Exports grow for 3rd month in a row, trade deficit rises

India’s exports grew for the third straight month, rising 2.6% to $35.2 billion, while imports increased 5% $56.2 billion. As a result, trade deficit rose to $21 billion, compared with $19.2 billion a year ago. The engineering goods, whose exports rose over 10% to $9.4 billion in June and electronics (16.9% to $2.8 billion), were […]

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Cabinet clears Rs 76,220-crores mega sea port on west coast

The project cost includes the cost of land, development for core infrastructure, terminals and other commercial infrastructure in the public-private-partnerships mode. The Union Cabinet approved the development of a Rs. 76,220-crore all-weather greenfield deep draft major port at Vadhavan in Maharashtra, which, on completion, will be among the top 10 ports of the world. The […]

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New EU rules seen to restrict exports of textiles & footwears

The European Union’s new eco design regulation, setting stringent sustainability requirements for all products in the bloc, is expected to hit Indian exporters, particularly smaller businesses, as it bans the destruction of unsold textiles and footwear, which could limit orders. The guidelines issued a few weeks ago has mandated product durability, reusability and energy efficiency, and is in line […]

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UK overtakes China as India’s fourth-largest export market in May

The United Kingdom (UK) has overtaken China to become India’s fourth-largest export market in May. The UK was India’s sixth-largest export destination in May last year. While exports to the UK grew by a third to $1.37 billion in May, the shipments to China saw 3 per cent growth at $1.33 billion last month. The […]

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DGFT wants interest equalization scheme for exporters to continue

In a move set to bring relief to exporters, the Directorate General of Foreign Trade (DGFT) has concluded that there is merit in continuing the interest equalisation scheme for the export sector and is in discussions with the Finance Ministry on the terms of its extension beyond the month-end. The scheme, which allows exporters of […]

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Goods exports increase 9%, imports 8% in May

Goods exports rose 9% to $38 billion in May, while imports were 7.7% higher at nearly $62 billion, pushing up India’s trade deficit to $23.8 billion, highest in seven months. Exports growth has been uneven and the latest numbers pegged the growth at the highest in three months, with Govt hopeful of the trend continuing & feels that this positive trend will continue. The […]

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Government Efforts Boost Toy Manufacturing and Exports; Further Steps Needed: DPIIT Secretary

The Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), Rajesh Kumar Singh, highlighted that government measures such as mandatory quality control orders and increased customs duties have significantly boosted toy exports from India. However, he noted that additional efforts are required to further develop the sector. Singh mentioned that they are […]

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India’s export reliance on US grows despite diversification push

The share of the US in India’s total exports continuously declined from a high of 21.7 per cent in 1998-99 to a low of 10.1 per cent in 2010-11. Notwithstanding India’s efforts to diversify its merchandise exports, the country’s dependence on the US for its outbound shipments has increased over the past 13 years by […]

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Exports may grow 10-15% to $900bn in FY25

Despite headwinds, Indian exporters are looking at a 10-15% increase in goods exports, with some estimating overall exports to touch $900 billion this year, compared with around $780 billion during the last financial year. The goods exports will also bolster industrial production and overall economic activity as well as the demand for technology-driven products and […]

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