Exports

April 15, 2025 5:30 PM

India’s exports hit record $820.93 billion in FY25 amid global headwinds

India's total exports of goods and services rose by 5.5% to a record $820.93 billion in the financial year ending March 31, compared to $773 billion in the previous year, according to Commerce Secretary Sunil Barthwal. This growth comes despite global economic uncertainties and trade tensions. Merchandise exports stood at $437.4 billion, while non-petroleum exports registered a 6% year-on-year increase, reaching $374.08 billion in FY25. However, India's trade deficit widened to $21.5...

April 3, 2025 2:20 PM

India gains competitive edge amid US tariffs on electronics

India has emerged as a key beneficiary in the first round of reciprocal US tariff announcements, positioning itself ahead of major electronics-exporting nations like China, Vietnam, Thailand, and Indonesia, according to industry experts. The development follows sustained diplomatic efforts by Indian negotiators and leadership. With China facing combined tariffs of up to 54-79% and Vietnam at 44%, India's relatively better tariff positioning presents a valuable window to expand its electronics e...

March 17, 2025 11:55 AM

Impact of US tariffs on India minimal as country diversifies exports: SBI report

The impact of US trade reciprocal tariffs on India will be minimal as the country has diversified its exports, pitched value addition, exploring alternate areas and works on new routes that transcend from Europe to the US via the Middle East, redrawing new supply chain algorithms, a new SBI Research report said on Monday. The decline in the exports is expected to be in the range of 3-3.5 per cent, which again should be negated through higher export goals across both manufacturing and services f...

March 14, 2025 1:56 PM

India to cross $800 billion in exports this year, with major share from services: Piyush Goyal

India is on track to surpass $800 billion in exports this year, with a significant portion coming from services exports, Union Minister of Commerce and Industry Piyush Goyal has reiterated. Addressing the Export Promotion Councils (EPCs) and industry associations on Thursday, the minister assured that the government is working tirelessly and will leave no stone unturned to secure a promising future for Indian exporters, both in merchandise and services, while protecting national interests. Goy...

March 4, 2025 3:53 PM

PM Modi assures policy consistency and reforms to drive inclusive growth

Prime Minister Narendra Modi, addressing post-budget webinars via video conferencing on Tuesday, reaffirmed the government’s commitment to stable policies and continuous reforms to boost India's manufacturing, exports, and MSME sectors. The webinars, focused on themes such as MSMEs as engines of growth, manufacturing and exports, and regulatory and investment reforms, aimed at shaping post-budget strategies. "Today, the country has been witnessing an unprecedented consistency in government po...

January 3, 2025 12:26 PM

Oman resumes copper exports after three-decade pause with historic shipment from Lasail mine

In a major development for Oman's mining sector, the sultanate has recommenced copper exports after a 30-year break with its first shipment of 900 tonnes of copper concentrates from the Lasail mine in Sohar. The project, overseen by Minerals Development Oman marks a crucial step in the nation's economic diversification efforts. The milestone carries particular historical weight, as the region boasts a 3,000-year legacy of copper mining, including operations by the Oman Mining Company since 198...

September 30, 2024 2:35 PM

Why India’s easing of export curbs is important to global rice trade

India has removed most of the export curbs it imposed on rice shipments in 2023 with immediate effect, as above-average monsoon rains are expected to boost crop yields amid overflowing stocks in state granaries. Here are some facts explaining India's importance to the global rice trade: * India accounted for more than 40% of the world's rice exports in 2022, a record 22.2 million metric tons out of a total of 55.4 million. * India's exports were bigger than the combined shipments of the world...

September 24, 2024 4:58 PM

Basmati rice exports seen surging after floor price removed

India's decision to remove the floor price for basmati rice exports is expected to spur a flurry of orders from the Middle East, Europe, and the Americas, leading exporters said, helping New Delhi to increase its share of the global market. The world's biggest rice exporter earlier this month removed a floor price of $950 a metric ton for basmati rice, weeks ahead of the arrival of the new season crop. The minimum export price (MEP) posed a barrier to exporting certain basmati rice grades, and...

May 17, 2024 9:15 PM

India’s exports grow in April despite global disruptions

India's trade deficit is facing limited immediate challenges from ongoing geopolitical uncertainties, although it remains a crucial area to monitor, according to a recent Crisil report on India's trade deficit. Despite these potential disruptions, the forecast for improved trade growth this year by key multilateral organizations brings encouraging news for Indian exports. In April, India's exports recorded positive growth despite the disruptions in global trade routes and uneven global economic...