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The ministries of finance, shipping as well as commerce and industry have discussed problems being faced by exporters due to the Red Sea crisis and the commerce ministry has suggested sharing specific matters for their resolution. There is no adverse impact on the country’s exports due the crisis so far. However, according to exporters, the impact is likely to figure in the numbers of March-April. At present, exporters are executing their old orders and the impact could be visible when they would start getting new export orders.
The commerce ministry asked federation of Indian export organisations (FIEO) to coordinate with all the councils and share the problems ‘with us and those issues can be discussed in weekly meetings with commerce, and finance’. FIEO Director General Ajay Sahai said that freight rates have jumped multiple times. He added ‘High freight rates are impacting the exporting community. We are at dis-advantageous position as compared to countries which are not getting impacted from the crisis’. The exporting community has urged the commerce ministry to intervene in freight rates as the shippers are charging huge amounts. The commerce ministry has also asked the ECGC not to increase the export credit interest rates. State-owned ECGC is an export promotion organisation, seeking to improve the competitiveness of Indian exporters by providing them with credit insurance covers.
The situation around the Bab-el-Mandeb Strait, a crucial shipping route for traders connecting the Red Sea and the Mediterranean Sea to the Indian Ocean, has escalated due to attacks by Yemen-based Houthi militants in December 2023. Because of this, the shipping costs have jumped and the consignments are taking more time to reach Europe and the US as the ships are taking the Cape of Good Hope route, encircling Africa. Longer routes are resulting in delays of about 14-20 days and also higher freight and insurance costs. Meanwhile, the country’s exports edged up 1 per cent to $38.45 billion in December 2023 while the trade deficit narrowed to a three-month low of $19.8 billion. Imports declined by 4.85 per cent to $58.25 billion in December last year due to a dip in crude oil shipments.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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