IT EXPORTS
Robust demand drives auto exports up 19%
Automobile exports from India increased by 19% in 2024, driven by strong demand for two-wheelers, passenger vehicles, and commercial vehicles. Overall shipments reached nearly 51 lakh units, with a notable rise in demand from Latin America and Africa. Passenger vehicle exports saw a 10% growth.
Demand revival in emerging markets aids automobile exports grow 19% in 2024
Automobile exports from India increased by 19% in 2024, driven largely by the strong performance of two-wheelers, passenger vehicles, and commercial vehicles. Two-wheeler exports showed the highest growth at 23%, while passenger vehicle exports grew by 10% and commercial vehicles by 6%.
India's exports to US up 5.57% to $60 billion in April-December FY25
India's exports increased by 5.57% to USD 59.93 billion during April-December due to strong demand in the US market, while imports grew by 1.91% in the same period. Experts predict continued growth in bilateral trade and potential opportunities due to the US-China trade conflict. Concerns remain over possible US tariffs on Indian goods.
Budget 2025: Extending PLI benefits to handicrafts, leather help create more jobs, says Deloitte
India Budget: Deloitte advises the government to extend PLI benefits to job-generating sectors like handicrafts and leather in the upcoming Budget. Successful PLI schemes in electronics and auto should be continued. To boost foreign investment and exports, the government should ease policy restrictions and finalize FTAs with several countries. This will help meet the $1 trillion export target by 2030.
Weaker rupee not one-size-fits-all solution to boost exports: Apex exporters body
A weaker rupee alone cannot boost exports, according to FIEO. Depreciation impacts competitiveness when competitor currencies decline more. It inflates import costs, increases production expenses, and drives domestic inflation, reducing consumer purchasing power. Currency volatility complicates price planning for exporters and raises the cost of servicing external debt.
Indian sugar mills seek higher prices; export contracts remain elusive
Indian traders are finding it difficult to sign export contracts despite New Delhi's approval for exporting 1 million tons of sugar due to high local prices. Mills are demanding a premium over global prices, but overseas buyers are reluctant to pay. As a result, exports have slowed despite a 3.174% uniform export quota for mills.
- Go To Page 1
Shareholders of Gokaldas Exports vote against ESOP resolutions
Although 63% of participating shareholders supported the resolutions, 37% voted against them. As these were special resolutions, they required at least three times more votes in favour than against to pass, which was not achieved.
Shareholders reject key ESOP resolutions at Gokaldas Exports
Shareholders of Gokaldas Exports rejected four special resolutions related to the company's ESOPs. The resolutions included granting stock options exceeding 1% of equity to the managing director. With 63% support, the resolutions did not meet the required threshold. Advisory firm IiAS recommended voting against these resolutions, suggesting broader employee benefits rather than favoring senior management.
India's rice exports defy restrictions, hold steady in 2024
India's rice exports in 2024 remained steady despite earlier export curbs, with high basmati rice shipments compensating for a decline in non-basmati rice sales. The country's total exports reached 17.8 million metric tons, down slightly from the previous year. Demand from Saudi Arabia, Iraq, and the UAE drove a 16.3% increase in basmati rice exports.
India introduces Diamond Imprest Authorization Scheme to boost exports
The Diamond Imprest Authorization (DIA) Scheme, effective April 1, 2025, allows duty-free import of natural cut and polished diamonds under ? Carat for eligible exporters. It mandates a 10% value addition for exports and targets boosting exports and creating jobs in the diamond industry, addressing recent declines.
Budget 2025: FM likely to increase outlay for 2 key tax remission schemes for exporters by 10%
The finance ministry is expected to increase allocations for two key tax remission schemes for exporters¡ªRoDTEP and RoSCTL¡ªby about 10% each in the 2025-26 budget to support exporters amid global economic challenges. Currently, ?16,575 crore is allocated for RoDTEP and ?9,246 crore for RoSCTL.
India-US spark stands defused?
The outgoing Biden administration's Framework for Artificial Intelligence Diffusion categorizes countries based on trust with the US, impacting India's AI industry by imposing restrictions on importing GPUs. This classification may hinder Indian AI companies' global competitiveness and complicate diplomatic relations. The policy highlights the growing intersection of technology and geopolitics.
India seventh largest coffee producer in the world: Government
India has become the seventh-largest coffee producer globally, with exports nearly doubling to $1.29 billion in FY24. Major buyers include Italy, Belgium, and Russia. The Integrated Coffee Development Project is focusing on improving yields and expanding cultivation to strengthen the coffee industry. Domestic consumption rose to 91,000 tonnes in 2023.
Govt allows export of 1 million tons sugar in ongoing 2024-25 season
The Indian government has approved the export of 1 million tonnes of sugar for the 2024-25 season, which will run until September. Food Minister Pralhad Joshi announced the decision on X (formerly Twitter), stating that this move aims to ensure price stability, support five crore farmer families, and benefit five lakh workers in the sugar sector.
Mobile phone makers answer the record $20.4 billion export call
India's mobile phone exports reached a record $20.4 billion in 2024, driven by strong overseas shipments from Apple and Samsung, marking a 44% increase from 2023. Apple's exports accounted for 65% of the total, while Samsung contributed 20%. The production linked incentive (PLI) scheme launched in 2021 significantly boosted exports and job creation in the mobile phone industry.
India targets USD 250 bn of engineering exports by 2030 says commerce secretary
The government's goal of achieving USD 1 trillion in exports by 2030 includes a target of USD 250 billion from the engineering sector, according to Commerce Secretary Sunil Barthwal. He emphasized the importance of infrastructure developments, energy transition, and innovative technologies, encouraging industry players to enhance global competitiveness.
India set to allow 1 million tons of sugar exports this year
India is set to allow exports of 1 million metric tons of sugar in the current season to help mills offload surplus stocks and support local prices. This decision could put downward pressure on global sugar prices.
ET Analysis: India must stay in Quad tent
India is not among the 18 countries exempted from the US's new AI export control framework, unlike other Quad members. This exclusion may be due to India's non-alignment with the Common High Priority List aimed at restricting Russia. India may need a bilateral agreement with the US to gain access to advanced AI technology.
India's gems and jewellery exports decline by 10.29% in Dec 2024 amid economic uncertainty
India's gems and jewellery exports saw a 10.29% decline in December 2024 compared to the previous year due to economic uncertainties and a shift towards gold as a safe-haven investment. The export of Cut & Polished diamonds and gold jewellery also declined, though a ceasefire between Israel and Hamas may boost trade activities soon.
Trump tariff hikes on Chinese goods may hit Indian exporters: Crisil
Trade restrictions planned by incoming US President Donald Trump might lead to aggressive exports by China to Asian markets, including India, creating tough competition for Indian exporters. This could potentially slow India's export growth, while the trade deficit continues to widen with noticeable contractions in key export sectors.
Apparel exports up 11.6 pc in Apr-Dec: AEPC
India's apparel exports surged by 11.6 per cent to USD 11.31 billion during April-December of this fiscal year due to robust growth in markets including the US, UK, and Germany, as reported by AEPC. The positive trend signifies a strategic moment for India to enhance its global market presence and attract foreign investment.
India's trade deficit widens to $22 billion in December
India's trade deficit widened to $21.94 billion in December, with a contraction in exports for the second consecutive month. Imports rose to $59.95 billion. Gold imports saw significant revisions, affecting deficit calculations. Key export sectors faced declines while electronics and garments reported growth. Multiple FTAs are under negotiation.
Indian refiners shift diesel supplies to Africa and Asia
India's diesel exports to Europe have dropped significantly, leading suppliers to shift focus to Africa and Asia. Increased refinery outputs in Europe and the US contributed to the decline. Africa now accounts for the largest share of Indian diesel exports, while overall refined product exports to Europe have decreased, with Asia and the Middle East seeing a rise.
India's electronics exports hit 24-month high at USD 3.58 bn in Dec
India's electronics exports saw a significant increase of 35.11 per cent to USD 3.58 billion in December 2024, the highest in 24 months, highlighting the country's growing electronics manufacturing sector. This growth is fueled by favourable government policies, rising global demand, and expanding domestic production.
Chip industry groups slam expected rules in private letter to Biden
Several semiconductor and manufacturing trade groups have expressed concerns to President Biden in a private letter regarding rushed new export controls on high-bandwidth memory and computing chips that could negatively impact US companies. The regulations, which also affect the sale to China, were developed without industry consultation, potentially harming US market share and revenue.
Departments of commerce, revenue, BCAS formulating SOP for e-commerce export hubs
India's commerce and revenue departments, along with BCAS, are creating a standard procedure to enable e-commerce export hubs. DHL, Lexship, goGlocal, Shiprocket, and Cargo Service Center have received approvals to set up these hubs in major cities. These hubs will facilitate expedited customs, security clearances, and re-import policies, boosting e-commerce export growth.
India said to promote its textiles as political crisis hits Bangladesh's exports
India plans to enhance its textile and garment industry with financial support, reduced tariffs on crucial inputs, and local production incentives in its upcoming budget. The political turmoil in Bangladesh has led global retailers to consider India as an alternative, leading to increased export orders for Indian garment producers. The government may raise textile ministry budget allocation and production-linked incentives.
US announces new restrictions on AI chip exports
In recent years, Washington has expanded its efforts to curb exports of state-of-the-art chips to China, which can be used in AI and weapons systems, as Beijing's tech advancements spark concern among US policymakers. "The US leads the world in AI now -- both AI development and AI chip design -- and it's critical that we keep it that way," Commerce Secretary Gina Raimondo told reporters.
US' new restrictions on AI chip exports aimed at China, Russia: Explained in 10 points
The Biden administration issued sweeping rules on Monday governing how A.I. chips and models can be shared with foreign countries. New rules aim to keep advanced technology out of China and to ensure that cutting-edge artificial intelligence is developed by the United States and its allies. The restrictions are being announced against a global backdrop of soaring demand for AI chips made by the likes of Nvidia, AMD and Intel.
Load More
