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China's trade data soared&nbsp;unexpectedly in August with exports rising 25.6% in dollar terms to a record $294.3 billion, more than $10 billion above any previous month.Imports also grew a mammoth 33.1% to $236 billion, also the highest level ever. This surge in exports has swelled&nbsp;China's trade surplus to $58.34 billion in August.&nbsp;So what is China exporting? As per data available the top three exports by value were&nbsp; the usual suspects; electronics, high-tech products, and clothing and clothing accessories.

China sees record exports, trade data sees unexpected surge in August

China trade data surges, Exports out of the Mainland soar to a record high.&nbsp;

China Record High Trade Data 

China&rsquo;s exports jumped 25.6% year-over-year in August, customs data showed Tuesday, above expectations for a 17.1% rise as polled by economists.&nbsp;

China's trade data soared&nbsp;unexpectedly in August with exports rising 25.6% in dollar terms to a record $294.3 billion, more than $10 billion above any previous month. Imports also grew a mammoth 33.1% to $236 billion, also the highest level ever. This surge in exports has swelled&nbsp;China's trade surplus to $58.34 billion in August.&nbsp; So what is China exporting? As per data available the top three exports by value were&nbsp; the usual suspects; electronics, high-tech products, and clothing and clothing accessories.

Putting a dead stop to the trade between India and Afghanistan, Taliban has stopped all imports and exports from the subcontinent. 

Dry fruit prices soar, as Taliban halts all trade with India 

From Almond importers to sugar exporters all face a big mess as Taliban stops all trade with India.&nbsp;

Taliban stops Trade with India 

<ul>
<li>Taliban stops all trade with India, hit of nearly billion dollars to exporters</li>
<li>India exports&nbsp;tea, coffee, pepper sugar and cotton to Afghanistan&nbsp;</li>
<li>Afghan exports to India include mostly dry fruits, dried raisin, walnut, almond, fig, pine nut, pistachios, dried apricot&nbsp;</li>
<li>India is importing around 85 per cent of dry fruits from Afghanistan.</li>
<li>The prices of Afghan almonds, figs, apricots and raisins have increased by&nbsp;₹200 per kilogram,</li>
</ul>

<div class="row">
<div class="heading-part">
<h2 class="synopsis">Neighbouring nation only exporter of anjeer and apricot, major importer of Indian sugar</h2>
</div>
</div>
&nbsp;

Putting a dead stop to the trade between India and Afghanistan, Taliban has stopped all imports and exports from the subcontinent.&nbsp; The total value of trade between India and Afghanistan currently stands at over $1.5 billion, where exports from India stand at over $900 million. India's outbound shipments to Afghanistan include tea, coffee, pepper sugar and cotton.&nbsp;
Also See |<a href="https://www.editorji.com/story/fight-now-pay-later-what-the-afghanistan-war-is-really-going-to-cost-uncle-sam-1629321874353" target="_blank">&nbsp;'Fight Now, Pay Later': what the Afghanistan war is really going to cost Uncle Sam</a>
Export Organisation (FIEO) has said that currently the <a href="https://www.editorji.com/story/watch-taliban-fire-to-disperse-jalalabad-protesters-one-dead-1629303529267" target="_blank">Taliban</a> has stopped the movement of cargo through the transit routes of Pakistan, thereby stopping imports from the country. This has led to a surge in dry fruit prices in the local markets in India.&nbsp;Afghan exports to India include dried raisin, walnut, almond, fig, pine nut, pistachios, dried apricot and fresh fruits such as apricot, cherry, watermelon, and medicinal herbs.&nbsp; India and Afghanistan signed a Preferential Trade Agreement (PTA) in March 2003 under which India allowed substantial duty concessions, ranging from 50% to 100%, to certain category of Afghan dry fruits. Afghanistan, in turn, has allowed reciprocal concessions to Indian products including tea, sugar, cement and pharmaceuticals&nbsp; &nbsp; An Air-Freight Corridor connecting India and <a href="https://www.editorji.com/story/council-may-rule-afghanistan-for-now-taliban-reach-out-to-soldiers-pilots-1629345165286" target="_blank">Afghanistan</a> was established in June 2017 to overcome the lack of safe passage via Pakistan, which also stands abandoned due to the closure of the airspace by the Taliban.&nbsp;
Federation of India Export Organisation expressed concern that in coming days dry fruit prices may go up due to the turmoil in Afghanistan. India is importing around 85 per cent of dry fruits from Afghanistan. The prices of Afghan almonds, figs, apricots and raisins have increased by&nbsp;₹200 per kilogram, while that of pistachio has increased by&nbsp;₹250 per kilogram.

The government has reportedly proposed to slash import duties on steel items to zero or near-zero levels.
A decision had been taken to review duties on steel products and reduce or withdraw them altogether in a bid to help the user industry hit hard by rising price of the metal in the domestic market.
The lower import duties would help maintain supply lines affected by several domestic steel companies reducing steel production to divert medical grade oxygen for Covid-19 relief measures.&nbsp;

Steel import duties may be cut to zero as prices jump 50%

Steel prices are now at multiyear high with no easing in sight, Govt is now looking at waving import duty to ease price pressures on user industries.&nbsp;

The government is set to propose slashing import duties on steel items to near zero levels as per reports.&nbsp;
A decision had been taken to review duties on steel products and reduce or withdraw them altogether in an effort to help the user industry which has been hit hard by rising price of the metal in the domestic market. Domestic hot-rolled coil (HRC) prices rallied to a multi-year high of Rs 56,000 per tonne marking a&nbsp;a jump of over 50 per cent in last 13 months.
&nbsp;

India's rug regulator control unit&nbsp;the&nbsp;CDSCO) has cleared the way for the import of COVID-19 vaccines into India. The CDSCO&nbsp;has released guidance for the import of vaccines by the private sector or state governments. Here are the detais-:&nbsp;

Importer or agent of the manufacturer will obtain 3 licenses from CDSCO for vaccines not yet approved or licensed in India
With import license, vaccines can be imported to be supplied to state government or private entities
For the import of an already approved vaccine, only an import license from regulator is required.
Ready-to-use imported COVID-19 vaccines are allowed to be utilized entirely in the other than the government of India channel.

&nbsp;

Decks cleared for private companies to import vaccines into India

India's drug regulator control unit&nbsp;the&nbsp;CDSCO&nbsp;has cleared the way for the import of COVID-19 vaccines into India and has released guidelines for private companies and state governments.&nbsp;

Private cos&nbsp;get nod to import vaccines into India
Importer to obtain vaccine licenses from CDSCO
Ready-to-use vaccines to be used in non-GOI&nbsp;channel

India's drug regulator control unit&nbsp;the&nbsp;CDSCO&nbsp;has cleared the way for the import of COVID-19 vaccines into India. The CDSCO&nbsp;has released guidance for the import of vaccines by the private sector or state governments. Here are the details-:&nbsp;
<ul>
<li>Importer or agent of the manufacturer will obtain 3 licenses from CDSCO for vaccines not yet approved or licensed in India</li>
<li>With import license, vaccines can be imported to be supplied to state government or private entities</li>
<li>For the import of an already approved vaccine, only an import license from regulator is required.</li>
<li>Ready-to-use imported COVID-19 vaccines are allowed to be utilized entirely in the other than the government of India channel.</li>
</ul>
&nbsp;

India's&nbsp;forex reserves declined by $2.9 billion to reach $579.28 billion in the week ended March 26, this marks a total up mop up of $101.5 bn in FY21 the highest ever rise in a single financial year.&nbsp;
At $579.2 billion India's forex&nbsp;kitty&nbsp;is ranked third in the world after Japan and China.&nbsp;India's forex&nbsp;cover has grown over 5 times since 2003 when it hit $100 bn for the first time in December 2003. Experts see the kitty growing to over $640 bn by FY'22 fiscal year end.&nbsp;India currently has an import cover of nearly 18 months.&nbsp;
&nbsp;

India's forex kitty drops in final week of march, FY'21 mop-up highest ever

India's&nbsp;forex reserves declined by $2.9 billion to reach $579.28 billion in the week ended March 26, this marks a total up mop up of $101.5 bn in FY21 the highest ever rise in a single financial year.&nbsp;
At $579.2 billion India's forex&nbsp;kitty&nbsp;is ranked third in the world after Japan and China.&nbsp; India's forex&nbsp;cover has grown over 5 times since 2003 when it hit $100 bn for the first time in December 2003. Experts see the kitty growing to over $640 bn by FY'22 fiscal year end.&nbsp; India currently has an import cover of nearly 18 months.&nbsp;
&nbsp;

<ul>
<li>India's&nbsp;forex reserves drop by&nbsp;$2.9 billion for week ended March 26</li>
<li>FY'21 forex&nbsp;reserve mop-up at $101 bn, highest ever&nbsp;</li>
<li>India's forex reserves third highest in the world after Japan, India</li>
<li>India's import cover at 18 months&nbsp;</li>
</ul>

India's&nbsp;forex reserves declined by $2.9 billion to reach $579.28 billion in the week ended March 26, this marks a total up mop up of $101.5 bn in FY21 the highest ever rise in a single financial year.&nbsp;
At $579.2 billion India's forex&nbsp;kitty&nbsp;is ranked third in the world after Japan and China.&nbsp; India's forex&nbsp;cover has grown over 5 times since 2003 when it hit $100 bn for the first time in December 2003. Experts see the kitty growing to over $640 bn by FY'22 fiscal year end.&nbsp; India currently has an import cover of nearly 18 months.&nbsp;
&nbsp;

India imported a record 160 tonnes of gold in March as per a report on Reuters. This marks a 471% surge on a year-on-year basis for the yellow metal's import data.&nbsp;
In value terms Reuters&nbsp;reports , March imports surged to $8.4 billion from $1.23 billion a year ago, as per govt sources.&nbsp;
For the Jan-March quarter told gold import stood at 321 tonnes up 191% from 124 tonnes a year ago
Experts cite dropping prices as big boost to demand, gold is down&nbsp;17% from an all-time high of $2,072 in August 2020. India has also cut import duty in March for the yellow metal.
&nbsp;

India's March gold imports surge 471% to a record 160 tonnes worth $8.4 billion

India imported a record 160 tonnes of gold in March aworth over $8.6 bn. This marks a 471% surge on a year-on-year basis for the yellow metal.
&nbsp;

<ul>
<li>India gold imports&nbsp;at record in March - 167 tonnes = $8.6 billion</li>
<li>Gold imports in March up 471% on YoY&nbsp;basis - Reuters</li>
<li>Jan-March quarter gold import by India up 191% at 321 tonnes</li>
<li>Global gold prices down 17% from Augist&nbsp;2020 high&nbsp;</li>
</ul>

India imported a record 160 tonnes of gold in March as per a report on Reuters. This marks a 471% surge on a year-on-year basis for the yellow metal's import data.&nbsp;
In value terms Reuters&nbsp;reports , March imports surged to $8.4 billion from $1.23 billion a year ago, as per govt sources.&nbsp;
For the Jan-March quarter told gold import stood at 321 tonnes up 191% from 124 tonnes a year ago
Experts cite dropping prices as big boost to demand, gold is down&nbsp;17% from an all-time high of $2,072 in August 2020. India has also cut import duty in March for the yellow metal.
&nbsp;

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