Centre’s export promotion mission to take shape in two months, focus on boosting exports and addressing deficit
1 month, 4 weeks ago

Centre’s export promotion mission to take shape in two months, focus on boosting exports and addressing deficit

Live Mint  

New Delhi: The government's export promotion mission, announced in the recent budget, is set to take shape within the next two months, bringing key ministries together to identify sectors needing capital for technology, marketing, and market expansion, two senior officials told Mint. Mission announced In her budget speech last week, finance minister Nirmala Sitharaman announced an export promotion mission, spearheaded by the ministries of commerce, finance, and micro, small, and medium enterprises, to position exports as a key driver of economic growth. Schemes in design News agency PTI on Tuesday reported that the government is designing schemes to support MSME exporters by offering credit on favourable terms, strengthening services to promote alternative financing, and providing assistance to navigate non-tariff barriers imposed by other countries. India’s merchandise trade deficit stood at $21.94 billion in December after widening to $37.84 billion in November, $27.4 billion in October, and $20.78 billion in September, according to the latest data from the commerce ministry.

India Trade Export Person Msme Commerce Finance Promotion Mission  shape  focus  exports  months  person  boosting  trade  global  promotion  mission  ministries  export  billion  commerce  finance  deficit  centres

History of this topic

Tariff-proofing India’s exports
1 week, 6 days ago

Tariff-proofing India’s exports

Hindustan Times  

The tariff turmoil from the United States is emerging as the biggest ‘known unknown’ for the global economy in 2025. Indian economy For some time now, the relative stability of the World Trade Organization -refereed trade regime has cultivated a wide-spread complacency with global trade ballooning nearly five times since the creation of WTO. The long entrenchment in stable global …

India-U.S. trade: Small exporters seek import duty cuts to counter U.S. steel, aluminium tariffs
3 weeks, 6 days ago

India-U.S. trade: Small exporters seek import duty cuts to counter U.S. steel, aluminium tariffs

The Hindu  

India's small engineering goods exporters have urged the government to cut import tariffs on some U.S. goods to try and achieve more favourable trade terms as President Donald Trump prepares to implement new steel and aluminium duties, the head of an industry body said. "Of India's $20 billion annual engineering goods exports, nearly $7.5 billion worth of shipments could be …

Government steadfast in easing regulatory burdens, taking steps to make India export-friendly: Sitharaman
Trending News
4 weeks, 1 day ago

Government steadfast in easing regulatory burdens, taking steps to make India export-friendly: Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman on Tuesday said the Government remains steadfast in reducing regulatory burdens, besides enhancing trust-based governance and taking steps to make India a “seamless, export-friendly” economy. “A robust manufacturing sector free from unnecessary regulatory bottlenecks will further attract both domestic and foreign investments, driving economic growth, positioning India as a trusted global player,” Ms. Sitharaman said while …

Government looks to enhance PLI scheme to boost exports. Details here
4 weeks, 2 days ago

Government looks to enhance PLI scheme to boost exports. Details here

India Today  

The Indian government is looking at ways to make the Production-Linked Incentive scheme more effective by focusing on local value addition and exports, reported the Indian Express. ENHANCED FOCUS ON EXPORTS Introduced in April 2020, the PLI scheme has drawn substantial investment in 14 sectors, attracting original equipment manufacturers and contract manufacturers to scale up production. In order to minimise …

Aim for threefold surge in exports to $100 bn in seven years: Goyal to electronics sector
1 month, 1 week ago

Aim for threefold surge in exports to $100 bn in seven years: Goyal to electronics sector

Live Mint  

New Delhi: India’s electronics goods sector should target to boost exports by more than threefold to over $100 billion over the next seven years, said Union commerce minister Piyush Goyal, emphasizing the need for stronger supply chains and globally competitive pricing amid global trade headwinds. The sector should prioritize consumer interests and strike a balance between industry growth and affordability, …

Govt. formulating strategies to protect exporters, says Minister
1 month, 2 weeks ago

Govt. formulating strategies to protect exporters, says Minister

The Hindu  

The governmentis formulating strategies to ensure that the interests of exporters and people are protected, Union Minister of State for Commerce and Industry and Electronics and Information Technology Jitin Prasada said on Tuesday. that’s the way the world has become,” he said at the EEPC India National Awards ceremony. Prime Minister Narendra Modi and Union Commerce Minister Piyush Goyal are …

Union Budget 2025: Government to set up Export Promotion Mission with an outlay of ₹2,250 crore
2 months ago

Union Budget 2025: Government to set up Export Promotion Mission with an outlay of ₹2,250 crore

The Hindu  

The Union Budget announced an Export Promotion Mission with an outlay of ₹2,250 crore to facilitate easy access to export credit, cross-border factoring support, and help MSMEs tackle non-tariff measures in overseas markets. Institute in Bihar In order to support food processing exports, a National Food Technology Institute will be set up in Bihar and it will enhance value addition, …

Budget 2025: Govt mulls Export Promotion Mission
2 months ago

Budget 2025: Govt mulls Export Promotion Mission

Deccan Chronicle  

Chennai: While the global uncertainties are looming large over global trade, the Budget proposes to set an Export Promotion Mission, a unified platform for documentation purposes and make bilateral investment treaties investor-friendly. It will facilitate easy access to export credit, cross-border factoring support, and support to MSMEs to tackle non-tariff measures in overseas markets,” the Budget said. The Budget said …

Budget 2025: Centre exempts customs duties on EV battery materials
2 months ago

Budget 2025: Centre exempts customs duties on EV battery materials

The Hindu  

In its attempt to promote domestic manufacturing of lithium-ion batteries to drive electric mobility, the government will add 35 additional capital goods used in the manufacturing of Electronic Vehicle batteries to the duty exemption list, Finance Minister Nirmala Sitharaman said in her budget speech. “It will facilitate easy access to export credit, cross-border factoring support, and support to MSMEs to …

Budget 2025: New export promotion mission aims to boost growth and narrow trade deficit
2 months ago

Budget 2025: New export promotion mission aims to boost growth and narrow trade deficit

Live Mint  

Finance minister Nirmala Sitharaman on Saturday, 1 February, unveiled an Export Promotion Mission, spearheaded by the ministries of commerce, finance, and micro, small, and medium enterprises, to position exports as a key driver of economic growth. Part of the budget announcements for 2025-26, the initiative aims to narrow India’s trade deficit, which hit a record $32.8 billion in November 2024. …

India Needs a Strategic Trade Roadmap
2 months ago

India Needs a Strategic Trade Roadmap

Deccan Chronicle  

Chennai: Trade sector has demonstrated stability and growth despite global economic headwinds. However, rising trade protectionism and increased uncertainty calls for a new strategic trade roadmap, which includes enhancing participation in global supply chains, reduction in trade costs and improvement in facilitation to boost export competitiveness. However, the rising net services receipts and increase in private transfer receipts cushioned the …

90% of Indian MSMEs Find E-Commerce Export Ecosystem Challenging
2 months, 2 weeks ago

90% of Indian MSMEs Find E-Commerce Export Ecosystem Challenging

Deccan Chronicle  

A recent poll conducted by Empower India revealed that nearly 90% of Indian MSMEs and exporters find the current e-commerce export ecosystem difficult to navigate. The poll aimed to shed light on the state of e-commerce exports, identifying key barriers to growth and the support required to unlock India's full export potential. “By prioritizing simplified regulations, affordable shipping, and robust …

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

Trade and service sector leaders meet FM, urge tax cuts, export support
3 months, 1 week ago

Trade and service sector leaders meet FM, urge tax cuts, export support

Live Mint  

New Delhi: Trade and service sector representatives met finance minister Nirmala Sitharaman on Thursday for pre-budget consultations, seeking tax cuts for MSMEs, incentives for smaller companies to reduce their carbon footprint and energy costs, increased financial support for exporters, and the continuation of the Interest Equalisation Scheme to maintain export competitiveness. "Allocating specific funds for capacity-building programmes targeting prospective exporters …

UP govt to launch new export policy to increase its trade share to 7.5%
3 months, 1 week ago

UP govt to launch new export policy to increase its trade share to 7.5%

Live Mint  

The Uttar Pradesh government is working to unveil a new export policy for 2025-30, aiming to significantly enhance the state’s contribution to India’s overall exports. In an interview, UP’s minister for industrial development and export promotion Nand Gopal Gupta said the proposed policy targets increasing the state's share in India’s total exports to 7.5%, up from the current share of …

Mint Primer: How India’s trade gap soared, and how it might hurt
3 months, 1 week 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. …

Indian manufacturing must adapt to constant flux in a dynamic world
3 months, 2 weeks 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 …

CII Focuses on Boosting MSME Exports
3 months, 2 weeks ago

CII Focuses on Boosting MSME Exports

Deccan Chronicle  

New Delhi: Leading industry body Confederation of Indian Industry on Wednesday said that it would focus on critical challenges which hinder manufacturing and export growth, especially in small business segments. “Deeper integration into global value chains, enhanced digital trade infrastructure and a focus on building the competitiveness of micro, small and medium enterprises will help India more than double its …

DC Edit | Time to focus on service sector
3 months, 2 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 …

We should not be overly concerned about imports as long as exports' share grows: Commerce Secretary
3 months, 3 weeks ago

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

Deccan Chronicle  

New Delhi: India should not be overly concerned about imports as long as exports' share continues to grow, Commerce Secretary Sunil Barthwal said on Thursday. "Because if the Indian economy is growing at 7 per cent and if the world is growing at 3-3.5 per cent rate of growth then obviously India will be requiring more consumption, more of imports …

India’s exports rise, boosting global presence
3 months, 4 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 …

India will meet its exports target of USD 800 billion this year: Commerce Secretary
4 months, 2 weeks ago

India will meet its exports target of USD 800 billion this year: Commerce Secretary

Op India  

India’s exports surged by over 19 per cent in October. Commerce Secretary Sunil Barthwal was upbeat on the trade data and said, “It has been an extremely good month for us, and not only our overall export progress has been extremely good, but if you look at April to October, this has been the highest ever non-petroleum exports from this …

The IMF's WEO and the Rise of China: A Cautionary Tale for India
5 months, 1 week 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 …

India targets $1 trillion exports by 2030: Coimbatore DGFT
6 months 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 …

Is the spike in India’s trade deficit a worry?
6 months, 1 week 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
8 months, 1 week 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 …

Apparel manufacturers hold meeting in New Delhi, discuss measures to increase exports to $40 billion by 2030
10 months, 3 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 …

Govt aims to grab 10% agri exports market
11 months, 1 week 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 …

Commerce ministry shifts focus to push fresh fruits and vegetables to US and EU
11 months, 4 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 …

'We will transform India into a global export hub': PM Modi inaugurates Bharat Tex 2024 at Delhi's Bharat Mandapam
1 year, 1 month ago

'We will transform India into a global export hub': PM Modi inaugurates Bharat Tex 2024 at Delhi's Bharat Mandapam

Op India  

Prime Minister Narendra Modi affirmed to transform India into a Global Eain auxport Hub as he inaugurated the global textile event, Bharat Tex 2024 at Delhi’s Bharat Mandapam on Monday. The Prime Minister said that the government’s consistent efforts are giving rise to increased foreign investments in India’s textile sector. Bharat Tex 2024, one of the largest-ever global textile events …

A tale of India’s two big export industries: And a lesson on incentives
1 year, 2 months ago

A tale of India’s two big export industries: And a lesson on incentives

Live Mint  

India boasts of vast production capacity in one industry. Almost all its raw material is imported, resulting in the highest foreign value-added content in Indian exports among all industries, and low employment generation via backward linkages. Entrepreneurs in both sectors realized that by entering these, they can avoid dependence on India’s poor physical infrastructure, stringent labour laws and multiple licensing …

Downhill driving: The Hindu Editorial on India’s overall trend of exports
1 year, 8 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 …

Empowering districts: India's grassroots trade revolution
1 year, 11 months ago

Empowering districts: India's grassroots trade revolution

Live Mint  

A core component of the new foreign trade policy announced last month is the focus on districts as export hubs. View Full Image Mint Other sectors where production is more widely dispersed, with the top-exporting district having an export share of less than 15%, are prepared foods and beverages, wood pulp and paper, chemicals and chemical products and vegetable products.There …

Trade chamber hails new foreign trade policy
1 year, 11 months ago

Trade chamber hails new foreign trade policy

New Indian Express  

MADURAI: The Tamil Nadu Chamber of Commerce and Industry hailed the Foreign Trade Policy recently announced by the union government as comprehensive and inclusive. In a release, chamber president Dr N Jegatheesan the new trade policy, which comprises guidelines governing and regulating the import and export of goods and services, will help achieve better export promotion by fostering partnerships between …

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

Centre unveils new foreign trade policy; focus on e-commerce, trade facilitation
2 years ago

Centre unveils new foreign trade policy; focus on e-commerce, trade facilitation

Live Mint  

New Delhi: The Union government on Friday announced the new foreign trade policy that will focus on emerging areas such as e-commerce exports, greater trade facilitation and developing districts as export hubs. The Foreign Trade Policy 2015-20, which was to end on 31 March 2020, was extended four times: earlier due to the covid-19 pandemic, and more recently due to …

Government vows swifter nod for exporters
2 years 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
2 years 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
2 years 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 …

Finance Minister Nirmala Sitharaman exhorts exporters to 'foresee' impact of global slowdown, engage with govt
2 years, 1 month 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 …

FM exhorts exporters to \'foresee\' impact of global slowdown, engage with govt
2 years, 1 month ago

FM exhorts exporters to \'foresee\' impact of global slowdown, engage with govt

Deccan Chronicle  

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 assured the industry that the government is looking at specific items to see which are going to be consistently …

India automobile exports rose 35.9% in FY22: Government
2 years, 1 month ago

India automobile exports rose 35.9% in FY22: Government

Live Mint  

New Delhi: India exported 56,17,246 units of automobiles in financial year 2021-22, an increase of 35.9% from 41,34,047 sold overseas in FY21, the Ministry of Commerce & Industry said on Friday. Of this, export of passenger vehicles, including cars increased to 5,77,875 in 2021-22 from 4,04,397 in 2020-21, registering a growth of 42.9%, while those of commercial vehicles rose 83.36% …

Many more PLIs in the pipeline, says Piyush Goyal
2 years, 2 months ago

Many more PLIs in the pipeline, says Piyush Goyal

Live Mint  

New Delhi: The record capex push in the union budget will drive growth and create jobs, commerce minister Piyush Goyal said in a media interaction, adding that “many” production linked incentives are in the pipeline and they would be announced after getting cabinet approval on a regular basis. Never before in the history of India has the country focused on …

India's services exports to cross $300bn target for this fiscal: Piyush Goyal
2 years, 2 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 …

Govt plans new trade body to push exports
2 years, 2 months ago

Govt plans new trade body to push exports

Live Mint  

The commerce ministry has proposed creating a unified body to strategize and coordinate trade promotion efforts, as the global economy appears headed for a deep slump because of the continuing conflict in Ukraine and China’s struggles with covid-19. The proposed organization aims to boost collaboration among various export promotion entities, with a focus on expanding into non-traditional markets such as …

Turning tide: On India’s goods exports
2 years, 3 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 …

Nirmala Sitharaman asks States to ease logistics burden on exporters
2 years, 5 months ago

Nirmala Sitharaman asks States to ease logistics burden on exporters

Deccan Chronicle  

KAKINADA: Union Finance Minister Nirmala Sitharaman on Friday asked States to adopt a multi-modal approach and ensure logistics did not become a burden on exporters. We also should identify ways in which those taxes – whether Centre, State or local – that are on these products should be removed so that we don't burden their exporters,” the Finance Minister said. …

Exporters keeping fingers crossed due to 'visible' recessionary trends in European Union
2 years, 5 months ago

Exporters keeping fingers crossed due to 'visible' recessionary trends in European Union

Firstpost  

The EU is one of major export destinations for Indian exporters, accounting for about 15 per cent of India’s total outbound shipments New Delhi: Exporters are keeping their fingers crossed due to “visible” recessionary trends in the European Union as it could affect demand for domestic goods in that market in the coming months. The EU is one of major …

SEPC holds session on Services Sector Exports Strategy for India@2047
2 years, 6 months ago

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

Hindustan Times  

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

Discover Related