Key Points
Exporters expect business to resume fully after July, pinning their optimism on recovery in the advanced markets and improved order book.ET.
"We expect $900 billion exports for the full year, of which $500-510 billion would be goods and around $400 billion services," said Ajay Sahai, director general, Federation of Indian Export Organisations (FIEO), adding that the first and second quarters of the calendar year would be slow for exports...
India's goods exports shrank 12.7% on-year to $34.66 billion in the first month of FY24, dragged by sluggish demand and recession in major markets while the trade deficit fell to a 20-month low at $15.2 billion in April...
"Looking at the uncertainty, the government has not fixed any export target for the current fiscal and would only forecast, but exporters and industry were asked to give their own targets," an official said, adding that an overall strategy both for goods and services exports was needed...
Cotton textile and apparel exporters expect 8-10% on-year growth in FY24 after a slow first quarter...
You might be interested in
‘China dumping fibre ahead of upcoming quality control order’
10, Aug, 23Indian textile industry concerned about Chinese dumping of cheap fiber & polyester ahead of quality control order.
View: India isn’t immune to the stagflation that felled its neighbors
07, Mar, 23Luckily for India, a part of this two-year period coincided with a post-Covid-19 reopening. Self-sufficiency in food production, a sizeable foreign-exchange war chest and a vast software exports industry helped cushion the commodity and hard-currency shortages that, in various degrees, hobbled the regions frontier markets: Sri Lanka, Pakistan and Bangladesh.
Indian IT sector to touch $245 bn in FY23: Nasscom
01, Mar, 23India Business News: MUMBAI: India’s IT exports are expected to grow faster than the Indian economy in the 2022-23 financial year, despite subdued sentiment and longer dec.
India’s overall exports crosses an all time high of $750 billion: Goyal
28, Mar, 23The minister said that exports have risen from $500 billion in 2020-2021 to this figure in extremely challenging times
Textile and Apparel exports decline 13.9% in FY23, High inventory and cotton prices make impact felt
14, Apr, 23Textile and apparel exports from India experienced a decline of 13.988% in the fiscal year 2022-2023 compared to the previous year. Apparel exports grew by 1.1%, while textile exports shrank by 23.3%. Factors such as high inventory with international buyers and high cotton prices in India were cited as reasons for the decline. However, there is hope for a recovery as cotton textile exports crossed $1 billion in March 2023. Stable raw material policies and no restrictions on raw materials were highlighted as key factors for the industry’s revival.
Traders flag slow labour-intensive exports' growth
26, Sep, 23Exporters in India have expressed concerns about the slow growth of labour-intensive exports such as garments, gems and jewellery, marine products, and plastics compared to countries like Bangladesh, China, and Vietnam. The Federation of Indian Export Organisations (FIEO) analyzed the sector-wise export performance over the past five years and found that India's market share in labour-intensive sectors has been declining. However, technology-driven sectors like machinery, auto components, electrical and electronics goods have seen a significant surge in global demand.
Service sector cushions India’s economy from high interest rates
31, May, 23Indias economic growth is likely to have grown at a rate of 7% in the year to March 2023, matching government expectations. Although this is slower than the previous year, Indias major world economy continues to record impressive growth and remains one of the fastest-growing.
Indian trade curbs to cut exports by $4 bln, Red Sea attacks a risk - source
21, Dec, 23India might face a $4 to $5 billion drop in exports due to restrictions on wheat, rice, and sugar trade, aiming to control local prices. Attacks in the Red Sea might affect basmati rice shipments. To cope, India could use an African route, but ongoing attacks might raise rice prices by 15% to 20%
India-ASEAN free trade agreement most ill-conceived: Piyush Goyal
28, Jul, 23India Business News: NEW DELHI: Commerce and industry minister Piyush Goyal on Thursday criticised the previous governments for allegedly not doing sufficient stakeholder .
Goods exports dip 15.9% in July
15, Aug, 23India's merchandise exports declined by 15.88% in July to $32.25bn due to a global demand slowdown and lesser outbound shipments of petroleum, jewellery and other important products. India targets a $900bn combined export for FY24, up from the previous year's $770bn and aims to improve its export performance through more trade deals.