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 has to contribute to the goal if we want to achieve this target. We need to understand the growth of e-commerce internationally.” Lauding the country’s efforts taken to enter into the Free Trade Agreement with international countries, Mishra said, “India had FTAs with Australia and UAE. Dinesh Purushottamrao Pangarkar, Principal Commissioner of GST, Vijay Krishna Velavan, Additional Commissioner of Thoothukudi, Tiruppur Exporters’ Association President KM Subramanian, and Tiruppur exporters also participated.

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History of this topic

DC Edit | Time to focus on service sector
6 days 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 imports rises to 27%, touches to record high of almost $70 billion
1 week 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’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 …

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 …

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 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 …

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.

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 …

Economic Survey 2023-24: India’s success in exports and reducing Chinese imports
5 months ago

Economic Survey 2023-24: India’s success in exports and reducing Chinese imports

The Hindu  

The government's steps such as mandatory quality norms and increase in customs duties have significantly helped the domestic toy players to boost exports and reduce dependence on Chinese imports, Economic Survey said on July 22. "India's import bill for toys from China dropped from USD 214 million in FY'13 to USD 41.6 million in FY'24, leading to a decline in …

Niti Aayog: India’s Electronics Output Can Reach $500 Billion by FY30
5 months ago

Niti Aayog: India’s Electronics Output Can Reach $500 Billion by FY30

Deccan Chronicle  

Chennai: India can increase its electronics production five-fold to touch $500 billion by FY30, with $200 -$225 billion worth exports of both finished goods and components by becoming an integral part of the global value chain through focused policy interventions, finds Niti Aayog. However, the electronics sector has a very high participation in the global value chain with 75 per …

India's exports in Q1 show resilience despite global slowdown: CRISIL
5 months ago

India's exports in Q1 show resilience despite global slowdown: CRISIL

New Indian Express  

India's exports have shown resilience amidst global challenges, with merchandise exports rising by 5.8% to $109.96 billion in the first quarter of fiscal 2025, according to CRISIL. "On a cumulative basis, merchandise exports rose 5.8% to $109.96 billion for the first quarter of fiscal 2025, from $103.9 billion in the year-ago period. This growth in exports in the first quarter …

India's exports soar 2.56 per cent to USD 35.2 billion in June: Govt data
5 months, 1 week ago

India's exports soar 2.56 per cent to USD 35.2 billion in June: Govt data

India TV News  

The government of India on Monday released data on the exports by the nation in the month of June. According to the data, India's merchandise export in June increased by 2.56 per cent to $35.32 billion compared to $34.32 billion in June last year. In May, the country's merchandise exports increased by 9.1 per cent and reached USD 38.13 billion, …

DGFT, Revenue dept working on dedicated hubs to boost e-commerce exports
6 months ago

DGFT, Revenue dept working on dedicated hubs to boost e-commerce exports

The Hindu  

In a bid to boost India's e-commerce exports, the Directorate General of Foreign Trade is working with the Department of Revenue to establish designated e-commerce hubs across India to streamline the process for online export shipments. We are working with the Department of Revenue to have designated e-commerce hubs so that clearance of goods happens fast," Director General of Foreign …

Apparel manufacturers hold meeting in New Delhi, discuss measures to increase exports to $40 billion by 2030
7 months, 2 weeks ago

Apparel manufacturers hold meeting in New Delhi, discuss measures to increase exports to $40 billion by 2030

The Hindu  

The Apparel Export Promotion Council held a meeting in New Delhi recently with buying agencies and liaison officers of overseas brands, to discuss efforts to increase Indian garment exports to USD 40 billion by 2030. Free trade agreements signed by India with Mauritius and Australia are paying dividends, as readymade garment exports to these countries in April - February of …

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 …

Govt aims to grab 10% agri exports market
7 months, 4 weeks ago

Govt aims to grab 10% agri exports market

Hindustan Times  

The government is preparing a five-year action plan to grab 10% of the $405 billion exports market of 20 farm produce such as mangoes, banana, ghee, buffalo meat and alcoholic beverages, which could be unveiled by the central government after the general elections, officials aware of the development said. Centre is preparing a five-year action plan to grab 10% of …

Apple shows the way for electronics exports
8 months, 1 week ago

Apple shows the way for electronics exports

Hindustan Times  

At $10 billion in FY24, exports of India-assembled iPhones have doubled from the previous fiscal. While the iPhone instance is evidence of policies such as the PLI for smartphones working, India must do more to convince the world that it has the makings of a preferred China+1 destination for electronics exports. At present, the world may seem more inclined towards …

Goods exports hit 12-month high of $41.68 billion in March
8 months, 1 week ago

Goods exports hit 12-month high of $41.68 billion in March

The Hindu  

India’s goods exports hit a 12-month high of $41.68 billion in March, although it constituted a 0.67% decline from last year’s tally, while imports dropped 6% to $57.3 billion last month. Goods imports dropped by a sharper 5.41% to $677.24 billion in 2023-24, which helped moderate India’s trade deficit for the year to $240.2 billion, 9.33% lower than the preceding …

Commerce ministry shifts focus to push fresh fruits and vegetables to US and EU
8 months, 2 weeks ago

Commerce ministry shifts focus to push fresh fruits and vegetables to US and EU

Live Mint  

New Delhi: With an export ban in place on rice and wheat, the union commerce ministry has shifted its focus to exports of agricultural products including fresh fruit and vegetables to new destinations, including the US, European Union and African countries, two persons said. This move, being rolled out by the Agricultural and Processed Food Products Export Development Authority is …

India's defence exports at all-time high: Which are the countries buying from New Delhi?
8 months, 3 weeks ago

India's defence exports at all-time high: Which are the countries buying from New Delhi?

Firstpost  

Defence Minister Rajnath Singh announced that India’s arms exports have crossed the Rs 21,000-crore mark for the first time. According to the defence minister, the arms exports touched Rs 21,083 crore in the financial year 2023-24, a “spectacular growth” of 32.5 per cent over the previous fiscal. India’s growing defence exports India supplies arms to over 85 countries, including Italy, …

India’s monthly merchandise exports rise to $41.40 billion in February
9 months, 1 week ago

India’s monthly merchandise exports rise to $41.40 billion in February

Hindustan Times  

NEW DELHI: India reported a robust 12% annualised growth in merchandise exports at $41.4 billion in the month of February despite global headwinds, narrowing contraction in the first 11 months of 2023-24 by 3.6% to $395 billion, a senior official said. In 2022-23, India’s merchandise exports crossed $451 billion while overall exports achieved a record $770 billion. Releasing the monthly …

India’s merchandise exports up 3.12% in January
10 months, 1 week ago

India’s merchandise exports up 3.12% in January

Hindustan Times  

India’s merchandise exports reported a 3.12% increase to $36.92 billion in January despite global headwinds, showing positive growth for the second consecutive month, with overall exports -- both goods and services -- estimated to have risen 9.27% to $69.72 billion in the month, government data released on Thursday said. Releasing trade data for January, commerce secretary Sunil Barthwal said, “Despite …

Jan. goods trade deficit narrows sequentially to nine-month low of $17.5 billion
10 months, 1 week ago

Jan. goods trade deficit narrows sequentially to nine-month low of $17.5 billion

The Hindu  

India’s merchandise trade deficit, which had hit a record high of $29.9 billion in October, narrowed sequentially for the third straight month and touched a nine-month low of $17.5 billion in January, provisional estimates released by the Commerce Ministry on Thursday showed. Services exports, whose actual numbers will be released later, are estimated to have expanded 17.5% last month to …

Deceptive signals: The Hindu Editorial on India’s October 2023 goods exports numbers
1 year ago

Deceptive signals: The Hindu Editorial on India’s October 2023 goods exports numbers

The Hindu  

Last month, India’s goods exports recorded only their second uptick this financial year, with a 6.2% rise. Merchandise imports grew a sharper 12.3% over last October and nearly 21% over September’s tally to hit an all-time high of $65.03 billion. The Finance Ministry’s monthly economic review asserted that merchandise exports “surprised on the upside” with the highest growth in 11 …

Trade deficit eases as imports plunge
1 year, 2 months ago

Trade deficit eases as imports plunge

Live Mint  

India’s trade deficit narrowed in September as imports plunged and exports continued to slide amid slowing demand in the West and China. Goods exports slipped marginally by 2.59% to $34.47 billion compared to $35.39 billion in September 2022, while imports fell a steeper 15% to $53.84 billion against $63.37 billion a year earlier. “India’s merchandise trade deficit compressed considerably to …

In a boost to Make in India, Hyderabad-based mobile retail chain to invest Rs 300 crore
1 year, 4 months ago

In a boost to Make in India, Hyderabad-based mobile retail chain to invest Rs 300 crore

India TV News  

India is on its way to becoming a global leader in the mobile devices segment, with smartphone exports doubling to over USD 11 billion, according to the industry body India Cellular and Electronics Association. Looking to play its role in India's electronic segment and also tap the fastest-growing segment, Hyderabad-based multi-brand mobiles retail chain Big-C mobiles is aiming for a …

Downhill driving: The Hindu Editorial on India’s overall trend of exports
1 year, 5 months ago

Downhill driving: The Hindu Editorial on India’s overall trend of exports

The Hindu  

After hitting a record $775 billion in 2022-23, India’s exports are off to a rocky start this year. While this implies the goods trade deficit may not widen as it had last year, it does not augur well for domestic growth impulses that form India’s key armour against the gathering global slowdown. Frail global demand may not just impact trade …

As exports shrink amid global uncertainty, no clear target for 2023-24
1 year, 5 months ago

As exports shrink amid global uncertainty, no clear target for 2023-24

The Hindu  

With merchandise exports shrinking 15.1% in the first quarter of this year, after racking up a record $450 billion in 2022-23, the government is playing it safe on announcing a clear target for outbound shipments this year and is likely to opt for a range of scenario-based targets instead. While the Commerce Ministry has undertaken an internal exercise to set …

‘Pharma exports expected to touch $28 billion in FY24’
1 year, 6 months ago

‘Pharma exports expected to touch $28 billion in FY24’

The Hindu  

Indian pharma exports may touch $28 billion during the current fiscal against $25.39 billion in FY23, Udaya Bhaskar, Director General of the Pharmaceuticals Export Promotion Council of India, a body under the Department of Commerce said on Tuesday. When most commodities are not doing so well, India pharma made this and achieved this despite so many headwinds and global challenges,” …

Govt to set up task force to address environmental concerns in textiles
1 year, 8 months ago

Govt to set up task force to address environmental concerns in textiles

Live Mint  

The union government is set to launch a task force to address environmental concerns in the textile sector at a time when India is negotiating a free trade agreement with western countries with a strong interest in boosting textile exports. Commerce minister Piyush Goyal said that sustainable products are witnessing high demand and some exporters using sustainable means are getting …

India FY23 exports defy global turmoil to hit record high
1 year, 8 months ago

India FY23 exports defy global turmoil to hit record high

Live Mint  

In a year of uncertainties worldwide, India exported a record $447 billion worth of goods in FY23, up about 6% from the previous year, commerce ministry data showed. At the same time, goods imports rose over 16% to touch $714 billion, widening the goods trade deficit to highest ever mark of $267 billion against the previous year’s $191 billion. “Although …

Goods exports grew 6% , imports 16.5% this fiscal
1 year, 8 months ago

Goods exports grew 6% , imports 16.5% this fiscal

The Hindu  

India’s goods exports declined for the second successive month in March, falling a sharp 13.9% to $38.38 billion while imports dipped 7.9% to $58.11 billion. “Despite the global headwinds, we have surpassed our 2022-23 target of $750 billion dollars to hit $770.18 billion, which is $94 billion higher than last year’s record exports,” Commerce Secretary Sunil Barthwal said, using services …

India’s new trade policy aims at $2tn exports by 2030
1 year, 8 months ago

India’s new trade policy aims at $2tn exports by 2030

Hindustan Times  

India on Friday announced a Foreign Trade Policy targeting $2 trillion in exports by 2030, split equally between goods and services that does not have a so-called sunset clause, and which encourages trade settlements in rupees. Expressing confidence in Indian industry after launching the FTP 2023, Union commerce minister Piyush Goyal said any ambitious target could be achieved provided “we …

India aims for $2trn exports by 2030 with new Foreign Trade Policy 2023
1 year, 8 months ago

India aims for $2trn exports by 2030 with new Foreign Trade Policy 2023

Live Mint  

The government released the Foreign Trade Policy 2023 on Friday, which aimed to increase the country's exports to USD 2 trillion by 2030. During a media briefing on the recently launched FTP 2023, Director General of Foreign Trade Santosh Sarangi mentioned that unlike the previous practice of announcing 5-year FTP, the new policy does not have an end date and …

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 …

India should target $350 bn exports through e-commerce by 2030; needs separate policy: GTRI
1 year, 9 months ago

India should target $350 bn exports through e-commerce by 2030; needs separate policy: GTRI

The Hindu  

India should target $350 billion worth of goods export through e-commerce by 2030 and for that the government needs to address pain points of the sector by taking steps like formulating a separate policy, a report by economic think-tank GTRI said. The Global Trade Research Initiative said the current e-commerce export provisions in India are a patchwork over the rules …

Separate trade policy needed to grow e-com exports to $350 billion: GTRI
1 year, 9 months ago

Separate trade policy needed to grow e-com exports to $350 billion: GTRI

Deccan Chronicle  

Chennai: India has the potential to increase its e-commerce exports to $350 billion by 2030. This will require focus on developing the ecosystem for e-commerce exports and framing an independent e-commerce export policy, said Global Trade Research Initiative. Global e-commerce exports are poised to grow from $800 billion to $8 trillion by 2030, providing a significant opportunity for Indian businesses …

Indian Exports Decline 8.8 Per Cent To $33.88 Billion In February
1 year, 9 months ago

Indian Exports Decline 8.8 Per Cent To $33.88 Billion In February

ABP News  

India's exports declined in February for the third consecutive month by 8.8 per cent to $33.88 billion against $37.15 billion in the same month last year, according to the data released by the commerce ministry on Wednesday. Imports also declined by 8.21 per cent to $51.31 billion as against $55.9 billion recorded in the corresponding month last year. During April-February …

Exports fell 8.8% in February, but trade deficit also shrank over 7%
1 year, 9 months ago

Exports fell 8.8% in February, but trade deficit also shrank over 7%

The Hindu  

Tentative global demand pulled India’s goods exports down 8.8% in February to $33.9 billion, while imports fell 8.2% from a year ago to $51.31 billion, according to Commerce Ministry estimates released on Wednesday. The merchandise trade deficit during February 2023 fell 7% to $17.43 billion, slightly higher than January’s $16.56 billion deficit, which in turn was the lowest in at …

India To Witness Record High Merchandise Exports Of $447.3 Bn During FY2023
1 year, 9 months ago

India To Witness Record High Merchandise Exports Of $447.3 Bn During FY2023

News 18  

Export-Import Bank of India has said India’s total merchandise exports to consistently remain above $100 bn for the fourth consecutive quarter of FY2023, amounting to $110.9 bn, while non-oil exports are forecast to amount to $87.7 bn during the same period. India’s exports could be shadowed by deepening global energy crisis, tighter global monetary and financial conditions, continued slowdown in …

India’s overall exports log 14.57% growth in January 2023, climb to $65.15 billion
1 year, 10 months ago

India’s overall exports log 14.57% growth in January 2023, climb to $65.15 billion

Firstpost  

The country’s overall exports indicate exports of merchandise and services combined. The overall import has also witnessed a marginal increase of 0.94 per cent to $66.42 billion in January 2023 as compared to $65.80 billion that the country registered in January 2022 New Delhi: India’s exports logged a 14.57 per cent increase year-on year in January 2023 to $65.15 billion …

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 …

India's services exports to cross $300bn target for this fiscal: Piyush Goyal
1 year, 10 months ago

India's services exports to cross $300bn target for this fiscal: Piyush Goyal

The Hindu  

The country's services exports are doing “extremely well” and going by the current trend these outbound shipments would register about 20% growth in this fiscal and cross the $300 billion target despite global economic uncertainties, Commerce and Industry Minister Piyush Goyal has said. With all these stress, where every global leader is talking of “very” tough times, India's exports rose …

Trade winds: The Hindu Editorial on Indian exports data December 2022
1 year, 11 months ago

Trade winds: The Hindu Editorial on Indian exports data December 2022

The Hindu  

December 2022 marked the steepest fall in two years for India’s goods exports, with products worth $34.5 billion shipped out — 12.2% lower than a year ago. For now, December’s export numbers, even if lifted by the last batches of pre-holiday festive shipments reaching their destined shores, hold up well on this front vis-à-vis October and November’s initial trade estimates. …

Merchandise exports dive 12% in December
1 year, 11 months ago

Merchandise exports dive 12% in December

Live Mint  

India’s merchandise exports fell by 12% in December, marking the second decline in three months, as demand slowed down in major markets such as the US and the European Union. India’s merchandise exports dropped to $34.48 billion in December, while imports declined by 3.4% to $58.24 billion, resulting in a trade deficit of $23.76 billion, data released by the ministry …

Amid slowing demand, exports dip by 12.2%; imports contracts 3.5%
1 year, 11 months ago

Amid slowing demand, exports dip by 12.2%; imports contracts 3.5%

The Hindu  

India exported goods worth $34.48 billion in December 2022, constituting a 7.75% rise from November’s $32 billion figure but a steep 12.2% dip from a year ago, amid slowing global demand. Consequently, the country’s merchandise trade deficit inched up from just under $24 billion in November to $24.24 billion in December, remaining under the $25 billion mark for the second …

Turning tide: On India’s goods exports
1 year, 11 months ago

Turning tide: On India’s goods exports

The Hindu  

India’s goods exports rebounded from a nearly 17% dip in October to a mild 0.6% uptick in November. Their share in exports growth has been shrinking since June, with the contraction accelerating for many sectors from September to November — engineering goods that drove much of India’s record $422 billion goods exports in 2021-22, contracted 11.3% while textiles fell a …

Bangladesh Eyeing 'Ambitious' Free Trade Pact With India, Wants Widening Trade Deficit Narrowed
2 years ago

Bangladesh Eyeing 'Ambitious' Free Trade Pact With India, Wants Widening Trade Deficit Narrowed

ABP News  

New Delhi: Bangladesh wants to export a wide range of goods to India and is keen on concluding an "ambitious" free trade agreement, officially known as the Comprehensive Economic Partnership Agreement, in order to address the growing trade deficit between both neighbours. While the negotiations for the CEPA is yet to begin officially, Bangladesh Commerce Minister Tipu Munshi is visiting …

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