Export Sector

The government is framing schemes for MSME exporters to provide credit at easy terms, promote alternate financing instrument through strengthening factoring services for them, and offer assistance to deal with non-tariff measures imposed by other countries, an official said on Tuesday. The commerce, MSME and finance ministries are working on these schemes, Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi told reporters here. These schemes are being formulated under the export promotion mission, announced in the Union Budget for 2025-26. The schemes are expected to be rolled out in about 4-5 months, he said. The government on February 1 announced the setting up of an Export Promotion Mission with an outlay of Rs 2,250 crore to promote the country's outbound shipments. Finance Minister Nirmala Sitharaman has said through the mission, the government will facilitate exporters to get easy access to credit, cross-border factoring support, and support MSMEs to tackle non-ta

A series of measures announced in the Budget such as steps to boost exports, investments, and promote MSMEs will help accelerate the country's economic growth, international trade expert and Hi-Tech Gears Chairman Deep Kapuria said on Sunday. He said that the focus on agriculture will help in raising farmers' income and give a big boost to rural demand. The budget has made provisions for enhanced credit availability and clean tech manufacturing for the MSME sector and it is fundamental as this segment is responsible for 45 per cent of India's merchandise exports, Kapuria said. "This budget is aimed towards accelerating growth, securing inclusive development, and invigorating private investments," he added. The proposal for an Export Promotion Mission will facilitate easy access to export credit, cross-border factoring support, and support to MSMEs to tackle non-tariff measures in overseas markets. "Besides, a digital public infrastructure, 'BharatTradeNet' for international trade

The government has earmarked Rs 2,250 crore for export promotion schemes for 2025-26, down 17 per cent from Rs 2,718.73 crore allocated in the revised Budget estimates for 2024-25. According to the Budget document, allocation for Department of Commerce has dipped to Rs 5,300.99 crore for the next fiscal as against Rs 5,624 crore in the revised estimates (RE) for the ongoing fiscal year. Under export promotion schemes, no fund is allocated for market access initiative (MAI) and interest equalisation scheme. Though the scheme ended on December 31, 2024, the exporting community has been pitching hard for its extension. Now the government has announced plans to roll out an export promotion mission. "New scheme namely, Export Promotion Mission, has been formulated to act as a catalyst to facilitate India's export competitiveness," it said. Finance Minister Nirmala Sitharaman in her Budget speech on Saturday said that through the mission, the government will facilitate exporters to get

Nvidia's Finkle said the reported policy was disguised as an anti-China move

It is surprising that India has not followed this path even though there have been plenty of examples of export-led economic miracles from the 1950s closer home

The government on Monday extended benefits under the RoDTEP scheme for exports made from domestic tariff area (DTA) units for one year till September 30, 2025. The scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) provides for refund of taxes, duties and levies that are incurred by exporters in the process of manufacturing and distribution of goods and are not being reimbursed under any other mechanism at the centre, state, or local level. It was launched in January 2021 and was there till September 30. The Directorate General of Foreign Trade (DGFT) said in a notification that for Advance Authorisation (AA) holders, Export Oriented Units (EOUs) and Special Economic Zones (SEZs), the scheme is extended till December 31 this year. "The RoDTEP scheme is being extended for exports made from DTA units till September 30, 2025, and AA/EOU/SEZ units till December 31, 2024," it said. It added that the revised rates under the scheme are also notified for implementation

Apex exporters body FIEO on Tuesday urged the government to extend the interest subvention scheme for five years to help increase credit flow in the sector in order to boost the country's shipments, which registered a steepest decline in 13-month falling 9.3 per cent in August to USD 34.71 billion. Earlier this month, the government extended the interest equalisation/subvention scheme, which provides interest benefits, on pre- and post-shipment rupee export credit for one more month till September 30. "The scheme will end on September 30. We have requested for it to be extended for five years. If there is no interest equalization scheme, then we will lose some markets and some orders," Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai told reporters here. The scheme helps exporters from identified sectors and all MSME (micro, small and medium enterprise) manufacturer exporters to avail of rupee export credit at competitive rates at a time when the global .

The government's measures such as cutting certain port charges and purchasing additional container vessels by Shipping Corp will help boost export competitiveness, Chairman of the CII national committee on EXIM Sanjay Budhia said on Friday. He said that these initiatives will significantly benefit the Indian industry by easing export operations. "This move will reduce logistical bottlenecks, enhance cost efficiency for exporters, and improve the competitiveness of Indian goods in global markets," Budhia, who is also Managing Director of Patton Group, said. Industries will experience smoother trade flows, shorter delivery times, and lower costs, fostering growth in exports and making Indian products more attractive to international buyers, he added. The measures will also significantly improve export competitiveness by decreasing the overall costs involved in shipping goods and will help make Indian exports more competitively priced in international markets, Budhia said. "It would

India should sustain the momentum

The RBI move goes against the trend of allowing more flexibility and therefore, retrograde

The government on Friday extended export benefits under the RoDTEP scheme to companies in the special economic zones (SEZs) and export-oriented units (EOUs). The commerce ministry said that amid global economic uncertainties and supply chain disruptions, extending RoDTEP benefits to the uncovered sectors like AA (advance authorisation), EOUs, and SEZ units will help the exporting community in handling the international headwinds. "The government has announced the extension of the RoDTEP scheme support to additional export sectors i.e. Advance Authorisation holders, Export Oriented Units and Special Economic Zones export units," the ministry said. This decision comes in recognition of the significant contribution these sectors make to India's exports, constituting about 25 per cent of the total shipment. The government, in August 2021, announced the rates of tax refunds under the export promotion scheme -- Remission of Duties and Taxes on Exported Products (RoDTEP) -- for 8,555 ...

The commerce ministry has proposed revised election bye-laws for all export promotion councils (EPCs) including apex exporters' body FIEO, under which a chairman will hold office for two years and will not be eligible for the immediate next election. The revised model articles of associations/bye-laws for EPCs and Federation of Indian Export Organisations (FIEO) are required to be adopted by these bodies and conduct elections of their office-bearers. The model bye-laws have already been circulated to all these councils and organisations for adoption. This was proposed by a three-member panel set up by the ministry in May to review the eligibility criteria for the election to make them more inclusive and representative. It was reviewing the eligibility criteria for the election of office bearers of EPCs and FIEO. The panel reviewed the existing guidelines and made suitable recommendations about representation of different stakeholders in the managing committee and other posts. Afte

The US is spearheading a drive to reduce China's stranglehold over flows of these minerals, from rare earths to lithium and cobalt.

The commerce ministry's committee, which is reviewing the eligibility criteria for the election of office bearers of export promotion councils (EPCs) and apex exporters body FIEO, is expected to submit its report by end of this month, an official said. Exporters have urged the ministry for early release of the report so that elections can be conducted in the councils and Federation of Indian Export Organisations (FIEO) as per the new criteria. The official said that a draft report was circulated to the councils and suggestions have been sought. "We have received the feedback. The committee will review that and the report would be submitted to the higher authorities of the ministry," the official added. In May this year, the ministry decided to review the eligibility criteria for the election to make them more inclusive and representative. A three-member panel was constituted to review the existing guidelines and make suitable recommendations about representation of different ...

The Himachal Pradesh government has lifted the ban on export of wood from four tree species, namely safeda, poplar, bamboo and kuth (medicinal plant). No permit would be required for transportation of wood from these species within the state, said Chief Minister Sukhvinder Singh Sukhu in a statement issued on Sunday. Farmers in the state cultivate these species on a commercial scale and this decision of the government would facilitate them to a great extent. He said that the state government has also eased restrictions on the export of other forest products, including khair wood, katha, cedarwood oil, and various herbs, the statement further said. However, a valid permit from the forest department will be required to take these forest products out of the state, the statement added. The chief minister said the state government is considering to introduce the National Transit Pass System in Himachal Pradesh, enabling individuals to obtain various e-permits from the forest department,

With this acquisition company will gain access to low-cost duty-free locations for manufacturing.

As per the government's first preliminary estimates released in mid-April, services imports stood at $14.05 billion in March, while services exports were at $27.75 billion

Nissan Motor India on Thursday said its total wholesales rose by 20 per cent on a year-on-year basis to 6,746 units last month, aided by increase in exports. The automaker had dispatched 5,605 units in November 2021. The company saw a dip in domestic sales with 2,400 units last month, as against 2,651 units in November 2021. Exports increased to 4,346 units last month, from 2,954 units in the year-ago period. "Booking fulfilments have continued into November after the festive season, indicating that demand is benefiting from several positive indicators, such as improvement in economic activities and confident consumer sentiments. "Going ahead, stable demand from tier-I and tier-II cities is expected," Nissan Motor India Managing Director Rakesh Srivastava said in a statement.

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The government has again extended the last date for export of broken rice in transit by 15 days till October 15. It banned export of broken rice on September 8 but allowed shipments of certain consignments during September 9-15. On September 20, the date was extended till September 30. "Export of consignments of broken rice...as permissible under notification dated September 8 has beenextended till October 15, 2022," the Directorate General of Foreign Trade said in a notification.