Page 7 - Trade Exports

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

Andean aspirations: Why is India cosying up to Chile for a trade deal?

While both sides have shared trade interests such as agricultural products and services, the elephant in the room is Chiles expansive reserves of critical minerals, key among them being lithium

Focus on exports, diversification to boost revenue growth: RITES CMD

Proactive efforts to secure export orders for rolling stock and diversify the client base have helped improve our revenue outlook for the coming years, RITES Ltd Chairman and Managing Director Rahul Mithal said. A Navratna public sector undertaking and leading transport and engineering consultancy company, RITES this week reported a 4.3 per cent decline in its consolidated operating revenue in the March quarter to Rs 615 crore compared to Rs 643 crore in the year-ago quarter. Net profit rose by 3.4 per cent year-on-year to Rs 141 crore in the quarter. Mithal told PTI that the company's rolling stock export business was impacted due to a lack of fresh orders from many of its erstwhile African and South Asian clients during the pandemic and post-pandemic periods. He added that the Quality Assurance segment also faced challenges as Indian Railways fixed four entities, for the first time, for the Quality Assurance work through an open tendering process, impacting both the volume and ...

UP's target to triple exports by 2030 has competition from other states

For UP to achieve its target of $66 billion in exports by 2030, it would require a CAGR of 10.2%

Agri, pharma, electronics, engineering made up 50% of FY25 exports: Govt

Agriculture, pharma, electronics, and engineering goods together accounted for over 50 per cent of India's merchandise exports in 2024-25, according to government data, highlighting the country's growing strength in diverse sectors amid efforts to boost manufacturing and value-added exports. Engineering goods contributed the highest share of 26.67 per cent to India's USD 437.42 billion exports in 2024-25, while agriculture, pharmaceuticals, and electronics accounted for 11.85 per cent, 6.96 per cent, and 8.82 per cent, respectively. The data showed that the electronic goods sector saw the highest export growth rate at 32.46 per cent, jumping from USD 29.12 billion in 2023-24 to USD 38.58 billion in the last fiscal year. It was USD 23.6 billion in 2022-23 and USD 15.7 billion in 2021-22. Within this, computer hardware and peripherals, which form 3.8 per cent of the sector, saw 101 per cent growth, doubling from USD 0.7 billion to USD 1.4 billion. The main destinations for electronic

India's trade gap widens in 'tariff tantrum' month; exports surge 9%

Data released by the commerce department showed in the first month of FY26, exports grew 9 per cent to $38.5 billion while imports shot up by 19.1 per cent to $64.91 billion

Retail sets must be classified according to their essential characteristics

Firstly, the brush you supply has no stand-alone utility or commercial value since it can be used only as an accessory for applying the hair-dye

Currency paradox: Rupee's gain aids macro outlook; risks India Inc earnings

The currency has depreciated by over 3 per cent since March and currently trades at 84.8 against the greenback

No relief from QCO for inputs imported under advance authorisation scheme

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

Indian goods worth $10 bn annually reach Pakistan via third countries: GTRI

Indian goods worth over USD 10 billion are reaching Pakistan every year indirectly through ports such as Dubai, Singapore, and Colombo, bypassing trade restrictions, according to estimates of economic think tank GTRI. Explaining the system, Global Trade Research Initiative (GTRI) said that Indian firms send goods to these ports, where an independent company offloads the consignment and keeps the products in bonded warehouses, where goods can be stored without paying duties while in transit. "In the bonded warehouse, the labels and documents are modified to show a different country of origin. For example, Indian-made goods may be relabelled as 'Made in UAE'. After this change, they are shipped to countries like Pakistan, where direct trade with India is not allowed," GTRI Founder Ajay Srivastava said. This method, he said, helps firms to bypass India-Pakistan trade restrictions; sell goods at higher prices, using the third country route; and avoid scrutiny, since the trade appears to

UP to promote manufacturing, preparing policy for Rs 5 trn annual exports

Policy expected to provide Rs 10 crore as capital subsidy to investors: Official

Tamil Nadu tops electronics exports driven by Apple; up 53% in FY25

This comes after the state posted a 78 per cent increase in exports last year, from $5.37 billion in 2022-23

Serious lack of reciprocity in trade with India: USTR Jamieson Greer

The factsheet said the United States has long recognised significant trade barriers with India