Page 11 - Exports

Amazon India enabled nearly $8 bn in exports, created 1.3 mn jobs

Amazon had pledged to digitise 10 mn MSMEs, enable $20 bn in cumulative e-commerce exports and create 2 mn jobs in India by 2025. Amazon said it was well on track to fulfil these pledges

US trade deficit shrinks sharply as imports hit more than 1-1/2 year low

Imports drop 1.0%, goods imports decline 1.2%; exports dip 0.1%, goods exports decrease 0.1%

Services PMI at over 13-year high in July, helped by strong demand

Demand conditions show significant improvement leading to robust growth in India's dominant services sector

Bharat Biotech picks up 20% stake in Eastman Exports Global Clothing

The Bharat Biotech Group has picked up 20 per cent in Tamil Nadu-based knitwear firm Eastman Exports Global Clothing Private Ltd, for an undisclosed amount. A press release from Eastman Exports said it will use the new investment for capital expenditure, strengthening backward integration and customer acquisition among others. The funds will also help the company expand its presence in the global apparel industry, especially at a time when other countries are facing a slowdown and to capture the overall China Plus One Strategy of divesting manufacturing away from a single country. Managing Director of Bharat Biotech, Suchitra Ella said, We are fully committed to the Make in India strategy across industries. India is one of the few vertically integrated countries in cotton-based apparels, our vision is to grow this industry and support manufacturing from India to the world. Our vision of supporting rural and semi-urban communities, especially women is addressed through this ...

Telecom PLI: Companies clock Rs 6,911 crore exports till May 2023

Companies under the Production Linked Incentive scheme for local manufacturing of telecom and networking products have done exports worth Rs 6,911 crore till May 2023, Parliament was informed on Wednesday. Production Linked Incentive scheme was launched on February 24, 2021, to promote domestic manufacturing of specified telecom and networking products, including 4G, 5G products and also design-led manufacturing in the country. "The companies under the scheme have made an export of Rs 6,911 crore up till 31.05.2023," Minister of State for Communications Devusinh Chauhan said in a written reply to the Lok Sabha. He said the number of 5G Base Transceiver Stations (BTSs) by various telecom service providers totalled 2.81 lakh as of July 7, 2023. Chauhan also shared the operator-wise data for the same, which showed Airtel had 53,223 5G BTSs, Reliance Jio (2.28 lakh) and Vodafone Idea (36).

India pharma exports surging despite cough syrup deaths: Trade body

Two other cough syrups made in India killed 19 children in Uzbekistan around December, according to the Uzbekistan government

Commerce ministry looking at fixing export target in range for this fiscal

With the increasing global economic uncertainties, the commerce ministry is looking at fixing this fiscal year's export target in a range instead of a single figure, an official said. To set the target range, a detailed study on 200 countries and 31 commodity groups is in the process, the official said. The target range would depend on parameters such as the USD 1 trillion merchandise exports target by 2030; import to GDP ratio of importing countries; export to GDP ratio of India that will tell the potential and past trends. "We are not fixing any export target as a figure. In fact, my team has done an exercise, where we are saying that let us talk in terms of range. In the best scenario, the exports can be this much and in the worst scenario, it can be this much," the official said. For a monitoring purpose of exports every month, the official said a fixed number would be required and that could be a mid-value or an average may be accepted. The ministry has though fixed an intern

Developed economies under stress, there is demand slowdown: Goyal

The developed economies are under stress, and there is a demand slowdown in the world market, Commerce and Industry Minister Piyush Goyal on Monday said amid a dip in the country's exports. India's exports contracted by 22 per cent, the steepest decline in the last three years, to USD 32.97 billion in June on account of global demand slowdown, especially in the Western markets like the US and Europe. "Over the last two years, we have had record exports. Unfortunately, the world seems to be moving towards a recession. Developed economies of Europe and America are under stress, very often overstocked, seen softening of commodities and commodity pricing and demand. Similarly, discretionary spending is very lukewarm," he said at an event. The minister said that gems and jewellery, textiles, and leather goods, which are India's strength areas are currently under stress. "In this situation, it is incumbent on all of us to work as a team and make the India story, the compulsive story of t

We're starting manufacturing of networking equipment: Cisco's Chittilapilly

We have announced plans to start manufacturing in Chennai because our subcontractors have a presence there, said Daisy Chittilapilly, President, Cisco India and SAARC

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

Another China challenge

Export controls will affect high-tech businesses

India may not hit ambitious electronics export target for FY26, says ICEA

Electronics exports: Forget China, long way to go for India to catch up with Vietnam, Malaysia

Govt, retailers, Indian toy makers to discuss ways to promote exports

The government will hold discussions with global retailers and domestic toy manufacturers on ways to promote toy exports from India in a meeting on Saturday, an official said. The official said that top retailers, including Hasbro, Walmart, Spinmaster, Ikea, Lego, Simba Dickie, IMC, Hamleys, Lulu, and Sanrio, have been invited for the deliberations. Representatives from Indian companies such as Microplastic, Aequs, Funskool, Playgro, Dreampalst, OK Play, Universal, and Play Shifu are also expected to participate in the meeting. "The discussions will focus on establishing India as a preferred sourcing destination, highlighting the advantages and opportunities available to international companies looking to partner with Indian manufacturers," the official added. The round-table discussion is organised by the Toy Association of India (TAI), in collaboration with Invest India and the Department for Promotion of Industry and Internal Trade (DPIIT). This event brings together key indust

Amazon set to cross $8 bn in exports from India by 2023, up 60% YoY

These developments are in line with the company's target of crossing the $20-billion mark in exports by 2025. This has been doubled from its previous target

China move to curb chipmaking material exports escalates supply worries

China has hit the American trade restrictions where it hurts, said Peter Arkell, chairman of the Global Mining Association of China

Apple's 'China Plus One' key driver of Tamil Nadu's electronic export boom

Tamil Nadu posted almost a two-fold increase in electronic exports from $1.86 billion in 2021-22 to $5.37 billion in 2022-23

Seafood exports more than doubled since 2013-15: Union Minister Rupala

Seafood exports have more than doubled since 2013-14 and touched nearly Rs 64,000 crore last fiscal Union Minister of Fisheries, Animal Husbandry & Dairying Parshottam Rupala on Wednesday said. "While the seafood exports stood at Rs 30,213 crore in 2013-14, the same has increased to Rs 63,969.14 crore during FY 2022-23, an increase of 111.73 per cent in spite of pandemic-imposed challenges in global markets," an official statement said. Indian seafood is exported to 129 countries, with the largest importer being the US. "In fact, the value of the cumulative exports for the 9-year period of 2014-15 to 2022-23 stood at Rs 3.41 lakh crore as against Rs 1.20 lakh crore for the 9-year preceding 2014-15 i.e. the period 2005-06 to 2013-14," the statement said. The minister informed that during the last 9 years, the annual fish production of India has increased from 95.79 lakh tonne (at the end of 2013-14) to an all-time record of 162.48 lakh tonne (at the end of 2021-22) -- an increase ..

Handicraft exports likely to fall 6-8% in FY24 amid global market slump

Indian handicraft exports may witness a 6-8 per cent decline this fiscal to USD 3.3 billion, mainly due to a spending slowdown in global markets, a report said on Monday. A slowdown in discretionary spending in key global markets will drag the largely export-oriented Indian handicraft industry by 6-8 per cent lower to USD 3.3 billion this fiscal, after a decline of 20 per cent in FY23, Crisil Ratings said in a report. "Amid the slowdown in key export markets, Indian handicraft exporters will face increased competition from their Chinese counterparts post easing of Covid-19 curbs in China. Handicraft exporters will rely on lower pricing and extended credit to counter subdued demand, which may pull down operating profitability by 200-250 basis points to 12 per cent," Crisil Ratings Director Rahul Guha said. The industry derives almost 60 per cent of its sales from the US and EU, which are battling high inflation and recession fears. Together, these two regions make up a market of mor

Exports from Rajasthan surge by Rs 31,000 cr to Rs 77,771 cr in FY23

Exports from Rajasthan have increased by around Rs 31,000 crore in the last six fiscal years to Rs 77,771 crore in 2022-23. According to an official statement, shipments from Rajasthan were Rs 46,476 crore in 2017-18, which increased to more than Rs 77,771 crore in last fiscal year. Exports were Rs 51,178.41 crore in 2018-19 ; Rs 49,946.10 crore in 2019-20; Rs 52,764.31 crore in 2020-21; Rs 71,999 crore in 2021-22 and Rs 77,771.37 crore in 2022-23. The successful implementation of industrial policies, export promotion programmes and campaigns of the state government have given impetus to exporters and exports, the statement said. The state government's 'Export Promotion Process and Documentation Training Program Scheme' has contributed significantly in the increase in exports. Started in 2012, under this scheme, entrepreneurs who wish to make a career in the export sector are given information about export process and documents and world markets in training programmes. The statem

Centre withdraws draft live animal export Bill amidst stiff opposition

The Bill had drawn strong objections from animal rights activists, right-wing groups and Jain religious leaders