Page 7 - Trade Exports

India's overall exports likely to have crossed $800 billion in FY25

The country's goods and services exports are estimated to have crossed USD 800 billion in 2024-25, though merchandise shipments have remained flat, sources said. The 2024-25 figures for exports and imports will be released by the commerce ministry on April 15. The sources added that in 2025-26, the country's merchandise exports will record a positive growth. In 2024-25, the exports are "flat", the sources said. Exports are in the negative for the fourth month in a row in February due to global economic uncertainties. India's merchandise exports stood at USD 395.63 billion during April-February 2024-25 as against USD 395.38 billion in the same period previous year. The estimated value of service exports during April-February 2024-25 is USD 354.90 billion as compared to USD 311.05 billion in April-February 2023-24.

SC Ralhan takes charge as new president of FIEO, replaces Ashwani Kumar

Exporters' body Federation of Indian Export Organisations (FIEO) on Tuesday said SC Ralhan has assumed the role of the new president of the body. He has replaced Jalandhar-based exporter Ashwani Kumar. FIEO also said that Ravikant Kapur has taken charge as the vice-president of the organisation. Ralhan has over 50 years of experience in exports, particularly in the engineering and hand tools industry. He is also the Managing Director of Ludhiana-based Sri Tools Industries. Ralhan emphasized his commitment to tackling the ongoing tariff and trade barriers that have impacted Indian exporters. "He outlined a proactive strategy that includes engaging with global trade bodies and policymakers to negotiate favourable tariff structures and reduce restrictions; promoting export diversification to mitigate risks associated with over-dependence on specific markets, ensuring swift policy interventions to counter unfair trade practices and enhancing global competitiveness by advocating for ..

Panel calls for urgent attention on geopolitics-borne shipping challenges

Clarify strategic vision and viability of divestment-bound Shipping Corporation, says panel

Removal of 20% onion export duty to boost farmers' income: Shivraj Chouhan

The government's decision to withdraw 20 per cent customs duty on onion exports effective April 1 will boost farmers' income, Agriculture Minister Shivraj Singh Chouhan said on Monday. "There will be no duty on onion export so that onion grown by our farmers with hard work reaches the global markets, and they can get better price and remunerative price," Chouhan said in a video statement. The minister said the export duty was earlier fixed at 40 per cent, but was reduced to 20 per cent when onion prices started falling and farmers began getting lower returns. "Now, the government has decided that 20 per cent export duty should also be removed completely," he added. According to a notification issued last week by the Finance Ministry, the export duty withdrawal will come into effect from April 1. Chouhan said the Narendra Modi government is "farmer-friendly" and ensuring remunerative prices for farmers is its "priority and commitment". The export duty removal aims to protect domes

Centre finalising export schemes to shield exporters from US tariffs

Exporters are seeing the worrying trend of holding back orders due to anticipation of the fear of reciprocal tariffs by the US

CBIC must re-examine, clarify on non-duty paid inputs for drawback

Section 75(1) of the Customs Act, 1962, allows drawback of the Customs and Central Excise paid on the inputs used in the manufacture or processing of the export products

China's exports, imports weaken in Jan-Feb as demand slides amid trade war

China's exports rose a less-than-expected 2.3% in January and February from a year earlier while imports fell more than 8% in a slow start to a year dogged by uncertainty over US tariffs and other policies. Economists had forecast that exports would rise 5% year-on-year and that imports would edge higher. China's overall trade surplus grew to $170.52 billion in the first two months of the year. China's customs agency typically publishes combined trade data for January and February to avoid any distortion from slowdowns during the week-long Lunar New Year holidays. Export growth cooled over the first two months of 2025, with tariff front-running providing less of a boost to demand than we had anticipated, said Julian Evans-Pritchard of Capital Economics. This slowdown comes before any substantial hit from tariffs, which will almost certainly lead to sharp falls in shipments to the US before long, he said. Evans-Pritchard said that the slowdown in imports suggests that the pick up i

World sees India as trusted partner, industry must take advantage: PM Modi

Prime Minister Narendra Modi on Tuesday asked the Indian industry to take "big steps" for taking advantage of global opportunities at a time when the world is looking at India as a trusted partner, which can produce quality goods. Addressing a post-Budget webinar on Regulatory, Investment and Ease of Doing Business Reforms, Modi also said that amid supply-chain disruptions caused by economic uncertainties globally, the world today needs a trusted partner which can produce high-quality products and have a reliable supply chain. "Our country is capable of doing this, all of you (industry) are capable, this is a great opportunity for us. I want that our industry should not look at these expectations of the world as a mere spectator. We cannot remain spectators, you will have to look for your role in this, you will have to seek opportunities for yourself," Modi told the industry players. The Prime Minister said the government is working together with the industry for the last 10 years a

How quality control orders are crippling India's trade competitiveness

India's exporters are already under dire threat from the US. That only makes it more important that they should not be attacked from the domestic side. QCOs must be eliminated immediately

India, EU to push for long-pending free trade agreement by 2025-end

The trade deal will be accompanied with pacts on investment protection and geographical indicators

Useful initiatives from CBIC to simplify trade for importers, exporters

The CBIC Customs Manual 2025 explains in simpler words the role of the Customs, various legal provisions and gives the gist of relevant departmental instructions till February 1

UK, EU step up FTA talks with India in US President Donald Trump era

Piyush Goyal to meet UK, EU officials this week

Green India Polymers inks Rs 347 crore export deal with Canada's Meridian

Polymer recycler and trader Green India Polymers has entered into a collaboration with Canada-based Meridian Polycorp Ltd (Meridian) for the supply of PET flakes worth USD 40 million (around Rs 347 crore) over three years. Under the partnership, the Indian PET and HDPE recycler will export 40,000 MT of PET flakes worth USD 40 million sourced primarily from underdeveloped regions, Green India Polymers said in a statement on Friday. The partnership is aimed at incentivising waste collection, and combating poverty while ensuring compliance and delivering high-quality recycled products to brand owners worldwide, it added. Meridian will serve as the exclusive global distributor of GIP's recycled PET flakes. With an annual recycling capacity of 8,000 MT, GIP has successfully exported over 40,000 MT of recycled PET flakes to major markets, including the United States, Mexico, Germany, Morocco, and Malaysia. Amit Mani, Founder & MD of Green India Polymers said, By combining our ...

India's dependency on China upstream imports on the rise: McKinsey report

India's exports to China are declining, suggesting an emerging asymmetrical trade relationship between the world's two largest developing economies

Trump admin moots 25% tariffs on auto, pharma, semiconductor imports

US risks shortages as India dominates generics space; automakers see muted pain

Commerce department likely to seek more funds to help MSME exporters

Current allocation may not be enough to design and implement support schemes

Widening merchandise trade deficit in January raises dumping concerns

But the figure narrowed during April-Jan, blunting these apprehensions

Trade deficit widens to nearly $23 billion in January as exports shrink

During April-January, exports grew only 1.39 per cent, while imports saw a 7.4 per cent increase

US' reciprocal tariffs on Indian exports will have a limited impact: SBI

The latest report by SBI's Economic Research Department suggests that the overall bilateral negotiations between India and US could provide further collateral benefit to India

Expect export growth to remain strong in coming quarters: Hinduja

Geopolitical turmoil has risen due to ongoing wars like the Russia-Ukraine conflict and the Israel-Gaza crisis, causing global instability