Micro enterprises’ share in total exports rises, drops for SMEs

Micro enterprises’ exports grew to 6.63% in January, while small and medium enterprises’ shares decreased. Top MSME export sectors are engineering goods, gems, garments, rice, and chemicals. Various factors affect exports, including freight costs and Western world economic challenges.

With these new initiatives, India has seen a surprising surge in exports of precious metals, minerals, automobiles, electronics, pharmaceuticals, organic chemicals, textiles, spices and defence equipment.

Indian Prime Minister Narendra Modi plans to prioritize finalizing free trade agreements with Britain and Oman in the first 100 days of his potential new term, as per government sources. Talks with both nations are at advanced stages, aiming to boost India’s integration into global trade.

Pakistan’s potential trade resumption with India signals a significant policy shift, aiming to improve economic stability and reduce dependence on China, requiring careful diplomacy and consideration of India’s economic dominance.

India’s rice export prices increased this week due to higher duty on rice shipments, while Thailand’s demand remained low. The government imposed a 20% export duty on parboiled rice exports in August 2023 to control domestic rice prices. The customs department has demanded payment of duty differentials on rice exported in the last 18 months, […]

India’s diesel exports have decreased by 25% year-on-year in the first 11 months of the financial year to $20 billion due to softer international market prices. Despite this, the export volume rose marginally to 26 million metric tonnes from 25.8 million metric tonnes. Petrol exports also declined, fetching $10 billion, a 13% decrease compared to […]

The clarification from Pakistan’s Foreign Office comes days after the new Foreign Minister Ishaq Dar said in London that Pakistan will seriously consider restoring trade ties with India that have remained suspended since August 2019.

Australia has requested details from India regarding its fisheries programs, including policy objectives, budget expenditures, and coverage, during a meeting at the World Trade Organization (WTO). Australia also inquired about performance requirements and whether the Pradhan Mantri Matsya Sampada Yojana (PMMSY) includes objectives related to harnessing tuna resources in India’s exclusive economic zone (EEZ) and […]

According to industry estimates, Indian carmakers are set to ship more than 675,000 vehicles in the fiscal year that ends March 31, recovering from a low of 404,000 reported in the aftermath of the pandemic in FY21. Around 663,000 cars were exported from the country in the last financial year. Vehicle exports were dominated by […]

Commerce ministry’s SCOMET policy allows bulk licences for telecommunication and info security items. DGFT outlines the detailed application procedure, including online submission through SCOMET portal with specified information and technologies.