Shipments of banana, ghee, furniture, office stationery and solar photovoltaic modules growing rapidly in new markets

India is diversifying its export basket, focusing on products like banana, ghee, solar PV modules, and alcoholic beverages. The goal is to increase the global share of these products, targeting markets such as the US, EU, China, Japan, and more. Export revenues are expected to surge due to government incentives and global demand.

India aims to surpass $1 billion in organic product exports by next year, with significant growth in the last decade. The country is working on MRAs for delicate exports like fisheries. Tobacco exports are projected to grow 8% to over Rs 13,000 crore this year, maintaining controlled production.

India’s tobacco exports are set to grow by over 8 per cent and exceed Rs 13,000 crore this year. The Tobacco Board supports farmers through various measures to enhance income and production quality. India’s production is regulated to meet domestic and export demands, ensuring stability for the tobacco industry.

India should seek comprehensive engagement with the incoming Trump administration to address issues in trade, investment, technology, and finance. A focus on maintaining supply lines and diversifying markets is vital, particularly for sectors like pharmaceuticals, jewellery, and services. Leveraging opportunities from US tariff actions is crucial.

APEDA has updated the National Programme for Organic Production regulations. The changes aim to make it easier for farmers and boost India’s organic food exports to USD 2 billion by 2030. New features include clearer certification processes and better transparency. India’s organic exports have been growing, with main markets in the USA, Europe, and Asia.

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.

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.