Page 24 - Trade Exports

Jute goods exports get the sack on global slump; economies taper off buying

Major economies taper off buying despite global push for sustainable packaging material

Exports see sharpest decline in 3 years; trade deficit narrows to $20.1 bn

Outbound shipments drop 22% to $33 bn; imports decline over 17% to $53 bn

India-China trade witnesses first signs of slowdown in years: Report

The India-China trade, which in recent years rose sharply despite bilateral tensions over the border dispute, showed the first signs of a slowdown in years falling by 0.9 per cent in the first half of this year. This came as China's overall foreign trade declined by about five per cent as its economy struggled to recover from COVID blues. China's exports to India in the first half of this year totalled USD 56.53 billion compared to USD 57.51 billion last year registering a decline of 0.9 per cent, according to the data released by Chinese customs on Thursday. India's exports to China during the same period totalled USD 9.49 billion compared to USD 9.57 billion last year. The trade deficit in the first half of 2023 too declined significantly to USD 47.04 compared to USD 67.08 billion last year. Last year was a bumper year for India-China trade as it touched an all-time high of USD 135.98 billion despite the continued chill in the bilateral ties over the military standoff in eastern

Navigating the carbon-tax era in trade

The EU's carbon tax is set to shake up world trade, but through careful preparation, India can turn this to its advantage

Increasing eco ties between India, US to help boost exports: Exporters

Increasing economic ties between India and the US would help boost the country's exports to America, according to exporters. The economic ties have received a push from Prime Minister Narendra Modi's recent visit to the US, Apparel Export Promotion Council (AEPC) Chairman Naren Goenka said in a statement. "India's share in US's ready-made garment import from the world has increased to 5.7 per cent in 2022, which will further improve in future," he said. The apparel export to the US from India in 2022 has also increased to USD 6 billion, registering a growth of 33.7 per cent as compared to 2021, Goenka said. The Federation of Indian Export Organisations (FIEO) too said that the US and India have agreed to enhance the bilateral trade to USD 500 billion by 2030. "Settlement of the six trade disputes bilaterally will create a congenial environment to foster our trade relations. Withdrawal of additional duty on steel & aluminium will push their exports in to US market ," it said.

Easy trade finance system key to achieve $2 trn export target by 2030: DGFT

Traders and the government have to work on the issue of obtaining easy finance both for domestic and cross-border trade

CBIC should clear the air quickly on pre-import issues

It is difficult to understand why the government has not yet come out with a circular prescribing the procedures that the exporters have to follow.

Post-pandemic, a double-digit surge in India's exports to Germany

The spike, which comes amid a recession in the European nation, is led by a surge in the sale of telecom instruments

Bikano eyes Rs 200-crore sales through export market, expects 40% growth

Bikano has curated its product lineup by offering numerous nutritious and delectable options that are free from preservatives

India's exports may hit $900 bn despite global headwinds in FY24: Exporters

Merchandise exports could expand to between $495 billion and $500 billion, while services exports could touch $400 billion in the year ending March 2024

India's exports to Latin America likely to be highest in a decade in FY23

Exports crossed $16 billion as of February; trade deficit shrinking from pre-pandemic levels

India's exports to UAE likely to grow by 60% to $50 billion by FY27

Officials expect exports to touch $50 billion during the same period

CHATROOM: 'No assent needed to re-export goods imported under IGCRS'

There is no requirement under FEMA that you must have an IEC before receiving advance payment for exports

Supported by PLI, export of electronic products overtake garment exports

Data released by the commerce department estimates that the exports of electronic products may have increased over 50 per cent in the financial year 2022-2023 to $23.6 billion

Centre to come up with a single trade body to promote exports: Report

Last month, the Centre unveiled its new foreign trade policy (FTP 2023) setting a target of achieving $2 trillion in exports by 2030

Goods, services exports to cross $760 bn in FY23:, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Tuesday said the country's merchandise and services exports are estimated to cross USD 760 billion in the current fiscal ending March 31. Exports grew to USD 676 billion in 2021-22 from USD 500 billion. Speaking at the annual session of Assocham here, Goyal said that at a time when the whole world is facing recession, high inflation and elevated interest rates, India is performing well. Goyal stressed that over the last 9 years, the focus of the Modi-government has been on building the foundation blocks which are necessary for an economy to have many years of uninterrupted and sustainable growth. Various steps being take by the government are making India more cost competitive, be it the huge investment in infrastructure coupled with logistics, technological advancement, or the PM GatiShakti, he said. He also said the performance of India's global trade has proved the naysayers wrong. "I can say with great pride, happiness, and thank

China's biggest export hub struggles to stay afloat amid uncertainties

Located 50 km from Shanghai, Kunshan used to boast up to 30 per cent higher wages than other provinces, but now the companies there are cutting back their production amid the slowing economy of China

Samsung eyes expansion, planning to make India smartphone manufacturing hub

The South Korean electronics major plans to invest in setting up smart manufacturing capabilities at its second-largest mobile phone plant in Noida

South Korean exports to Japan expected to rise if ties normalise: Report

South Korean exports to Japan will rise 3.5 trillion won ($2.69 billion) this year if Seoul's export structure to Tokyo returns to the status it had in the 2017-2018 period

'Importers should ensure that certificate of origin is genuine'

Business Standard brings you the fortnightly Q&A on SMEs