New Delhi: India and Vietnam are gaining the most from the China plus one strategy, which is also expected to unlock new growth opportunities for Asian economies, according to Nomura. India’s exports will likely surge to $835 billion by 2030 from $431 billion in 2023 with its large domestic market helping attract firms looking for … Read more
Like with the last episode of Business Matters, this one too was triggered by a headline I saw in an article: “India fears losing out to China in smartphone exports race”. This Reuters piece cited IT Minister of State Rajeev Chandrasekhar’s letter dated January 3 to Finance Minister Nirmala Sitharaman expressing fears that India’s high … Read more
New Delhi: India is drawing up a list of market access and non-tariff barriers(NTBs) hurting its goods and services exports and would take them up with the respective trade partners as it seeks to give a fillip to outbound shipments. The commerce department has begun the exercise with barriers such as registration requirements, higher pesticide … Read more
New Delhi: India’s merchandise exports rose 6.21% year-on-year to $33.57 billion in October, while the trade deficit swelled to a record as imports surged, buoyed by strong consumer spending ahead of the festival season. Gold imports almost doubled. The gap between exports and imports widened to $31.46 billion on the back of a jump in … Read more
New Delhi: The government is considering imposing a 25% duty on exports of molasses – a by-product of sugarcane and key ingredient for ethanol productions – as it expects a decline in sugar production in the upcoming season, senior officials said. The curbs on exports are expected to boost the availability of molasses for domestic … Read more
Mumbai: India has emerged as one of the winners in global manufacturing over the past five years, with its exports to the US surging by $23 billion, a 44% increase from 2018 to 2022, while China experienced a 10% decline in exports to the US during this period, according to a BCG study on global … Read more
New Delhi: India’s goods and services exports are expected to cross USD 750 billion this fiscal despite the global economic uncertainties, Commerce and Industry Minister Piyush Goyal said on Saturday. In 2021-22, the country’s goods and services exports touched an all-time high of USD 422 billion and USD 254 billion respectively, taking the total shipments … Read more
New Delhi: Indian traders are keeping a close watch on the Covid-19 surge in China as that could disrupt supply of critical imports including active pharmaceutical ingredients (API), electronics, chemicals, and plastics. Exports, which have been sluggish, could also take a hit as demand from China may plunge, adding to weakness in many developed markets, … Read more
New Delhi: The country’s wheat exports more than doubled to USD 1.48 billion during April-September 2022-23 as compared to the year-ago period, the commerce ministry said on Wednesday. The exports stood at USD 630 million in the year-ago period. Though the government banned wheat exports in May, some shipments are allowed to meet food security … Read more
India has set up a target of USD 500 billion exports for the 2022-23 fiscal, a top government official said on Friday, contending that the COVID-19 pandemic has taught the country to “reimagine” world trade. In December 2021, exports stood at USD 37.8 billion, the highest-ever for any month, Additional DGFT Amiya Chandra said during … Read more