Page 4 - Indian Exports

India's weakening exports prompt slow trade deficit moderation: Barclays

India's large trade deficit is beginning to consolidate, but the weaker exports are prompting a more gradual adjustment than expected, Barclays Bank said in a note on Tuesday

India's exports dip by 3.52% to $32.62 bn in September: Govt data

India's exports contracted by 3.52 per cent to USD 32.62 billion in September against USD 33.81 billion in the same month last year, while the trade deficit widened to USD 26.72 billion, according to the preliminary data released by the commerce ministry on Monday. Imports during the month, however, grew by 5.44 per cent to USD 59.35 billion as against USD 56.29 billion in September 2021, the data showed. The exports during April-September 2022-23 rose by 15.54 per cent to USD 229.05 billion. Imports during the period increased by 37.89 per cent to USD 378.53 billion. The trade deficit during the first six months of the fiscal has widened to USD 149.47 billion as against USD 76.25 billion during April-September 2021-22.

India's CAD may have breached 3% of GDP in Q1 on surge in imports

Analysts peg full-year figure at $120 bn, but say it will be lower as proportion of GDP than FY13 levels

Govt extends exports of broken rice consignments in transit till Sept 30

The government on Tuesday extended the last date for the export of broken rice in transit till September 30. It was earlier allowed till September 15. The government had banned exports of broken rice on September 8. "Export of consignments of broken rice...as permissible under notification dated September 8 has been extended till September 30, 2022," the directorate general of foreign trade said in a notification. September 8 notification had stated that during the period September 9-15, certain consignments of broken rice will be allowed to be exported.

Share of petro products in exports touches record high at 21.2% in Apr-Aug

India's heavy dependence on energy exports have also boosted its overall merchandise exports

Exports rise marginally in Aug; trade deficit more than doubles to $28 bn

India's exports rose marginally by 1.62 per cent to USD 33.92 billion and trade deficit more than doubled to USD 27.98 billion in August, data released by the commerce ministry said on Wednesday. Trade deficit in August 2021 stood at USD 11.71 billion. Imports rose by 37.28 per cent to USD 61.9 billion in August this year. During April-August 2022-23, exports registered a growth of 17.68 per cent to USD 193.51 billion. Imports during the five-month period of this fiscal grew by 45.74 per cent to USD 318 billion. Trade deficit widened to USD 124.52 billion in April-August this fiscal as against USD 53.78 billion in the same period last year.

Top headlines: Byju's FY21 losses widen; India's Aug trade deficit doubles

The wholesale price-based inflation eased to 11-month low of 12.41 per cent in August, on softening in prices of manufactured and fuel products, even as food items remained expensive.

Are exports holding up?

Strong export volumes have been a major driver of India's growth over the last few years; high technology exports have clearly outperformed medium and low technology exports

Export momentum dissipating but new opportunities opening up

Speculation on what the new Foreign Trade Policy, to be unveiled this month-end, may contain has engaged the attention of exporters and importers

India-US Trade Policy Forum meeting expected soon, says Piyush Goyal

Asserts Indian exports not impacted by GSP, says India looking to have very contemporary and modern digital laws, while maintaining high levels of data privacy

Top Headlines: Queen Elizabeth II dies, Reliance Jio's 5G plans, and more

Business Standard brings you the top headlines at this hour

New foreign trade policy may focus on non-fiscal measures to boost exports

The policy could throw light on how India may want to be integrated into the global value chain, for which realignment has started, and factors that have affected the integration

Indian exporters should not rush to hedge non-dollar exposure: Analysts

Biswas pointed to next week's U.S. consumer inflation and the Sept. 20-21 Fed meeting as events that could trigger a pullback on the dollar index

Garden Reach Shipbuilders soars 13%, hits new high on strong outlook

A strong order book for construction of 16 warships concurrently for Indian Armed Forces at this juncture holds exciting times ahead for the GRSE, the company said

India aspiring to take international trade to $2 trn by 2030: Piyush Goyal

India's goods and services exports have already crossed USD 675 billion in last fiscal year and the country is now aspiring to take international trade to USD 2 trillion by 2030, Commerce and Industry Minister Piyush Goyal has said. Interacting with faculty, researchers, and students at the Stanford University here, Goyal also said by the time India would celebrate the 100th anniversary of its independence, it would be a USD 30 trillion economy. "...by 2047-2050 period, when India would be completing 100 years of Independence, we will be at least a USD 30 trillion economy on a business as usual scenario and possibly a USD 35-45 trillion economy if some of the aggressive plans that the government is putting together work well. That's the kind of opportunity that I bring to the table, Goyal said. India, with a GDP of USD 3.3 trillion, is currently the fifth largest economy in the world only behind the US, China, Japan and Germany. A decade back, India was ranked 11th among the large

US, EU demand slowdown, global uncertainties impacting India's exports

Subdued demand from developed countries and blocs like the US and EU is impacting exports of key sectors including engineering, gems and jewellery and may have implications on India's exports in case the global situation does not improve in coming months. Global inflation, Russia-Ukraine war, simmering China-Taiwan crisis and supply disruptions are hurting economic growth worldwide, leading to poor demand, experts say. The world merchandise trade volume is expected to grow 3 per cent in 2022 against the earlier forecast of 4.7 per cent, mainly due to the ongoing war between Russia and Ukraine, according to the World Trade Organization forecast, released in April. Organisation for Economic Cooperation and Development (OECD), a grouping of developed nations, has stated that G-20 merchandise trade growth has slowed markedly in value terms in second quarter of 2022 (April-June). Exporters are keeping their fingers crossed over the country's exports growth and are hopeful that the ...

Nomura raises India's CAD estimate on fears of slowdown in export

Research house Nomura expects CAD as a share of the gross domestic product to triple this fiscal year, saying that a global economic slowdown will further skew the country's trade imbalances

Amid global headwinds, Indian exporters hope to tide over slowdown

Say India is better placed even as exports decline

Stuck payment, discount: China puts Indian hair exporters in tough position

Chinese buyers, who account for 80 per cent of Indian hair exports, are asking exporters to ship hair at a discount of 40 per cent

Diesel export falls 11%, petrol 4.5% in July on levy of windfall profit tax

India's diesel exports fell by 11 per cent in July and overseas shipment of petrol dropped by 4.5 per cent after the government slapped a windfall profit tax on such sales, official data showed. Diesel exports dropped to 2.18 million tonnes in July from 2.45 million tonnes a month back, data from the Oil Ministry's Petroleum Planning and Analysis Cell (PPAC) showed. Similarly, petrol exports fell to 1.1 million tonnes from 1.16 million tonnes in June. India first imposed windfall profit taxes on July 1, joining a growing number of nations that taxes super normal profits of energy companies. Export duties of Rs 6 per litre were levied on petrol and aviation turbine fuel and Rs 13 a litre on diesel. The duties were partially adjusted in three rounds on July 20, August 2 and August 19, and have now been removed for petrol, with Rs 7 per litre and Rs 2 per litre remaining for diesel and ATF, respectively. The export levies helped ease the strain on domestic fuel supply. The levies wer