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India’s merchandise: A preliminary data

Major commodities of export which have recorded negative growth during November 2020 vis-à-vis November 2019 are petroleum products (61.05%), leather and leather manufactures (29.80%), cashew (24.90%), plastic and linoleum (23.34%), marine products (16.11%), oil seeds (15.30%), man-made yarn/fabrics/made-ups, etc (11.14%), engineering goods (8.27%), organic and inorganic chemicals (8.09%), coffee (1.27%), RMG of all textiles (1.20%).

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India’s merchandise exports in November 2020 were USD 23.43 billion, as compared to USD 25.77 billion in November 2019, a fall of 9.07%. Exports during April-November 2020-21 were USD 173.49 billion, as compared to USD 211.17 billion during the same period last year, exhibiting a negative growth of 17.84%.

India’s merchandise imports in November 2020 were USD 33.39 billion, as compared to USD 38.52 billion in November 2019, a decline of 13.33%. Merchandise imports during April-November 2020-21 were USD 215.67 billion, as compared to USD 324.59 billion during the same period last year, exhibiting a negative growth of 33.56%.

India is thus a net importer in November 2020, with a trade deficit of USD 9.96 billion, as compared to trade deficit of USD 12.75 billion, improvement by 21.93%.

In November 2020, the value of non-petroleum exports was USD 21.95 billion, registering a negative growth of 0.03% over November 2019. The value of non-petroleum and non-gems and jewellery exports in November 2020 was USD 19.26 billion as compared to USD 19.37 billion in November 2019, registering a negative growth of 0.59%. The cumulative value of non-petroleum and non-gems and jewellery exports in April-November 2020-21 was USD 144.04 billion, as compared to USD 157.09 billion for the corresponding period in 2019-20, exhibiting a decrease of 8.30%.

In November 2020, Oil imports were USD 6.27 billion, as compared to USD 11.07 billion in November 2019, a decline by 43.36%. Oil imports in April-November 2020-21 were USD 44.10 billion, as compared to USD 85.99 billion, showing a decline of 48.71%. 

Non-oil imports in November 2020 were estimated at USD 27.12 billion, as compared to USD 27.45 billion in November 2019, showing a decline of 1.22%. Non-oil imports in April-November 2020-21 were USD 171.57 billion, as compared to USD 238.60 billion, registering a decline of 28.09% during the same period of the last year.

Non-oil, non-GJ (gold, silver &Precious metals) imports were USD 22.25 billion in November 2020, recording a negative growth of 0.84%, as compared to non-oil and non-GJ imports of USD 22.44 billion in November 2019. Non-oil and non-GJ imports were USD 149.17 billion in April-November 2020-21, recording a negative growth of 25.74%, as compared to non-oil and non-GJ imports of USD 200.89 billion in April-November 2019-20.

Major commodities of export which have recorded positive growth during November 2020 vis-à-vis November 2019 are: Other cereals (164.67%), Oil meals  (70.54%), Iron ore (68.15%), Rice (24.41%), Ceramic products and glassware (20.98%),  Handicrafts excl. Hand-made carpet (17.71%), Cereal preparations and miscellaneous processed item (16.75%), Carpet  (15.58%), Jute mfg. Including floor covering (14.06%),Spices  (12.12%), Drugs and pharmaceuticals (11.13%), Tobacco (8.64%), Cotton yarn/fabrics/made-ups, handloom products etc. (8.38%), Fruits and vegetables (5.33%), Tea (5.02%), Gems and Jewellery (4.11%), Mica, coal and other ores, minerals including process (2.23%),Meat, dairy and poultry products (1.34%), Electronic Goods (0.95%).

Major commodities of export which have recorded negative growth during November 2020 vis-à-vis November 2019 are Petroleum products  (61.05%), Leather and leather manufactures (29.80%), Cashew (24.90%), Plastic and linoleum   (23.34%), Marine products  (16.11%), Oil Seeds (15.30%), Man-made yarn/fabrics/made-ups etc. (11.14%), Engineering goods  (8.27%), Organic and Inorganic Chemicals (8.09%), Coffee  (1.27%), RMG of All Textiles (1.20%).

Major commodity groups of import showing positive growth in November 2020 over the corresponding month of last year are: Fruits & vegetables (66.81%), Chemical material & products (36.08%), Vegetable Oil (34.02%), Fertilisers, Crude & manufactured (29.25%), Pulses (18.16%), Dyeing/tanning/colouring materials (18.07%), Electronic goods (12.25%), Non-ferrous metals (9.04%), Metaliferrous ores & other minerals (4.15%), Gold (2.65%), Medcnl. & Pharmaceutical products (0.88%).

Major commodity groups of import showing negative growth in November 2020 over the corresponding month of last year are: Silver (89.71%), Cotton Raw & Waste (74.09%), Newsprint (69.96%), Project Goods (53.01%), Leather & leather products (46.81%), Petroleum, Crude & products (43.36%), Sulphur & Unroasted Iron Pyrites (34.64%),Machine tools (26.55%), Wood &  Wood products (19.81%), Transport equipment (19.62%), Pulp and Waste paper (17.09%), Machinery, electrical & non-electrical (13.37%), Textile yarn Fabric, made-up articles (13.09%), Coal, Coke & Briquettes, etc. (12.15%), Iron & Steel (10.14%), Professional instrument, Optical goods, etc. (8.30%), Pearls, precious & Semi-precious stones (7.16%),Artificial resins, plastic materials, etc. (3.45%), Organic & Inorganic Chemicals (3.23%).

India’s merchandise exports in November 2020 were $23.43 billion, as compared to $25.77 billion in November 2019, a fall of 9.07%.

India’s merchandise imports in November 2020 were $33.39 billion, as compared to $38.52 billion in November 2019, a decline of 13.33%.

India is thus a net importer in November 2020, with a trade deficit of $9.96 billion, as compared to trade deficit of $12.75 billion, improvement by 21.93%.

Value of non-petroleum and non-gems and jewellery exports in November 2020 was $19.26 billion, as compared to $19.37 billion in November 2019, a negative growth of 0.59%.

Non-oil, non-GJ (gold, silver & Precious metals) imports were $22.25 billion in November 2020, as compared to non-oil and non-GJ imports of $22.44 billion in November 2019, a negative growth of 0.84%.

Top 5 commodity groups of export which have recorded positive growth during November 2020 vis-à-vis November 2019 are: Other Cereals (164.67%), Oil meals (70.54%), Iron Ore (68.15%), Rice (24.41%), Ceramic Products and Glassware (20.98%).

Top 5 commodity groups of import showing a fall in November 2020 vis-à-vis November 2019 are: Silver (-89.71%), Cotton Raw and Waste (-74.09%), Newsprint (-69.96%), Project goods (-53.01%), Leather & leather products(-46.81%).

EEPC INDIA SEEKS EASING OF GST REFUND RULES

Sharing difficulties of engineering exporters in the midst of Covid-19 pandemic, EEPC India brought out before the Board of Trade how procedural bottlenecks have resulted in denial of GST refunds in the absence of flexibility of rules.

Making a presentation before the BoT meeting presided over by Commerce and Industry Minister Piyush Goyal, EEPC India Chairman Mr Mahesh Desai said, ” we are also facing immense working capital blockage problems due to enactment / operation of

Rule 96(10) of the CGST Rules”.

Under this rule, exporters are barred from making transactions in specific manner, for availing of the GST refunds under the IGST regime.

” But the same is causing great hardship. More importantly, this provision is causing hindrance to the promotion of exports which cannot be the policy of our Government. Flexibility in the hands of exporters cannot be taken away on account of procedural issues,” said Mr Desai.

In other submissions before the BoT, the EEPC India Chairman said the Remission of Duties and Taxes and Exported Products (RoDTEP) rate should be announced at the earliest so that it is possible for exporters to factor in the benefits from January 01, 2021. RodTep of minimum 3% should be given to all engineering products made from iron & steel so that, as and when higher rates are announced they can have higher RodTep. Incidence of duties and taxes is much higher at 7% and above.

On higher cost of borrowing, Mr Desai said banks should charge the Repo Rate plus 2.2% and the same should be notified by the Reserve Bank of India for Rupee Export Credit.

He said while the recently announced Production Linked Incentive (PLI) scheme is a good initiative for Atmanirbhar Bharat, a separate PLI scheme should be announced for the MSME sector with focus on technology upgradation.

For the engineering sector, raw materials like steel are very important. Currently engineering exporters face two major challenges – (a) availability of steel; and (b) the delay in BIS giving QCO Certificates. The BIS does not have adequate personnel to attend to the requests. EEPC India is very clear that there should be no bad quality imports and quality controls are essential. ”However, the clearance should be made time bound as we are having cases of delays of more than one year. Further, there is a need to expand steel production of the primary producers. Similarly there is a need to look at controlling the exports of iron ore so that secondary steel producers are not affected”

Welcoming the draft Merchant Shipping Bill, 2020 EEPC India Chairman said till a proper framework under the law is established, an institutionalized forum should be constituted by the Department of Commerce having representatives from CBIC, Ministry of Shipping, Ministry of Civil Aviation, EPCs and the Apex Shipping Companies Associations/freight forwarders/ICDs. Such a forum should take up issues impacting movements in cargo handling, freight rates and other procedural bottlenecks on a regular and formal basis.

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Policy & Politics

Textiles sector poised for a $100 bn export: Vikram Jardosh, MoS for Textiles

Industry should take full advantage full advantage of the global market shifts: Secretary, Ministry of Textiles.

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The Government has set a strong aspirational goal of achieving $100 billion from textiles exports in thenext 5 years and we will remain committed to ensure implementation of all development schemes and bring in many more schemes in pursuit of this aspiration, said Darshana Vikram Jardosh, Minister of State for Textiles, Ministry of Textiles, Government of India.

Government has already announced MITRA scheme to attract new investments and build mega textile parks in the country. Other significant programs including the launch of PLI scheme for achieving manufacturing excellence and RoDTEP for enhancing export competitiveness will help India to position it as a global leader in the sector.

The Minister was speaking at the inauguration of TEXCON: The 13th edition of the International Conference on Textiles & Apparel organized by the Confederation of Indian Industry today. A specialCII-Kearney report was also released on “Creating a competitive advantage for India in the global textiles and apparel industry”. The report covers the entire textile value chain and highlights the imperatives for both government and industry to bring global positioning for the sector.

Speaking on the occasion, Upendra Prasad Singh, Secretary, Ministry of Textiles said that the Government is making all efforts to proactively address the challenges and facilitate the creation of an enabling environment for the growth and development of the Textiles and Apparel sector. “We are capable to meet the domestic as well as the global market demands. I would like to urge the industry to take full advantage of the present global market shifts in establishing the excellence and prominence of India globally.”

Dilip Gaur, Chairman, CII National Committee on Textiles and Apparel & Managing Director, Grasim Industries Limited, Aditya Birla Group said, achieving breakthrough growth in Indian textiles will imply doubling down on multiple areas. The key ones include increasing share in MMF fiber and yarn, become regional leaders in apparel and fabrics and further augmenting India’s position as global home textiles leader. “Government of India has already shown strong commitment to this sector by launching multiple mega schemes in recent times which set a very positive tone for the future and to energize all industry stakeholders to take necessary steps forward in achieving the goals”, he added.

Kulin Lalbhai, Co-Chairman, CII National Committee on Textiles and Apparel & Executive Director, Arvind Ltd said, “The growing sentiment around “China plus one” sourcing is a golden opportunity for Indian textiles to stage a turnaround and gain back its leadership position as a lead exporting economy.” India is much better placed to maximize this opportunity as compared to competitors like Vietnam and Bangladesh because of India’s strategic depth.

Dilip Gaur, Chairman, CII National Committee on Textiles and Apparel & Managing Director, Grasim Industries Limited, Aditya Birla Group said, achieving breakthrough growth in Indian textiles will imply doubling down on multiple areas. The key ones include increasing share in MMF fiber and yarn, become regional leaders in apparel and fabrics.

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Piyush Goyal calls for free trade within rules-based multilateral trading system

We must work to resolve issues posed by Non-Tariff Barriers in international trade: Piyush Goyal.

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The Minister of Commerce and Industries, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyaltoday called for free trade within a rules-based multilateral trading system with honesty and transparency as core values. He added that wherever India faces an unfair or unjust treatment, it will take reciprocal action. Shri Goyal also emphasized upon the need for resolution of issues posed by Non- Tariff Barriers in international trade. He was addressing the 54th Convocation of Indian Institute of Foreign Trade in New Delhi today.

Referring to India’s recent achievement of 100 crore vaccines, he said that the milestone was the result a collective effort of 130 crore Indians and a proof of India’s ‘Atmanirbhartha’ and its resolve to leverage its capacities to the best possible extent and to serve the needs of the entire world.

Piyush Goyal said that a convocation is an important ceremony that marks the next step in the journey of the graduates when they grow from ‘acquisition of knowledge’ to ‘application of knowledge’.

He commended IIFT for contributing immensely to India’s external trade since its establishment in 1963. He said that IIFT has been widely recognized for its strong knowledge &resource base and has been consistently ranked amongst theleading business schools in the Asia-Pacific Region.

Underscoring the need for a committed and vibrant leadership in the field of academics in India, Shri Piyush Goyal called for enhancing exposure of our students to the best of technology, foreign law, economics, and international trade. Calling for tie-ups of Indian Universities with institutions of eminence across the world, he asked Indian universities to enter into sustained collaborations with such institutions.

Encouraging academic institutions to engage on a much larger scale with the industry, Shri Goyal asked students to take up internships with both the public sector and private players. Speaking of the opportunities offered by online education, Shri Goyal called for more exploration into online and hybrid modes of education.

Piyush Goyal told the students that they were graduating amidst one of the most disruptive events in the collective memory of our times. He emphasized that in the post-COVID ‘New Normal’, we can no longer play by the old rules. He called for using the disruptive interventions brought about by COVID to reorient our conventional, traditional thinking processes. Offering two cents from his versatile experience in foreign trade, Shri Goyal urged the students to ‘Learn, Unlearn, Relearn and Repeat’.

Piyush Goyal said that despite challenges, India under PM Modi has aimed to convert a crisis into an opportunity for transformation. He said that India is being looked upon as a trusted partner & we are engaging with like-minded nations e.g. EU, UK, Canada, Australia & UAE for early conclusion of FTAs.

Referring to India’s ambitious programmes like the PM GatiShakti National Master Plan for infrastructure and multimodal connectivity, Shri Goyal said that there was a need for planned, focussed efforts to create infrastructure in the country by breaking silos and bringing in synergy. “There is a need to bring in quality and productivity in all we do. A ‘Made in India’ product must be a guarantee to the world”, he added.

Applauding the Prime Minister, Narendra Modi’s visionary leadership, Goyal said that India’s decisive leadership, strong industry, vibrant media and its resolve to uphold the rule of law, had made India a trusted partner to world nations.

Lamenting that India had suffered from several missed opportunities in the past, Shri Goyal expressed the hope that we would now be able to seize every opportunity available to us to grow. “The past is a stepping stone, not a milestone”, he added.

Observing that contemporary India was confident & yet dissatisfied, he said that dissatisfied, confident people are the ones who would change the world. He urged fellow Indians to never settle for less and to work together to make India a global leader.

On the occasion, Shri Goyal presented several awards for excellence to graduating students.

Encouraging academic institutions to engage on a much larger scale with the industry, Shri Goyal asked students to take up internships with both the public sector and private players. Speaking of the opportunities offered by online education, Shri Goyal called for more exploration into online and hybrid modes of education.

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Builder hardware products from India have considerable global demand, says Minister of State for Commerce Som Parkash

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Builder hardware industry is linked to the construction equipment industry where the revenue was valued at US$ 6.5 billion in 2020 and construction market is expected to be the third largest globally by 2025: MSME Secretary B B Swain

India is the 17th largest supplier of builder hardware products and is on its way to fulfil the government ambition to become a global manufacturing hub of builder hardware products.

Builder Hardware is another performer making India as one of the top 20 suppliers with a 1.2 percent share in the world builder hardware export pie, said Som Parkash, Minister of State of Commerce & Industry

While addressing the Builder Hardware Expo, organised by EEPC India, virtually today, the Minister noted that builder hardware products from India have considerable demand across the continents.

Indian builder hardware product is one of the best performing segments in the Indian engineering goods sector which has been the key driver of merchandise exports from the country.

“Builder hardware industry is linked to the construction equipment industry where the revenue was valued at US$ 6.5 billion in 2020 and the construction market is expected to be the third largest globally by 2025,” said Mr B B Swain, Secretary, Ministry of Micro, Small and Medium Enterprises (MSME).

India is the 17th largest supplier of builder hardware products and is on its way to fulfil the government ambition to become a global manufacturing hub of builder hardware products.

Swain stated that EEPC India with more than 60 per cent of its members representing MSME sector took several initiatives even during pandemic to provide global interaction opportunities to small players in the form of webinars and virtual Expos.

“The Government of India has been proactive to ensure that all the benefits of the MSME schemes reach the intended beneficiaries in time,” said Mr Swain.

EEPC India Chairman Mahesh Desai said that the four-day virtual Expo would provide opportunity to the Indian exhibitors to display an array of over 200 domestic builder hardware products to overseas buyers from nine focus regions and trade blocs.

“The buyers would comprise contractors, builders, building engineers, architects, landscape artists, interior designers, consultants and project management professionals,” he said.

Speaking at the Expo, EEPC India Vice Chairman Arun Kumar Garodia said India belongs to the league of leading builder hardware manufacturing and exporting nations.

“The Government of India has now set a National Mission of merchandise exports to reach US$ 400 billion within this fiscal, US$ 500 billion by FY-24 and US$ 1 trillion by FY-28 by making Indian products the only choice for global buyers,” he said.

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MOU SIGNED BETWEEN J&K AND GOVERNMENT OF DUBAI FOR REAL ESTATE DEVELOPMENT, INDUSTRIAL PARKS, SUPER SPECIALITY HOSPITALS

MoU will give UT a big developmental push: Piyush Goyal

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Jammu and Kashmir administration has signed a Memorandum of Understanding (MoU) with the Government of Dubai for real estate development, industrial parks, IT towers, multipurpose towers, logistics, medical college, super specialty hospital and more.

Union Minister for Commerce and Industry Piyush Goyal highlighted the significance of the day and said that with the signing of the MoU with Dubai Government, the world has started to recognize the pace with which Jammu and Kashmir is traversing on the development bandwagon. This MoU gives out a strong signal to the entire world that the way India is transforming into a global power, Jammu & Kashmir is having a significant role in that as well.

This MoU is a milestone after which the investment will pour in from entire globe and is a big developmental push. Different entities from Dubai have shown keen interest in investment. Development has to be aspired on all fronts and we are on track, he added.

Goyal thanked Prime Minister Narendra Modi and Home Minister Shri Amit Shah for their focus and commitment towards the development of UT of Jammu & Kashmir. Recent industrial package of 28,400 Crore rupees is a testimony towards ensured development.

Terming it a momentous occasion for the UT of Jammu and Kashmir, Jammu and Kashmir Lieutenant Governor Shri Manoj Sinha said that this development journey will help the Union Territory to scale new heights in Industrialization and sustainable growth.

Union Minister for Commerce and Industry Piyush Goyal highlighted the significance of the day and said that with the signing of the MoU with Dubai Government, the world has started to recognize the pace with which Jammu and Kashmir is traversing on the development bandwagon.

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India is working towards bridging digital divide in Africa: V. Muraleedharan

‘India has adopted an approach that facilitates development of human capital in the continent with the larger objective of harnessing socio-economic growth,’ said V. Muraleedharan, Minister of State for External Affairs & Parliamentary Affairs, Government of India

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‘India is working towards bridging digital divide in Africa and has adopted an approach that facilitates development of human capital in the continent with the larger objective of harnessing socio-economic growth”, mentioned V Muraleedharan, Hon’ble Minister of State for External Affairs & Parliamentary Affairs, Government of India while addressing the Inaugural Session at the 2nd edition of the India Africa Higher Education and Skill Development Summit organised by Confederation of Indian Industry in partnership with Ministry of External Affairs, Government of India today.

Muraleedharan elucidated that India is best positioned to partner Africa as we can offer affordable and high-quality education and skill development opportunities and make the young population employable and allow them to participate in growing economies of African countries. Elucidating on the strong Indo-African partnership in the domain of higher education and skill development, the Minister stated that capacity building and providing higher education opportunities with for the socio-economic development of our partner nations is a major element of our Foreign Policy.

India has long standing ties in education with Africa and over 2000 Indian faculty members have been involved in teaching and research activities of Ethiopian nations. Further, defence academies and colleges are being set up in nations like Nigeria and Tanzania. With a view to promote students from African nations to study in India, several initiatives have been undertaken like the Study in INDIA, ITEC programmes, Sir C V Raman Scholarship, collaboration of Department of Science & Technology with the World Bank to develop centres of excellence in African countries and the launch of e-VidyaBharti and e-ArogyaBharti Project, among others.

Dr Sarah Ruto, Chief Administrative Secretary, Ministry of Education Republic of Kenya, emphasised that Kenya is working towards the implementation of the 2030 Agenda of Sustainable Development Goals with a special focus on select education-based SDG Goals. She mentioned that Kenya has a competency-based curriculum to meet the rising demands for tertiary education and there is focus on alumni network funding as well as partnerships to promote skill development.

Buti Kgwaridi Manamela, Deputy Minister of Higher Education, Science & Innovation, Government of Republic of South Africa informed that a bilateral cooperation treaty is being negotiated in education for exchange of students as well as to share best practices. He added that forums like IBSA and BRICS have also provided opportunities to address the developmental needs of the nations.

Dame Diop, Minister of Employment, Vocational Training, Apprenticeship and Inclusion, Government of Republic of Senegal informed that the Plan for an Emerging Senegal (PES) which harmonises national policies particularly for human capital development and vocational training is a major step towards promoting employability. The Minister commended India for committing 130 million Rupees to Senegal to create science and technology institutes.

Dr Douglas Letsholathebe, Minister of Tertiary Education, Research, Science and Technology, Government of Republic of Botswana highlighted that the commonality of English language based higher education system offers scope for greater cooperation between the countries. The Minister stated that the Botswana Vision 2036 aims at transformation from a resource-based to an all-ingredient knowledge-based economy focussing on education, training, and human resource development systems. Expressing the commitment to the youth, Botswana has joined the Generation Unlimited initiative as a leader thereby, playing a crucial role in forging multisector partnerships across geographies to provide greater access to skilling and livelihood opportunities.

S Kuppuswamy, Co-Chair, CII Africa Committee & Advisor-Group Finance & Special Projects, Shapoorji Pallonji Group, said that the Indo-African collaboration has strengthened in the post pandemic era as the nations are collectively focusing on new age learning models and enhancing the role of technology in education. Emphasizing on the strong multilateral cooperation with Africa, it was highlighted that one of the most popular programs, the Study in India commonly called EDCIL offered by Ministry of Education offers around 900 scholarships to African students to study in India and Indian universities are also investing in promoting their services to the African community.

The two day Summit organised in partnership with Ministry of External Affairs, Government of India will focus on Online education, Study in India and Skills Development programmes. Over 6 ministers from Africa and India participated at the Summit and event saw online registration of 600 delegates from India and Africa.

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INDEX NUMBERS OF WHOLESALE PRICE IN INDIA FOR THE MONTH OF SEPTEMBER, 2021(BASE YEAR: 2011-12)

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Note: P: Provisional, F: Final, * Annual rate of WPI inflation calculated over the corresponding month of previous year

The month over month change in WPI index for the month of September, 2021 (as compared to August, 2021) was 0.07 %. The monthly change in WPI index for last six-month is summarized below:

Annex-I

All India Wholesale Price Indices and Rates of Inflation (Base Year: 2011-12=100) for September, 2021

Annex-II

Note: * = Provisional, Mf/o = Manufacture of

Note: * = Provisional, Mf/o = Manufacture of

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