Page 5 - Exports

Govt allows exports of 100% broken rice to reduce record high stockpiles

India had banned exports of 100% broken rice in September 2022 and then imposed curbs on exports of all other rice grades in 2023 after poor rainfall raised concerns over production

NITI Aayog plans policy for medium-size firms to aid their growth

Nageswaran said MSMEs should shed their fear of growth and transform across scales - from micro to small, from small to medium, and from medium to large enterprises

Indian trade group asks govt to partly shift gold, silver imports to US

Gem and Jewellery Export Promotion Council says step will balance trade deficit with the US

Hyundai India completes 25 years of exports; crosses 3.7 million mark

The company began exports in 1999 and has covered over 150 nations. It currently exports to more than 60 countries

January smartphone exports top full-year total of FY21, shows data

Minister for Electronics and Information Technology Ashwini Vaishnaw recently posted on X that smartphone exports for 2024-25 are likely to reach ₹2.25 trillion

PLI scheme fuels iPhone exports, but gaps remain in manufacturing

India's PLI scheme, particularly in electronics and smartphones, has proved successful in boosting domestic manufacturing and seamlessly aligning with the country's export ambitions

India's pharma exports set for 10x growth, targeting $350 billion by 2047

Indian biosimilar exports, presently valued at $0.8 billion, are expected to grow fivefold to $4.2 billion by 2030 and reach $30-35 billion by 2047

China's economy grows 5% in 2024, driven by exports, stimulus measures

China's economy expanded at a 5% annual pace in 2024, slower than the year before but in line with Beijing's target of around 5% growth, helped by strong exports and recent stimulus measures. In quarterly terms, the economy grew 5.4% in October-December, the government reported Friday. Exports accelerated as companies and consumers rushed to beat potential tariff hikes incoming President-elect Donald Trump may impose on Chinese goods. The national economy was generally stable with steady progress and new achievements were made in high-quality development, according to the report by the National Bureau of Statistics on Friday. Particularly, with a package of incremental policies being timely rolled out, the social confidence was effectively bolstered and the economy recovered remarkably, it said. Manufacturing was a strong engine for growth last year, with industrial output jumping 5.8% from a year earlier. Total retail sales of consumer goods grew 3.5% at an annual rate. Exports

Centre notifies procedure for export of certified organic products

The government has laid out a procedure for export of certified organic products, requiring mandatory certification under the National Programme for Organic Production (NPOP) for such shipments, according to a public notice. The Directorate General Of Foreign Trade (DGFT) in a public notice said that a product will be allowed to be exported as "organic product" only when accompanied by a Transaction Certificate (TC) issued by a certification body accredited by the National Accreditation Body for such items under the NPOP of the Department of Commerce. India has fixed a target of USD 2 billion exports for organic food products by 2030. It added that exports of these goods shall only be certified as such if produced, processed, packed and labelled as per the standards laid down in the NPOP. "Procedure for export of certified organic products has been notified," it added. The revised edition of the NPOP will come into force with effect from 180 days from January 5. The commerce ...

High rates, declining finance impacting exporters' competitiveness: CII

Indian exporters are grappling with significant liquidity challenges due to high interest rates and a decline in export finance, which are undermining their competitiveness, according to Sanjay Budhia, Chairman of the CII National Committee on EXIM. To address these issues, he said, the government and banks must work together to provide effective solutions. Budhia suggested the government extend the interest equalisation scheme, which ended on December 31, 2024, for three years for all manufacturing exporters, including MSMEs (micro, small and medium enterprises). The longer period extension of the scheme would be a crucial step, as its limited extension leaves Indian manufacturers at a disadvantage, he added. "Exporters are indeed facing significant challenges on the liquidity front, with high interest rates and declining export finance impacting their competitiveness," he told PTI. MSME exporters, who form the backbone of India's export ecosystem, would benefit greatly from ...

Electronics exports soar 28% in Apr-Nov of FY25, led by smartphone surge

Become fastest-growing among India's top-10 exports, take 3rd place

Time to focus on export-led Indian miracle as US leans toward isolationism

It is surprising that India has not followed this path even though there have been plenty of examples of export-led economic miracles from the 1950s closer home

India's electronics exports may dominate trade negotiations with US

India's electronics exports, driving over 62% trade surplus, to dominate US talks

Nations cross $1 trn mark in digitally deliverable services exports in 2023

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)

China announces ban on Germanium, Gallium exports to US in tit-for-tat move

Gallium, germanium, antimony and superhard materials are no longer allowed to be exported to America as an overall principle, the Ministry of Commerce said in a statement Tuesday

Turkiye's measures on polyester impact exports; India seeks compensation

India has sought compensation from Turkiye as Ankara's decision to extend safeguard measures on polyester staple fibres has impacted the product's exports, an official said. India flagged concerns and impact from these measures during a recent bilateral consultations with Turkiye under the WTO's safeguard agreement. On October 14, India sought consultations with Turkiye under the agreement following Ankara's decision to extend safeguard measures on polyester staple fibres. "We have sought compensation as we have a loss of trade. India has the option to propose retaliatory customs duties equivalent to the value of export loss if the issue will not be resolved through consultations," the official said. India has exported these fibres worth USD 22.18 million during 2023-24. It was USD 23.55 million in 2022-23. In September, Turkiye decided to extend safeguard measures against imports of polyester staple fibres. "As a member having a substantial trade interest in the export of produc

Oilmeals export down 35% in Sep to nearly 214,000 tonnes, shows data

India's oilmeals export declined 35 per cent last month to 2,13,744 tonnes due to lower shipments of soyabean meal, rapeseed meal and castorseed meal, according to industry data. The exports stood at 3,30,567 tonnes in the same month last year. In a statement on Tuesday, the Solvent Extractors' Association of India (SEA) said the total export of oilmeals during April-September 2024 fell 9 per cent to 20,82,533 tonnes compared to 22,76,120 tonnes in the corresponding period of the previous year, mainly due to a reduction in export of rapeseed meal and castorseed meal. In the first half of the current fiscal year, the export of soyabean meal jumped to 9.08 lakh tonnes against 5.86 lakh tonnes a year ago, due to higher imports by the UAE, Iran and France. Bangladesh, South Korea and Thailand are the major importers of rapeseed meal. Industry body SOPA has estimated Kharif soybean production at 125.18 lakh tonnes from last year's estimate of 118.74 lakh tonnes. SOPA has reported an a

Make in India needs a reset. It won't work unless we focus on exports

The trouble is that Indian manufacturers appear less and less interested in becoming export powerhouses

India's exports to China fall at faster clip than to other partners

India's exports to China witnessed 22.44 per cent contraction to $1 billion, while overall exports declined 9 per cent at $34.7 billion in August, commerce department data showed

Centre's support to help attain $1 bn exports of alcoholic beverages: CIABC

Support from the Centre and state governments will help the country to achieve USD 1 billion worth of alcoholic beverages exports in the coming years, the Confederation of Indian Alcoholic Beverage Companies (CIABC) said on Wednesday. CIABC Director General Anant S Iyer also said that promoting ease of doing business for the sector is key at both the Central and state government levels. Easy and timely permissions for bottling and branding; transport permits; and promoting online paperwork are some of the areas which need special attention for the growth of the sector. "We need ease of doing business across the operations, besides easy tax structures and market-determined prices to boost the exports. At present, rules for the sector differ from state to state," Iyer said. He said the USD 1 billion target is "ambitious, but possible". In 2023-24, the exports stood at USD 389 million. He added that the industry should give a try for this target as it needs about 14-15 per cent ...