COVID Pandemic Has Disrupted Global Value Chains, India Must Reorient Its Trade Policy
3 years, 7 months ago

COVID Pandemic Has Disrupted Global Value Chains, India Must Reorient Its Trade Policy

News 18  

The COVID-19 pandemic has exposed existing vulnerabilities associated with international trade, especially for developing countries that are heavily linked into existing global value chains. Diversification has also occurred in terms of destination markets, with the total share of India’s leading export markets declining from 50 per cent in 2010-11 to 45.5 per cent in 2018-19. However, resource-based exports and low-tech exports continue to dominate India’s export basket; in 2019, 32 per cent of India’s exports were resource-based, followed by 22 per cent of low-tech exports. Similarly, an analysis of several Indian manufacturing firms across sectors over the 2001-2015 period shows that increasing the share of digital assets in a firm’s infrastructure significantly and positively impacted firm-level export intensity. Currently, India lags behind many developing countries in the digitalisation of manufacturing exports; the value added by digital services in India’s exports is largely concentrated in the computer, programming and telecommunication services sectors.

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History of this topic

DC Edit | Time to focus on service sector
6 days, 8 hours 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 exports rise, boosting global presence
2 weeks, 6 days 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 …

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 …

Manufacturing versus services: A false binary
10 months ago

Manufacturing versus services: A false binary

Hindustan Times  

The debate around India’s policy focus — whether it should be on manufacturing or services — is once again heating up. India’s share of global services exports is currently ~4.4%, and the country is already the largest provider of telecom and information services. The other pillar of the country’s export strategy — services exports — is where India already has …

DC Edit | Inflation, exports still a concern
1 year, 3 months ago

DC Edit | Inflation, exports still a concern

Deccan Chronicle  

India’s economy performed well by growing at the rate of 7.8 per cent in the first quarter of financial year 2023-24, thanks to a significant increase in private consumption, government capital expenditure, financials and services. Though the current growth rate pales in comparison with 13.1 per cent expansion in the economy witnessed in the first quarter of FY 2022-23, it …

Technology will boost the role of MSMEs in India’s export success
1 year, 4 months ago

Technology will boost the role of MSMEs in India’s export success

Live Mint  

During Prime Minister Narendra Modi’s recent visit to the US, technology was centre-stage at several discussions. For example, in alignment with India’s G20 objective of linking micro, small and medium enterprises to global value chains through e-commerce platforms, Amazon announced a goal of $20 billion in cumulative e-commerce exports from India by 2025 and $125 billion by 2030. If India …

India to resume COVID vaccine exports to COVAX, neighbours
3 years, 3 months ago

India to resume COVID vaccine exports to COVAX, neighbours

Al Jazeera  

The health minister says government will prioritise the global vaccine-sharing platform and India’s neighbouring countries. India will resume exports of COVID-19 vaccines from the next quarter, prioritising the global vaccine-sharing platform COVAX and neighbouring countries first as supplies rise, according to the health minister. The country’s monthly vaccine output has since more than doubled and is set to quadruple to …

Explained: Why India's economy needs a manufacturing push
3 years, 3 months ago

Explained: Why India's economy needs a manufacturing push

India Today  

India’s economy needs a strong manufacturing push as the nation’s dominant services sector struggles to return to normalcy after two deadly waves of the Covid-19 pandemic. Read | Covid-19: India’s services activity in May contracts for 1st time in 8 months SLOW PROGRESS IN MANUFACTURING Even before the pandemic brought the economy to a standstill in 2020, growth in India’s …

Tap opportunities in post-COVID world to meet $400 billion export target, says PM to heads of Indian missions abroad
3 years, 4 months ago

Tap opportunities in post-COVID world to meet $400 billion export target, says PM to heads of Indian missions abroad

Firstpost  

Addressing Indian missions and Export Promotion Councils, Modi said that factors, including multifold increase in manufacturing, reduction in logistics cost and international market for domestic goods can help boost the country’s outbound shipments New Delhi: Prime Minister Narendra Modi on Friday called upon the industry and exporters to take advantage of opportunities created in the post-Covid scenario, explore new destinations …

India's Covid-19 cases mount but uncertainty over US export ban on vaccine raw materials continues
3 years, 8 months ago

India's Covid-19 cases mount but uncertainty over US export ban on vaccine raw materials continues

India Today  

Serum Institute of India's Chief Executive Officer, Adar Poonawalla recently sought US President Joe Biden's intervention in lifting a ban on raw materials that India imports from the US. SoS FROM POONAWALLA On April 16, Adar Poonawalla, in what appeared to be a desperate appeal, tweeted: "Respected @POTUS, if we are to truly unite in beating this virus, on behalf …

India’s COVID-19 vaccine export may be curbed
3 years, 8 months ago

India’s COVID-19 vaccine export may be curbed

The Hindu  

Amidst a fresh surge in COVID-19 cases in India, and the rollout of vaccines for those above 45 years from April 1, the government has hinted it may need to “calibrate” its supply schedules to other countries, although it has not proposed a full ban on exports at this time. According to Global vaccine alliance GAVI, which runs the COVAX …

India Has Shown Great Progress in Reducing Number of Covid-19 Cases, Says WHO Chief
3 years, 10 months ago

India Has Shown Great Progress in Reducing Number of Covid-19 Cases, Says WHO Chief

News 18  

India has shown great progress in significantly driving down the number of Covid-19 cases, said WHO Director-General Tedros Adhanom Ghebreyesus in an online news briefing from Geneva on Friday, February 5. “This shows us that if we can do these simple public health solutions, we can beat the virus…With vaccines being added, we would even expect more and better outcomes,” …

‘Supply chain shift from China may benefit India’
3 years, 11 months ago

‘Supply chain shift from China may benefit India’

The Hindu  

India could benefit from the likely shift in global supply chains from China to other economies in the aftermath of the COVID-19 pandemic, according to a survey. Nearly 70% of the survey participants have said India could benefit from this move and they expect a fair share of manufacturing to shift from China to India in the near future,” said …

Opinion | Covid and its impact on economy and MSMEs
4 years, 1 month ago

Opinion | Covid and its impact on economy and MSMEs

Live Mint  

The covid-19 pandemic is the most significant economic event in our lifetime. What this growth looks like As many businesses are seeing today, digital adoption can be a short-term solution to aid business continuity, but many are yet to see this as a long-term solution to build business resilience. Through digital adoption and technology access, MSMEs can modernize not only …

India’s exports grew 6% in Sep after 6-month decline
4 years, 2 months ago

India’s exports grew 6% in Sep after 6-month decline

Live Mint  

India’s outbound shipments rose for the first time in seven months with merchandise exports registering a 6% growth in September—higher than the estimated 5.3% in provisional data released earlier. India’s exports rose to $27.6 billion, while imports contracted 19.6% to $30.3 billion, resulting in a trade deficit of $2.7 billion, according to data released by the commerce ministry. In the …

India Exported 23 Lakh PPE to Five Countries Including US, UK & UAE in July: Union Health ministry
4 years, 4 months ago

India Exported 23 Lakh PPE to Five Countries Including US, UK & UAE in July: Union Health ministry

News 18  

India exported 23 lakh personal protection equipment to five countries including the US, the UK and the UAE in July, after the government relaxed export norms and this has substantially helped the country to position itself in the global market of these kits, the Union Health Ministry said. According to the ministry, the 'Make in India' spirit "embedded in the …

CII calls for early FTP to raise India’s global export share to 5%
4 years, 4 months ago

CII calls for early FTP to raise India’s global export share to 5%

Live Mint  

Industry body CII on Tuesday asked the government to come out with new foreign trade policy at the earliest in view of the COVID-19 outbreak to increase India's shares in the global merechandise exports to 5% by 2025. The CII report, titled 'Re-orienting India's Export Endeavour in the COVID-19 World', states India must aim to achieve 5% share in world …

India Remains a Key Contributor to Our Global Supply Chain Despite Economic Turbulence: Boeing
4 years, 4 months ago

India Remains a Key Contributor to Our Global Supply Chain Despite Economic Turbulence: Boeing

News 18  

Despite Covid-19 induced economic turbulence, aerospace major Boeing India plans to maintain its systems and components sourcing activity in India. Our sourcing from India stands at close to $1 billion a year from more than 200 suppliers who are manufacturing critical systems and components for some of Boeing's most advanced products," said Boeing India president Salil Gupte. "Our growing installed …

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