Page 9 - Indian Exports

Economic activity shows dynamism but at moderated pace in Q2: NCAER-NSE

Economic activity continued to show dynamism in the second quarter of 2024-25, though at a moderated pace, according to the NCAER-NSE Business Expectations Survey. The survey said after improving for two consecutive quarters, business sentiments moderated in the second quarter of 2024-25 (134.3) compared to the first quarter (149.8) as well as the corresponding quarter of 2023-24 (140.7). "While all four components of the Business Confidence Index (BCI) experienced slight moderation in sentiments between the first and second quarters of 202425, the percentage share of positive responses remained well above 50 per cent, signalling continued economic dynamism, " said the survey. In the second quarter, 62.1 per cent of firms expected that overall economic conditions would improve in the next six months, while 58.0 per cent expected their financial positions to improve during the same period. The capacity utilisation was close to or above optimal level' for 96.3 per cent of the surveye

India less export-oriented, US tariff hike won't impact nation: Fitch

India, which is less export-oriented than many other Asian economies, would be relatively unaffected in case the US levies higher tariffs on imports, Fitch Ratings said on Monday. Fitch said higher trade barriers in the wake of the US elections could pose additional challenges for issuers across multiple credit sectors in Asia-Pacific (APAC). Also, weaker growth globally would weigh on macroeconomic prospects in Asia in the event of sharp US tariff increases, especially if China's economic prospects are affected disproportionately. It said that the high share of exports going to the US, coupled with high dependence on exports for growth within the region, means that any hit to exports to the US would have negative repercussions for GDP in many Asian economies, albeit to varying degrees. Fitch views Vietnam as the most vulnerable on this front, but Taiwan, Thailand, Hong Kong, Singapore, Malaysia and South Korea would also have significant exposure. A sharp increase in US tariffs cou

India’s iPhones outsmart diamonds in export race!

India’s smartphone exports, led by Apple’s iPhones, have surpassed non-industrial diamonds to become the country’s largest product export to the US!

Centre reduces export duty on parboiled rice to 10% from 20%: Govt order

India had imposed a 20% duty on parboiled rice exports in 2023 after its crop was affected by below-normal rainfall

CPD exports to contract by 18-19%; sector outlook remains negative: Report

With continued decline in demand in key markets like the US and China, cut and polished diamond (CPD) exports are likely to decline by 18-19 per cent in 2024-25, a report said on Thursday. CPD exports are estimated to decline 18-19 per cent year-on-year to decade-low levels of USD 12.5-13 billion in FY25, led by a 13-14 per cent fall in volumes, along with the softening of average realisations by 5-6 per cent, Rating Agency Icra said in its report. According to the Icra report, CPD exports from India contracted by 28 per cent in FY24 due to the worsened global macroeconomic conditions and increased competition from lab-grown diamonds (LGD). With sustained subdued demand conditions in the two key consuming markets - the US and China - the downturn in exports continues as the industry is witnessing a 19 per cent contraction in CPD exports in the first four months of FY25. The US demand contracted due to inflationary pressures and in China on account of changing consumer preferences a

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

Preparing to utilise Chennai manufacturing plant for exports: Ford

American automaker Ford on Friday said it is preparing to utilise its Chennai manufacturing plant to roll out vehicles for exports and has intimated the same to the Tamil Nadu government. The company which in 2021 had said that it would stop manufacturing vehicles in India, has submitted a Letter of Intent (LOI) to the Tamil Nadu government, confirming its intention to utilise the Chennai plant for manufacturing for exports. The announcement follows a meeting between Ford leadership and Tamil Nadu Chief Minister MK Stalin as part of his visit to the United States, Ford said in a statement. "This step aims to underscore our ongoing commitment to India as we intend to leverage the manufacturing expertise available in Tamil Nadu to serve new global markets," Ford International Markets Group President Kay Hart said. Ford said the strategic move will see the facility repurposed to focus on manufacturing for export to global markets, as part of the company's ambitious 'Ford+ growth ...

EOU's B-17 bond serves purpose of continuity bond under IGCR Rules

Rajagopalan answers SME queries related to GST, export and import matters

Ramkrishna Forgings seeks 20% exports growth as Mexico unit comes up

Company last year acquired three companies as it ramps up production capacity

India's medicine exports to US, Italy on the rise: Commerce ministry

With the government focusing on boosting domestic manufacturing of pharmaceutical products, India's medicine and antibiotics exports have started gaining significant market share in the US. According to the commerce ministry data, India is the third largest import source of 'medicine put up for retail sale' for the US. The top two are Ireland and Switzerland. In 2023, the country exported these medicines worth USD 9 billion as against 7.33 billion in 2022. With this increase in the shipments, India's share went up to 13.1 per cent in 2023 from 10.08 per cent in 2022. Share of the top exporter Ireland fell to 13.85 per cent in 2023 from 17.18 per cent in 2022 because its sales in the US went down to USD 9.5 billion in 2023 from USD 12.5 billion in 2022. The second biggest exporter Switzerland also saw its share decline to 13.7 per cent last year from 17.4 per cent in 2022. Similarly, India has increased its share among exporters of antibiotics in the Italian market. It is ranked 10

Electronics export opportunity

India must aim for greater global integration

Exports to top-10 nations grow faster than overall figures in Q1 FY25

After witnessing a 3 per cent contraction in the financial year 2023-24, outbound shipments from India saw positive growth in the three consecutive months

Non-tariff barriers: Centre readies steps to ease exporters' woes

Sets up panel, identifies challenges, to launch portal soon

Exports positive in April-June quarter despite challenges: Piyush Goyal

India's exports have recorded healthy growth in May and remained in the positive zone in June and the first quarter of the current fiscal despite global challenges, Commerce and Industry Minister Piyush Goyal has said. He also said that growth in the services sector is helping the country's outbound shipments to register positive growth rates. "In May, exports were positive, the figure for June is also positive. The first quarter is also in the positive territory," Goyal told PTI. India's merchandise exports rose 9.1 per cent to USD 38.13 billion in May. During April-May this fiscal, the outbound shipments grew by 5.1 per cent to USD 73.12 billion. The commerce ministry will officially release the export data for June on July 15. "Despite the ongoing two wars (Russia-Ukraine and Israel-Hamas), the Red Sea crisis, and container shortage issues, our exports are in a positive zone. One more advantage that we have is the fast pace growth in the services exports," the minister said. H

Exports to jobs: 5 macro signals FM should heed ahead of Budget 2024

Rural consumption slowdown and slowing bank deposits are among other issues she should consider

'$10 bn opportunity up for grabs in off patent drug market by 2029'

As many as 15 blockbuster drugs whose revenues worth USD 112 billion will be off-patented during 2023 to 2029 and the Indian pharma industry will have a growth opportunity of USD 10 billion in the form of generics (including complex), a top official of Pharmaceuticals Export Promotion Council of India (Pharmexcil), a body under the Department of Commerce said on Thursday. Addressing a press conference, Udaya Bhaskar, Director General of Pharmexcil also said Indian pharma exports recorded 8.85 per cent growth during April and May this year at USD 4.73 billion against USD 4.35 billion during the same period last fiscal. He further said with the advent of quality concerns raised by global regulatory agencies, Pharmexcil's priority has been shifted to quality management and imbibing quality culture in the industry by way of organising capacity building programmes in states to uphold the image of Indian pharma on global platform. According to the pharma exports body, India has 748 US Foo

Govt plans telecom PLI scheme revamp, may focus on MSMEs and exports

Focus to remain on absorbing more export-oriented segments, involving greater number of MSMEs

L&T looks to crack China hi-tech code; deploys on-ground teams, taps MNCs

L&T is looking at cutting down on certain imports from Europe

Exports may surge 12-15% to cross $500 billion this fiscal: FIEO

The country's merchandise exports are expected to increase about USD 60-70 billion to USD 500 billion by the end of FY25, apex exporters' body FIEO said on Thursday. In 2023-24, exports dipped over 3 per cent to USD 437 billion. Federation of Indian Export Organisations (FIEO) President Ashwini Kumar also said the country's services exports are also likely to reach USD 390-400 billion this fiscal. "We are looking for merchandise exports between USD 500-510 billion in 2024-25. In the services, we expect exports to be around USD 390-400 billion for the current fiscal," Kumar told reporters here. He said traditional markets like the US and Europe will help in boosting India's exports.

India's export reliance on US grows despite diversification push

The share of the US in India's total exports continuously declined from a high of 21.7 per cent in 1998-99 to a low of 10.1 per cent in 2010-11