Page 3 - Export

Listed firms managing liquidity challenges well, says India Ratings

Given the tightening liquidity conditions and higher cost of borrowings, corporates with a weak credit profile are likely to tap a loan against shares facility to meet their funding requirements

Skoda Auto Volkswagen begins export of SUV Kushaq to Arab Gulf countries

Skoda Auto Volkswagen India on Monday said it has commenced exports of mid-sized sports utility vehicle Kushaq. The company, which manages the Indian region of five Volkswagen Group brands Skoda, Volkswagen, Audi, Porsche, and Lamborghini - has started shipments of left-hand-drive Kushaq to Arab Gulf Cooperation Council (AGCC) countries. In September, Skoda Auto Volkswagen India Pvt Ltd (SAVWIPL) commenced export of Volkswagen Taigun and Virtus. "The Skoda Kushaq is the third made-in-India car to be exported this year..the market acceptance and success of all our exports highlight our global quality standards," SAVWIPL Managing Director Piyush Arora said in a statement. SAVWIPL launched its export programme in 2011 with 6,256 units of the India-built Volkswagen Vento for the South African market. Since then, the company's export market has continued to grow incrementally to 44 countries across South America, Central America, Africa, the Indian Subcontinent, Southeast Asia, the AG

Madras Chamber to focus on TN's Industry 4.0, Fintech promotion: Official

Over century old industry body Madras Chamber of Commerce and Industry would focus on export promotion, Industry 4.0 and financial technology that would support the Tamil Nadu government's vision of reaching a GSDP of USD 1 trillion as put forth by Chief Minister M K Stalin, an official said on Saturday. The Tamil Nadu government's ambitious 'Naan Mudhalvan Scheme' is a major step in breaking the barrier, MCCI president T R Kesavan said. According to him, the 186-year-old Chamber would bring out a handbook on regulatory compliance titled 'Doing Business in Tamil Nadu' by working closely with the government to promote new investments. "The State government has undertaken various initiatives such as allotment of Rs 100 crore to improve the infrastructure of export companies, setting up knowledge city and releasing export promotion strategy to bring Tamil Nadu a leader among Indian States in export," he said. The focus is on sectors like information technology, data centre, textiles,

Centre considering 100% WFH across all SEZ units, says Piyush Goyal

The move is expected to create employment opportunities in small cities and increase the export of services

CEPA: When it comes to trade with Bangladesh, India is far behind China

China accounted for 10.2 per cent of FDI investments in Bangladesh between 2014 and 2021, India's share was 3.9 per cent

China's export growth sinks in August, imports shrink due to inflation

China's trade weakened in August as high energy prices, inflation and anti-virus measures weighed on global and Chinese consumer demand, while imports of Russian oil and gas surged. Exports rose 7% over a year ago to USD 314.9 billion, decelerating from July's 18% expansion, customs data showed Wednesday. Imports contracted by 0.2% to USD 235.5 billion, compared with the previous month's already weak 2.3% growth. Demand for Chinese exports has softened as Western economies cool and the Federal Reserve and central banks in Europe and Asia raise interest rates to contain surging inflation. At home, repeated closures of Chinese cities to fight virus outbreaks has weighed on consumers' willingness to spend. The slowdown in China's export sector is adding to headwinds for the Chinese economy, said Rajiv Biswas of S&P Global Market Intelligence in a report. Lack of import growth highlights continued weakness of Chinese domestic demand. Growth in the world's second-largest economy fell .

UP Inc forges tie-ups in Africa, Europe to achieve $1 trn economy target

The 13 thriving business clusters in Denmark are seen having a good potential for joint ventures, import and export, especially for the MSME sector

RBI took steps to promote rupee as preferred currency for global trade: FM

RBI asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency.

Bangladesh, world's no 2 clothes exporter, sees order drop as power falters

Bangladesh's garment industry is facing a double whammy from slowing global demand and an energy crisis at home that's threatening to thwart the nation's pandemic recovery

First ship carrying 26,000 tonnes Ukrainian grain leaves port of Odesa

The first ship carrying Ukrainian grain has set off from the port of Odesa, Turkey's defense ministry said Monday

Centre likely to allow 1.2 MT additional sugar exports this season

Sugar production in the current year now estimated at more than 36 MT, against expectation of 35 MT

India to import 76 MT coal to meet demand; power tariff to go up: Report

India is planning to import nearly 76 million tonnes (MT) of coal this fiscal year to reach the fossil fuel shortfall in power plants

Ukraine grain export deal to be signed in Istanbul: Turkey officials

Turkish officials say a deal on a UN plan to unblock the exports of Ukrainian grain amid the war and to allow Russia to export grain and fertilisers will be signed Friday in Istanbul. Turkish President Recep Tayyip Erdogan's office said that he, U.N. Secretary General Antonio Guterres and officials from Russia and Ukraine will oversee the signing ceremony. It did not provide further details. The grain export agreement, critically important for global food security, will be signed in Istanbul tomorrow under the auspices of President Erdogan and U.N. Secretary General Mr. Guterres together with Ukrainian and Russian delegations, Erdogan spokesman Ibrahim Kalin said in a tweet. Guterres has been working on a plan that would enable Ukraine to export millions of tons of grain stockpiles that have been stuck in Ukraine's Black Sea ports due to the war a move that could ease a global food crisis that has sent wheat and other grain prices soaring. At least 22 million tons of grain are stuc

Extending export credit in rupee can boost its acceptability: Experts

However, the rupee can truly become internationalised only when it becomes freely convertible on capital account, they say

European railways to help Ukraine with grain export amid Russia's blockade

Due to the ongoing Russian blockade, about 30 chiefs of European railways plan to sign the "Ukrainian Declaration" in Vienna on Saturday help Kiev export grain

Ukraine cancels licensing of wheat, meslin exports: Food ministry

The Ukrainian government has cancelled the licensing of the exports of wheat and meslin -- a mixture of wheat and rye, the country's Agrarian Policy and Food Ministry said in a statement on Friday

Ukraine negotiating with Turkey, UN on grain export through ports: Zelensky

Ukrainian President Volodymyr Zelensky has said that his country is presently negotiating with Turkey and the UN regarding the export of grain through ports

High export tariff of 45% to make iron ore pellet export unviable: ICRA

"The application of this high export tariff has reduced a merchant exporter's net effective realisation, rendering pellet exports unviable," it said.

PM Modi urges industry to set up long-term export targets, 'double efforts'

Despite disruptions in the global economy, India's goods and services exports stood at $670 billion and exceeded the $400-billion target for merchandise export alone, he said

ISMA seeks 1 mt of additional sugar exports in 2021-22 season

Cites production increase to 36 million tonnes from 35 million tonnes last season