ASSOCHAM, Export - Current Affairs Questions and Answers

ANSWER: ASSOCHAM

Explanation:
India's food processing sector has the potential to attract $33 billion investment by 2024, according to a study released here on 20^thNov 2017 by ASSOCHAM.

The country's food and retail market is expected to touch $482 billion by 2020, up from $258 billion in 2015, with recent reforms making the sector more competitive and marke-oriented, it said.

ASSOCHAM: Know More

• The Associated Chambers of Commerce and Industry of India (ASSOCHAM) is one of the apex trade associations of India.
• The organisation represents the interests of trade and commerce in India, and acts as an interface between industry, government and other relevant stakeholders on policy issues and initiatives.
• The goal of this organisation is to promote both domestic and international trade, and reduce trade barriers while fostering conducive environment for the growth of trade and industry of India.

ANSWER: Sandeep Jajodia

Explanation:
Monnet Ispat & Energy Ltd. CMD Sandeep Jajodia has been appointed the new President of industry chamber ASSOCHAM.

Balkrishan Goenka, Chairman, Welspun Group and Kiran Kumar Grandhi, vice-chairman of GMR Infrastructure Ltd, have taken over as senior vice-president and vice-president respectively.

Jajodia took over from Sunil Kanoria, vice-chairman, Srei Infrastructure Finance Limited.

ASSOCHAM initiated its endeavour of value creation for Indian industry in 1920.

It has more than 400 Chambers and Trade Associations, serving more than 4,50,000 members from all over India.

ASSOCHAM is set to influence dynamics of growth and development in the technology driven cyber age of ‘Knowledge Based Economy’.

ASSOCHAM derives its strength from its Promoter Chambers and other Industry/ Regional Chambers/Associations spread all over the country.

ANSWER: National Data Bank

Explanation:
Industry body ASSOCHAM has offered to set up a National Data Bank containing information about electronic transactions, used by the government for official purposes like issuance of passports as well as protecting country’s strategic interests.

• Proposal involves creation of a Central Coordination Committee under the guidance of National Security Council Secretariat
• A clear legal framework is required to legitimise the need for creating a National Data Bank of e-information of classified and heritage documents for national archives which can be integrated with national information policy demarcating information into three board categories.
• Data which is non sensitive in nature could be used for scientific economic and development purposes
• It can be used for taking accurate and immediate decisions in large demographies for trend forecasting and recourse in case of civic decisions or exigency by numerous Ministries or Departments of Government of India.
• Industry has noted the current regime of the Big Data Management does not facilitate efficient open sharing and interoperability of government owned data with different inter and intra government agencies
• Need for creating cyber National Data Bank of e-information of classified heritage documents for National Archive with the aim to promote open data sharing and access to GoI owned data for national planning and R&D.

ANSWER: Merchandise Exports India Scheme

Explanation:
Government has eased norms for availing export benefits under MEIS. Exporters have been relieved from submitting certificate of goods to avail benefits under the MEIS aimed at ease of doing business.

• This scheme covers 5012 lines or products and 2787 lines are required for submission of proof of landing as reward is not there for all markets
• Therefore, landing certificate will not be required for all markets under MEIS
• Move is aimed at improving ease of doing business.

ANSWER: ASSOCHAM

Explanation:
This is a 67% jump over USD 23 billion revenue for 2015 as per industry body ASSOCHAM. Indian e-commerce market was worth USD 3.8 billion in 2009 and went up to USD 17 billion in 2014 nd USD 23 billion in 2015. It is expected to touch USD38 billion mark by 2016. Enhanced internet and mobile penetration as well as increased acceptability of online payments and desired demographics will provide the e-commerce sector a chance to connect with customers. ASSOCHAM predicts a 5 to 7 fold increase in revenue generated via e-commerce.

ANSWER: 321

Explanation:
The total merchandise export has been valued at USD 321 billion as against USD 314 billion in the year before this, as per an UNCTAD report. Report indicated that international service exports constituted 21% of the total global exports valued at slightly more than USD 5 trillion in 2014. This was a growth of around 5% over the previous year. Total global exports for 2014 stood at USD 24 trillion which is up by 1.2 percent as against the previous year. According to the Handbook of Statistics published by UNCTAD, service exports from developed and developing economies expanded at 5.2 and 4.8 percent respectively in 2014.

ANSWER: Both of the above

Explanation:
India’s total exports of the IT, ITeS and BPO services grew by 14.8% to USD 82 billion/INR 5.01 lakh crore in the year 2014-2015, as per RBI data. RBI also said in the Survey on Computer Software and IT enabled Services Exports: 2014-2015 that exports of computer services grew 72% and 28% for computer services and ITeS/BPO roughly. Public limited companies constitute 55.6% and as per RBI survey, US and Canada will persist in being major destinations, accounting for 60% of total software services export in 2014-2015.

ANSWER: Sunil Kanoria

Explanation:
Sunil Kanoria on 25th November 2015 has been appointed as President of the Associated Chamber of Commerce and Industry of India, succeeding YES Bank MD and CEO Rana Kapoor. Kanoria has an amazing record as a finance expert and brought INR 34000 crore rupees of consolidated assets under SREI, one of the first NBFCs to be listed on LSE.

ANSWER: 23

Explanation:
As many as 23 key sectors of export declined in August on account of demand downturn and falling global prices. 23 of 30 sectors monitored by Commerce Ministry were in negative zone in March. FIEO sought immediate intervention of government to stop the slide. India's exports declined 20.66 percent in August to USD 21.26 billion, increasing the trade deficit to USD 12.47 billion. Two top sectors engineering and petrol products contracted by 29 and 47.88 percent while textile exports shrank by 7.32 percent to USD 1.28 billion in August 2015. These 3 sectors constituted 47% of the total exports of the country in the previous fiscal. 11 of 13 key agricultural products fell into negative zone too. Exports of rice, spices and tobacco fell 26.32 percent to USD 443 million, 8.7 percent to USD 209 million and 15.25 percent to USD 62 million and negative growth was observed in cereals (43.94 percent), cashew (7.75 percent), oil meals (19.5 percent), carpet (22 percent), leather (12.78 percent), iron ore (34.28 percent) and chemicals (5 percent). This pushed down overall merchandise export and India aims for USD 900 billion exports in 2202 and 3.5% share in world’s total exports. Previous 4 years have seen exports hovering at USD 300 billion.

ANSWER: Dinesh Kumar

Explanation:
Mr. Kumar, representing M/s Orient Art &Crafts, New Delhi, is a leading exporter of handicrafts from India. He has been associated with the handicrafts sector for more than four decades. Mr. Kumar runs retail business of handicrafts products and has manufacturing units as well. He has served in various capacities as member of the Committee of Administration, President - Trade Fairs, and Vice-Chairman - EPCH. Mr. Kumar is also one of the Directors of India Exposition Mart Ltd., Greater Noida.