MERCHANDISE EXPORTS
The lesser-known tale of India's trade with two giants: US and China
India's trade with the US and China reached nearly $120 billion each in fiscal 2024. Trade with the US yielded a $35.3 billion surplus. Trade with China resulted in an $85.1 billion deficit. Exports to the US diversified, while exports to China stagnated. India aims to boost domestic manufacturing and reduce import reliance.
Policy decision of Trump administration to play crucial role in shaping global trade dynamics: Report
India's economy shows resilience amidst global uncertainties. Favorable monsoons boost agriculture, while services trade remains strong. However, weakening global demand and geopolitical tensions, including the Russia-Ukraine conflict, pose challenges to export growth and financial markets.
RBI purchases $9.6 billion in September to curb rupee's appreciation amid Fed rate cut buzz
The Reserve Bank of India (RBI) purchased a significant $9.6 billion in September to curb the rupee's appreciation amid strong foreign investment inflows. This intervention, aimed at managing volatility, has led to the rupee being overvalued compared to its trading partners, potentially impacting export competitiveness despite recent export growth.
India's services sector may outpace merchandise exports by 2030, touch USD 618 billion: GTRI
India's services exports are on track to surpass merchandise exports by 2030, reaching USD 618 billion. Driven by software, IT, and Other Business Services (OBS), this shift highlights India's emergence as a global services powerhouse. However, diversifying IT exports beyond the US and promoting OBS sectors are crucial for sustained growth.
India¡¯s services exports to outpace goods by FY30, cut US tech giants¡¯ dominance for growth: GTRI
India's services exports are predicted to surpass merchandise exports, reaching $618.21 billion by FY30, according to a report by GTRI. This growth will be driven by IT and other business services (OBS). However, the report emphasizes the need for diversifying IT exports beyond the US and regulating the dominance of American tech giants to ensure sustained growth.
Services tax surplus and robust remittances may help India in overcoming tariff hikes by US: CRISIL
India's exports faced challenges, but a late surge brought hope. October saw significant growth, driven by sectors like engineering and gems. However, competition from China and a widening trade deficit raised concerns. Despite this, India's strong services trade and remittances are expected to keep the economy stable.
Rupee rises 8 paise to 84.38 against US dollar in early trade
The Indian rupee saw a slight recovery against the US dollar, appreciating to 84.38 despite a strong dollar and foreign fund outflow. Lower crude oil prices aided the rupee's rise, while rising inflation and a surge in US Treasury yields posed challenges. India's merchandise exports surged, but the trade deficit widened, and forex reserves declined.
Christmas orders push October goods exports to a 2-year high of 17.3%
India's merchandise exports experienced significant growth in October. Exports reached $39.2 billion, marking a 17.3% increase. This surge was driven by strong demand from developed markets and increased shipments of various goods. Imports also rose to a record $66.34 billion. The trade deficit widened to $27.1 billion. Despite global economic challenges, India's exports performed well.
India-US trade relations continue to grow irrespective of change in regime
India's trade relationship with the US is expected to remain strong despite the recent change in US leadership. Bilateral trade between the two nations has shown significant growth, with India's exports to the US increasing substantially. While experts suggest potential challenges depending on the new administration's trade policies, both countries continue to benefit from strong economic ties across various sectors.
Exim Bank sees merchandise, non-oil, jewellery exports rising in third quarter
The growth in exports is attributed to factors like India¡¯s continued strong economic activity due to sustained momentum in the manufacturing and services sectors.
Q3 goods exports seen growing 1.85% on-yr: EXIM Bank
India's merchandise exports will grow to $107.5 billion in the third quarter of FY25. Non-oil exports will see a significant rise. The growth is driven by strong economic activity and improving demand from trading partners. Exim Bank predicts this growth to continue in the last quarter. However, global economic uncertainties and geopolitical factors pose risks to the outlook.
Why addressing the challenges on E-Commerce Export Hubs is crucial to its success
This initiative was introduced in response to the various challenges faced by Indian MSMEs, including intense competition from other Asian nations.
India's goods, services exports to cross USD 800 bn this fiscal: Sakthivel
India's merchandise and service exports are predicted to exceed USD 800 billion this fiscal year, driven by government support and competitive products. Government initiatives like new industrial cities and the production-linked incentive scheme are boosting domestic manufacturing. Despite geopolitical challenges, Indian exporters are securing orders globally, with the government actively mitigating issues like the Red Sea crisis.
India and China drive shift from G7 to BRICS in global trade dynamics: EY report
India and China are reshaping the global economy, shifting focus from G7 nations to the BRICS alliance. The BRICS+ group's share in global exports has more than doubled since 2000, challenging G7 dominance. High-tech exports from BRICS+ nations are also on the rise. This shift indicates a potential overtaking of the G7's share in global trade by BRICS+ by 2026.
BRICS+ group's share in global goods exports can overtake G7 by 2026: EY India
BRICS+ group, which includes countries like Brazil, Russia, India, China, South Africa and newly joined members, is rapidly increasing its share in global merchandise exports and imports. EY India predicts that BRICS+ is expected to overshadow the G7 nations in global exports by 2026 due to current trends and new members potentially joining the group.
India's trade deficit for September narrows to $20.78 bn
India's merchandise exports grew marginally in September after two months of decline, driven by engineering, chemical, and electronic goods. Despite global uncertainties, exports increased, with a slight rise in goods imports and a marginally widened trade deficit. Discussions for FTAs with the UK and EU continue.
WTO revises up 2024 goods trade growth forecast to 2.7% despite higher policy uncertainty
The WTO slightly increased its 2024 global trade growth forecast to 2.7%. India's exports are growing, showing its emerging role as a key economy. The WTO also warns about the impact of geopolitical tensions, notably in West Asia, on energy prices and shipping disruptions, which could affect global trade.
US East, Gulf Coast dockworkers' strike may impact India's exports to America
Indian exporters are alarmed by the US East Coast and Gulf Coast dockworkers' strike. Delays and higher costs are anticipated as shipments may need rerouting to less congested ports. This disruption comes amid a global economic slowdown, heightening concerns for timely exports to the US, India's top trading partner.
US India's top trade partner in first half of the year; max deficit with China
The United States emerged as India's leading trading partner in early 2024, although the country experienced a record trade deficit of $41.6 billion with China. India's merchandise exports increased by 5.41%, led by sectors such as iron ore and pharmaceuticals, while services exports grew by 6.9% to $178.2 billion, says GTRI.
Load More
