Exports Growth

India's merchandise exports surge 17% in Oct, fastest pace in 28 months

Trade deficit widens to $27 bn as imports hit a high

India closing the gap in smartphone exports as China, Vietnam slows down

India has absorbed nearly 50 per cent of the decline in mobile phone exports from China and Vietnam, although China remains the leading exporter of mobile phones

Exports to close fiscal at same level as FY23-24 amid uncertainties: Goyal

Commerce and Industry minister Piyush Goyal has exuded confidence that during this fiscal, the country's goods and services export numbers will be at the same level; as it was last year despite slowdown and uncertainties in the global trade. He also said that the government measures such production-linked incentives schemes and focus on high-quality goods and services would help in containing the country's trade deficit. So our trade deficit will be significantly lower than last year. "I am happy to share with you that we close the current year in March at the same level as last year. We have a little bit of an adjustment between goods and services, but collectively we will be at the same level as last year, which will be a very, very significant achievement given that most developing countries and less developed countries are seeing a fall in their international trade," Goyal told PTI in an interview. Cumulatively, the country's merchandise exports in April-January 2023-24 contrac

Exports up 3.12% to $36.92 bn in Jan, trade deficit at 17.49 bn: Govt data

The country's exports increased 3.12 per cent on-year to USD 36.92 billion in January, according to the data released by the government on Thursday. Imports rose by about 3 per cent year-on-year to USD 54.41 billion in January this year. Trade deficit in January, 2024 stood at USD 17.49 billion. During April-January this financial year, exports dipped by 4.89 per cent to USD 353.92 billion. Imports slipped by 6.71 per cent to USD 561.12 billion. Commerce Secretary Sunil Barthwal said despite global uncertainties, "we have" recorded positive growth.

Honda Motorcycle domestic overall sales rise 42% to 419,395 units in Jan

Exports grew a whopping 102 per cent year-on-year at 36,883 units in the previous month, it stated

India electronics exports to US jump two-fold to $6.6 bn in Jan-Sep 2023

Electronics exports from India to the US jumped over two-fold year-on-year to USD 6.6 billion during January-September 2023, industry body ICEA has said. India Cellular and Electronics Association Chairman Pankaj Mahindroo told PTI that this is an all-time high electronics export from India, while the share of electronics imported from China into the US market has declined. "Recent data highlights a notable surge in India's electronics exports to the US, which increased by approximately 253 per cent to an estimated USD 6.6 billion in the current year (January-September), compared to an estimated USD 2.6 billion in the same period last year," Mohindroo said. According to data shared by ICEA, India's electronics exports to the US increased by more than 300 per cent from an estimated USD 1.3 billion in 2018 to an estimated USD 4.5 billion in 2022. The bilateral electronics trade between India and the US has also seen an impressive rise of 84 per cent, with the current estimate standin

AEPC sets $40 bn exports target by 2030, aims to explore new destinations

Apparel exports are expected to reach USD 40 billion by 2030 on account of initiatives such as exploring new destinations and fostering strategic partnerships, AEPC said on Friday. Apparel Export Promotion Council of India (AEPC) Chairman Naren Goenka said that to achieve this target, the council will focus on innovation, expanding market and product basket, practice sustainability and responsible business practices. "We have set an ambitious goal of achieving apparel exports of USD 40 billion by the year 2030. This target, aptly named '40 by 30' reflects our commitment to reaching new heights and pushing our limits in the ongoing decade," he said in a statement. He also said that Commerce and Industry and Textiles Minister Piyush Goyal will present exports awards to ready-made garment exporters on December 9 here. The awards recognize contributions made by Indian apparel exporters in building modern enterprises. "Apart from adding to the growth of our international trade, these .

High cotton prices may impact exports in 2022-23 marketing year: CAI

Cotton exports are estimated to decline 64 per cent in 2022-23 marketing year ended September due to higher prices of the commodity in the domestic market, Cotton Association of India (CAI) said on Monday. The cotton marketing year begins from October. Cotton export during 2021-22 marketing year was 43 lakh bales which fell to 15.50 lakh bales in 2022-23, according to CAI data. "The plunge in exports to 15.50 lakh bales in 2022-23, is mainly due to higher cotton prices in India, which was much higher than the global prices, during October till March. The high prices have impacted cotton exports from India," CAI President Atul Ganatra told PTI. Cotton imports are also expected to decline in 2022-23 by 2.50 lakh bales to 12.50 lakh bales following higher import duty, Ganatra added. Meanwhile, CAI has estimated cotton pressing numbers for 2022-23 season at 318.90 lakh bales as against its forecast of 311.18 lakh bales in the previous month. In 2021-22, the total cotton pressing stood

RoDTEP issues must be addressed quickly

The RoDTEP scheme was introduced in September 2021 for exports made with effect from January 1, 2021

Retail inflation soars to 15-mnth high; exports contract for sixth month

Prices of vegetables, led by tomatoes, shot up 37.3 per cent annually in July, while pulses, cereals, and spices witnessed double-digit inflation

Exports see sharpest decline in 3 years; trade deficit narrows to $20.1 bn

Outbound shipments drop 22% to $33 bn; imports decline over 17% to $53 bn

Missed opportunity: India far behind in race for electronics exports to US

India's failure to grab the opportunity is reflected in the fact that its share of US electronics imports was an abysmal 0.8 per cent in 2022

CHATROOM: 'No assent needed to re-export goods imported under IGCRS'

There is no requirement under FEMA that you must have an IEC before receiving advance payment for exports

India's exports growth momentum will have to come from its states

They can utilise opportunities for greater market access generated by free trade agreements

Unwelcome reminder

Trade weakness would affect growth

Export momentum dissipating but new opportunities opening up

Speculation on what the new Foreign Trade Policy, to be unveiled this month-end, may contain has engaged the attention of exporters and importers

Govt's decision to withdraw MEIS incentives set to hit textile exporters

The government has removed the benefit of 4 per cent Merchandise Exports from India Scheme on exports of made ups and garments with retrospective effect, that is, from March 7, 2019

Petroleum products, engineering goods drive India's export growth

Exports of petroleum-related products also grew at a higher rate of 7.8 per cent during 2019.

Piyush Goyal meets export bodies to seek inputs for foreign trade policy

Pre-Budget inputs from EPCs were also taken so that they may be sent to the finance ministry

Govt reveals slew of measures to increase export credit to 30% in FY20

The commerce department clarified that the ECGC would cover not only outstanding principal of loans but also unpaid interest