Principle commodities mark positive export growth, but overall exports shrink
Global headwinds and recessionary trends in India’s biggest export destinations have led to the sequential fall in Indian merchandise exports.
Global headwinds and recessionary trends in India’s biggest export destinations have led to the sequential fall in Indian merchandise exports.
The present exports' figures from Rajasthan were calculated at Rs 77,771 crore in the year 2022-23 as against Rs 46,476 crore in the year 2017-18.
Buoyed by friendly government policies and production-linked incentive (PLI) scheme, India is set to cross Rs 1,20,000 crore in mobile exports in the current fiscal year (FY24), driven by tech giant Apple, the top electronics industry body told IANS on Tuesday.
US crude oil imports decreased while exports increased during the week ending March 10, the US Energy Information Administration (EIA) said in a report.
Union Minister Piyush Goyal has said that India's overall export figure for last year had already crossed in the month of February and expressed confidence that merchandise and services exports would touch USD 750 billion in 2022-23 (April-March).
As India’s domestic demand has remained steady amidst the global slump, overall imports in April-January 2022-23 are estimated to exhibit a growth of 22.92 per cent.
For the year 2022-23, an export target of $23.6 billion has been fixed by APEDA for the agricultural and processed food products basket.
The overall gross exports of gems and jewellery declined 14.64 per cent to Rs 25,843.84 crore in October, against Rs 30,274.64 crore in the year-ago period.
The Ministry of Industry and Trade of India reported that trade turnover between Russia and India exceeded $18.2 billion in the first five months of the fiscal year. The surge in trade between the two countries made Russia the country's seventh largest trade partner, rising from 25th place with a total trade turnover of $13.1 billion in 2021.
India is considering resuming purchases of Russian wheat with the aim of processing and re-exporting it, the TASS news agency reported.