. It provides trusted services across 80-plus categories including photographers, salon at home, home cleaning and repairs, and yoga and guitar instructors.
 
* Goibibo is one of India's leading online travel aggregators and enables users to buy air tickets, bus tickets, book holidays and car rentals. It is also a leading app available across mobile operating systems: iOS, Android and Windows. 
 
* Revv is an app that gets you a car on rent that you can drive yourself and that too available at your doorstep. Revv is the easiest and most convenient option for all the women out there who want to get back home from office or vice-versa without putting their safety at stake. It also offers hourly rentals with unlimited kilometres. 
 
* Voonik offers the largest curated women's fashion available online. The stylists at Voonik are coming up with quirky and trendy ideas that will lure one's attention so that women can dress and look their best. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Bharat Forge ships first titanium flaptrack to Boeing
New Delhi : Leading Aircraft manufacturer Boeing and Kalyani Group company Bharat Forge Limited (BFL) on Wednesday announced the first shipment of BFL-made titanium flaptrack forgings for Boeing's Next-Generation 737 aircraft.
 
"Shipment of the first titanium forging from India is a significant step towards building a capable and competitive supply chain in India for Boeing," said Pratyush Kumar, president, Boeing India in a statement.
 
BFL will also supply forgings for Boeing 737 MAX aircraft scheduled to enter service in 2017.
 
"BFL is truly honoured to become India's only forging company to be included in Boeing's globally approved vendor list for titanium forgings," said BFL chairman Baba Kalyani in the statement.
 
According to Kalyani, BFL will explore mergers and acquisitions to become a significant player in the global aerospace components business.
 
Both the companies are looking for opportunities to expand BFL's work for Boeing.
 
BFL is a part of $2.5 billion Kalyani Group which provides components and solutions to automotive, railways, power, construction & mining, defence & aerospace, marine and oil and gas.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Ramesh Poapt

10 months ago

Bharat needs many BABAs like Kalyani! great!!

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