We should not be overly concerned about imports as long as exports' share grows: Commerce Secretary
1 week, 4 days ago

We should not be overly concerned about imports as long as exports' share grows: Commerce Secretary

Deccan Chronicle  

New Delhi: India should not be overly concerned about imports as long as exports' share continues to grow, Commerce Secretary Sunil Barthwal said on Thursday. "Because if the Indian economy is growing at 7 per cent and if the world is growing at 3-3.5 per cent rate of growth then obviously India will be requiring more consumption, more of imports and let me tell you that the role of imports in exports is also very very important," he said at a CII event. "As long as we are able to improve our exports share, we should not be too much concerned about imports and that is what I feel that we need to avoid," he added. "There is a huge possibility of providing professional services and therefore MRAs are very important," he said adding there is a need to encourage services exports.

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History of this topic

Is the spike in India’s trade deficit a worry?
3 months ago

Is the spike in India’s trade deficit a worry?

The Hindu  

The story so far: After a positive start to goods exports in the first quarter of 2024-25, there has been a blip in momentum. On the exports front, 18 of India’s top 30 segments recorded growth in July and 19 in August, but the big-ticket sectors like petroleum, and gems and jewellery, have tanked significantly. While gems and jewellery exports …

Don’t take India’s strong services exports story for granted: Goldman Sachs
7 months, 3 weeks ago

Don’t take India’s strong services exports story for granted: Goldman Sachs

The Hindu  

April 29, 2024 09:57 pm | Updated 10:08 pm IST - NEW DELHI While India’s services exports had grown sixfold between 2005 and 2023 to about $340 billion and were potentially poised to hit the $800-billion mark in 2030, Goldman Sachs cautioned against complacency citing challenges such as the lack of skilled talent and resource stress in key hubs like …

India looks for new textiles markets abroad as demand wanes in U.S., EU, says Union Secretary
11 months, 2 weeks ago

India looks for new textiles markets abroad as demand wanes in U.S., EU, says Union Secretary

The Hindu  

With demand for textiles exports turning sluggish in Europe and the U.S., India is looking for new markets through free trade agreements with countries such as Australia and the United Arab Emirates, Union Textiles Secretary Rachna Shah said here on Tuesday. Addressing a press conference, she said the Centre is taking steps to address the issues of lack of demand …

Government vows swifter nod for exporters
1 year, 8 months ago

Government vows swifter nod for exporters

The Hindu  

Union Commerce, Industry and Textiles Minister Piyush Goyal on Friday unveiled a new Foreign Trade Policy that moves away from providing incentives to exporters, but lowers a few costs for smaller firms and promises swifter clearances, along with a one-time amnesty scheme for export obligation defaults. There are no major new schemes, barring a one-time amnesty under the existing Advance …

Finance Minister Nirmala Sitharaman exhorts exporters to 'foresee' impact of global slowdown, engage with govt
1 year, 10 months ago

Finance Minister Nirmala Sitharaman exhorts exporters to 'foresee' impact of global slowdown, engage with govt

Firstpost  

Nirmala Sitharaman further said that customs authorities at the borders are keeping a tab on both exports and imports New Delhi: Finance minister Nirmala Sitharaman on Wednesday exhorted exporters to be receptive and ‘foresee’ how the recession or slowing economy abroad will pan out for them, while asking them to constantly engage with the government. With regard to imports, she …

SEPC holds session on Services Sector Exports Strategy for India@2047
2 years, 2 months ago

SEPC holds session on Services Sector Exports Strategy for India@2047

Hindustan Times  

Services Export Promotion Council, an apex trade body set by the Ministry of Commerce & Industry on September 29 organised an interactive session to discuss on ‘Transforming Workforce Skill for Services Exports' and ‘Internationalization of Higher Education'. SEPC holds session on Services Sector Exports Strategy for India@2047 Commerce Minister Piyush Goyal, Minister of State for Education Dr Subhas Sarkar and …

Budget 2022: Exporters seek support measures to boost shipments
2 years, 10 months ago

Budget 2022: Exporters seek support measures to boost shipments

Firstpost  

The Federation of Indian Export Organisations said the export sector is facing major issues due to rising freight cost and its dependence on global shipping companies Exporters have demanded support measures, including enhanced allocations for RoDTEP scheme, high import duty on plastic finished goods, setting up of an Indian shipping line and reinstating exemption for duty free import of critical …

Protection from imports time bound, says NITI Aayog Vice-Chairman
4 years, 1 month ago

Protection from imports time bound, says NITI Aayog Vice-Chairman

The Hindu  

Any tariff protection to promote local manufacturing in India will come with an in-built sunset clause, NITI Aayog Vice-Chairman Rajiv Kumar said on Friday, asserting that the country’s self-reliance mission must not be equated to it becoming a ‘protectionist’, closed economy. The government is set to extend the production-linked incentive scheme for manufacturing pharmaceuticals, medical devices and electronics announced under …

India Can Become Trusted Partner in Global Supply Chains: Piyush Goyal
4 years, 4 months ago

India Can Become Trusted Partner in Global Supply Chains: Piyush Goyal

News 18  

The world is looking for trusted partners where there is rule of law, transparency in systems, strong judiciary and democratic traditions, and India can become a key player in global supply chains as it provides all of these, Commerce and Industry Minister Piyush Goyal said on Saturday. He said India has to engage with the world with competitive prices, high …

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