Page 10 - India 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

Malaysia's egg shortage sets Indian hatcheries on path to record exports

India shipped 5 million eggs to Malaysia in December and will ship 10 million in January and up to 15 million in February, according Kumar

Exports slide 12% on recession fears; trade deficit widens to $23.76 bn

Imports last month also contracted 3.46 per cent to $58.24 billion, amid falling commodity prices

Indian exports decline 12.22% YoY to $34.48 billion in December: Govt data

The data, released by the commerce ministry, also showed that the country's imports in December 2022 dropped to $58.24 billion as against $60.33 billion in the same month the previous year

India's April-December finished steel exports decline 54% YoY: Data

India's exports of finished steel more than halved during the first nine months of the fiscal year that began in April 2022, according to the latest government data

Free trade with Australia kicks off; Tamil Nadu sees export gains

India gets preferential access to all products it exports to Australia

Pharma exports likely to touch all-time high of $27 bn in FY23 riding on EU

Better figure expected despite global headwinds; India has so far exported pharma products worth $16.57 bn during April-November this year

The economics behind Christmas & New Year

Traditional plum cake, gifts wrapped in bright colours, and warm lights—that's what a usual Christmas looks like. But all of this involves vast sums of money. Watch the video to know the economics behind it.

India exports 465,000 tonnes wheat worth $1.5 billion during Apr-Oct

India exported 46.56 lakh tonne of wheat worth USD 1.5 billion during April-October this fiscal year as against USD 2.12 billion in 2021-22, Parliament was informed on Friday. Exports of basmati rice during the first seven months of 2022-23 stood at USD 2.54 billion (24.10 lakh tonne), according to data provided by Minister of State for Commerce and Industry Anupriya Patel in a written reply to the Rajya Sabha. Though the government banned wheat exports in May, some shipments are allowed to meet food security needs of the countries that request for it. In a separate reply, the minister said 186 exporters have been given permission to export wheat in accordance with provisions of transitional arrangements under the Foreign Trade Policy, 2015-2020. As there was a sudden spike in global prices of wheat, the government on May 13 prohibited the exports in order to provide for overall food security of the country and to support the needs of the neighbouring and other vulnerable countrie

India exports 562,000 tonnes of sugar till Dec 9 in 2022-23: AISTA

India has exported 5.62 lakh tonne of sugar so far in the current 2022-23 marketing year that began in October, trade body AISTA said on Tuesday. In November, the government allowed the export of 60 lakh tonne of sugar in the current (2022-23) marketing year (October-September). According to the All India Sugar Trade Association (AISTA), the dispatches for exports from sugar mills were at 12.19 lakh tonne, out of which physical shipment completed stood at 5.62 lakh tonne till December 9 of the current marketing year. A maximum of sugar has been exported to the UAE, followed by Bangladesh, Indonesia, Somalia and others in the said period, it said in a statement. About 5.22 lakh tonne of sugar is under loading or waiting for loading, it added. India exported a record 111 lakh tonnes of sugar in the 2021-22 marketing year.

DPIIT working with 24 key sectors to boost manufacturing, exports

The Department for Promotion of Industry and Internal Trade (DPIIT) is working closely with 24 sectors, including electronics, textiles and auto components, to boost domestic manufacturing, increase exports and cut down imports, an official statement said on Friday. The DPIIT said efforts are on to boost the growth of these sectors in a holistic and coordinated manner. "Now, DPIIT is working closely with 24 sub-sectors which have been chosen keeping in mind the Indian industries strengths and competitive edge, need for import substitution, potential for export and increased employability," it said. These sectors include furniture, air-conditioners, footwear, auto components, aluminium, electronics, agrochemicals, steel, textiles, EV components and integrated circuits, ethanol, ceramics, set top boxes, robotics, televisions, close circuit cameras, toys, drones, sporting goods and gym equipment. It added that the second phase of the Make in India campaign is focusing on 27 sectors. T

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World's play store: India scripts a local toy story, turns a net exporter

India is likely to extend the production-linked incentive (PLI) scheme to domestic toy manufacturers after Chinese toys were found to be "unsafe"

Iran no longer importing tea and basmati rice from India, says report

There is no clarification from Iran for the stoppage but exporters believe that it is due to widespread anti-hijab protests in the country

Why does India continue to have an export problem? Sociology may answer

All kinds of policies have been tried to boost Indian exports, but nothing has worked. Maybe, sociology holds the answers

Demand for musical instruments up; Chennai, Kolkata rank as top exporters

India exported $22 million worth of musical instruments and their accessories in the first half of the current fiscal year, as compared to $38.5 million in the previous year

Handicraft far superior than machine-made products, exports rising: Goyal

Piyush Goyal said that the country's handicraft exports have been rising steadily and were far superior than any machine-made products

Indian pharma exports rise by 4.22% to $14.57 bn during April-Oct

Pharmaceutical exports from India registered a growth of 4.22 per cent to reach USD 14.57 billion during the April-October period despite a negative trend last month, according to a senior official of an export promotion body under Government of India. Udaya Bhaskar, Director General of Pharmaceuticals Export Promotion Council of India (Pharmexcil) which is an organisation under the Ministry of Commerce, said he was hopeful of ending the current fiscal at around USD 27 billion as against USD 24.62 billion during the last financial year. "There was a dip (-0.32 per cent) in July and (-5.45 per cent) and there was 8.47 per cent positive growth in September. I am optimistic that it will be revived in the coming months and may touch USD 27 billion at the end of the fiscal," Bhaskar told PTI. During the same period last fiscal, the exports fetched USD 13.98 billion. USA, Canada and Mexico (NAFTA countries), Europe and Africa account for 67.5 per cent (nearly USD 5 billion) of the total

Binding commitments on new issues in FTAs may hamper India's exports: Rpt

Taking binding commitments on new issues like environment, labour and sustainability in the proposed free trade agreements (FTA), being negotiated by India, may hamper the country's exports in the future, according to a report by Global Trade Research Initiative. India's already "weak" FTA outcomes may worsen if it takes obligations in the new issues, the report -- FTAs: Fabulous, Futile, or Flawed? An evaluation of India's FTAs with ASEAN, Japan and South Korea -- said. It added that like many developing countries, India has an evolving regulatory framework on most new issues. "International commitments must be taken only after the domestic regulatory framework is in place. And both must be in sync. New non-trade issues may serve as non-trade barriers and hamper our exports in the future," GTRI (Global Trade Research Initiative) report said. Developed regions like European Union and the UK are pushing to include these new issues in the proposed trade pact with India. Former India

What is going wrong with Indian exports?

The impact of the global slowdown is beginning to be felt in India. The country's goods exports have contracted for the first time in two years. What went wrong with India's exports story?