India’s exports of goods and services are expected to surpass USD 814 billion in 2024, a 5.58 per cent increase from 2023. While machinery and electronics exports are growing, traditional sectors such as textiles and garments are declining, highlighting both opportunities and challenges amid sluggish global trade and geopolitical tensions.
India’s goods, services exports likely to cross USD 800 bn in 2024: GTRI
Initiating a trade war with India is not beneficial for the US as previous policy shifts under the Trump administration showed temporary setbacks followed by recovery. India’s trade surplus with the US declined initially but later resumed growth due to resilient and strategic responses from India.
The government has extended the minimum export price (MEP) of $2,000 per tonne on natural honey until December 31, 2025. This measure, originally imposed in March 2023, applies to exports below this value, with major destinations being the US and UAE.
India has begun a countervailing duty investigation on increased imports of Calcium Carbonate Filler Masterbatch from Vietnam, following a complaint by domestic manufacturers. The probe aims to determine the impact of subsidized imports and may result in duties to protect Indian industries.
India’s exports to Australia have increased by 14% since signing the ECTA, with substantial growth in textiles, chemicals, and agriculture. Bilateral merchandise trade doubled to $26 billion in FY23. The current momentum reflects strong trade values bolstered by essential raw materials and expanded market access for Indian exporters.
India’s exports to Australia see a 14% growth due to the ECTA, with significant increases in textiles, chemicals, and agriculture. Bilateral trade continues strong, reaching $16.3 billion in April-November 2024. Enhanced market access benefits Indian MSMEs and farmers, promoting a target of AUD 100 billion trade by 2030.
India’s exports to Australia surged by 64.4% year-on-year in November, driven by growth in textiles, chemicals, and agricultural products. Despite a 5.21% decline in overall merchandise exports, the Economic Cooperation and Trade Agreement (ECTA) has expanded market access and employment opportunities, enabling India to aim for AUD 100 billion trade by 2030.
A high-level Indian delegation visited South Korea to promote India’s maritime growth and seek collaborations with Korean shipbuilders. India aims to attract foreign partners to enhance its shipbuilding ecosystem as it lags far behind global leaders like China, South Korea, and Japan. The government is addressing challenges by introducing bills and pooling ship requirements to […]
Gradual recovery in developed markets, focus on key products boost export prospects for 2025
2 years ago
India’s export sector is poised for growth in high-value areas like machinery and electronics despite global uncertainties. The commerce ministry is formulating strategies to boost exports, with a focus on 20 key countries. Additionally, a potential shift in US trade policies under Donald Trump could present new opportunities and challenges.
India’s Directorate General of Trade Remedies initiates probes into alleged dumping of nylon filament yarn from China and Vietnam, and TDQ from China. Century Enka, Gujarat Polyfilms, and Oriilon India, alongside NOCIL Ltd, filed applications. If dumping is confirmed, anti-dumping duties will be recommended to protect domestic industries.