Page 15 - Indian Exports

India's services exports to buck recession fears; see 25-30% growth

Notwithstanding the threat of a recession looming ahead for the developed economies, exporters say they expect a similar trend to continue in the second half of the year

Mystery of Indian-born foreign stars

Should we not be creating roles in India for the talented?

May raise sugar export quota after assessing domestic output: Food Ministry

The government, which has allowed export of 6 million tonne of sugar till May 31 of the ongoing 2022-23 season, on Sunday said it could consider allowing more export after periodic assessment of the domestic production. A food ministry notification issued on November 5 said export quota of 6 million tonne has been permitted from November 1 till May 31, 2023 with an option for millers to export on their own or through exporters or swap with domestic sale quota. In a statement issued on Sunday, the ministry said the export quota has been fixed based on the available initial estimates of sugarcane production in the country. "The sugarcane production in the country will be reviewed periodically and based on the latest available estimates, the quantity of sugar exports to be allowed could be reconsidered," the ministry said. Mills have been asked to export allocated sugar quota speedily to make early payment to cane farmers, it said. Mill-wise sugar export quota has been fixed for the

Giving a thrust: Exports to account for 48% of nine PLI schemes

Data suggests bulk of the exports will come from largescale electronic manufacturing, which is dominated by mobiles

India's textiles sector eyeing $100-billion exports in 5-6 years: Goyal

The minister said that last year, textile export was approximately USD 42 billion, while the target is to achieve USD 100 billion by next 5-6 years

Musical instruments' exports rise 3.5 times to Rs 172 crore in Apr-Sept

The country's musical instruments exports have increased to Rs 172 crore during April-September this fiscal against Rs 49 crore in the same period of 2013-14. Commerce and Industry Minister Piyush Goyal said in a tweet that the exports have risen to more than 3.5 times in the first six months of the current fiscal. "India's exports of musical instruments rose to more than 3.5 times in April-September 2022, as compared to the same period in 2013," Goyal said. On the jump in exports, Prime Minister Narendra Modi said the growth is encouraging. "With Indian music gaining popularity worldwide, there is a great opportunity to further grow in this sector," Modi tweeted.

Eyeing $5-bn exports, $22-bn turnover in defence sector by 2025: Rajnath

Terming exports as a key pillar for long-term sustainability of the domestic defence industry, Defence Minister Rajnath Singh on Thursday said the government has set itself a target of achieving defence exports of USD 5 billion by 2025. Speaking at an event at the 12th Defence Expo here, he also said the government was eyeing overall turnover of USD 22 billion in defence production in the same timeframe. "Domestic demand alone may not always provide economies of scale to make profitable investments and sustain them," Singh said, speaking at a seminar jointly organised by the US-India Business Council and Society of Indian Defence Manufacturers at Mahatma Mandir. The seminar was on the theme 'New Frontiers in US-India Defence Cooperation: Next Generation Technology, Innovation & Make in India'. "The USD 5 billion export target set for 2025 reflects the intent of the government for export-oriented manufacturing," the minister added. He also invited US defence companies to set ..

India-Russia JV hopes for $5 bn in supersonic missile exports by 2025

The joint venture, with a 50.5% Indian and 49.5% Russian partnership, fits into PM Modi's flagship make-in-India programme

India will achieve $2 trillion export target by 2030: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Sunday expressed confidence that the country will achieve the export target for goods and services to USD 2 trillion by 2030. The minister was speaking at the Exporters Conclave held at Chennai. Goyal emphasised on sustaining the export momentum and said that he is confident that Indian exports will be able to wither the global headwinds and will surpass growth in exports by a big margin. He also said that by 2047, the country will become a USD 30 trillion economy with 25 per cent share in exports. By the year 2030, exports from India will be USD 2 trillion, he said. The industry participants were assured that the government is committed to addressing the issues raised by them. Speaking at the event, A Sakthivel, President, Federation of Indian Export Organisations (FIEO) said that Indian exporters have good opportunities for exports to Russia and the EU despite recessionary trends visible there. He said that there would be about US

Unmistakable slowdown: Some indicators disappoint, some flatter to deceive

It is hard to square the picture painted by the different indicators with the RBI's 7% full-year growth forecast. The World Bank's revised forecast of 6.5% may be closer to the mark, writes T N Ninan

India's weakening exports prompt slow trade deficit moderation: Barclays

India's large trade deficit is beginning to consolidate, but the weaker exports are prompting a more gradual adjustment than expected, Barclays Bank said in a note on Tuesday

India's exports dip by 3.52% to $32.62 bn in September: Govt data

India's exports contracted by 3.52 per cent to USD 32.62 billion in September against USD 33.81 billion in the same month last year, while the trade deficit widened to USD 26.72 billion, according to the preliminary data released by the commerce ministry on Monday. Imports during the month, however, grew by 5.44 per cent to USD 59.35 billion as against USD 56.29 billion in September 2021, the data showed. The exports during April-September 2022-23 rose by 15.54 per cent to USD 229.05 billion. Imports during the period increased by 37.89 per cent to USD 378.53 billion. The trade deficit during the first six months of the fiscal has widened to USD 149.47 billion as against USD 76.25 billion during April-September 2021-22.

India's CAD may have breached 3% of GDP in Q1 on surge in imports

Analysts peg full-year figure at $120 bn, but say it will be lower as proportion of GDP than FY13 levels

Govt extends exports of broken rice consignments in transit till Sept 30

The government on Tuesday extended the last date for the export of broken rice in transit till September 30. It was earlier allowed till September 15. The government had banned exports of broken rice on September 8. "Export of consignments of broken rice...as permissible under notification dated September 8 has been extended till September 30, 2022," the directorate general of foreign trade said in a notification. September 8 notification had stated that during the period September 9-15, certain consignments of broken rice will be allowed to be exported.

Share of petro products in exports touches record high at 21.2% in Apr-Aug

India's heavy dependence on energy exports have also boosted its overall merchandise exports

Exports rise marginally in Aug; trade deficit more than doubles to $28 bn

India's exports rose marginally by 1.62 per cent to USD 33.92 billion and trade deficit more than doubled to USD 27.98 billion in August, data released by the commerce ministry said on Wednesday. Trade deficit in August 2021 stood at USD 11.71 billion. Imports rose by 37.28 per cent to USD 61.9 billion in August this year. During April-August 2022-23, exports registered a growth of 17.68 per cent to USD 193.51 billion. Imports during the five-month period of this fiscal grew by 45.74 per cent to USD 318 billion. Trade deficit widened to USD 124.52 billion in April-August this fiscal as against USD 53.78 billion in the same period last year.

Top headlines: Byju's FY21 losses widen; India's Aug trade deficit doubles

The wholesale price-based inflation eased to 11-month low of 12.41 per cent in August, on softening in prices of manufactured and fuel products, even as food items remained expensive.

Are exports holding up?

Strong export volumes have been a major driver of India's growth over the last few years; high technology exports have clearly outperformed medium and low technology exports

Export momentum dissipating but new opportunities opening up

Speculation on what the new Foreign Trade Policy, to be unveiled this month-end, may contain has engaged the attention of exporters and importers

India-US Trade Policy Forum meeting expected soon, says Piyush Goyal

Asserts Indian exports not impacted by GSP, says India looking to have very contemporary and modern digital laws, while maintaining high levels of data privacy