Senior commerce ministry officials and Indian Mission representatives from 20 countries concluded a three-day meeting to boost exports. They focused on country-specific opportunities, trade challenges, and strategies for six key sectors in leading markets, including the US and EU. Services exports reached an all-time high of USD 34.31 billion.
Commerce ministry, Indian mission officials of 20 nations discuss ways to boost exports
Gold and silver import figures for April-November FY25 were revised significantly, with gold imports adjusted downward by $5 billion to $9.84 billion for November. This reduced the trade deficit and eased pressure on the rupee. The corrected gold import total for the period is $37.38 billion, down from the earlier $49.08 billion estimate.
India corrected its November gold import estimates, cutting them by $5 billion due to calculation errors. The revised imports stand at $9.84 billion, reducing the previously calculated trade deficit. Despite the correction, overall gold imports in 2024 have already surpassed those in 2023. India remains a key gold consumer, relying heavily on imports.
India and Malaysia committed to enhancing cooperation in counter-terrorism, cyber security, defence, and maritime security. They agreed to institutionalise annual security dialogues, building on discussions initiated during Malaysian Prime Minister Ibrahim’s visit to India in August 2024, which elevated bilateral ties to a Comprehensive Strategic Partnership.
Exporters and freight agencies expressed concerns over high terminal handling charges at ports and low usage of dry ports, which contribute to logistics costs. They discussed these issues with commerce and industry minister Piyush Goyal. India is aiming for $800 billion in goods and services exports by fiscal 2025, up from $778 billion in the […]
Cypermethrin, an insecticide used in agriculture and sanitation, controls pests on crops such as cotton, vegetables, corn, and flowers, according to the ministry.
The Indian government has mandated certification under the National Programme for Organic Production (NPOP) for the export of organic products to ensure adherence to specific standards. With a target of USD 2 billion in exports by 2030, standards ensure product authenticity and quality, promoting exports to various global markets.
The government will not ask laptop makers to cut down imports immediately. It expects local production to grow, with HP and Dell boosting output from the next fiscal year. A new financial incentive plan is being finalised to attract chip makers. The target is to improve the competitiveness of India-made products without disrupting current supplies.
Senior officials from the commerce ministry and Indian Missions of 20 countries will hold a three-day meet to discuss ways to promote exports of goods and services. Commerce Minister Piyush Goyal will engage with commercial representatives on January 6. The discussions will focus on opportunities, challenges, and strategy for six key product categories to 20 […]
The government has approved the export of 2 lakh tonnes of wheat to Nepal via National Cooperative Exports Limited (NCEL), despite a general wheat export ban. Separately, the DGFT exempted advance authorization holders, EOUs, and SEZs from the $3.5/kg minimum import price (MIP) condition on synthetic knitted fabric imports to support production and trade.