Page 10 - Trade Exports

Eco Survey: Need for 'new strategic trade road map' with focus on quality

To deal with the challenges, the Survey suggested that India needs to remain competitive and enhance its participation in global supply chains

Economic Survey flags rising imports, services sector remains key export driver

A sharper rise in imports, which grew by 6.9 per cent to $682.2 billion, widened the trade deficit from $69.7 billion in 2023 to $79.5 billion in FY25 (April-December)

What does Union Budget 2025 have in store for India's trade policy?

Since the IES expired on December 31, the commerce department is seeking approval for a slightly modified version of the scheme to cover at least MSMEs

No export of raw materials, value addition must happen in India: PM Modi

Prime Minister Narendra Modi on Tuesday said he cannot accept raw materials getting exported and finished products being shipped into the country, asserting that value additions must happen here. Inaugurating the 'Utkarsh Odisha, Make in Odisha Conclave' in Bhubaneswar, Modi said he considers eastern India as the growth engine of the country, and the state plays an important role in it. "The country's development is not possible only by exporting raw materials. Therefore, we are changing the entire ecosystem and working with a new vision," he said. "The minerals are extracted here and they are exported to some other country where value addition is done and new products are made. These finished products are then sent back to India. This trend is not acceptable to Modi," he added. The PM said the aspirations of crores of people were driving India's movement on the path of development. "Today, India is moving on a path of development driven by the aspirations of crores of people. Thi

From importer to exporter: How India took over the French fries market

India exported 135,877 tonnes of French fries valued at Rs 1,478.73 crore in 2023-24, marking a significant milestone in India's processed food industry

Chatroom: Clarity needed on Rodtep scheme extension for EOU/SEZ/AA exports

That notification now allows exporters to open foreign currency accounts outside India to receive export proceeds and utilise the funds for making payments for imports

Trade game: Exports to China saw sharpest fall in December, shows data

India's shipments to 4 of top 10 destinations declined

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 ...

UP govt's new export policy to provide additional benefits to exporters

The proposed policy would introduce several incentives for exporters, especially in the food processing, handicrafts, and One District One Product sectors

Cheap imports, declining FDI challenge India's textile export ambitions

India has set the target to reach $100 billion in textile exports by 2030

The India story: Striving for a stronger share of the global trade pie

India's trade relations with the world have evolved in the last 25 years. New partnerships have been forged, old ones have been strengthened, but challenges remain

Recovery in markets, focus on key products boost export prospects for 2025

India's growing capabilities in high-value sectors like machinery and electronics are supporting the country's exports, amid global uncertainties caused by conflicts, and the gradual economic recovery in developed markets offers improved growth prospects for the Indian exporting community in 2025. Trade experts suggest that if the new US administration imposes higher tariffs on China, Mexico, and Canada, Indian exporters could benefit further by seizing those opportunities. They noted that the possible intervention of the new US administration under Donald Trump to end the Russia-Ukraine conflict could ease the Red Sea crisis, streamline global supply chains, and reduce shipping costs for traders. However, Trump's threat for reciprocal tariffs on Indian goods may have an impact on the country's outbound shipments, as additional duties affect exporters' competitiveness. The European Union's green regulations, including the Carbon Border Adjustment Mechanism (CBAM) and deforestation

Exporters seek Rs 750 cr to tap US potential amid tariff threats on China

Exporters on Thursday sought a fund of Rs 750 crore for three years to tap USD 25 billion export potential in the US, aiming to seize potential opportunities that may arise as the US President-elect, Donald Trump, has threatened to impose high tariffs on Chinese goods. In its pre-Budget meeting with the finance ministry, Federation of Indian Export Organisations (FIEO) President Ashwani Kumar has also demanded extension of the five per cent Interest Equalisation Scheme (IES). "A marketing scheme to focus on the US with a corpus of Rs 250 crore per year (Rs 750 crore overall) for three years may be launched to generate additional exports of USD 25 billion," Kumar said. He said that higher tariffs on China can create a significant opportunity for Indian exports, particularly in sectors where China has previously been a dominant supplier. Based on a study undertaken by FIEO, India can replace China in sectors like electronics and electrical equipment (USD 10 billion additional export

Exporters: Know when you can claim duty drawback and Rodtep benefits

Drawback and Rodtep will be available only against export of goods. At the time of export of goods, one must declare the value of the goods in the shipping bill

VOC Port earmarks Rs 41,860 cr to position itself as green hydrogen hub

V O Chidambaranar Port, one of the popular seaports of Tamil Nadu, has earmarked Rs 41,860 crore worth of investments, aimed at making it the Green Hydrogen-Ammonia hub of the country, a top official said. The port has also taken measures to augment capacity after witnessing an increase in cargo handling this year. V O Chidambaranar Port has handled a cargo volume of 29.70 million tonnes including 5.62 lakh TEUs of containers till December 19, 2024 this is an overall growth of 1.87 per cent and 6.74 per cent, respectively. "With the ever-increasing trend in cargo handling, the Port has initiated several strategic capacity augmentation and cargo evacuation initiatives to increase cargo throughput, enhance handling efficiency and expand its market share in the region," a press release said on Sunday. As part of a mission to position V O Chidambaranar Port as the Green Hydrogen-Ammonia Hub of India, the Port has allocated 501 acres of land to four firms for establishing Green Hydrogen

India's merchandise trade deficit widens to a record $37.8 bn in Nov

Exports contract 4.85% to $32.1 billion; imports increase by 27% to $69.95 bn

India's smartphone exports breached Rs 20K crore mark in November

Smartphone exports in November reached Rs 20,395 crore, representing a staggering 92 per cent increase over the same month last year, when the figure was Rs 10,634 crore

China's exports fall, imports decline in November falling below forecasts

China's exports slowed in November and its imports declined, falling below forecasts and underscoring potential weakness in trade at a time when its leaders are striving to boost the economy after the shocks of the COVID-19 pandemic. Customs data Tuesday showed exports grew 6.7 per cent from a year earlier, down from a 12.7 per cent increase in October. Analysts had estimated that exports had risen more than 8 per cent. Imports fell 3.9 per cent from a year earlier, reflecting weak demand from industries and consumers. With exports outpacing imports, China's trade surplus rose to USD 97.4 billion. The report came a day after Beijing pledged to loosen monetary policy and provide more support for the world's No. 2 economy. US President-elect Donald Trump has threatened to slap tariffs of 60% or more on imports of Chinese goods, complicating Beijing's efforts by threatening an area of the economy that has performed relatively well while the property sector remains in the doldrums and

Export insurance claim dismissed over delayed declarations, premium

Advance premium had to be deposited to secure coverage under Section 64VB of the Insurance Act. Failure to fulfil this obligation meant the risk was not covered

Uttar Pradesh government aims to sparkle in gems and jewellery sector

Unveils blueprint to position UP as a hub for jewellery trade and exports