Page 7 - Trade Exports

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

US cotton exports to India rise on lower prices, tariff uncertainties

Exports to India from February to April jumped to 155,260 running bales, from 25,901 shipped during a year ago period

SEA urges govt to lift ban on de-oiled rice bran exports to clear stock

Solvent Extractors' Association (SEA) on Wednesday urged the government to lift the export ban on de-oiled rice bran to allow clearance of surplus stock. De-oiled rice bran is used as feed primarily for cattle and poultry. "The ban has left processors struggling to dispose of de-oiled rice bran, forcing many to shut down operations or cut capacity - impacting both the rice milling industry and rice bran oil production," SEA said in a statement. The government imposed the ban on July 28, 2023, and has extended it multiple times - most recently in February 2025, through September 30, 2025. "We have urged the government to evaluate the wide-ranging economic, agricultural, and environmental benefits of lifting the ban," the Mumbai-based trade body said. SEA argued that exporting surplus de-oiled rice bran would allow efficient clearance of stock, enable sustained processing, improve capacity utilization, maintain vegetable oil production, increase employment and foreign exchange ...

US-China tariff war opens door for India to emerge as global toy export hub

As the US-China tariff war intensifies, the Indian toy industry leaders are calling the situation a "golden opportunity" to position India as a major export hub for toys, especially to the United States, a trade body official said on Sunday. The US recently imposed a steep 145 per cent tariff on toy imports from China a move that could reshape the global toy trade. China, which previously accounted for nearly 77 per cent of US toy imports, is expected to see a significant drop in exports due to the high tariff, opening up space for alternate suppliers, an official said. Akshay Binjrajka, President of the Toy Association of India, told PTI that India is well-positioned to fill the emerging vacuum. "The US toy market, valued at around USD 41.7 billion, offers a massive opportunity for Indian manufacturers," he said, adding that Indian products can now compete with Chinese offerings on both quality and price. India's toy exports have already witnessed a steady rise from USD 40 mill

US tariffs on China could make some Indian products more competitive: GTRI

Imposition of steep 125 per cent tariffs on China by the US could help Indian products from sectors such as textiles, leather, engineering, and electronics become more competitive in America, think tank GTRI said on Friday. However, the benefits may be short-lived unless India proactively leverages this breathing space to strengthen its export ecosystem, streamline compliance processes, and enhance engagement with US buyers, the Global Trade Research Initiative (GTRI) said. It suggested that the government reintroduce interest equalisation scheme to help small firms with access to cheaper working capital credit and customs expediting shipments. The 90-day suspension of country-specific tariffs, as outlined in the new executive order, offers a small window of opportunity for Indian exporters, GTRI Founder Ajay Srivastava said. While Chinese goods now face steep tariffs of up to 125 per cent, imports from India will be subject to a flat 10 per cent additional duty, significantly lowe

India scraps transshipment facility for Bangladesh's third-country exports

The government has terminated the transshipment facility that allowed export cargo from Bangladesh to third countries using Indian land customs stations en route to ports and airports, according to a government circular. Indian exporters, mainly from the apparel sector, had earlier urged the government to withdraw this facility to the neighbouring country. The facility had enabled smooth trade flows for Bangladesh's exports to countries like Bhutan, Nepal, and Myanmar. It was provided by India to Bangladesh in June 2020. "It has been decided to rescind... circular...dated June 29, 2020, as amended with immediate effect. Cargo already entered into India may be allowed to exit the Indian territory as per the procedure given in that circular," the Central Board of Indirect Taxes and Customs' circular, dated April 8, said. The decision comes against the backdrop of the recent comments made by Bangladesh Chief Adviser Muhammad Yunus on India's northeastern states. Yunus while addressin

Watch: China digs out Reagan's 1987 speech on tariffs to rebuke Trump

China posted the video after Donald Trump put an additional 34 per cent tariff on Chinese goods. The footage shows Reagan warning that businesses shut down as a result of imposing tariffs

FIEO seeks 5% interest subvention as high US tariffs delay export payments

Seeking resumption of interest subsidy scheme, the Federation of Indian Export Organisations (FIEO) on Tuesday said the additional 26 per cent US tariffs from April 9 will significantly raise American importers' customs duty bills, delaying payments to Indian exporters. The organisation urged the government to immediately announce a 5 per cent interest subvention to ease the looming liquidity crunch. "From April 9, the US importers will have to pay 26 per cent duty upfront. Earlier it was zero-4 per cent. The high tariffs will put an additional burden on them, and for that, they would have to seek credit and delay our payments. The tariffs are going to impact the payment cycle for us. We request the government to immediately announce an interest subvention scheme for all the exporters," FIEO President SC Ralhan told PTI. In India, the repo rate stands at about 6.25 per cent, with exporters bearing interest rates ranging between 8 to 12 per cent or even more, depending on the spread

Welspun One gets construction loan worth Rs 2.3K crore from Nabfid

The JNPA logistics park, spanning 55 acres, is Welspun One's largest logistics development in India

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