The government is evaluating ways to enhance export competitiveness by examining the export credit landscape. Seeking insights from exporters, it aims to address challenges and improve access to financial resources crucial for international trade. With a focus on reducing the cost of export credit, officials are studying best practices from other countries. This initiative comes […]
Export credit access may become easier amid geopolitical tensions
Goldman Sachs predicts that India’s services exports will rise to $800 billion by 2030, up from $340 billion in 2023. This growth is expected to make India’s external sector more resilient to supply-side shocks and reduce rupee volatility. The country’s foreign trade policy aims to achieve $1 trillion in service exports by 2030. The report […]
FIEO warns of geopolitical tension impact on 2024-25 exports due to global demand. Outbound shipments fell by 3.11% in 2023-24, imports over 8% to USD 677.24 billion. Key factors include freight rates, inflation, and interest rates.
China’s share in India’s industrial goods imports jump to 30% from 21% in last 15 years: GTRI
12 months ago
India’s reliance on Chinese industrial products like telecom, machinery, and electronics has increased in the last 15 years. China’s share in India’s imports imports of these goods has surged from 21 percent to 30 percent. Beyond economic concerns, the rise raises concerns about potential impacts on national security, broadening the scope of the issue beyond […]
Govt allows onion export to Bangladesh, UAE, Sri Lanka & 3 more countries amidst domestic supply worries
12 months ago
The Indian government has authorized the export of 99,150 metric tons of onions to Bangladesh, UAE, Bhutan, Bahrain, Mauritius, and Sri Lanka. This decision stems from lower estimated Kharif and Rabi crops in 2023-24 compared to the previous year, along with heightened international demand. The National Cooperative Exports Limited (NCEL) will oversee onion exports, sourcing […]
India and Oman have annual trade of less than $13 billion, but the relationship is important for New Delhi as the Gulf nation is a gateway to the narrow Strait of Hormuz between Oman and Iran, a major transit point for global oil shipments.
An Adani project will put India on global maritime map
12 months ago
India’s ambition to be a manufacturing powerhouse got a boost with Adani Group’s Vizhinjam Port in Kerala getting approval to operate as India’s first transshipment port. The port’s strategic location between the Suez Canal and the Strait of Malacca will enhance India’s global sea trade presence, attracting ultra-large container vessels and boosting container traffic.
In a submission to the WTO last week, India said that stringent MRLs can be trade-restrictive and act as non-tariff barriers to international trade, disproportionately affecting exporters from developing countries.
Adani Group’s Vizhinjam Port gets ministry nod to run India’s first transshipment operations
12 months ago
Adani Group’s Vizhinjam Port in Kerala has received approval to operate as India’s first transshipment port, facilitating the transfer of cargo between ships. The shipping ministry’s nod allows customs to establish an office at the port. The project, started in 2015, aims to tap into India’s transshipment cargo, which is currently handled by foreign ports […]
Despite global economic uncertainties, India’s services exports surged by 11.4% to $345 billion in 2023, outpacing China, whose shipments from the sector shrank by 10.1% to $381 billion, as per a UNCTAD report. Key sectors driving India’s growth include travel, transport, medical, and hospitality services. The world’s services exports, exceeding $7.9 trillion in 2023 with […]