Export

Several Middle Eastern and Asian economies, including China, Pakistan, and Iran, are turning to barter trade to avoid the impact of secondary sanctions

Expressing concern over decline in export promotion funding, economic think tank GTRI said on Saturday said the government should consider allocating Rs 2,500 crore for exporters to participate in global exhibitions under the Market Access Initiative (MAI), which has not received any funds this fiscal. It said that exporters have missed critical opportunities between April and August to participate in overseas fairs. "With a modest budget of only Rs 250 crore in past years, the scheme was already too small for a USD 440 plus billion export economy. It must be revived with a scaled-up budget of Rs 2,500 crore annually, with funds released at least a year in advance to allow Indian firms to secure high-visibility slots at global fairs," Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. He also called for resumption of Interest Equalisation Scheme (IES), immediate roll out of the Export Promotion Mission (EPM), and E-commerce Export Hubs to boost exports amid 50 pe

Carmaker posts Rs 3,792 crore profit in Q1 FY26 as exports to Japan and others rise 37%, softening the impact of a 4.5% domestic sales decline

Indian public sector companies are 'working out the implementation of the investments' in the Latin Amercian country to produce, refine, and export minerals, the MEA said

Smartphone exports during the 10 months leading up to January were 56 per cent higher than the Rs 991.2 billion recorded in the same period of FY24

Scheme in works to help MSMEs access credit without collateral; aims to support 100,000 exporters

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

This positive trend comes after consecutive years of decline, with exports falling by 26 per cent in FY23 and 17 per cent in FY24

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

UNCTAD data show that while digitally deliverable services account for 56 per cent of services exports worldwide, that share is just 20 per cent in least developed countries (LDCs)

During the first six months of the current financial year, India exported goods worth $2.87 billion to South Korea, while imports stood at $10.62 billion

Rise has occurred over past 2 days, pushing stock to a 70-month high

The government has been pushing to promote project exports and sees it as a next big opportunity

Chief Economic Advisor V Anantha Nageswaran on Thursday advised India Inc not to seek protective cover of weak currency as it is not a substitute for productivity and investment in research and development. A weak currency can be good for exporters, making their products relatively less expensive for buyers abroad. Nageswaran further said the reliance on weak currency should not be instrumental to boosting exports, "if anything, it should be part of the policy arsenal to be deployed contextually, but not as a substitute for productivity, investment in R&D and quality, but as a complement at best". Nageswaran further said the reliance on weak currency should not be the answer, if anything it should be part of the policy arsenal to be deployed contextually, but not as a substitute for productivity, investment in R&D and quality, but as a complement at best. "We should not be thinking about in terms of the transformation of competitiveness, which is to continuously expect the ...

Three-month aluminium on the London Metal Exchange soared as much as 8.5% to $2,730 a metric ton and was up 6.1% at $2,670 in official open-outcry trading

EVs to play a key role in reaching 850,000 units in exports by 2030-31

One cannot escape anti-dumping duty by filing advance bill of entry if the anti-dumping notification is issued before grant of entry inward for the vessel

The government on Wednesday removed the minimum export price (MEP) of USD 490 per tonne on overseas shipments of non-basmati white rice, a move aimed at promoting shipments of the commodity. On September 28, the government withdrew a blanket ban on overseas shipments of non-basmati white rice and imposed the floor price. "The requirement of MEP for the export of non-basmati white rice...has been lifted with immediate effect," the Directorate General of Foreign Trade (DGFT) said in a notification. The government had imposed a ban on exports of non-basmati rice exports on July 20, 2023. These measures came at a time when the country has ample stock of rice at government godowns and retail prices are also under control. Earlier, the government scrapped the minimum export price for basmati rice to boost outbound shipments and enhance farmers' income. The country exported non-basmati white rice worth USD 201 million during April-August this fiscal. It was USD 852.52 million in ...

The government on Wednesday notified the policy conditions for exports of sesame seeds to the US. The new rule will come into effect from November 16 this year. The Directorate General of Foreign Trade (DGFT) in a notification said that the India Oilseeds and Produce Export Promotion Council has been designated as the authority to issue the export certification. "Policy conditions for the export of sesame seeds to the US have been notified," it said. In a separate notice, the DGFT notified the procedure for filing of annual Remission of Duties and Taxes on Exported Products (RoDTEP) return. 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 said that non-reporting of the ARR (annual RoDTEP return) will lead to denial of benefit

After smartphones, exports of personal computers including laptops have emerged as a key electronic item shipments from India during April-August this fiscal, according to the commerce ministry data. The exports of personal computers have recorded healthy growth in five destinations- the UAE, Russia, Bangladesh, the US, and Sri Lanka. The exports of laptops to the top five markets - increased to USD 102.6 million in April-August from just USD 37 million in the same period of the previous year, the data showed. The government's support to personal computer manufacturing through Production Linked Incentive (PLI) and other measures like ease of doing business have supported this growth. The biggest market for laptops, palmtops and handhelds is the United Arab Emirates (UAE) which imported USD 64 million worth of these devices in the first five months of the current fiscal. Last year during the same period exports were USD 29.7 million. The exports to Russia increased to USD 20.4 mill