Page 3 - India Exports

Todays Top Headlines: India's 5G spread, Prosus-BillDesk M&A deal, and more

Global telecom gearmaker Ericsson's senior vice-president Nunzio Mirtillo believes that India will see one of the fastest 5G adoptions in the world

Exporters call on FM Sitharaman to extend GST exemption on export freight

If the exemption is not extended, exporters will have to pay GST of 18% on export ocean freight, which will increase the logistical costs for Indian goods in global market

Surge in import cost may negate positive impact of rupee fall: Experts

According to an analysis done by FIEO, the rupee has depreciated by 8.1 per cent till September 7, 2022 since the same point last year

India defends decision to ban rice, wheat exports at WTO meeting

India has defended its decision to ban export of wheat and rice at a WTO meeting even as some member countries have flagged concerns over the country's stand, an official said. At a meeting last week in Geneva, Senegal, the US and the European Union raised questions over this decision, stating it could have adverse implications on global markets. In May, India restricted export of wheat to enhance domestic availability. This month, it also banned export of broken rice and imposed a 20 per cent export duty on non-Basmati rice except for parboiled rice to boost domestic supplies amid a fall in area under paddy crop in the current kharif season. Defending its decision, India clarified that the ban on export of broken rice, which is used in poultry feed, follows a rise in the grain's exports in recent months which put pressure on the domestic market. In the case of wheat, food security concerns necessitated export curbs. India has also stated that the measures are temporary in nature

India's non-petroleum exports to UAE underperform after FTA, shows data

In comparison, India's overall non-petroleum exports grew 8 per cent during May-July while overall exports grew 15.1 per cent during the same period

India's exports surge 1.62% in Aug with outbound shipments worth $33.92 bn

External demand for key commodities such as engineering goods, gems and jewellery, and textiles fell in August

Expect $470-billion merchandise exports by year-end, says FIEO

Rupee trade mechanism with Russia to start soon, says FIEO

India's merchandise exports to rise over 11% to $114 bn in July-September

India's merchandise exports are expected to grow by 11.4 per cent to hit USD 114.4 billion during the July-September quarter of the current financial year, data from Exim Bank showed. However, the rise in exports during the second quarter of FY23 could be shadowed by softening global commodity prices. Among others, possible slowdown in major trade partners, inflationary pressures and tight monetary policies around the world could also offset the exports gain, Export-Import Bank of India (Exim Bank) said in its quarterly data. Exim Bank releases the forecast during the first weeks of June, September, December and March for the corresponding quarters. The policy banker for the government has an in-house model to generate an Export Leading Index (ELI) for the country to track and forecast the movement in India's exports on a quarterly basis. ELI gauges the outlook for country's exports. It is essentially developed as a leading indicator to forecast growth in total merchandise and othe

Sri Lanka's economic crisis powers 22% spike in Indian orthodox tea exports

Sri Lanka accounts for half the global trade in orthodox teas. Sources say exports from India could pick up further in second and third quarters, will help meet target of 240 mkg by year-end

After duty hike on some varieties, Centre bans broken rice exports

India exported around 1.8 MT broken rice between April-June

As India makes headway in exports to the US, can it be the next China?

Sea-borne shipments of festival goods and accessories to America touched $20 million last month, almost triple the value from the year-ago period

Exports fall 1% in August to $33 billion; trade deficit remains elevated

"Conservative" merchandise export target set at $450 billion in FY23, says commerce secretary. Department's internal target remains $470 billion

Indian exports to China dip by a third in April-August to $6.8 billion

China became India's fourth largest export destination during the period, slipping from the second position during the same period a year ago

Govt working to avoid panic over rice with targeted curbs on export

India accounts for 40% of the global rice trade so any change in its export policy has huge implications for the billions of people who depend on the staple

Centre restricts wheat flour exports to stabilise soaring local prices

India's cabinet approved a policy to restrict wheat flour exports to calm prices in the local market, the government said in a statement

MeitY pushes Chinese firms to participate in smartphone exports from India

Asks them to strengthen supply chain, increase value additions

Exports up 2.14% to $36.27 bn in July; trade deficit at record $30 bn

Imports shot up by 43.61 per cent to $66.27 billion in the month compared to July 2021, the data showed.

World's food supply faces new threat after India's rice crop falters

The threat to India's rice production comes at a time when countries are grappling with soaring food costs and rampant inflation

India's non-oil exports to Nepal fell 13% to $943 mn in April-May

Himalayan neighbour bans imports of non-essentials amid depleting forex; dip could impact India's FY23 trade deficit which is already worsening on fears of recession in developed countries

Rupee at 80: Little relief on the cards from high trade deficit

Due to global risk aversion on the back of geo-political tensions and aggressive policy tightening by the Fed, the dollar has appreciated against most currencies, including the rupee