In New Delhi, on Thursday, FIEO President Ashwini Kumar projects India’s merchandise exports to reach USD 500-510 billion by 2024-25, with services exports expected to be around USD 390-400 billion this fiscal, driven by traditional markets like the US and Europe.
Exports may rise 12-15 pc to cross USD 500 bn this fiscal: FIEO
Exports up 1% in April, yet trade gap widens
1 year ago
India’s goods exports grew 1.06% to $34.99 billion in April, with a trade deficit of $19.1 billion fueled by increased gold imports. Switzerland replaced Russia as a key import source. Challenges include rising petroleum imports and ongoing FTA discussions with the UK.
The US warns of potential sanctions on dealings with Iran after India signs a 10-year contract on Chabahar Port. External Affairs Minister S Jaishankar stresses the project’s regional benefits, citing past US acknowledgment. India Ports Global Ltd has operated in Chabahar since 2018 under a sanctions waiver. Despite US warnings, India aims to avoid involving […]
Financial Services Secretary Vivek Joshi emphasized the importance of increasing Free Trade Agreements (FTAs) to boost India’s financial services exports during a workshop on financial services in FTAs. The event, jointly organized by the Department of Financial Services (DFS) and Exim Bank, aimed to explore the role of financial services in FTAs and their impact […]
India plans to establish an SOP for negotiating FTAs, addressing labor, environment, gender, and indigenous peoples. The Chintan Shivir will discuss strategies for FTAs, including the Carbon Border Adjustment Mechanism and critical minerals.
India has implemented measures to prevent the contamination of spices exported from the country with EtO (ethylene oxide), a carcinogenic chemical, following reports of recall of products from Indian spice brands in Singapore and Hong Kong. The Spices Board has mandated testing of spice consignments destined for these regions and conducted a root cause analysis, […]
India’s palm oil imports rose 34.11% to 6,84,000 tonnes in April, led by lower global prices. Vegetable oil imports, including RBD palmolein and CPO, surged. Soybean and sunflower oil prices also fell, driving higher imports.
Export orders up 10% in EU, West Asia, US driven by leather goods, footwear, apparel demand in India. Challenges for engineering goods due to geopolitical tensions. Increase in apparel orders from UK and demand for non-leather footwear. Positive impact of trade pacts with Australia and Mauritius. Market recalibration after inventory decline, logistics issues, and geopolitical […]
GTRI warns of China dumping in India due to US tariffs. India can gain from higher duties on medical items. Trade with China surpasses that with the US. GTRI advises vigilance by Indian trade authorities, ramping up production for US market exports.
The US on Tuesday reignited the trade war with China by announcing a series of proposed tariff increases on imports including electric vehicles (EVs), batteries, and various other goods.