Merchandise Imports

India's merchandise imports to cross $700 bn in FY23 on higher crude: GTRI

India's merchandise imports are estimated to grow by about 16 per cent to USD 710 billion in this fiscal due to a jump in inbound shipments of crude oil, coal, diamonds, chemicals and electronics, a report by economic think tank GTRI said on Wednesday. The Global Trade Research Initiative (GTRI) also said that the Indian economy will be moderately impacted by weak global demand and recession in large economies. Six product categories - petroleum, crude oil; coal, coke; diamond, precious metals; chemicals, pharma, rubber, plastics; electronics; and machinery - account for 82 per cent of India's total merchandise imports. India's merchandise imports for the fiscal year ending March 2023 are estimated to touch USD 710 billion, up from USD 613 billion in FY'2022, an increase of over 15.8 per cent over last year, GTRI co-founder Ajay Srivastava said. It said that the estimated value of petroleum imports is USD 210 billion and this includes crude oil, LNG and LPG. Crude imports grew by

India's exports, imports shrink over 8% in February, shows govt data

Merchandise exports witnessed annual contraction in 16 of the 30 key sectors last month

Gems and jewellery exporters feel the heat of govt curbs on gold imports

Amid rising risks to external demand, the government is concerned about widening trade deficit, bringing the focus back on curbing non-essential imports

Dip in demand from China, Italy may have hit India's merchandise exports

India's merchandise exports contracted 3.5% to $33.6 bn in September

India's trade deficit surges 675% on high imports; exports up 21%

The trade deficit in September was at $22.94 billion as gold imports jumped nearly 750 per cent to $5.11 billion

Exports surge 45.8% in Aug to $33 bn; trade deficit widens to $13.8 bn

Merchandise imports continued to widen at $47.09 billion in August

Merchandise export receivables can't be set off against service import dues

You may remit the amount against the import of services separately and ask the buyer abroad to remit the full payment against your export bill

India Sept trade deficit in goods at $2.9 bn, merchandise imports dip 19.6%

Total merchandise imports fell by 40.06% to $148.69 billion during April-August while exports were down 21.43% from the year-ago period to $125.06 billion, the data showed

Govt mulls joining global customs pact on smoother trans-shipments

Cabinet note being prepared by Commerce Ministry on joining TIR Convention