Page 11 - Exports

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

India's economic activity is humming along even with still-high rates

The needle on a dial measuring the so-called Animal Spirits stayed at six for a second month even as some indicators such as exports and tax collections showed signs of weakness

Top headlines: Byju's sacks staff, Zee Ent terms Sebi's order unjustified

Business Standard brings you the top headlines at this hour

Pakistan loses $7.15 billion due to shrinking exports, remittances

Pakistan has lost $7.15 billion on account of shrinking exports and remittances during the first 11 months of the Financial Year (FY)-23, Dawn reported.

Need sectoral strategies to enhance export competitiveness: IIPMB Director

There is a need to develop sectoral strategies for enhancing export competitiveness, especially for electronics, engineering, pharmaceutical, and high-tech industries with a view to increase India's outbound shipments to USD 2 trillion by 2030, a trade expert said on Tuesday. To achieve the target of USD 2 trillion in services and goods exports by 2030, India requires an export growth of 14.5 per cent per annum. "Competitiveness across the exports value chain is the key to India's exports growth and its sustainability. In addition to generalised strategies, India needs to evolve sectoral strategies for export competitiveness, especially for engineering goods, pharmaceutical, electronics, and high-tech industries," Indian Institute of Plantation Management Bengaluru (IIPMB) Director Rakesh Mohan Joshi said. Sectors like polished diamonds, jewellery, passenger cars, telecommunication equipment would help in increasing the shipments. In terms of countries, tremendous unexplored potent

UK puts export bar on Tipu Sultan's Flintlock gun valued at 2 mn pounds

An 18th-century gun made for Mysuru ruler Tipu Sultan and valued at 2 million pounds has had its export barred to allow time for a buyer to come forward to keep it in UK for public study and education

Share of Russia's grain exports settled in rubles to reach 30%: Official

Russia is also negotiating with importing countries on the creation of grain hubs in them, and on the creation of joint ventures in Russia for grain processing

Underwhelming performance

Without economic integration, trade strategy will not work

CHATROOM: Exports on CIF terms attract IGST on CIF value, says expert

The Commerce Ministry introduced Para 2.43 on "merchanting trade" in the recently released Foreign Trade Policy 2023

India's April merchandise and services trade deficit at 21-month low

April merchandise exports were $34.66 billion, down from $38.38 billion in March, while imports fell to $49.90 billion from $58.11 billion, data showed

Blue Star targeting to double exports within 3 years, says top official

Blue Star Ltd is targeting to double its exports within three years as the company looks to expand its international footprint. Blue Star Managing Director B Thiagarajan said the company's exports are worth around Rs 800 crore at present and would like to double these within three years. According to Thiagarajan, the company is going to expand its international footprint. "We were only in the Middle East (earlier). This year, we have opened an office in the US, Japan, and Europe. So, we want to enter these markets," he said. "You know China plus one strategy. People want to look at India other than China. Under that, we are exploring these markets. Today, we do exports of around Rs 800 crore, we would like to double it within three years," Thiagarajan told PTI here. The AC market in the US and Europe is very big compared with India, he noted. This year, the company has also bagged a "major order from Bengaluru metro, worth more than Rs 500 crore", he added. On the company's plan

EU imports high-tech products worth euro 482 bn from extra-EU nations

In 2022, the EU imported Euro 482 billion worth of high-tech products from extra-EU countries (+22 per cent compared with 2021), according to an estimate published by Eurostat