Page 2 - India's Export

India's aluminium exports to US may fall due to Trump's tariff hikes

Unlike aluminium companies, India's steel producers are not expected to face significant setbacks as their supplies to the US are smaller

India's exports likely to touch record $800 bn this year: Piyush Goyal

India's exports are growing significantly and would achieve a record USD 800 billion in 2024-25 fiscal year, Commerce and Industry Minister Piyush Goyal said on Friday. "Exports have been growing and have risen significantly in the last four years. This year also, there will be growth. We will end the year with over USD 800 billion exports for the very first time in India's history," Goyal said during Question Hour in the Rajya Sabha. He told Congress leader Rajeev Shukla that it is "not entirely accurate" that India's exports are declining. Goyal told him not to worry about falling forex reserves as they have consistently been above USD 600 billion for many months. The minister, however, informed the Upper House that certain imports -- petroleum products, coking coal, pulses and edibles oils -- are "unavoidable" due to domestic shortages and high demand. The growth in imports, which is a good sign for the economy, is due to a rise in domestic consumption. "It will take some year

India's regulatory control system ensures transparency in exports: DGFT

The country's regulatory system is ensuring a robust and transparent process for exports of high-tech goods, a senior official said on Thursday. Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said that IT-enabled processes, seamless licensing, and industry outreach will drive these exports while maintaining strong regulatory oversight. Speaking at the National Conference on Strategic Trade Controls (NCSTC) 2025 at Bengaluru, Sarangi "emphasized the importance of India's export control system in ensuring a robust, transparent process for high-tech exports". As part of the country's strategic trade control system and in consonance with the provisions of international conventions, India regulates the exports of dual-use items, nuclear-related products, and military goods, including software and technology under the list. This list is notified by the DGFT under the Foreign Trade Policy. According to an official statement, the conference focuses on underscoring the ...

Palm oil imports to drop to 5-year low in Jan due to losses: Report

The thin lineup of vessels carrying palm oil at key ports such as Kandla, Haldia, and Krishnapatnam over the next two weeks suggests imports could drop to about 370,000 metric tons in Jan

Targeted steps needed to boost turmeric exports to $1 bn by 2030: Report

India needs to implement targeted interventions to stabilise turmeric production and empower farmers to achieve its goal of USD 1 billion in turmeric exports by 2030, according to a report released by ICRIER-Amway. The report, released a day after the launch of the National Turmeric Board in Telangana's Nizamabad, outlines strategies to strengthen India's position as a global turmeric producer and exporter, ICRIER Director Deepak Mishra said after unveiling the report on Wednesday. Establishing a single nodal agency like the National Turmeric Board can ensure quality standards, traceability and streamline certification and testing processes, the report added. Once the domestic quality and standards are in order, signing mutual recognition agreements for standards and certification for both fresh and processed turmeric with key export markets can reduce the compliance burden and enhance trade. "Subsidies should be linked to help develop high-end product value chains," the report ...

Not a great start for India's importers and exporters in the New Year

Donald Trump, who will take over as President of the United States, has threatened to hike import tariffs across the board, and impose high tariffs on imports from China, Canada, Mexico and India

India's exports to cross $800 billion this fiscal year: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Friday said despite global economic uncertainties, India's exports of goods and services are expected to cross USD 800 billion, which will be a record. Last fiscal year, the exports stood at USD 778 billion. He said though there will be stresses in the global system, but India's exports basket is large. "My estimate is that we will cross USD 800 billion in exports, another record given the world situation," he told reporters here. He added share in services exports is also growing at a rapid pace. On exports to developing and least developed countries (LDCs), he said those nations have been stressed because of the forex crisis they are facing after the COVID-19 pandemic. The Red Sea crisis too had impacted shipping lines. On the new US administration, the minister said: "We are looking forward to a deep and substantive engagement with the new US administration...we are looking forward to working with (Donald) Trump administration ag

India's exports to Australia up 64.4% in Nov: Commerce ministry data

India's exports to its trade agreement partner Australia rose 64.4 per cent year-on-year to USD 643.7 million in November on account of healthy growth in sectors such as textiles, chemicals and agricultural products, according to the commerce ministry data. However, the country's merchandise exports recorded a decline of 5.21 per cent year-on-year to USD 5.56 billion during April-November 2024-25, the preliminary data showed. India and Australia implemented an interim trade pact -- Economic Cooperation and Trade Agreement (ECTA) -- on December 29, 2022 and are now in negotiations to widen the scope of the pact and make it a Comprehensive Economic Cooperation Agreement (CECA). On the completion of two years of ECTA, Commerce and Industry Minister Piyush Goyal said the agreement has brought with it increased market access for Indian exporters, expanded opportunities for MSMEs and farmers, and generated several employment avenues. It has also enabled growth in exports by 14 per cent i

India's rice stocks reaches record high, boosting export potential

In the middle of overflowing grain bins, Indian farmers have gathered a record rice crop of 120 million tons from this year's summer season, which accounts for nearly 85 per cent of total rice output

India closing the gap in smartphone exports as China, Vietnam slows down

India has absorbed nearly 50 per cent of the decline in mobile phone exports from China and Vietnam, although China remains the leading exporter of mobile phones

Govt orders ethylene oxide testing for spice export to Hong Kong, Singapore

Currently, spice exports to Singapore and Hong Kong require mandatory testing for the carcinogen Aflatoxin and the dye Sudan I-IV

India's Feb trade deficit at $18.71 billion, consistent with forecast

In February, services exports were $32.35 billion, while imports were $15.39 billion. In January, services exports were $32.80 billion and imports were $16.05 billion

Centre, experts to discuss trade regime of sensitive goods, tech on Jan 30

Top central government officials, industry leaders and international experts will gather here on January 30 to deliberate on India's export control systems for sensitive goods and technologies and global best practices in the sector, an official said. The official said that the 'National Conference on Strategic Trade Controls' seeks to showcase India's prowess in export control systems, facilitate a dialogue between government authorities and industry leaders on the sector, and address emerging risks associated with the export of sensitive goods and technologies. There are specific laws and regulations with regard to strategic trade or export controls. These help manage the flow of dual-use goods, services and technologies across national borders. These regulations primarily focus on controlling the export of SCOMET items in order to balance the country's commercial and security considerations. Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET) items are .

Commerce ministry sets up task force to resolve trade issues for exporters

The commerce ministry has set up a task force to identify and resolve trade barriers being faced by exporters in other countries, a move which would help provide greater market access to domestic goods, an official said. The development assumes significance as many times India's exports suffer from these barriers such as time taking prior registration requirements and unreasonable domestic standards/rules in many countries. "We have constituted a task force within the ministry where we will be looking at the trade barriers, and technical barriers. The ministry has been focusing on how to improve systems, and improve standards," the official said. The ministry is also looking at improving mutual recognition agreements (MRAs) with different countries so that product standards are as per the requirements of the importing countries. Standards for goods and services should help in promoting global trade and not act as non-tariff barriers, the official added. According to a report of th

India's share in exports in labour-intensive sectors declining: FIEO

India's labour-intensive export sectors such as apparels, marine products, plastics, and gems and jewellery are showing a "troubling pattern" as the country is experiencing a decline in global market share across these segments during the last five years, a FIEO report has said. Apex exporters body Federation of Indian Export Organisations (FIEO) also said that a note of caution is warranted regarding a distinct spike in export growth of roughly USD 40 billion as this particular surge is likely attributed to a rerouting of crude oil trade routes via India to Europe. This phenomenon may not be sustainable in the coming years, it said. It added that the most "pressing concern" regarding the negative export growth is the "poor" performance of labour-intensive sectors. In a country like India, these sectors hold immense significance not only for their job creation potential but also for their substantial contribution to net high-value addition. "Addressing this challenge requires a ..

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India's exports growth momentum will have to come from its states

They can utilise opportunities for greater market access generated by free trade agreements

Exports in FY23 to reach about $770 billion: Commerce and industry ministry

India's merchandise and services exports combined in the current financial year ending March will be close to USD 760-770 billion, Union Minister for State for Commerce and Industry Anupriya Patel said on Thursday. The country's merchandise and services exports stood at USD 672 billion in the last fiscal. "We are focusing in every possible way on how we can export more and more because today India's share in global merchandise trade is close to 1.8 per cent. As far as services trade is concerned, it is just 4 per cent. We want to take it to 10 per cent," Patel said at the Sourcex India event here. India's merchandise and services exports in the current financial year ending March will be close to USD 760-770 billion, she noted. The minister also mentioned that the Indian economy is one of the fastest-growing economies in the world, and with the increasing globalisation of trade, there is immense potential for Indian businesses, particularly brands to expand their footprint in the .

Indian exporters boost euro hedges after rally to near two-year high

There is an urgency among exporters to hedge following the euro's rally to above 88, a treasury sales official at a private bank said

India's exports to Turkey may get impacted in short run due to earthquake

India's merchandise exports of commodities such as cotton, manmade yarn and textile dyes may be impacted in the short run to earthquake-hit Turkiye, according to exporters. Two powerful earthquakes hours apart on Monday last week caused widespread destruction of property and killed more than 28,000 people, leaving millions homeless in Turkiye. The earthquakes also caused damage to the infrastructure and logistics network with the Port of Iskenderun remaining closed for around a week. Exports to Turkiye increased to USD 6.2 billion during April-November 2022 against USD 5.1 billion in the corresponding period in 2021. Federation of Indian Export Organisations (Fieo) Director General Ajay Sahai said that the extent of the damage in Turkiye is yet not known and thus its impact on exports is difficult to ascertain. However, the earthquake will further depreciate Turkish Lira , which has significantly depreciated recently, and has touched its record low following the earthquake making