Page 9 - Export

India's economic activity signals resilience even as exports dim outlook

India's economic activity stayed resilient in March though the weakening pace of exports and an increase in unemployment dimmed the outlook for the country that's surpassing China as the most populous

Merchandise exports may cross $500 bn this fiscal due to healthy demand

The country's merchandise exports are likely to cross USD 500 billion this fiscal due to healthy demand for domestic goods in key global markets, including the US, and benefits from trade pacts, according to exporters. They said that other destinations like Russia would give a huge boost to the country's outbound shipments, particularly in the agri and food processing sectors. Federation of Indian Export Organisations (FIEO) said they are targeting to take the shipments to USD 500 billion-510 billion during the current financial year. Services exports are likely to reach around USD 390 billion in 2023-24 from USD 322.72 billion in 2022-23. "Together with goods and services, we are targeting exports of USD 900 billion this fiscal," FIEO Director General Ajay Sahai said. He noted that free trade agreements with the UAE and Australia would provide a huge platform to boost exports in those markets. "Production-linked incentive scheme too will provide an impetus to our exports as dome

Quest for value chains and exports

There are critical shortcomings in India's export policy that need to be tackled to expand its share of goods trade. Here are three suggestions that merit consideration

Chatroom: Replacement part can be imported under EPCG scheme for spares

There is no stipulation that a free replacement must come only after re-export of the wrong shipment

New trade policy continues with old schemes

The new policy gives no specific period for its validity or any expiry date, but it can be amended anytime

The dynamism of services exports

Funding research in a set of autonomous or private knowledge organisations will help

Domestic demand to drive textile sector growth in FY24: CRISIL SME Tracker

In FY24, cotton yarn prices are projected to fall almost 15 per cent due to a high base and subdued export demand. This is expected to hurt price realisation

New foreign trade policy may not bank on incentives to boost exports

Set to be unveiled on Friday, it is likely to focus on export hubs, e-com

Govt slashes windfall tax on diesel to Rs 0.50 per litre, nil on ATF

The government slashed windfall profit tax on export of diesel to its lowest of Rs 0.50 per litre and nil on jet fuel (ATF) while the levy on domestically produced crude oil was marginally increased, according to an official order. The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) has hiked to Rs 4,400 per tonne from Rs 4,350 per tonne, the order dated March 3 said. Crude oil pumped out of the ground and from below the seabed is refined and converted into fuels like petrol, diesel and aviation turbine fuel (ATF). The government has also cut the tax on export of diesel to Rs 0.5 per litre from Rs 2.5, and the same on overseas shipments of ATF was cut to nil from Rs 1.50 a litre. The new tax rates come into effect from March 4, the order said. This is the second reduction in rates in a fortnight. Rates were cut on February 16. The export levy on diesel and ATF is the lowest since the tax was introduced in July last year. The tax rates are .

We will import energy models of the UK to India: Hero Future Energies CMD

HFE aims at conservative growth; favours quashing of reverse bidding in solar energy

Current account deficit may fall in Dec quarter as net exports ease

In the September quarter, CAD touched a nine-year high at 4.4 per cent from 2.2 per cent in the June quarter as the negative net exports shot up to $50.3 billion from $36.3 billion

Strong demand outlook likely to power Cummins India's growth

While valuation is not cheap, positive brokerage views to support stock

With focus on non-US geographies, Amneal Pharma eyes India market

The company is actively recruiting its field force, and aims to have 600-700 medical representatives by the end of 2023

Foreign trade policy to focus on long-term strategy to boost exports

Final call on announcement of the policy will be taken by March-end

Germany's exports, imports up in 2022 amid energy crisis, high inflation

Germany's imports and exports both increased year-on-year in 2022 amid the energy crisis and high inflation, according to preliminary figures published by the Federal Statistical Office (Destatis)

Union Budget 2023-24: Push for ELS cotton yield to reduce imports

ELS cotton usually comprises those that are 32-36 mm

Unfinished agenda: Pain points and what's on offer in Budget 2023

An agriculture accelerator fund has been announced. It is aimed at encouraging start-ups by entrepreneurs in rural areas

JSW Steel sees exports at more than 10% of 2022-23 sales, says official

His comments come after JSW, India's largest steelmaker by capacity, on Friday reported an 89% fall in profits for the quarter ended Dec. 31, hurt by a 56% slump in exports

Foreign shipping lines may stop services for cash-strapped Pakistan

The ship agents have forewarned the cash-strapped Pakistani govt that all export cargoes could come to a halt as foreign shipping lines are considering stopping services

Top headlines: New export obligation defaults scheme, banks seek exemptions

Business Standard brings you the top headlines at this hour