Exports Jump 58.23% to $ 34 Billion in March; 7.4% Dip in 2020-21
3 years, 8 months ago

Exports Jump 58.23% to $ 34 Billion in March; 7.4% Dip in 2020-21

News 18  

The country’s exports jumped by 58.23 per cent to $ 34 billion in March as key sectors such as engineering, gems and jewellery and pharmaceuticals recorded healthy growth rate during the month, according to the Commerce Ministry’s provisional data. In March 2020, the exports stood at $ 21.49 billion, which was a decline of about 34 per cent over March 2019 due to global slowdown induced by the Covid-19 crisis. “India’s merchandise exports in March 2021 were $ 34.0 billion as compared to $ 21.49 billion in March 2020, an increase of 58.23 per cent,” the ministry said in a statement. Commerce and Industry Minister Piyush Goyal in a tweet said: “Make in India, Make for the World: Merchandise exports in March 2021 grew by 58 per cent year-on-year to $ 34 billion, the highest ever in Indian history.

India Indian Exports Imports Billion Cent 2020  month  5823  imports  exports  202021  compared  jump  cent  dip  34  2020  billion  74  indian

History of this topic

India’s trade braces for an action-packed 2025
1 day, 7 hours ago

India’s trade braces for an action-packed 2025

Live Mint  

India’s external trade, navigating a phase of uncertainty owing to the European Union's new carbon tax on imports and slowing consumption in Europe, is set face further pressure. Yet, according to Pralok Gupta, associate professor, Indian Institute of Foreign Trade, which operates under the ministry of commerce and industry, “If US imposes high tariffs on China, India may face collateral …

Ajit Ranade: India needs more sectors to be reliable dollar earners
2 days ago

Ajit Ranade: India needs more sectors to be reliable dollar earners

Live Mint  

India presently has more than a quarter trillion dollars of essential imports. Domestic production capacity for all these is unlikely to become ‘ atma nirbhar ’ in the near future, even as demand will grow as India chugs at a 7% or 8% growth rate. In a report, Ajay Srivastava, founder of Global Trade Research Initiative, analysed the structural changes …

Rupee at 85 to a Dollar: Sinking Towards 100?
2 days, 1 hour ago

Rupee at 85 to a Dollar: Sinking Towards 100?

The Quint  

India has indeed developed a strong export franchise in not only IT services but also in setting up global capability centers that employ over 1.5 million talented Indians for highly productive use. India, in contrast to its merchandise counterpart, import much less of services, and generate good surplus despite Indians’ itch to travel abroad and seek overseas education. India exported …

Leather exports likely to grow by over 12 pc to USD 5.3 bn this fiscal: CLE
2 days, 23 hours ago

Leather exports likely to grow by over 12 pc to USD 5.3 bn this fiscal: CLE

Live Mint  

New Delhi, Dec 22 The country's leather and footwear exports are expected to grow by over 12 per cent to USD 5.3 billion in the current financial year on account of healthy demand in key global markets, CLE Chairman Rajendra Kumar Jalan has said. "The sector has the potential to reach a total turnover of USD 47 billion by 2030, …

Export of special technical textile products on rise, says NTTM official
5 days ago

Export of special technical textile products on rise, says NTTM official

The Hindu  

“Export of special technical textile products grew 6.2% between April and November compared with the same period last year,” said Ashok Kumar Malhotra, Mission Director of the National Technical Textiles Mission. Mr. Malhotra told The Hindu on Friday that the exports were worth ₹2,915 crore from April to November this year compared to ₹2,345 crore during April - November last …

What India-US trade could look like after Trump takes office
5 days, 21 hours ago

What India-US trade could look like after Trump takes office

Live Mint  

By Manoj Kumar NEW DELHI, Dec 19 - India is preparing for possible trade talks with the United States, aiming for increased investments from U.S. companies and higher exports once President-elect Donald Trump takes office. Here are key commercial issues between the two countries: TRUMP POLICY ON CHINA India seeks to leverage Trump's policy by capitalising on U.S. trade tension …

Services led exports are a mixed blessing for the Indian economy
6 days, 5 hours ago

Services led exports are a mixed blessing for the Indian economy

Live Mint  

If every cloud has a silver lining, the glow around India’s data that shows November’s trade deficit at a record high of $37.9 billion is the remarkable performance of service exports. In a scenario where US President-elect Donald Trump has threatened to slap “reciprocal" tariffs on India, this strong showing of service exports and declining reliance on the export of …

Indian economy to grow 6.6% in FY26: Ind-Ra
6 days, 13 hours ago

Indian economy to grow 6.6% in FY26: Ind-Ra

The Hindu  

India Ratings and Research on Wednesday projected the Indian economy to grow at 6.6% in 2025-26, up from 6.4% in the current fiscal year. Ind-Ra believes investments will be a key growth driver for the Indian economy in FY26, like in FY22 and FY24. While the June quarter GDP growth of FY25 was impacted by the combination of a strong …

Rahul slams govt over trade deficit touching all-time high
1 week ago

Rahul slams govt over trade deficit touching all-time high

Deccan Chronicle  

New Delhi: Slamming the Modi government, Leader of Opposition in the Lok Sabha Rahul Gandhi on Wednesday said prioritising crony businesses over play-fair ones leads to weakened manufacturing sector, depreciating currency, record high trade deficits, high interest rates, falling consumption and soaring inflation.Tagging a media report which said that trade deficit and imports are at an all-time high, Gandhi hit …

Trade shocker: On November’s trade estimates
Trending News
1 week ago

Trade shocker: On November’s trade estimates

The Hindu  

This October’s foreign trade numbers had offered a sliver of hope for India’s generally weak export story over the past couple of years, as goods exports grew at a 28-month high pace of 17.2%. As in August, November’s import bill spike was led by gold imports that jumped 331.5% from last November to a whopping $14.9 billion. Gems and jewellery …

DC Edit | Time to focus on service sector
1 week ago

DC Edit | Time to focus on service sector

Deccan Chronicle  

India’s service exports outstripped merchandise exports for the first time ever in November 2024, according to the commerce ministry’s trade data. After sustained growth beginning from February 2024, service exports stood at $37.6 billion and merchandise exports at $32.1 billion in November 2024. While India is known to export more services than it buys from other countries, the value of …

India's Gold Imports Surge 132% in November
Trending News
1 week ago

India's Gold Imports Surge 132% in November

Deccan Chronicle  

Chennai: Gold imports went up 132 per cent in volume terms to 130 tonnes in the month of November. Gold imports in volume terms went up 132 per cent to 130 tonnes in November against 56 tonnes in the same month last year. Silver imports between January and November stood at 7500 tonnes, which was 121 per cent higher than …

Record trade deficit adds to rupee’s challenges, may open to all-time low
1 week, 1 day ago

Record trade deficit adds to rupee’s challenges, may open to all-time low

Live Mint  

By Nimesh Vora MUMBAI, Dec 17 - The Indian rupee may slip to an all-time low on Tuesday with the currency, already under pressure from slowing growth, choppy equity flows and a dollar rally, will have to contend with an unexpected widening in trade deficit to a record high. The jump in gold imports and weak exports pushed India's merchandise …

Trade deficit at a record $38bn as gold imports rise
Top News
1 week, 1 day ago

Trade deficit at a record $38bn as gold imports rise

Hindustan Times  

India’s merchandise trade deficit widened to a record $37.84 billion in November, driven primarily by surging gold imports and falling exports, a trend experts said threatens to add pressure on the rupee which is already strained by three months of portfolio outflows. Imports, however, surged by 27% to $69.95 billion compared to $55.06 billion in November 2023, mainly due to …

India’s Trade Deficit Widens to Record as Gold Demand Soars
Top News
1 week, 1 day ago

India’s Trade Deficit Widens to Record as Gold Demand Soars

Live Mint  

-- India’s trade deficit expanded to a record high in November, as the nation’s import bill ballooned, particularly due to a rise in gold shipments. The gap between exports and imports stood at $37.8 billion in November, trade ministry data showed Monday, much higher than the $23 billion deficit forecast by economists in a Bloomberg survey. A widening trade deficit …

India’s imports rises to 27%, touches to record high of almost $70 billion
1 week, 1 day ago

India’s imports rises to 27%, touches to record high of almost $70 billion

The Hindu  

India’s merchandise exports fell 4.83% to $32.11 billion in November while the import bill jumped 27% to a record high of almost $70 billion, as per data released by the Commerce Ministry. This is the third time in four months that India’s import bill has hit a record high, but November’s tally surpasses the last two occasions by a wide …

India faces high exposure to US trade policy shift
2 weeks, 5 days ago

India faces high exposure to US trade policy shift

Deccan Chronicle  

Chennai: India will be one of the key economies that are most exposed to a potential trade policy shift in the US under the new regime. The 2025 trade outlook is clouded by potential US policy shifts, including broader tariffs that could disrupt global value chains and impact key trading partners, said UNCTAD in its global trade update. This 3.3 …

India’s exports rise, boosting global presence
3 weeks ago

India’s exports rise, boosting global presence

Deccan Chronicle  

New Delhi: India is eyeing to be a global economic powerhouse with its remarkable achievements in the export landscape. “India’s export performance in several key product categories has shown notable success, with the country maintaining or improving its rank among the top 10 global suppliers, all with export values exceeding $1 billion in 2023,” the ministry said. “The petroleum sector …

Commerce Ministry Reviews India-US Trade Ties Amid Trump’s Controversial Remark
3 weeks, 1 day ago

Commerce Ministry Reviews India-US Trade Ties Amid Trump’s Controversial Remark

ABP News  

The commerce ministry is reviewing aspects of India-US trade relations, focusing on the implications of statements made by US President-elect Donald Trump during his election campaign and after the results, an official said, according to a PTI report. Trade experts have argued that Trump’s characterisation of India as an "abuser" of tariffs is unfair, as many countries, including the US, …

India's GDP growth slows to 5.4% in Q2 2024-25: Govt data
3 weeks, 4 days ago

India's GDP growth slows to 5.4% in Q2 2024-25: Govt data

Hindustan Times  

India's Gross Domestic Product growth slowed down to 5.4% during the second quarter of the financial year 2024-25 due to the falling growth rate in manufacturing, consumption, and mining. India's GDP growth slows to 5.4% in Q2 2024-25, govt data shows In comparison, the GDP growth rate was 8.1% in the second quarter of 2023-24, according to government data released …

India-China trade: An alarming $18 billion discrepancy
3 weeks, 6 days ago

India-China trade: An alarming $18 billion discrepancy

Live Mint  

India-China trade data for 2023 reveals a widening discrepancy, with India's reported imports from China falling significantly short of China's export figures, raising concerns over potential anomalies such as under-invoicing, misclassification, and inconsistent reporting practices. In 2023, India's merchandise imports from China stood at $99.59 billion, which was 18.2% lower than the $117.68 billion worth of exports reported by China, …

India, EU gear up for 10th round of FTA negotiations
4 weeks ago

India, EU gear up for 10th round of FTA negotiations

Hindustan Times  

Fresh momentum in India-European Union free trade negotiations has emerged against the backdrop of global uncertainties and shifting geopolitical equations after the US presidential elections, as top negotiators from both sides met in Brussels recently to prepare for the 10th round of talks. India, EU gear up for 10th round of FTA negotiations The 27-member European bloc sees India, with …

Nepal's trade deficit crosses Rs 460 billion in first four months of FY
1 month ago

Nepal's trade deficit crosses Rs 460 billion in first four months of FY

Firstpost  

Nepal’s trade deficit with India, the largest trading partner, has crossed Rs 281 billion in the first four months of the current fiscal year. Nepal’s trade deficit crossed Rs 460 billion in the first four months of the current fiscal year, according to official figures. As per the details released by the Customs Department, Nepal imported goods worth Rs 513.38 …

Demand from European markets fuels recovery in India’s textile exports amid Bangladesh crisis
1 month ago

Demand from European markets fuels recovery in India’s textile exports amid Bangladesh crisis

Live Mint  

Indian textile exports are showing signs of recovery in FY25, with demand from European markets playing a crucial role in boosting figures, according to data from the ministry of commerce and industry. However, the numbers still fall short of the $5.84 billion achieved during FY23, the commerce ministry data showed, highlighting recovery challenges despite the growing interest in Indian textiles …

India: Services Exports to Surpass Merchandise Shipments by 2030
1 month ago

India: Services Exports to Surpass Merchandise Shipments by 2030

Deccan Chronicle  

Chennai: With a growth rate double that of merchandise exports, services export is set to surpass the former in five years. Between FY2019 and FY2024, India’s merchandise exports grew at a compound annual growth rate of 5.8 per cent, while services exports surged ahead at a robust CAGR of 10.5 per cent. According to GTRI, at this rate, services exports …

Pharma, electronics and engineering goods among India’s top exports during Apr-Oct
1 month ago

Pharma, electronics and engineering goods among India’s top exports during Apr-Oct

Live Mint  

New Delhi: India's merchandise exports continued their upward trajectory during April-October, with 21 of the top 30 sectors registering growth in value terms, buoyed by rising global demand for Indian goods. Growth in key sectors like pharmaceuticals, electronics, and engineering goods contributed to the overall gains, while a sharp decline was reported in traditionally strong sectors—petroleum and gems and jewellery—amid …

India’s trade deficit with China soars during April-October despite import curbs
Trending News
1 month, 1 week ago

India’s trade deficit with China soars during April-October despite import curbs

Live Mint  

New Delhi: India’s merchandise trade deficit with China has risen 13% during the first seven months of the current fiscal year, despite government measures aimed at cutting reliance on the Asian manufacturing major and restrictions on import of certain products from the country. India's goods trade deficit with China widened to $57.83 billion during April-October from $51.12 billion a year …

India’s current account deficit to remain manageable in FY25, Rupee to remain in pressure: Bank of Baroda
1 month, 1 week ago

India’s current account deficit to remain manageable in FY25, Rupee to remain in pressure: Bank of Baroda

Live Mint  

New Delhi, November 15 : India's current account deficit will remain within a manageable range for both FY25 and FY26, largely due to muted oil prices that are expected to support the country's external financial position, projected a recent report by Bank of Baroda. Despite global market volatility, the report stated that steady oil prices at current levels are a …

Merchandise exports surge amid focus on key markets, countries
Trending News
1 month, 1 week ago

Merchandise exports surge amid focus on key markets, countries

Hindustan Times  

India’s merchandise exports registered 17.25% growth to $39.20 billion in October over the same month last year, with non-petroleum exports aggregating a record $211.34 billion in the first seven months of current financial year despite global headwinds, commerce secretary Sunil Barthwal said, crediting a concerted policy push and Christmas demand for the growth. India’s services exports in October 2024 is …

Merchandise exports in Oct up 17 pc
1 month, 1 week ago

Merchandise exports in Oct up 17 pc

Deccan Chronicle  

Chennai: Buoyed by festive demand in the key markets, merchandise exports in October rose 17.26 per cent year-on-year to $39.2 billion, while it grew 13.3 per cent sequentially. While imports rose 3.88 per cent year-on-year, the sequential growth of 20 per cent saw the trade deficit widening to $27.14 billion. Imports grew 3.88 per cent year-on-year to $66.34 billion against …

India imports more from China, exports less during Apr-Oct 2024: Govt data
Trending News
1 month, 1 week ago

India imports more from China, exports less during Apr-Oct 2024: Govt data

Firstpost  

During the period, the top 10 import sources of India were China, Russia, the UAE, the US, Iraq, Saudi Arabia, Indonesia, Korea, Switzerland and Singapore, the data showed China was India’s top import source with $65.89 billion, a 9.8 per cent year-on-year increase, worth of inbound shipments during the April-October period of this fiscal, according to the commerce ministry data. …

India’s goods trade deficit widens to $27 billion in October
Trending News
1 month, 1 week ago

India’s goods trade deficit widens to $27 billion in October

Live Mint  

New Delhi: India’s merchandise trade deficit widened to a two-month high in October, driven by a rise in imports, data released by the commerce ministry on Thursday showed. The goods trade deficit—the difference between exports and imports—stood at $27.14 billion in October, up from $20.78 billion in September. The overall trade deficit, including both services and merchandise, fell to $10.12 …

Merchandise exports set for modest rebound, to hit $107.5 billion in Q3: India Exim Bank
1 month, 1 week ago

Merchandise exports set for modest rebound, to hit $107.5 billion in Q3: India Exim Bank

Live Mint  

India's merchandise exports are likely to rise 1.85% year-on-year to $107.5 billion in the third quarter of FY25, according to India Exim Bank. Exim Bank has projected non-oil exports at $91.7 billion, marking a year-on-year growth of 7.39%. Read this | RITES sets sights on Africa for export of refurbished and underutilized railway diesel locos This anticipated growth signals a …

Trump's potential return sparks concerns over Indo-US trade ties, tariffs
Trending News
1 month, 2 weeks ago

Trump's potential return sparks concerns over Indo-US trade ties, tariffs

New Indian Express  

Donald Trump’s return as the 47th president of the US will likely put Indo-US trade ties under sharp focus. Trump has promised a fresh wave of tariffs under his ‘America first’ stance, which may adversely affect countries like India and its key sectors such IT, pharmaceuticals, textiles, chemicals and automotive parts. He even proposed import duty increases of 10-20 percent …

Trump's America First Agenda May Tighten H-1B Visa Rules: Experts
1 month, 2 weeks ago

Trump's America First Agenda May Tighten H-1B Visa Rules: Experts

Deccan Chronicle  

New Delhi: With Donald Trump all set to become US president, Indian exporters may face high customs duties for goods like automobiles, textiles and pharmaceuticals if the new US administration decides to pursue the 'America First' agenda, opined trade experts. Global Trade Research Initiative Founder Ajay Srivastava said that Trump may extend tariffs beyond China to include India and other …

America First, round two: What Trump's trade agenda means for India and the world
1 month, 2 weeks ago

America First, round two: What Trump's trade agenda means for India and the world

India Today  

With Donald Trump’s return to the White House, global trade dynamics face a seismic shift. India’s strategic balance As Trump brings his protectionist trade policies back, India faces pressure to lower trade barriers or risk tariffs on key exports. Why India matters to the US India holds unique significance for the US — first, as a strategic partner in countering …

US elections 2024 outcome could reshape India trade ties
1 month, 2 weeks ago

US elections 2024 outcome could reshape India trade ties

Live Mint  

NEW DELHI : With Donald Trump, the Republican nominee and former US president, leading the US presidential race, India's trade ties with the country—one of the few with which India has a merchandise trade surplus—are likely set for a paradigm shift. While Donald Trump’s America First agenda may lead to higher tariffs on Indian goods, especially in key sectors like …

India's Trade with Canada Slows Down Despite Diplomatic Stalemate
1 month, 3 weeks ago

India's Trade with Canada Slows Down Despite Diplomatic Stalemate

Live Mint  

Despite a diplomatic standoff, India's trade with Canada remains largely unaffected, with both countries maintaining their commitment to free trade principles. Trade data shows a steady increase in India's exports to Canada, while imports remain stable, indicating resilience in bilateral trade despite the geopolitical tensions.

The IMF's WEO and the Rise of China: A Cautionary Tale for India
1 month, 4 weeks ago

The IMF's WEO and the Rise of China: A Cautionary Tale for India

Hindustan Times  

The IMF's World Economic Outlook report sheds light on the competitive edge China holds in the electric vehicle (EV) industry. The report highlights the sharp rise in labor productivity in China, which has enabled them to produce EVs at lower costs compared to their European counterparts. This competitiveness could lead to a global disruption in the EV market, which is …

Indian Apparel Exports Soar 17.3% in September, Boosting Global Supply Chain
2 months, 1 week ago

Indian Apparel Exports Soar 17.3% in September, Boosting Global Supply Chain

The Hindu  

Indian apparel exports saw a significant surge in September, with a 17.3% increase compared to the same period last year. This growth is expected to continue in the coming months, with 15%-20% higher exports projected for 2024-2025. This surge is attributed to the increasing popularity of Indian products and the growing focus on sourcing from India by international buyers.

India targets $1 trillion exports by 2030: Coimbatore DGFT
2 months, 3 weeks ago

India targets $1 trillion exports by 2030: Coimbatore DGFT

New Indian Express  

TIRUPPUR: India has an ambitious target of exporting goods worth $1 trillion USD by 2030, said Anand Mohan Mishra, Joint Director General of Foreign Trade of Coimbatore, during a seminar ‘Export Finance and Trade Facilitation for the Apparel Industry’ in Tiruppur on Saturday. Speaking among the exporters in Tiruppur, Mishra said, “ Each and every part of the export community …

India's Defence Production Hits ₹1.27 Lakh Cr
2 months, 4 weeks ago

India's Defence Production Hits ₹1.27 Lakh Cr

Deccan Chronicle  

New Delhi:India's defence production reached a record high of ₹1.27 lakh crore in 2023-24, with exports of military hardware and weapons to over 90 countries, defence minister Rajnath Singh announced on Wednesday. The 'Make in India' programme, introduced under Prime Minister Narendra Modi’s leadership, has driven significant reforms across sectors, particularly in defence, according to Singh. He highlighted the country's …

India’s petroleum exports plunge in first five months of FY25 on lower demand, supply disruption
3 months ago

India’s petroleum exports plunge in first five months of FY25 on lower demand, supply disruption

Live Mint  

New Delhi: India's petroleum exports saw a steep decline during the first five months of fiscal year 2025 due to lower demand from key markets and disruptions along the supply route, especially in the Red Sea region. "The drop in India's petroleum exports in the last three months was mostly due to the Red Sea issue, which led to higher …

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 …

Apparel exports grew 12% in August to more than $1.2 bn
3 months ago

Apparel exports grew 12% in August to more than $1.2 bn

The Hindu  

Apparel exports registered 11.9% growth in August to $1,268.2 million compared with $1,133.5 million last August. In rupee terms, exports were 13.4% higher last month compared with last August and 8.7% more in April-August FY25 compared with the corresponding period in FY24. Mithileshwar Thakur, Secretary General, Apparel Export Promotion Council, said in a press statement that exports to Japan, Korea, …

August’s record gold influx lifts import bill to all-time high
3 months, 1 week ago

August’s record gold influx lifts import bill to all-time high

The Hindu  

India’s goods exports shrank 9.32% to $34.71 billion in August, while the import bill expanded 3.3% to an all-time high of $64.36 billion, fuelled by a doubling in gold imports to a record $10.1 billion. On the surge in gold imports, the top trade official pointed to plausible factors such as the recent reduction in import duty from 15% to …

Amazon eyes $5 billion in sales from Indian exporters this year in bid to move away from China sourcing
3 months, 2 weeks ago

Amazon eyes $5 billion in sales from Indian exporters this year in bid to move away from China sourcing

Live Mint  

Amazon Inc intends to help Indian exporters sell $5 billion worth of small-ticket items through its platform this year in the United States and Britain, compared to almost $3 billion in 2023, Reuters reported on Thursday, quoting a company official. Under Amazon's Global Selling programme, launched in 2015, nearly 1.5 lakh small Indian exporters are expected to sell their products …

India has trade surplus with 151 nations; deficit with 75 during Jan-June 2024: GTRI
3 months, 3 weeks ago

India has trade surplus with 151 nations; deficit with 75 during Jan-June 2024: GTRI

The Hindu  

India has recorded trade surplus with as many as 151 countries such as the U.S. and Netherlands, while the country has a trade deficit with 75 nations including China and Russia during the first half of this year, according to think tank GTRI. "Between January and June 2024, India had a trade surplus with 151 countries, representing 55.8 per cent …

India's Exports to Bangladesh, Russia Decline Sharply
4 months ago

India's Exports to Bangladesh, Russia Decline Sharply

Deccan Chronicle  

Chennai: Conflict-ridden markets like Bangladesh and Russia reported a slumping engineering goods offtake in July, despite the industry clocking a positive growth in shipments. Engineering exports to Bangladesh fell 11.8 per cent year-on-year to $153.78 million in July 2024, against $174.35 million in July 2023. The value of engineering exports to Russia declined 26.8 per cent in July this year …

India Witnesses Surge In Defence Exports With Supply To Over 90 Countries: Report
4 months ago

India Witnesses Surge In Defence Exports With Supply To Over 90 Countries: Report

News 18  

India is now selling weapons made in the country to other nations, reaching record levels in defence exports. In 2023-2024, defence exports reached a record Rs 21,083 crore, an increase of 32.5 percent from Rs 15,920 crore in the previous year. The Narendra Modi government set an ambitious target in 2020 to achieve Rs 35,000 crore in defence exports within …

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