Page 14 - Trade Exports

Post-pandemic, a double-digit surge in India's exports to Germany

The spike, which comes amid a recession in the European nation, is led by a surge in the sale of telecom instruments

Bikano eyes Rs 200-crore sales through export market, expects 40% growth

Bikano has curated its product lineup by offering numerous nutritious and delectable options that are free from preservatives

India's exports may hit $900 bn despite global headwinds in FY24: Exporters

Merchandise exports could expand to between $495 billion and $500 billion, while services exports could touch $400 billion in the year ending March 2024

India's exports to Latin America likely to be highest in a decade in FY23

Exports crossed $16 billion as of February; trade deficit shrinking from pre-pandemic levels

India's exports to UAE likely to grow by 60% to $50 billion by FY27

Officials expect exports to touch $50 billion during the same period

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

Supported by PLI, export of electronic products overtake garment exports

Data released by the commerce department estimates that the exports of electronic products may have increased over 50 per cent in the financial year 2022-2023 to $23.6 billion

Centre to come up with a single trade body to promote exports: Report

Last month, the Centre unveiled its new foreign trade policy (FTP 2023) setting a target of achieving $2 trillion in exports by 2030

Goods, services exports to cross $760 bn in FY23:, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Tuesday said the country's merchandise and services exports are estimated to cross USD 760 billion in the current fiscal ending March 31. Exports grew to USD 676 billion in 2021-22 from USD 500 billion. Speaking at the annual session of Assocham here, Goyal said that at a time when the whole world is facing recession, high inflation and elevated interest rates, India is performing well. Goyal stressed that over the last 9 years, the focus of the Modi-government has been on building the foundation blocks which are necessary for an economy to have many years of uninterrupted and sustainable growth. Various steps being take by the government are making India more cost competitive, be it the huge investment in infrastructure coupled with logistics, technological advancement, or the PM GatiShakti, he said. He also said the performance of India's global trade has proved the naysayers wrong. "I can say with great pride, happiness, and thank

China's biggest export hub struggles to stay afloat amid uncertainties

Located 50 km from Shanghai, Kunshan used to boast up to 30 per cent higher wages than other provinces, but now the companies there are cutting back their production amid the slowing economy of China

Samsung eyes expansion, planning to make India smartphone manufacturing hub

The South Korean electronics major plans to invest in setting up smart manufacturing capabilities at its second-largest mobile phone plant in Noida

South Korean exports to Japan expected to rise if ties normalise: Report

South Korean exports to Japan will rise 3.5 trillion won ($2.69 billion) this year if Seoul's export structure to Tokyo returns to the status it had in the 2017-2018 period

'Importers should ensure that certificate of origin is genuine'

Business Standard brings you the fortnightly Q&A on SMEs

Delhi airport becomes transshipment hub for export cargo from Bangladesh

Delhi airport is now a transshipment hub for export cargo from Bangladesh to other countries and the first batch of transhipment cargo will leave for Spain on Sunday. The airport's operator DIAL said the cargo transshipment via Delhi will cost manufacturers and suppliers significantly less as compared to other routes. On February 7, DIAL received the government's approval for the airport to serve as a cargo transshipment hub between Bangladesh and other global destinations for export cargo. The first batch of cargo, which left Dhaka on February 26 arrived at Delhi airport on Friday and will leave for its destined location in Spain on March 5, DIAL said in a release. The transshipment cargo will reach from Dhaka to Delhi, via the Bangladesh-India border at Benapole-Petrapol. "Once the cargo leaves the Petrapol border after all security checks, the manufacturers will be able to track their shipment throughout its journey, including its arrival at the Delhi airport, during security .

Rajasthan is aiming to become a major exporting state: REPC Official

Rajasthan is aiming to become a major exporting state in the coming years, an official of the Rajasthan Export Promotion Council (REPC) has said. The state had exported goods worth Rs 72,000 crore in 2021-22, out of which 11 per cent were handicraft items, REPC Chairman Rajiv Arora said. "The current fiscal is very turbulent due to geopolitics for which freight costs have risen exorbitantly. But we are expecting that exports from the state in 2022-23 will be around Rs 82,000 crore," Arora said. In its first international EXPO at Jodhpur on March 20-22, the REPC will showcase the state's products like handicrafts, textiles, garments, agricultural products, spices, stone and marble ware, he said here on Wednesday. The state is laying focus on the MSME sector, Arora said adding that the government has decided to give interest subvention for projects up to Rs 50 crore. The state government has also stated in its industrial policy that incentives will be given for asset creation. Besid

Luxury carpet brand Obeetee eyes Rs 1,000 crore turnover in FY24

While Obeetee operates at the high-end, Chatterjee believes that there will be opportunities for players across the segments

Exports dip by 6.58% in Jan; trade deficit lowest in 12-months at $17.75 bn

Contracting for the second month in a row, India's exports dipped by 6.58 per cent to USD 32.91 billion in January due to slowdown in global demand, even as the trade deficit touched a 12-month low of USD 17.75 billion during the month, according to official data released on Wednesday. Imports in January too contracted by 3.63 per cent, the second consecutive month, to USD 50.66 billion. Cumulatively, however, during April-January 2022-23, the country's merchandise exports rose 8.51 per cent to USD 369.25 billion, while imports increased 21.89 per cent to USD 602.20 billion, the data showed. The merchandise trade deficit for the April-January this fiscal stood at about USD 233 billion. The country's exports had contracted by 12.2 per cent to USD 34.48 billion in December 2022. Last time, it was in January 2022, when the trade deficit touched USD 17.42 billion. Export sectors that recorded negative growth during the 10-months period of this fiscal include engineering goods, iron o

India's merchandise trade deficit in January down at $17.75 billion

January merchandise exports were $32.91 billion compared with $34.48 billion in December, while imports were at $50.66 billion against $58.24 billion in December, according to government data

IFSCA lays foundation to strengthen ship financing, leasing in India

In a bid to boost maritime trade, International Financial Services Centres Authority is taking steps to strengthen ship acquisition, financing and leasing in India, a senior official said on Friday. IFSCA, a statutory authority with a mandate to develop and regulate financial products, services and institutions in the International Financial Services Centres, has constituted a committee on the development of avenues for ship acquisition, financing and leasing activities from IFSC in India, she said. "We have identified legal and regulatory provisions which are conflicting with each other in laws and have a bearing on different types of ship financing," IFSCA Committee on Ship Acquisition chairperson Vandana Aggarwal told PTI. With the changes, ship financing is expected to witness a similar boom as seen in aviation financing, she said. The committee has already submitted its report and the implementation of the recommendations is a work in progress, a senior official said. Around

2023 to be tough on trade as global economies will slow down: GTRI to Govt

Announcement of measures like quick refund of duties, resolving inverted duty issues and bringing exports through post and courier at par with standard customs clearances in the forthcoming Budget