Page 5 - Trade Exports

Exports to rise 6% this year, will end year on positive note: Goyal

Commerce Minister Piyush Goyal said India's exports would grow 6% this year, despite the US' 50 per cent tariffs, adding FTAs with the EU and UAE were progressing to boost trade

Govt unlikely to raise export duty soon on low-grade iron ore, pellets

The government has been considering raising the export duty to between 20 per cent and 30 per cent, from zero now

US tariff: Export Promotion Mission Scheme to be placed before Cabinet soon

The inter-ministerial consultations for the Export Promotion Mission have concluded and the proposal will soon be sent to the Union Cabinet seeking its approval, sources said. The government is considering support measures worth about Rs 25,000 crore for exporters under the Export Promotion Mission, announced in the Budget, for six financial years (2025-2031), PTI had reported citing sources last month. The mission, if approved, can help insulate domestic exporters from global trade uncertainties arising from Trump tariffs. The US has imposed a hefty 50 per cent tariff on Indian goods, starting August 27. "So export promotion mission, you know, the inter-ministerial consultations have happened, and soon we will be going to cabinet. Already in the Budget, there was an announcement, and it would be a kind of a scheme which would be fungible," sources said.

Trade deficit narrows to 25.7% at $26.59 billion in August; imports dip 10%

August 2025 trade data: The trade deficit decreased 25.7 per cent to $26.59 billion in August against $35.64 billion last year

Govt exploring alternative export markets to shield farmers from US tariffs

The government is actively exploring alternative export destinations and import substitution strategies to protect farmers from the impact of US tariffs, D K Yadava, Deputy Director General (Crop Science) at the Indian Council of Agricultural Research (ICAR), said on Monday. "The government is trying to have all alternatives to protect the interests of farmers. As far as exports are concerned, the concerned ministries are already exploring alternative countries for the export of various commodities," Yadava said at a media briefing about the ongoing event 'Dialogue Next' organised by the US-based World Food Prize Foundation for the first time in India. The remarks came in the backdrop of the Trump administration imposing a steep 50 per cent tariff on Indian goods entering America. On imports of genetically modified soybean and maize, as well as milk and milk products, Yadava said the government has "a very clear stand" and is identifying alternative import sources. The official sai

Rajasthan's trade body ARTIA seeks subsidy relief to support exporters

According to the association, the United States' move to impose 50 per cent tariffs on India has increased pressure on medium, small and micro enterprises (MSMEs)

India cautions against misuse of export measures at SCO ministers meet

India has cautioned against weaponising export-related measures or misusing them to create artificial scarcity, distort markets, or disrupt supply chains at an SCO meeting, an official statement said on Sunday. At the SCO (Shanghai Cooperation Organisation) Trade Ministers' Meeting in Vladivostok on September 6, India said that calibrated and transparent use of these steps is essential to maintain trust in international commerce. India has also called for addressing persistent trade deficits by ensuring greater market access and simplifying processes for trade facilitation. These remarks are important as India's auto and electronics sector faced issues due to export restrictions on rare earth magnets and fertiliser by China. China is a member of the organisation. India also warned that trade-linked climate measures should not result in arbitrary or unjustified discrimination. "...persistent trade imbalances must be addressed through better market access, cooperation on standards,

Japan's MOL plans to ramp up India fleet with domestically built vessels

Plans to become India's second-largest shipping firm

High manufacturing costs may erode India's gains from reforms, trade deals

Post-tariffs, a slew of reforms have been proposed by many commentators, and indeed almost all of those would be welcome

Domestic champions, global laggards: The road to global manufacturing power

The only way to be a globally competitive manufacturing power is to ensure that the domestic market is aligned to the cost and quality demanded by global markets

Govt should allocate ₹2,500 cr for exporters to join MAI exhibitions: GTRI

Expressing concern over decline in export promotion funding, economic think tank GTRI said on Saturday said the government should consider allocating Rs 2,500 crore for exporters to participate in global exhibitions under the Market Access Initiative (MAI), which has not received any funds this fiscal. It said that exporters have missed critical opportunities between April and August to participate in overseas fairs. "With a modest budget of only Rs 250 crore in past years, the scheme was already too small for a USD 440 plus billion export economy. It must be revived with a scaled-up budget of Rs 2,500 crore annually, with funds released at least a year in advance to allow Indian firms to secure high-visibility slots at global fairs," Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. He also called for resumption of Interest Equalisation Scheme (IES), immediate roll out of the Export Promotion Mission (EPM), and E-commerce Export Hubs to boost exports amid 50 pe

Trump 50% tariff: How India stacks up against Asian, Latin American peers

India's effective tariff rate has soared to 50 per cent, while its peers face lesser tariffs despite their larger trade surpluses with the US

Textile hubs in Surat, Tiruppur suspend output as US tariff takes effect

The 50 per cent tariff will affect the export prospects of several industries in India's largest market and also poses a risk for India's near-term growth and capital flows trajectory

Are export sectors in the firing line? Markets brace for tariff fallout

From textiles and gems to auto parts and seafood, Indian exporters brace for shrinking US orders, job losses, and weaker earnings as Trump's tariff surge takes effect on August 27

UP scouts new markets as US tariffs hit textiles, jewellery and leather

Uttar Pradesh looks to Latin America, Europe, Africa and South-East Asia for exports as US tariffs squeeze textiles, jewellery and leather, with a new policy aiming Rs 5 trillion exports by 2030

Export curbs ease positive, India must cut reliance amid $100 bn gap: GTRI

China's decision to ease restrictions on exports of rare-earth minerals and fertilisers to India is a positive signal, but India must work to reduce its dependence on the neighbouring country, with which it runs an alarming USD 100 billion trade deficit, economic think tank GTRI said on Wednesday. It said that between 2014 and 2024, China's dominance over India's import landscape only widened. Its share in India's telecom and electronics imports reached 57.2 per cent, while machinery and hardware accounted for 44 per cent. Chemicals and pharmaceuticals followed closely at 28.3 per cent, it said. For India, the Global Trade Research Initiative (GTRI) said, the only real safeguard is to build strength at home by cutting dependence, investing in deep manufacturing, and becoming a true product nation. "A stronger, more self-reliant India will be better placed to engage China on equal terms, while keeping relations steady and pragmatic rather than hostage to sudden shifts," GTRI Founder

India remains fully engaged with US on trade negotiations: Commerce Secy

Barthwal said that Washington is a very important trade partner for New Delhi. A US delegation is scheduled to arrive in New Delhi for the next round of negotiations on August 25

Trump's 50% trade tariff threatens India's manufacturing ambitions

Trump's move would give India the highest tariff rate in Asia, threatening a manufacturing sector that Prime Minister Narendra Modi has spent a decade trying to build

Sugar trade body AISTA seeks export quota reform to boost shipments

Sugar trade association AISTA on Wednesday requested the government to allocate export quotas only to mills willing to ship from their own facilities, saying the current system hampers exports and hurts mill profitability. The All India Sugar Trade Association (AISTA) said the existing quota system, which distributes limited export allocations to all mills based on past production, allows remote or export-reluctant mills to sell their quotas to others, leaving substantial quantities unexported. "This leads to mills located at remote places or not interested in exports to sell their export quota to others. A substantial quantity even remains unexported, resulting in a higher than desired stock of sugar with mills," AISTA said. Sugar exports are currently on a restricted list, with the government controlling volumes through quotas distributed proportionally among mills. AISTA also criticised the 50 per cent export duty imposed on ethanol since January 15, 2024, saying it has failed t

India signs trade cooperation pact with Zambia to boost cooperative exports

India has signed an agreement with Zambia to promote trade alliances between cooperatives of both nations, Cooperation Minister Amit Shah said on Tuesday. The cooperation ministry is working to strengthen India's cooperative export ecosystem through Indian missions abroad, Shah said in a written reply to the Lok Sabha. A memorandum of understanding was signed with Zambia on July 18 to promote cooperatives and provide facilities for trade alliances between cooperatives of both countries, he said. The ministry is working through Indian missions abroad to provide market information to National Cooperative Exports Ltd (NCEL) and connect with importers from specific countries, Shah added. NCEL has also signed memoranda of understanding (MoUs) with Senegal and Indonesia-based entities Sinton Vantage Trading and PT Sinton Surini Nusantara, he said.