India, Japan, U.S. plan joint air exercise:
- India, Japan and the U.S. are set to elevate the bilateral ‘Cope India’ air exercise to a trilateral format.
- The three countries already conduct naval war games under the expanded Malabar naval exercise.
- The next edition is scheduled to be held in December for which the Final Planning Conference to finalise the modalities of the exercise is scheduled next week in Kalaikunda [West Bengal], a defence official said.
- It was agreed in the previous meet of both defence ministers from India and Japan- Japan would send observers for the next round of cope India exercises.
Textile production picks up
- The monthly Index of Industrial Production for textiles increased 7.8% in August this year compared with the same month last year. The cumulative index for textiles from April to August this year has also gone up marginally — 1.1% — from a year earlier.
- Last year this time, implementation of GST was underway and it had affected production, he said. Production has risen mainly because of domestic market demand.
Gold import increased
- Gold imports increased by about 4% to $17.63 billion in the first half of 2018-19, inflating the country’s trade deficit and fuelling worries about the current account deficit.
- Imports of the precious metal stood at $16.96 billion in April-September 2017-18 financial year, according to the Commerce Ministry data.
- Increase in gold imports pushed the country’s trade deficit to $94.32 billion in April-September 2018-19 as against $76.66 billion in the same period last year.
- CAD, which is the difference between outflow and inflow of foreign exchange, widened to 2.4% of the GDP in the first quarter of 2018-19.