Page 14 - Exports

Economic Survey highlights India's diversifying merchandise trade: FIEO

Increasing exports to markets such as Brazil, South Africa and Saudi Arabia are boosting the growth of the country's outbound shipments, FIEO said on Tuesday. Federation of Indian Export Organisations (FIEO) President A Sakthivel said the Economic Survey has rightly highlighted India's growing and diversifying merchandise trade. "The new diversified markets, including those of Brazil, South Africa and Saudi Arabia, have led to the increase in exports by up to 2 times," he said. The ongoing trade negotiations with the UK, EU, Canada, and Israel will also add further impetus to our exports, he added. "Reducing the cost of logistics in the country, which now to the tune of 14-15 per cent, comparable to the global benchmark, will help in making our exports more competitive worldwide," Sakthivel said. Yogesh Gupta, Regional Chairman, FIEO (Eastern Region), said the exporter fraternity is expecting fiscal support and affordable credit, from the upcoming budget. "A need of the hour is t

Budget's focus will be on promoting exports, millets, employment: Khattar

Haryana Chief Minister Manohar Lal Khattar said that state's budget for 2023-2024 will focus on promoting exports, products made from millets, and employment opportunities

Weak exports remain an overhang in the near term for Bajaj Auto

Strong realisations helped the company beat estimates in Q3

Chatroom: 'Export duty is not part of the price paid or payable for goods'

you must show the export duty amount separately in the invoice and collect the aggregate amount from the buyer (whether in one or more instalments)

Iffco, Amul, three others to promote exports of new co-op society

The new cooperative will also provide proper institutional support for aggregation of exportable surplus, working capital, logistics, technical know-how and training

DGFT simplifies composition fee for export obligation extension

The previous formula for composition fee was convoluted and difficult to understand, which made the process more tedious and strenuous for exporters

India's merchandise trade crosses the $1-trillion mark in 2022

Outbound shipments grew 13.7 per cent year-on-year (YoY) in 2022, while imports rose by 21 per cent, commerce and industry ministry's data showed

Finance ministry increases 'risk profiling' of shipments from China

Govt taking steps to address possible cases of under-invoicing

China's trade tumbles sharply in Dec, clouds 2023 growth outlook

Exports contracted 9.9 per cent year on year in December, extending a 8.7 per cent drop in November

7 mn people laid off in Pakistan textile industry amid dwindling exports

Representatives of the value-added textile associations said the current government does not have any policy to end the various crises affecting textile producers and exporters

iPhone exports from India doubled to surpass $2.5 billion in April-December

While India makes up just a fraction of iPhone output, rising exports bode well for Prime Minister Narendra Modi's plan to make the country an alternative to China as factory to the world

Indian economy in a relative 'bright spot', must leverage exports: IMF

India's headline inflation moderated to an 11-month low 5.88% in November from 6.77% the month before

Maruti Suzuki India logs 28% rise in exports at 263,068 units in 2022

Maruti Suzuki India on Tuesday reported a 28 per cent rise in exports at 2,63,068 units in 2022, its highest ever overseas shipments. The company's previous highest exports was achieved in 2021 with 2,05,450 units. The highest exported models in 2022 were Dzire, Swift, S-Presso, Baleno and Brezza, the company said in a statement. "Crossing the 2 lakh milestone in exports for the second consecutive year signifies the trust, quality, reliability, performance, and affordability of our products," Maruti Suzuki India Ltd (MSIL) Managing Director & CEO Hisashi Takeuchi said. He further said, "this achievement further aligns with our strong commitment to the government of India's 'Make in India' initiative to manufacture products to delight global customers." The company said in 2022, it exported more than double the volume it exported in pre-COVID year 2019, which stood at 1,07,190 units. In 2020, its exports had declined to 85,208 units due to the pandemic and supply chain ...

November exports to key markets bounce back after October dip

Exports had recovered in November to grow at 0.59 per cent from a 12 per cent contraction in October

PM's vision for 2023 is mobile phone exports of Rs 1 trn: R Chandrasekhar

Prime Minister Narendra Modi's vision for 2023 is to have mobile phone exports with the segment featuring in the top 10 export category from India, Minister of State for Electronics and IT Rajeev Chandrasekhar said. While speaking with PTI, the minister said that the government will take all the measures that are required for boosting the electronics manufacturing ecosystem in the country and in 2023 will look at widening the manufacturing base beyond mobile phone manufacturing. "PM Narendramodi Ji's vision for 2023 is mobile phone exports worth Rs 1 lakh crore, with mobile phones featuring in the Top 10 exported category," Chandrasekhar said. Mobile phone exports from India was around Rs 45,000 crore which was dominated by Apple and Samsung. The minister said that the government is working to broaden the electronic manufacturing ecosystem beyond mobile phones to increase global share in hearables and wearables segment, IT hardware, electronic components etc. As per a study by ...

PPE kits, masks, other Covid preventive products' exports under Govt radar

The government has started close monitoring of exports of products used to deal with Covid infections such as PPE kits, masks, ventilators and certain medicines like paracetamol on account of rising infections in various countries, including China, an official said. The move is aimed at dealing with any possible emergency situation on account of a spurt in coronavirus cases. "We are keeping a close watch on exports of all these products. We are monitoring the situation to take appropriate decisions, though the situation at present is not alarming. We should be prepared for everything and for that our domestic requirement should be ready, the official said. We have started collecting data on a daily basis for monitoring purposes for products like PPE kits, syringes, gloves, certain medicines like Remdesivir and paracetamol, the official added. The issue came up at a recently held inter-ministerial preparatory meeting attended by senior officials from different ministries including .

Appliances, consumer electronics sector aim for double-digit growth in 2023

Bolstered by premiumisation trends, pent-up demand and policy initiatives, the country's appliances and consumer electronics sector expects to continue on the double-digit growth trajectory in 2023, as companies seek to expand capacity and roll out new-age smart products. Learning the hard way in the wake of the global supply chain disruptions caused by the coronavirus pandemic and prolonged lockdown in China, leading companies in the sector are focusing on enhancing production capacity as well as domestic supply chain to reduce dependence on imported components. All said, geopolitical developments and rupee depreciation could have an adverse impact on companies. Appliances & Consumer Electronics (ACE) industry body CEAMA is "optimistic about good growth in 2023 as well" and expects to almost double the value of the industry in the next three years to Rs 1.48 lakh crore by 2025, as well as make the country an alternative hub for exports. In 2022, ACE industry logged an overall ...

UP to develop dry ports, freight con­tainer stations to boost exports

The government has said it would also leverage the Varanasi-Haldia inland waterway to catalyse exports

India to face export shocks from global recession: BFSI economists' panel

While two of the eminent panelists - Ghosh and Nayar - said they expect a pause in the monetary cycle by the MPC, Chakraborty, Sagar, and Kapoor said the MPC could still hike by 25-50 basis points

Covid fears in China may have cascading impact on India's exports, imports

The importance of China as India's top trading partner cannot be understated