India has set an ambitious target of achieving $1 trillion in exports during the current financial year, Union Commerce and Industry Minister Piyush Goyal said on Monday.

The domestic share market erased early gains to close lower on Tuesday as banking, metal and financial shares dragged markets down.

China’s economy showed fresh signs of losing momentum at the start of the second quarter, with industrial production, retail spending and investment activity slowing sharply in April.

The Indian benchmark indices staged recovery on Monday, with Sensex and Nifty rebounding up to 1.5% from their respective lows.

The government on Friday imposed a windfall gains tax of Rs 3/litre on the export of petrol, while reducing the levy on diesel to Rs 16.5/litre .

Union Commerce and Industry Minister Piyush Goyal on Friday unveiled a proposal to create an integrated commerce hub in Mumbai that will bring multiple offices and organisations  under one roof to enhance efficiency,