New Delhi: Indian exporters have sought priority shipment facilities for local micro, small and medium enterprises (MSME) as transhipment of Bangladesh‘s export cargo to third countries through the Delhi Air Cargo complex is causing delays, inflating freight expenses. The Noida Apparel Export Cluster (NAEC), where 80% of the apparel production and export units are MSMEs, … Read more
In a move to reduce transaction costs and improve ease of doing business, the government on Monday automated the system of giving credibility to the Indian exporters in the international markets. Commerce and industry Piyush Goyal launched a new initiative to issue IT system based automatic ‘Status Holder’ certificates to exporters under the Foreign Trade … Read more
Indian plans to file a complaint to the World Trade Organisation over the European Union‘s proposal to impose 20% to 35% tariffs on imports of high-carbon goods like steel, iron ore and cement from India, top government and industry sources said. This is part of New Delhi’s strategy to combat the EU’s Carbon Border Adjustment … Read more
The Indian industry remains upbeat about exports in FY24 even as it stares at slowdown in demand for textiles, jewellery, engineering goods and chemicals from the US and the EU. Exporters expect a growth of 11-13% in FY24. Cotton textile and apparel exporters expect 8-10% on-year growth in FY24. India clocked $450 billion exports in … Read more
The country’s merchandise exports are likely to cross USD 500 billion this fiscal due to healthy demand for domestic goods in key global markets, including the US, and benefits from trade pacts, according to exporters. They said that other destinations like Russia would give a huge boost to the country’s outbound shipments, particularly in the … Read more
Commerce and Industry Minister Piyush Goyal will meet different export promotion councils on October 7 to discuss ways to promote the growth rate in the country’s outbound shipments, an official said. The meeting assumes significance as India’s exports contracted by 3.52 per cent to USD 32.62 billion in September against USD 33.81 billion in the … Read more
Trade with Russia in rupees will soon start as top lender State Bank of India has agreed to facilitate the new mechanism, the Federation of Indian Export Organisations (FIEO) president A Shaktivel said on Wednesday. India’s exports to Russia took a hit after the West imposed sanctions on Moscow for its late-February military offensive against … Read more
India’s exports growth may slow to 15-17.5% in FY23 but containment of Covid-19 through massive vaccination across the globe and creation of required capacity will be the decisive factors, the country’s top exporters body has said. The Federation of Indian Export Organisations (FIEO) on Thursday said that FY22 is expected to end with merchandise exports … Read more
Whisky, cars, vaccines, basmati rice, wool, and tea pre-mix top a list of 240 odd products the Indian industry has identified for import duty cuts in the United Kingdom under a proposed free trade agreement (FTA) between the two countries. The industry has come up with the list of products for greater market access in … Read more
China replaced the UAE as the second largest export destination for India in fiscal 2021, with outbound shipments to the neighbouring country rising 27.53% to $21.18 billion in the pandemic year. The US remained the country’s top export partner, according to government data, but shipments declined 2.78% to $51.63 billion in a year when India’s … Read more