India's Export

India's exports growth momentum will have to come from its states

They can utilise opportunities for greater market access generated by free trade agreements

Exports in FY23 to reach about $770 billion: Commerce and industry ministry

India's merchandise and services exports combined in the current financial year ending March will be close to USD 760-770 billion, Union Minister for State for Commerce and Industry Anupriya Patel said on Thursday. The country's merchandise and services exports stood at USD 672 billion in the last fiscal. "We are focusing in every possible way on how we can export more and more because today India's share in global merchandise trade is close to 1.8 per cent. As far as services trade is concerned, it is just 4 per cent. We want to take it to 10 per cent," Patel said at the Sourcex India event here. India's merchandise and services exports in the current financial year ending March will be close to USD 760-770 billion, she noted. The minister also mentioned that the Indian economy is one of the fastest-growing economies in the world, and with the increasing globalisation of trade, there is immense potential for Indian businesses, particularly brands to expand their footprint in the .

Indian exporters boost euro hedges after rally to near two-year high

There is an urgency among exporters to hedge following the euro's rally to above 88, a treasury sales official at a private bank said

India's exports to Turkey may get impacted in short run due to earthquake

India's merchandise exports of commodities such as cotton, manmade yarn and textile dyes may be impacted in the short run to earthquake-hit Turkiye, according to exporters. Two powerful earthquakes hours apart on Monday last week caused widespread destruction of property and killed more than 28,000 people, leaving millions homeless in Turkiye. The earthquakes also caused damage to the infrastructure and logistics network with the Port of Iskenderun remaining closed for around a week. Exports to Turkiye increased to USD 6.2 billion during April-November 2022 against USD 5.1 billion in the corresponding period in 2021. Federation of Indian Export Organisations (Fieo) Director General Ajay Sahai said that the extent of the damage in Turkiye is yet not known and thus its impact on exports is difficult to ascertain. However, the earthquake will further depreciate Turkish Lira , which has significantly depreciated recently, and has touched its record low following the earthquake making

Maruti to ramp-up exports; targets shipments worth Rs 20,000 cr in 3 years

With more than 238,000 of the 570,000 units exported from India in fiscal 2022, Maruti Suzuki overtook Hyundai Motor India as the foremost passenger vehicle exporter

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

Top Headlines: GST e-invoicing for firms, corporate earnings in FY23 & more

The central government is planning to make GST e-invoicing mandatory for companies with a turnover of Rs 5 crore and above, a government official said. Read more on this in our top headlines

India's overall exports touch an all-time high of $669.65 bn in FY22

Goyal said that India is now an international aligned economy and the world is our market today, not India

India achieved export target of $418 billion this year: Piyush Goyal

Goyal said the Indian textile Industry has the potential to achieve $100 billion in exports by 2030

Comm Min extends deadline for exporters to submit applications for dues

Exporters can claim pending refunds under the Merchandise Exports from India Scheme (MEIS), RoSCTL (Rebate of State and Central Levies and Taxes) scheme and Rebate of State Levies (RoSL) scheme

Russia-Ukraine crisis to widen India's current account deficit: Ind-Ra

The crisis is expected to increase prices of mineral fuels and oils, gems and jewellery, edible oils and fertilisers

Exports shrink for 3rd straight month; down 1.1% in Oct; imports fall 16.3%

Merchandise trade deficit remained relatively low at $11 billion after the $10.86-billion deficit in September

US trade representative welcomes WTO ruling against Indian export incentive

"This is a resounding victory for the United States," Robert Lighthizer said in a statement.

India's exports dip 6.57% in September at $26 bn; imports contract 13.58%

India's exports contracted by 6.57 per cent to USD 26 billion in September mainly due to significant dip in shipments from key sectors such as petroleum, engineering, leather, chemicals, and gems & jewellery. Imports too declined by 13.85 per cent to USD 36.89 billion, narrowing trade deficit to USD 10.86 billion in September, according to official data released on Tuesday. Trade deficit in September last year stood at USD 14.95 billion. Out of 30 key export sectors, as many as 22 showed negative growth in September. Shipments of gems and jewellery, engineering goods, and petroleum products contracted by 5.56 per cent, 6.2 per cent and 18.6 per cent, respectively. In September, oil imports declined by 18.33 per cent to USD 8.98 billion, and non-oil imports fell by 12.3 per cent to USD 27.91 billion. Cumulatively, during April-September 2019, exports were down 2.39 per cent to USD 159.57 billion while imports contracted by 7 per cent to USD 243.28 billion. Gold imports plunged ..

$5-trn GDP goal: Exports need to contribute $1 trn to economy, says Goyal

The minister asked exporters and importers to flag issues regarding availability of land, labour, common effluent treatment plants

Need focus on key exports to boost India's global share, says CII

India's overall export share in total global imports of $17,958 billion stands at a mere 1.65 per cent