India’s trade to improve amid easing global challenges: Economic Survey
5 months, 3 weeks ago

India’s trade to improve amid easing global challenges: Economic Survey

Live Mint  

Amid geopolitical headwinds and sticky inflation, India’s exports remained strong in the financial year 2023-24, the Economic Survey asserted, adding that trading in goods is expected to improve this year and the next. Though merchandise exports moderated owing to lower demand from major trading partners, India performed well in the export of services, lowering the country’s overall trade deficit from $121.6 billion in 2022-23 to $78.1 billion in 2023-24, as per the Economic Survey presented by Union finance minister Nirmala Sitharaman on Monday. Factors such as lower prices of imported commodities, including crude oil, helped narrow India’s trade deficit in 2023-24, while moderation in merchandise imports and rising services exports improved India’s current account deficit, the survey said. A global rebound As per the commerce ministry’s latest trade data, India’s merchandise trade deficit, which had widened to a seven-month high in May, narrowed slightly in June owing to fewer imports.

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History of this topic

India, Asean to gain as looming US tariffs shake up global trade: BCG
1 day, 17 hours ago

India, Asean to gain as looming US tariffs shake up global trade: BCG

Live Mint  

New Delhi: India and Asean bloc stand to gain as looming tariffs under the second Donald Trump administration in the US and geopolitical tension reshape global trade flows over the next decade, according to a Boston Consulting Group report. India’s economic growth, combined with favourable policies aimed at boosting its manufacturing capabilities, positions it as a key player in the …

The week in charts: GDP estimate, Nadella’s plan, ₹100 crore homes
4 days, 6 hours ago

The week in charts: GDP estimate, Nadella’s plan, ₹100 crore homes

Live Mint  

The first advance estimates released on Tuesday forecast India's growth at 6.4%, the slowest in four years. Services dominance India’s services exports surpassed goods exports, reaching $35.7 billion—about $3 billion more than goods--in November 2024, preliminary data showed. India’s share in global services exports has steadily grown, reaching 4.2% by 2023, while its share in goods exports has remained flat …

Ample opportunities seen for foreign trade in 2025
4 days, 7 hours ago

Ample opportunities seen for foreign trade in 2025

China Daily  

China's foreign trade, particularly exports of mechanical and electrical products, along with its resilient supply chains, will be pivotal in curbing global inflation and driving the green transformation of many countries in 2025, market analysts and exporters said on Friday. Although external risks and challenges, including increasing trade barriers and geopolitical impacts, are growing, they said there are still ample …

India’s economy projected to grow 6.6% in 2025, supported by strong private consumption, investment: UN
5 days ago

India’s economy projected to grow 6.6% in 2025, supported by strong private consumption, investment: UN

The Hindu  

The Indian economy is projected to expand by 6.6% in 2025, primarily supported by robust private consumption and investment, according to a United Nations report that said economic growth in South Asia is expected to remain robust this year mainly driven by the "strong performance" in India. The UN World Economic Situation and Prospects 2025, released in United Nations on …

Gold googly bamboozles import data
6 days, 13 hours ago

Gold googly bamboozles import data

The Hindu  

In what may constitute the steepest revision in India’s trade data in recent times, the Centre has revised India’s import bill for November 2024 by almost six billion dollars to $63.86 billion from the record tally of $70 billion reported as quick estimates by the Commerce Ministry last month, led by a sharp $5 billion downward revision in gold imports. …

$5 billion shock! India makes largest-ever revision to gold import estimates for November
Trending News
6 days, 22 hours ago

$5 billion shock! India makes largest-ever revision to gold import estimates for November

Live Mint  

India has slashed its November gold import estimates by an unprecedented $5 billion, the largest revision for any commodity in history, after errors in preliminary calculations inflated the figure to a record, government data showed on Wednesday. New Delhi reported last month that its gold imports urged to a record high of $14.8 billion in November, more than doubling from …

How India’s services sector made history as goods exports floundered
1 week, 3 days ago

How India’s services sector made history as goods exports floundered

Live Mint  

Preliminary data indicates that India’s services exports exceeded its goods exports for November 2024. At the global level, while India’s goods exports have been one of missed opportunities, services exports have an undertone of opportunity taken, driven by IT and software services. India’s share in global services exports has consistently exceeded its share in global goods exports since at least …

Prospects for Indian Economy Improving Says RBI Gov
2 weeks, 1 day ago

Prospects for Indian Economy Improving Says RBI Gov

Deccan Chronicle  

Mumbai: Amidst an uncertain global macroeconomic and financial environment, the Indian economy is exhibiting resilience and stability with the Gross Domestic Product projected to grow at 6.6 per cent in 2024-25. The growth would be aided by the revival in rural consumption, pickup in government consumption and investment and strong services exports said the Reserve Bank of India’s Financial Stability …

India's current account deficit expected at 1.1% of GDP in FY25, says ICICI bank
2 weeks, 2 days ago

India's current account deficit expected at 1.1% of GDP in FY25, says ICICI bank

Hindustan Times  

India's Current Account Deficit is expected to remain at 1.1 per cent of the Gross Domestic Product in the financial year 2024-25, according to a report by ICICI Bank. In the fiscal year 2024–2025, India's Current Account Deficit is anticipated to stay at 1.1% of GDP, citing to ICICI Bank analysis The report highlighted significant changes in the country's external …

India-Australia FTA enabled over 14% export growth in 2023-24: Piyush Goyal
Trending News
2 weeks, 2 days ago

India-Australia FTA enabled over 14% export growth in 2023-24: Piyush Goyal

Hindustan Times  

New Delhi: The India- Australia free trade agreement has been a “landmark” pact that enabled growth in exports by over 14% in 2023-24 and increased market access for Indian exporters, commerce minister Piyush Goyal said on the second anniversary of the India-Australia Economic Cooperation and Trade Agreement. “This landmark agreement has brought with it increased market access for Indian exporters, …

India's exports to Australia rise 64.4 pc year-on-year
2 weeks, 2 days ago

India's exports to Australia rise 64.4 pc year-on-year

Deccan Chronicle  

New Delhi: India’s exports to its trade agreement partner Australia rose 64.4 per cent year-on-year to $643.7 million in November on account of healthy growth in sectors such as textiles, chemicals and agricultural products. However, the country's merchandise exports recorded a decline of 5.21 per cent year-on-year to $5.56 billion during April-November 2024-25, according to the commerce ministry data. On …

India’s Services Exports Hit Historic High In Oct, Find Out Why
2 weeks, 2 days ago

India’s Services Exports Hit Historic High In Oct, Find Out Why

ABP News  

India’s services exports reached a historic high of $34.31 billion in October, a commerce ministry official revealed. The official further noted that India has made a name for itself as a global leader in digitally delivered services exports, backed by its strong IT sector and skilled workforce, reported PTI. In the last two decades, India grew from $30 billion in …

Indian economy to grow at 6.5-6.8 pc in FY25 on higher domestic consumption: Deloitte
2 weeks, 3 days ago

Indian economy to grow at 6.5-6.8 pc in FY25 on higher domestic consumption: Deloitte

Live Mint  

New Delhi, Dec 29 Indian economy is likely to grow at 6.5-6.8 per cent this fiscal and slightly higher between 6.7-7.3 per cent in FY2026, boosted by domestic consumption, Deloitte said on Sunday. Deloitte India Economist Rumki Majumdar said the growth in the first half of the fiscal year 2025 turned out to be slower than estimated as election uncertainties …

India’s CAD likely to exceed 2 pc of GDP in Q3 FY25 amid gold import surge: Report
2 weeks, 4 days ago

India’s CAD likely to exceed 2 pc of GDP in Q3 FY25 amid gold import surge: Report

Live Mint  

New Delhi, December 28 : India's Current Account Deficit is expected to rise above 2 per cent of GDP in the third quarter of FY25, driven by a surge in gold imports, according to a report by Bank of Baroda. However, resilient services exports and remittance inflows are likely to cushion the overall impact, keeping the CAD for FY25 within …

Services exports save the day for India’s current account deficit in September quarter
2 weeks, 4 days ago

Services exports save the day for India’s current account deficit in September quarter

Live Mint  

Mumbai: A rise in services exports helped narrow India's current account deficit in the September quarter, although this marked the second consecutive quarterly deficit after hitting a surplus in the final three months of FY24. In the three months prior to that—the fourth quarter of 2023-24 —India had registered its first current account surplus in about four years due to …

India’s trade braces for an action-packed 2025
3 weeks, 1 day 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
3 weeks, 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?
3 weeks, 2 days 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
3 weeks, 2 days 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
3 weeks, 4 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 …

Mint Primer: How India’s trade gap soared, and how it might hurt
3 weeks, 5 days ago

Mint Primer: How India’s trade gap soared, and how it might hurt

Live Mint  

India’s gold imports jumped fourfold to nearly $15 billion in November, powering a 27% surge in goods imports. Prominent drivers of the trade deficit were higher gold imports and falling realizations from petroleum exports. Gold imports touched $14.86 billion, a fourfold increase from $3.44 billion in November 2023, driven by higher volumes, likely fuelled by festive and wedding season demand. …

What India-US trade could look like after Trump takes office
3 weeks, 5 days 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 …

Indian manufacturing must adapt to constant flux in a dynamic world
3 weeks, 5 days ago

Indian manufacturing must adapt to constant flux in a dynamic world

Live Mint  

The global economic landscape is becoming increasingly interlinked and dynamic. Despite multiple shifts, 2023 saw global merchandise exports worth over $24 trillion, an increase of 6% over 2019, demonstrating resilience in the face of disruptions. Focused reforms since then, including the production-linked incentive schemes and ‘Make in India’ initiative, combined with infrastructure development programmes, trade agreements and stronger participation in …

Services led exports are a mixed blessing for the Indian economy
3 weeks, 6 days 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
3 weeks, 6 days 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 government over trade deficit touching all-time high
4 weeks ago

Rahul slams government over trade deficit touching all-time high

The Hindu  

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. "Result: Weakened manufacturing sector, depreciating currency, record high trade deficits, high interest rates, falling consumption and soaring inflation," he …

Rahul slams govt over trade deficit touching all-time high
4 weeks 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
4 weeks 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
4 weeks 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 …

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

Services exports surpass merchandise exports in November
4 weeks, 1 day ago

Services exports surpass merchandise exports in November

Deccan Chronicle  

Chennai: Services export value was higher than merchandise exports in November, for the first time on a monthly basis. Merchandise exports were down 4.83 per cent to $32.11 billion in November while services exports grew 27 per cent to $35.67 billion. Though services exports grew 21 per cent in October 2024 at $34.02 billion, merchandise exports were higher at $39.2 …

India’s Trade Deficit Widens to Record as Gold Demand Soars
Top News
4 weeks, 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
4 weeks, 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 …

Trade War Widened US Trade Deficit, Increased Chinese Global Exports
4 weeks, 2 days ago

Trade War Widened US Trade Deficit, Increased Chinese Global Exports

Deccan Chronicle  

The US-China trade war initiated by President Donald Trump under his previous government failed to achieve its goals as the trade deficit of the US further widened while China’s global exports increased between 2017 and 2023. The US-China trade war, which began in March 2018 by imposing 25 per cent tariffs on steel and 10 per cent on aluminium, escalated …

Govt confident of economic rebound despite global challenges, says Piyush Goyal
1 month ago

Govt confident of economic rebound despite global challenges, says Piyush Goyal

Live Mint  

New Delhi: Despite global uncertainties owing to supply-chain disturbances following the Red Sea crisis, union commerce and industry minister Piyush Goyal has said he was confident that India's economic growth would be back on track by the end of the fiscal year. Speaking at Times Network’s India Economic Conclave on Thursday, Goyal said, "There was an election in the first …

The great unknown: how a Trump presidency could affect the world, in five charts
1 month ago

The great unknown: how a Trump presidency could affect the world, in five charts

Live Mint  

US President Harry S. Truman once famously asked for a “one-handed economist" because he was tired of economists who, instead of giving decisive answers, would say, “On the one hand, this, and on the other hand, that." A plan to impose across-the-board tariffs on Mexico, Canada and China reinforced the view that tariffs would increase prices and keep US interest …

The UK is open for business and India features high on its speed-dial
1 month ago

The UK is open for business and India features high on its speed-dial

Live Mint  

Prime Minister Keir Starmer and Prime Minister Narendra Modi sat down together at the G20 Summit in Brazil for what both have described as an extremely productive meeting. And initiatives like the UK-India Infrastructure Financing Bridge between Niti Aayog and the City of London are bringing the UK’s financing expertise to bear in supporting India’s growth. A new National Wealth …

Merchandise trade deficit and services trade surplus to touch record high in Q3
1 month, 1 week ago

Merchandise trade deficit and services trade surplus to touch record high in Q3

Deccan Chronicle  

Chennai: In the December quarter, Indian trade will see both merchandise trade deficit and services trade surplus touching record high levels. The goods trade deficit is likely to touch a record high of $80 billion while services trade surplus too could register a fresh high of around $49 billion in Q3 FY25. The global trade in commercial services grew at …

India faces high exposure to US trade policy shift
1 month, 1 week 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
1 month, 1 week 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
1 month, 1 week 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
1 month, 2 weeks 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 confident of better trade ties with US under Donald Trump: Piysuh Goyal
1 month, 2 weeks ago

India confident of better trade ties with US under Donald Trump: Piysuh Goyal

Live Mint  

Union commerce and industry minister Piyush Goyal on Thursday expressed confidence in the resilience of India-US relations as Donald Trump gears up for another term in the White House. India's exports Meanwhile, Goyal said India's total exports, including merchandise and services, are expected to cross $800 billion in 2024-25 despite challenges related to the pandemic and geopolitical crises like the …

India-China trade: An alarming $18 billion discrepancy
1 month, 2 weeks 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, …

Trump’s policies may open new doors for India’s defence sector: Report
Trending News
1 month, 3 weeks ago

Trump’s policies may open new doors for India’s defence sector: Report

Live Mint  

New Delhi, November 25 : The "America First" trade policy promoted by upcoming U.S. President Donald Trump has far-reaching implications for global trade and geopolitics. It said "Indian businesses in sectors such as pharmaceuticals and defense might also find new opportunities, especially if U.S.- India collaboration strengthens. The report said "increased tariffs might prompt retaliatory measures from trade partners, potentially …

India: Services Exports to Surpass Merchandise Shipments by 2030
1 month, 3 weeks 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 …

India’s services exports to surpass goods exports by FY30, says GTRI report
1 month, 3 weeks ago

India’s services exports to surpass goods exports by FY30, says GTRI report

Live Mint  

New Delhi: India’s services exports will outpace merchandise exports by 2030, marking a major shift in the country’s trade dynamics, economic think tank Global Trade Research Initiative said in a report on Wednesday. The report, titled 'India’s Services Export Revolution: Set to Outpace Merchandise by 2030' said services exports are projected to be $618.21 billion, slightly higher than merchandise exports …

India trade deficit with Asian peers rising faster
1 month, 3 weeks ago

India trade deficit with Asian peers rising faster

Deccan Chronicle  

Chennai: India’s trade deficit with some of the trading blocs and economies in Asia is rising faster than its global deficit growth. From 2007-09 to 2020-22, the trade deficit grew by 302.9 per cent with ASEAN, 164 per cent with South Korea, and 138 per cent with Japan, compared to 81.2 per cent increase in the global deficit. Even in …

Pharma, electronics and engineering goods among India’s top exports during Apr-Oct
1 month, 3 weeks 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 …

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