FIEO

India's exports are expected to grow by 3-5 per cent to USD 435-445 billion in this fiscal, exporters' body FIEO said on Friday. In 2021-22, the country's exports touched an all-time high of USD 422 billion. Federation of Indian Export Organisations (FIEO) President A Sakthivel said that the coming months are going to be little challenging unless both global economic growth and geopolitical situation improve drastically. "However, we will be on course to cross the previous year's goods export target quite easily touching almost USD 435-445 billion with a growth of over 3-5 per cent this fiscal," he said in a statement. Contracting for the second month in a row, India's exports dipped by 6.58 per cent to USD 32.91 billion in January due to a slowdown in global demand. Cumulatively, the country's merchandise exports during April-January 2022-23 rose 8.51 per cent to USD 369.25 billion. Sakthivel said that FIEO in its continuous endeavour to handhold and mentor the exporting communi

Increasing exports to markets such as Brazil, South Africa and Saudi Arabia are boosting the growth of the country's outbound shipments, FIEO said on Tuesday. Federation of Indian Export Organisations (FIEO) President A Sakthivel said the Economic Survey has rightly highlighted India's growing and diversifying merchandise trade. "The new diversified markets, including those of Brazil, South Africa and Saudi Arabia, have led to the increase in exports by up to 2 times," he said. The ongoing trade negotiations with the UK, EU, Canada, and Israel will also add further impetus to our exports, he added. "Reducing the cost of logistics in the country, which now to the tune of 14-15 per cent, comparable to the global benchmark, will help in making our exports more competitive worldwide," Sakthivel said. Yogesh Gupta, Regional Chairman, FIEO (Eastern Region), said the exporter fraternity is expecting fiscal support and affordable credit, from the upcoming budget. "A need of the hour is t

The World Trade Organization (WTO) has also painted a grim picture for the outlook of global trade next year amid fears of a recession

In July, the RBI had unveiled a mechanism to settle international transactions in rupee to promote the growth of global trade, with emphasis on exports from India

An FTP is an elaborate policy guideline and a strategy to promote export of goods and services

It is difficult to understand why the exporters want the taxpayers' money to further their businesses

Indian companies are already swapping out dollars and euros for Asian currencies to settle trades to avoid Western sanctions on Russia

Rupee trade mechanism with Russia to start soon, says FIEO

Say India is better placed even as exports decline

Exporters said the move was a step towards acceptance of rupee as an international currency.

Actual agriculture exports in FY22 were $47.41 billion, up almost 19% over FY21. This was among the highest ever agriculture exports in value terms by India

The issue was raised by FIEO Chairman A Sakthivel during a meeting, chaired by Commerce and Industry Minister Piyush Goyal, on April 20

FIEO Vice Chairman Khalid Khan said that the continuous growth in exports since March will help in achieving the target of USD 400 billion for this fiscal

Apex trade promotion body FIEO on Saturday said it will handhold startups, artisans and farmers to facilitate their entry into the field of exports

Continuing a positive growth, India's exports grew by 80 per cent to USD 7.04 billion during the first week of this month, according to preliminary data of the commerce ministry.

The trade views these measures with suspicion and alerts the government to possible unintended consequences of the proposed amendments

They are worried that the two proposals would make it difficult to seek refunds under indirect tax laws

This comes as the outbound shipments were hit hard by the pandemic during the first half of the year, FIEO

Target unrealistic while govt frowns on trade deals

Non-availability of containers for the export sector is causing a concern for meeting delivery commitments of foreign buyers, apex exporters' body FIEO said on Wednesday