Page 5 - Trade Exports

'Made in India' gets UK boost: Goyal hails 'red carpet' for local products

India-UK Free Trade Agreement boosts 'Made in India' exports. Piyush Goyal shares a state-wise list of products gaining UK access, highlighting regional gains and new global trade opportunities

28 states, UTs form export strategy to promote outbound shipments: Official

As many as 28 states and Union Territories (UTs) have formulated their export strategy with a view to promoting the country's outbound shipments, an official said on Monday. The official also said all 36 states and UTs have constituted State Export Promotion Committee (SEPC) and District Export Promotion Committee (DEPC). Further, a draft district action plan has been prepared by the regional authorities of the Directorate General of Foreign Trade (DGFT) for 590 districts. Out of this, 249 are formally notified by DEPCs. These plans include a broad strategy for promotion of exports from districts, the official said. The Centre is promoting states to engage in export promotion activities as it would help boost domestic manufacturing and job creation. "State export strategy has been prepared in 28 states/UTs," the official added. These include Uttar Pradesh, Maharashtra, and Karnataka. In the Foreign Trade Policy (FTP) 2023, the DGFT has included the 'Districts As Export Hubs' ...

Electronics exports up 47% in April-June quarter, led by US, UAE, China

The Netherlands and Germany are other major export destinations for the country's electronics exports

Japan racks up trade deficit amid threat from Donald Trump's tariffs

Japan sank into a trade deficit of 2.2 trillion yen ($15 billion) for the first six month of this year, according to government data released Thursday, as exports were hit by President Donald Trump's tariffs. In June, Japan's exports slipped 0.5% from a year earlier after its shipments of vehicles and other products were slapped with a 25% tariff. Trump has postponed implementing that higher import duty until Aug. 1, to allow time for negotiations but so far no deal has been reached. Exports in June totaled nearly 9.2 trillion yen ($62 billion), in the second straight month of declines. Imports in June rose 0.2% to 9 trillion yen ($61 billion), the Finance Ministry said. That left a trade surplus of 153 billion yen (just over $1 billion). The trade deficit in May was 637.6 billion yen, or $4.4 billion. Japan's exports to the United States fell 11% in June, with auto exports plunging 25%. Shipments to China decreased by nearly 5%. Exports to Mexico, a major auto assembly hub for Nort

India's exports to US jump 23.5% in June; imports fall over 10%

India's goods exports to the US rose by 23.53 per cent to USD 8.3 billion in June while imports dipped by 10.61 per cent to about USD 4 billion during the month, according to the commerce ministry data. During April-June, the country's exports to the US increased by 22.18 per cent to USD 25.51 billion, while imports rose 11.68 per cent to USD 12.86 billion, the data showed. The US was the largest trading partner of India in the April-June quarter of 2025-26. India and the US are negotiating a bilateral trade agreement. The Indian team is in Washington for the fifth round of talks for the pact. China, another major trading partner of India, saw a 17.18 per cent jump in exports from India to USD 1.38 billion in June and a 17.87 per cent growth in April-June to USD 4.4 billion. Imports from the neighbouring country in June rose by 2.48 per cent to USD 9.51 billion while in the first quarter of 2025-26 by 16.33 per cent to USD 29.74 billion. Singapore, Germany, France, Brazil, and Ko

India exports to US to be more competitive after duty hike on China, others

Indian exports to the US will become more competitive following imposition of higher tariffs by the Trump administration on countries, including China, Canada, and Mexico, NITI Aayog said in a report on Monday. The Aayog in its third edition of 'Trade Watch Quarterly', said there will be significant opportunities for India in the US markets both in terms of the number of products and volume of the US market. "India is expected to gain competitiveness in 22 out of the top 30 categories (HS 2 level), representing a market size of USD 2,285.2 billion," the Aayog said. It further explained that China, Canada, and Mexico are the leading exporters to the US in these categories, therefore higher tariffs on these countries at 30 per cent, 35 per cent, and 25 per cent, respectively, will enhance India's competitiveness. The Aayog said India's competitiveness will remain unchanged in 6 out of 30 categories, amounting for 32.8 per cent exports to the US and 26 per cent of the US total imports

Commerce ministry team in US; trade talks to begin today: Official

An Indian commerce ministry team has reached Washington for another round of talks on the proposed bilateral trade agreement (BTA), which will begin on Monday, an official said. Chief negotiator of India and special secretary in the department of commerce Rajesh Agrawal will join the team on Wednesday. The four-day talks will end on Thursday. India's deputy chief negotiator for the proposed BTA has reached Washington for the talks on the first phase of the BTA, the official said. The visit assumes significance as both sides have to iron out issues in sectors, like agriculture and automobiles. It is also important as the US has further postponed the imposition of additional tariffs on several countries, including India, until August 1. Last week, an official has said that "we are not differentiating between an interim or the first phase of the bilateral trade agreement. We are negotiating a complete deal. Whatever will be finished, we can package it as an interim deal and for the r

Kamarajar, Paradip & Deendayal ports to soon accommodate cape-size vessels

Major ports have achieved a draft of 14 metres, while ports like Kamarajar, Paradip and Deendayal are progressing towards 18-metre draft to accommodate large shipping vessels due to policy initiative taken by the government to make India a regional transshipment powerhouse, Shipping Secretary T K Ramachandran said on Sunday. Transshipment has historically remained a missed opportunity for Indian ports, with 75 per cent of India's transshipment cargo routed through foreign hubs like Colombo, Singapore and Port Klang. "Major Ports have achieved a draft of 14 metres, while ports like Kamarajar, Paradip and Deendayal are progressing toward 18-metre draft to accommodate Panamax and cape-size vessels. "The upcoming Vadhavan Port in Maharashtra is being developed as a world -class mega port with a natural draft of 20 metres and a planned container handling capacity of 23 million TEUs, placing it among the top 10 global container ports upon completion," Ramachandran told PTI. A draft refe

B'desh proposes to increase imports from US on first day of tariff talks

Bangladesh has proposed to import more cotton, oil, Boeing aircraft, soybeans, etc from the United States, a Bangladeshi official who participated in the talks said

Sri Lanka's apparel industry alarmed by US tariff of 30%, hopes for cut

The US takes about 40 per cent of apparel exports, helping to pull in $1.9 billion last year and make the industry Sri Lanka's third largest earner of foreign exchange, employing 300,000 people

Marine insurers monitoring Israel-Iran war, may have to up coverage rates

In case the war escalates, insurers can cancel war risk coverage, and increase marine insurance rates

India's parboiled, raw rice exports dip for 4th month in a row in May

The dip in export has come despite India lifting almost all the restrictions on overseas shipments from September 2024

Govt to meet stakeholders to assess impact of Iran-Israel conflict on trade

The commerce ministry on Friday will meet stakeholders, including shipping lines, exporters, container firms, and other departments, to assess the impact of the Iran-Israel conflict on India's overseas trade and address related issues, an official said. The industry official said that the meeting will be chaired by Commerce Secretary Sunil Barthwal. "The meeting is today. We will raise issues related to freight rates," the official said. Barthwal has earlier stated that India is keeping a close watch on the situation. Exporters have stated that the war, if escalated further, would impact world trade and push both air and sea freight rates. They have expressed apprehensions that the conflict may impact the movement of merchant ships from the Strait of Hormuz and the Red Sea. Nearly two-thirds of India's crude oil and half of its LNG imports pass through the Strait of Hormuz, which Iran has now threatened to close. This narrow waterway, only 21 miles wide at its narrowest point, h

PM to flag off first locomotive for export to Guinea on June 20 in Bihar

Prime Minister Narendra Modi will flag off the first locomotive manufactured at the Marhowrah factory in Bihar for export to the Republic of Guinea on June 20, the Railway Ministry said on Wednesday. "On June 20, 2025, Prime Minister Narendra Modi will flag off the first locomotive being exported to the Republic of Guinea," said Dilip Kumar, Executive Director of Information and Publicity, Railway Board. The Marhowrah facility will supply 150 locomotives worth more than Rs 3,000 crore for SimFer's Simandou iron ore project in Guinea, Africa, in three years. According to Kumar, 37 locomotives will be delivered in the current financial year, 82 in the next, and the remaining 31 in the third year. All locomotives will feature air-conditioned cabins and will be capable of hauling 100 wagons in pairs at maximum permissible speed, he said. The ministry noted that three types of tracks -- broad gauge, standard gauge and cape gauge -- have been laid at the Marhowrah factory for manufactur

Trade deficit narrows to $22 billion as shipments, imports contract

Despite overall decline in merchandise exports, shipments to US grew by 17%

Trying to seek early resolution to China's curbs on rare earth magnets: MEA

MEA says India is in touch with China over rare earth export curbs imposed in April and seeks predictable supply chains aligned with international practices

India's goods, services exports may reach $1 trillion in FY26: FIEO

The country's overall goods and services exports are expected to reach USD 1 trillion during 2025-26, according to apex exporters' body FIEO. In 2024-25, the exports were aggregated at USD 825 billion. Federation of Indian Export Organisations (FIEO) President S C Ralhan said merchandise exports will increase from USD 437 billion to USD 525-535 billion in 2025-26. He said that services exports may rise from USD 387 billion to USD 465-475 billion this fiscal. The main sectors which can help push the exports include electrical and electronics (USD 60 billion), machinery (USD 40 billion), chemicals (USD 40 billion), pharmaceuticals (USD 30 billion), petroleum (USD 70 billion), apparel and madeups (USD 23-25 billion), gems and jewellery (USD 30-35 billion) and agriculture (USD 55 billion).

India to restore tax refund benefits for exporters from June to boost trade

The benefits under the Remission of Duties and Taxes on Exported Products were introduced on January 1, 2021, but ended on February 5 this year

Indian tyre companies draw up road map to steer through tariff jitters

Despite low US exposure, Indian tyre makers are crafting mitigation strategies to address looming tariff threats and persistent margin pressures due to high input costs

India's marine exports jump 18% in April amid US tariff clouds

Price escalation due to the baseline tariff of 10 per cent imposed by the US on all exports from India will be adjusted by the market in the next few months, a senior official said