India Exports

India PC shipments up 3.8% at 14.4 mn in 2024, HP leads with 30% share: IDC

Shipments of personal computers grew 3.8 per cent on a year-on-year basis to 14.4 million driven by demand for gaming and AI-powered PCs, market research firm IDC said on Monday. IDC India, South Asia and ANZ, associate vice president for devices research, Navkendar Singh said the weakening rupee can lead to an increase in device costs, which can impact the price-sensitive SMB (small and medium businesses) and consumer segments but despite all challenges, the India PC market is most likely to witness a low single-digit growth in 2025. The growth in the Indian consumer PC market has been on an upward trajectory, driven by gaming and AI-powered PCs. HP led the market with 30.1 per cent market share in 2024 and 30 per cent share in the December quarter despite a decline of about 1 per cent in annual and 1.8 per cent in quarterly supplies, as per IDC estimates. Lenovo and Dell followed HP with market share of 17.2 and 16.1 per cent in 2024 with year-on-year (YoY) growth of 7.3 per cent

India's dependency on China upstream imports on the rise: McKinsey report

India's exports to China are declining, suggesting an emerging asymmetrical trade relationship between the world's two largest developing economies

India's exports to US increase 39% to $8.44 bn in January: Govt data

India's exports to the US rose by 39 per cent year-on-year to USD 8.44 billion in January, while imports grew by 33.46 per cent to USD 3.57 billion, according to the commerce ministry data. Cumulatively, the country's exports to the US during April-January grew by 8.95 per cent to USD 68.46 billion against USD 62.84 billion in the same period previous fiscal, the data showed. During 2021-24, America was the largest trading partner of India. The US is one of the few countries with which India has a trade surplus. In 2023-24, the US was the largest trading partner of India with USD 119.71 billion bilateral trade in goods (USD 77.51 billion worth of exports, USD 42.19 billion of imports and USD 35.31 billion trade surplus). The increasing trade assumes significance as the two countries are aiming at USD 500 billion two-way commerce by 2030 and a trade agreement.

Govt to focus on 20 countries, six focus sectors to boost exports

The government has identified 20 countries such as Australia, Brazil, China, and France, and six focus sectors each in commodities and services to further increase India's exports, Parliament was informed on Tuesday. In a written reply to the Lok Sabha, Minister of State for Commerce and Industry Jitin Prasada said a meeting with the officers of the commercial wings of Indian Missions in these 20 countries was organised last month to enhance exports. "The government has recently identified 20 countries of significance and 6 focus sectors each in commodities and services," he said. The 20 countries are Australia, Brazil, Bangladesh, China, France, Germany, Indonesia, Italy, Japan, the Netherlands, Russia, Singapore, South Africa, Saudi Arabia, South Korea, Trkiye, UAE, UK, the US and Vietnam. He added that the meeting focused on exploring strategic solutions for fostering multilateral trade collaboration and streamlining operational and logistical barriers to trade. "A set of ...

No export of raw materials, value addition must happen in India: PM Modi

Prime Minister Narendra Modi on Tuesday said he cannot accept raw materials getting exported and finished products being shipped into the country, asserting that value additions must happen here. Inaugurating the 'Utkarsh Odisha, Make in Odisha Conclave' in Bhubaneswar, Modi said he considers eastern India as the growth engine of the country, and the state plays an important role in it. "The country's development is not possible only by exporting raw materials. Therefore, we are changing the entire ecosystem and working with a new vision," he said. "The minerals are extracted here and they are exported to some other country where value addition is done and new products are made. These finished products are then sent back to India. This trend is not acceptable to Modi," he added. The PM said the aspirations of crores of people were driving India's movement on the path of development. "Today, India is moving on a path of development driven by the aspirations of crores of people. Thi

Trade deficit eases to $21.94 billion in December as gold imports fall

Data showed merchandise exports contracted by 1 per cent year-on-year to $38.01 billion in December

DGFT updates export policy for every product to promote ease of doing biz

The Commerce Ministry's arm DGFT on Monday updated the export policy for all products, specifying detailed conditions for each item to enhance the ease of doing business in the country. Earlier specific policy conditions were only outlined for goods which were subject to certain restrictions or fell under some norms. "Schedule-II (Export Policy)' in sync with Finance Act 2024 dated August 16, 2024, has been notified," the directorate general of foreign trade (DGFT) said in a notification. The updated schedule contains the current export policy of all ITC (HS) codes, along with specific policy conditions (if any) to be fulfilled, it added. An official said this would help in knowing policy conditions for all the products. In international trade parlance, every product is categorised under the Indian Trade Classification (Harmonised System) - ITC (HS). It helps in the systematic classification of goods across the globe.

We aim to boost organic product exports to Rs 20,000 cr in 3 years: Goyal

India has the potential to increase exports of organic products up to Rs 20,000 crore in the next three years, Commerce and Industry Minister Piyush Goyal said on Thursday. He said this while releasing the eighth edition of National Programme for Organic Production (NPOP) with new regulations aimed at enhancing clarity and transparency in organic product standards as well as aligning with global standards. "Currently, our organic product exports are at Rs 5,000-6,000 crore. In the next three years, we can easily achieve Rs 20,000 crore exports, about 3-3.5 times increase from the current level," Goyal said at an event organised in partnership with industry body Ficci. He said the global demand for these products is about Rs 1 lakh crore, which can grow up to Rs 10 lakh crore in the coming years, a unique opportunity India should not miss. India already has one of the largest numbers of farmers in the world undertaking organic farming. He also asked startups to come out with soluti

Not a great start for India's importers and exporters in the New Year

Donald Trump, who will take over as President of the United States, has threatened to hike import tariffs across the board, and impose high tariffs on imports from China, Canada, Mexico and India

Govt's export arm EIC plans to expand food testing infra to boost exports

The commerce ministry's arm Export Inspection Council (EIC) is planning to expand the country's food testing infrastructure in a holistic way to boost outbound shipments, a senior government official said. To prepare a plan for this, the EIC has initiated a detailed study on gap assessment on food testing infrastructure for exports. "Though we have taken a number of measures, we are doing a more deeper analysis commodity and area-wise. We are trying to find out gaps in our food testing infrastructure. We hope that the study will be over in 2-3 months and after that we will come up with a full plan of how to expand our infrastructure in a more holistic way," Joint Secretary in the Department of Commerce Nitin Kumar Yadav told reporters here. EIC is an advisory body to the central government. It notifies commodities which will be subjected to quality control or inspection prior to export; establish standards of quality for such notified commodities, and specify the type of quality ...

India's goods, services exports likely to cross $800 bn in 2024: GTRI

India's overall exports of goods and services in 2024 has estimated to cross USD 814 billion, an increase of 5.58 per cent, according to a report by economic think tank Global Trade Research Initiative (GTRI). In 2023, the country's merchandise and services exports stood at USD 768.5 billion. This year, the report estimated that in 2024, merchandise exports are expected to reach USD 441.5 billion, showing a modest 2.34 per cent increase over USD 431.4 billion in the previous year. In contrast, the services exports are estimated to grow by 10.31 per cent to USD 372.3 billion, up from USD 337.5 billion in 2023. "India's total exports, encompassing merchandise and services, are projected to exceed USD 814 billion in 2024, reflecting a 5.58 per cent growth compared to USD 768.5 billion in 2023," it said. GTRI Founder Ajay Srivastava said India's export landscape is undergoing a transformation that highlights both opportunities and vulnerabilities. Sectors such as machinery and electr

India targeting Russia to boost banana exports to $1 bn: APEDA chairman

After successfully exporting trial shipments of fresh bananas to countries like the Netherlands through sea route, India is now targeting to increase exports of the fruit to Russia, an official said on Monday. India has set a target of USD 1 billion banana exports in the coming years. At present, exports of most of the fruits, including banana, from India are happening by air route because of lower volumes and different ripening periods. To increase vo?lumes, India is developing sea protocols for fresh fruits and vegetables like bananas, mangoes, pomegranates, and jackfruit to promote their exports through ocean routes. The Agricultural and Processed Food Products Export Development Authority (APEDA), along with other stakeholders, has developed these protocols for bananas. APEDA is an arm of the commerce ministry. "We are targeting Russia to increase banana exports. We are going to participate in buyer-seller meets in Russia," APEDA Chairman Abhishek Dev said. He said India expor

India's exports to Australia up 64.4% in Nov: Commerce ministry data

India's exports to its trade agreement partner Australia rose 64.4 per cent year-on-year to USD 643.7 million in November on account of healthy growth in sectors such as textiles, chemicals and agricultural products, according to the commerce ministry data. However, the country's merchandise exports recorded a decline of 5.21 per cent year-on-year to USD 5.56 billion, the preliminary data showed. India and Australia implemented an interim trade pact -- Economic Cooperation and Trade Agreement (ECTA) -- on December 29, 2022 and are now in negotiations to widen the scope of the pact. On the completion of two years of ECTA, Commerce and Industry Minister Piyush Goyal said the agreement has brought with it increased market access for Indian exporters, expanded opportunities for MSMEs and farmers, and generated several employment avenues. It has also enabled growth in exports by 14 per cent in 2023-24; notable boost in IT/ITeS, business and travel services; and port-study work and work

Recovery in markets, focus on key products boost export prospects for 2025

India's growing capabilities in high-value sectors like machinery and electronics are supporting the country's exports, amid global uncertainties caused by conflicts, and the gradual economic recovery in developed markets offers improved growth prospects for the Indian exporting community in 2025. Trade experts suggest that if the new US administration imposes higher tariffs on China, Mexico, and Canada, Indian exporters could benefit further by seizing those opportunities. They noted that the possible intervention of the new US administration under Donald Trump to end the Russia-Ukraine conflict could ease the Red Sea crisis, streamline global supply chains, and reduce shipping costs for traders. However, Trump's threat for reciprocal tariffs on Indian goods may have an impact on the country's outbound shipments, as additional duties affect exporters' competitiveness. The European Union's green regulations, including the Carbon Border Adjustment Mechanism (CBAM) and deforestation

WT-ECIB scheme likely to benefit 1,000 new small exporters, says govt

The ECGC is aiming to reduce the export credit gap through the WT-ECIB scheme, which is expected to benefit about 1,000 new small exporters, in addition to the existing 8,000-odd by facilitating the availability of adequate and affordable export finance from banks for working capital, an official statement said. The commerce ministry in its 2024 year-end review said that the Export Credit Guarantee Corporation of India (ECGC) has extended the scope of its Whole Turnover Export Credit Insurance for Banks (WT-ECIB) scheme to export credit working capital limits up to Rs 80 crore with effect from July 1. "ECGC aims to improve the export credit offtake for MSME exporters and reduce the export credit gap through this scheme, which is expected to benefit around 1,000 new small exporters, in addition to around 8,000 existing exporters," it added. It also said that the India-Sri Lanka Economic and Technology Cooperation Agreement (ETCA) negotiations are ongoing with the 14th round of ...

Govt needs to properly monitor export promotion scheme EPCG: CAG report

The commerce ministry needs to properly monitor the scheme to promote exports, EPCG, as it not only allows duty-free imports of capital goods but also grants a long gestation period for meeting the export obligation, according to a CAG audit report. The scheme allows import of capital goods for pre-production, production, and post-production at nil customs duty but subject to meeting export obligations. The report also said the import of capital goods from ports other than the registered port without adhering to the prescribed procedure involves the risk of importing the goods from multiple ports using the same authorisation that have revenue implications and has the risk of misuse of the bonds. The customs and regional authorities should monitor such cases scrupulously and invoke penal action for non-compliance, CAG said in a statement. It has presented the performance audit report on the scheme in Parliament. "The scheme not only allows duty-free imports of capital goods but als

Mexico, Canada, Asean gained more from US-China trade war than India: GTRI

Mexico, Canada, and 10-nation Southeast Asian bloc ASEAN benefited more from the US-China trade war than India, economic think tank GTRI said in a report. It said that India has to strengthen its local supply chains and produce critical intermediates to reduce reliance on China, while improving cost efficiency and ease of doing business to enhance competitiveness of domestic industries and increase exports to the US. With Donald Trump again becoming the US President, the evolving trade landscape offers huge opportunities for the Indian industry as he is now planning new tariffs targeting Mexico, Canada, China, and others. The US-China trade war, initiated in 2018 under President Trump with tariffs targeting key sectors, has significantly reshaped global trade flows but failed to achieve its primary goals. "Key beneficiaries of the trade war included Mexico, Canada, and ASEAN nations, which collectively accounted for 57 per cent of the growth in US imports. India also emerged as a

'Should not be concerned much about imports as long as exports' grow'

India should not be overly concerned about imports as long as exports' share continues to grow, Commerce Secretary Sunil Barthwal said on Thursday. He also said the world needs to avoid protectionism which creates more trade barriers and hinders movement of goods. The secretary said that one needs to avoid the mercantilist approach and should not bother too much about trade balance and imports. "Because if the Indian economy is growing at 7 per cent and if the world is growing at 3-3.5 per cent rate of growth then obviously India will be requiring more of consumption, more of imports and let me tell you that the role of imports in exports is also very very important," he said at a CII event. Imports of raw materials and intermediate products are essential, he said. "As long as we are able to improve our exports share, we should not be too much concerned about imports and that is what I feel that we need to avoid," he added. Further, Barthwal said developed countries are confused

Asia's jet fuel imports from India to hit multi-yr high in Nov, shows data

Indian aviation fuel arriving in hubs including Singapore, Hong Kong and Malaysia will probably hit around 2.7 million barrels in November, up at least 40% from October

PM Modi visits Guyana: Why South American nation is crucial to India

South American nation has become a significant contributor to world crude supply