Trade Exports

India's merchandise exports growth may slow to 4.2% in Q2: Exim Bank

Merchandise exports are projected to increase to $111.7 billion in Q2 against $109.9 billion recorded in Q1

Centre to come up with a single trade body to promote exports: Report

Last month, the Centre unveiled its new foreign trade policy (FTP 2023) setting a target of achieving $2 trillion in exports by 2030

Goods, services exports to cross $760 bn in FY23:, says Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Tuesday said the country's merchandise and services exports are estimated to cross USD 760 billion in the current fiscal ending March 31. Exports grew to USD 676 billion in 2021-22 from USD 500 billion. Speaking at the annual session of Assocham here, Goyal said that at a time when the whole world is facing recession, high inflation and elevated interest rates, India is performing well. Goyal stressed that over the last 9 years, the focus of the Modi-government has been on building the foundation blocks which are necessary for an economy to have many years of uninterrupted and sustainable growth. Various steps being take by the government are making India more cost competitive, be it the huge investment in infrastructure coupled with logistics, technological advancement, or the PM GatiShakti, he said. He also said the performance of India's global trade has proved the naysayers wrong. "I can say with great pride, happiness, and thank

China's biggest export hub struggles to stay afloat amid uncertainties

Located 50 km from Shanghai, Kunshan used to boast up to 30 per cent higher wages than other provinces, but now the companies there are cutting back their production amid the slowing economy of China

Samsung eyes expansion, planning to make India smartphone manufacturing hub

The South Korean electronics major plans to invest in setting up smart manufacturing capabilities at its second-largest mobile phone plant in Noida

South Korean exports to Japan expected to rise if ties normalise: Report

South Korean exports to Japan will rise 3.5 trillion won ($2.69 billion) this year if Seoul's export structure to Tokyo returns to the status it had in the 2017-2018 period

'Importers should ensure that certificate of origin is genuine'

Business Standard brings you the fortnightly Q&A on SMEs

Delhi airport becomes transshipment hub for export cargo from Bangladesh

Delhi airport is now a transshipment hub for export cargo from Bangladesh to other countries and the first batch of transhipment cargo will leave for Spain on Sunday. The airport's operator DIAL said the cargo transshipment via Delhi will cost manufacturers and suppliers significantly less as compared to other routes. On February 7, DIAL received the government's approval for the airport to serve as a cargo transshipment hub between Bangladesh and other global destinations for export cargo. The first batch of cargo, which left Dhaka on February 26 arrived at Delhi airport on Friday and will leave for its destined location in Spain on March 5, DIAL said in a release. The transshipment cargo will reach from Dhaka to Delhi, via the Bangladesh-India border at Benapole-Petrapol. "Once the cargo leaves the Petrapol border after all security checks, the manufacturers will be able to track their shipment throughout its journey, including its arrival at the Delhi airport, during security .

Rajasthan is aiming to become a major exporting state: REPC Official

Rajasthan is aiming to become a major exporting state in the coming years, an official of the Rajasthan Export Promotion Council (REPC) has said. The state had exported goods worth Rs 72,000 crore in 2021-22, out of which 11 per cent were handicraft items, REPC Chairman Rajiv Arora said. "The current fiscal is very turbulent due to geopolitics for which freight costs have risen exorbitantly. But we are expecting that exports from the state in 2022-23 will be around Rs 82,000 crore," Arora said. In its first international EXPO at Jodhpur on March 20-22, the REPC will showcase the state's products like handicrafts, textiles, garments, agricultural products, spices, stone and marble ware, he said here on Wednesday. The state is laying focus on the MSME sector, Arora said adding that the government has decided to give interest subvention for projects up to Rs 50 crore. The state government has also stated in its industrial policy that incentives will be given for asset creation. Besid

Luxury carpet brand Obeetee eyes Rs 1,000 crore turnover in FY24

While Obeetee operates at the high-end, Chatterjee believes that there will be opportunities for players across the segments

Exports dip by 6.58% in Jan; trade deficit lowest in 12-months at $17.75 bn

Contracting for the second month in a row, India's exports dipped by 6.58 per cent to USD 32.91 billion in January due to slowdown in global demand, even as the trade deficit touched a 12-month low of USD 17.75 billion during the month, according to official data released on Wednesday. Imports in January too contracted by 3.63 per cent, the second consecutive month, to USD 50.66 billion. Cumulatively, however, during April-January 2022-23, the country's merchandise exports rose 8.51 per cent to USD 369.25 billion, while imports increased 21.89 per cent to USD 602.20 billion, the data showed. The merchandise trade deficit for the April-January this fiscal stood at about USD 233 billion. The country's exports had contracted by 12.2 per cent to USD 34.48 billion in December 2022. Last time, it was in January 2022, when the trade deficit touched USD 17.42 billion. Export sectors that recorded negative growth during the 10-months period of this fiscal include engineering goods, iron o

India's merchandise trade deficit in January down at $17.75 billion

January merchandise exports were $32.91 billion compared with $34.48 billion in December, while imports were at $50.66 billion against $58.24 billion in December, according to government data

IFSCA lays foundation to strengthen ship financing, leasing in India

In a bid to boost maritime trade, International Financial Services Centres Authority is taking steps to strengthen ship acquisition, financing and leasing in India, a senior official said on Friday. IFSCA, a statutory authority with a mandate to develop and regulate financial products, services and institutions in the International Financial Services Centres, has constituted a committee on the development of avenues for ship acquisition, financing and leasing activities from IFSC in India, she said. "We have identified legal and regulatory provisions which are conflicting with each other in laws and have a bearing on different types of ship financing," IFSCA Committee on Ship Acquisition chairperson Vandana Aggarwal told PTI. With the changes, ship financing is expected to witness a similar boom as seen in aviation financing, she said. The committee has already submitted its report and the implementation of the recommendations is a work in progress, a senior official said. Around

2023 to be tough on trade as global economies will slow down: GTRI to Govt

Announcement of measures like quick refund of duties, resolving inverted duty issues and bringing exports through post and courier at par with standard customs clearances in the forthcoming Budget

Exports slide 12% on recession fears; trade deficit widens to $23.76 bn

Imports last month also contracted 3.46 per cent to $58.24 billion, amid falling commodity prices

India-China trade at $135.98 bn in 2022. Trade deficit crosses $100 bn mark

This is the first time the trade deficit has crossed the $100 billion mark

Sah Polymers shares settle over 37% higher in debut trade: Report

Shares of Sah Polymers on Thursday ended with a premium of over 37 per cent on the stock exchanges against the issue price of Rs 65. The stock made its debut at Rs 85, reflecting a jump of 30.76 per cent from the issue price on the BSE. Later, it rallied 37.30 per cent to settle at Rs 89.25 apiece. On the NSE, the shares began the trade at Rs 85 and finally ended at Rs 89.25 each. In volume terms, 4.16 lakh shares of the firm were traded on the BSE and 41.82 lakh shares on the NSE during the day. The Udaipur-based company provides tailored bulk packaging solutions to business-to-business producers in a variety of industries, including agro pesticides, basic drugs, cement, chemicals, fertilisers, food products, textiles, ceramics, and steel. Meanwhile, in the broader market, the 30-share BSE benchmark ended 147.47 points or 0.25 per cent lower at 59,958.03. The initial public offer of Sah Polymers was subscribed 17.46 times last week. The initial share-sale had a price range for

India eyes overseas copper, lithium mines to meet domestic shortfall

To start with, India has identified one copper and two lithium mines in resource-rich Argentina to either acquire or secure long-term leases, the sources said

Canada's merchandise exports declined 2.3% in November 2022: Reports

Canada's merchandise exports decreased 2.3 per cent in November 2022, in large part because of a decline in exports of energy products, according to official figures

November exports to key markets bounce back after October dip

Exports had recovered in November to grow at 0.59 per cent from a 12 per cent contraction in October