In view of the disruptive situations, the Central government has also announced a financial relief package of Rs 497 crores aimed at helping exporters affected by disruptions in West Asia.
India's exports recorded a 13.78 per cent increase to USD 43.56 billion in April, marking the highest monthly outbound shipments in over four years, primarily driven by petroleum products. However, the trade deficit widened to a three-month high of USD 28.38 billion due to a 10 per cent rise in imports.
The government on Wednesday approved two schemes worth Rs 45,000 crore to help exporters tide over the impact of high tariffs imposed by the US on Indian shipments.
Despite Iran allowing 'non-hostile vessels' through the Strait of Hormuz, marine insurance premiums are expected to remain elevated due to persistent high-risk classifications and ongoing geopolitical tensions, with experts cautioning that the threat of attacks and collateral damage still exists.
India's exports jumped by 19.37 per cent to $38.13 billion in November, while imports dipped by 1.88 per cent to $62.66 billion, according to government data released on Monday.
India's merchandise exports grew in the first three weeks of November compared with the same period last year, according to preliminary government data, Commerce and Industry Minister Piyush Goyal said on Tuesday. The uptick comes despite globa
Commerce and Industry Minister Piyush Goyal announced that an interim trade agreement between India and the US is likely to be signed in March and operationalised in April, with chief negotiators meeting in Washington to finalize the details.
'The state governments of Gujarat, Maharashtra and Tamil Nadu will be encouraged to consider measures of their own as the employment and economy in such export-oriented states will be affected.'
The government on Wednesday launched Rs 4,531 crore market access support (MAS) intervention scheme for a six-year period (FY26-31) to improve global reach, visibility and competitiveness of Indian exporters through 'structured and outcome-oriented' interventions.
India's goods exports rebounded in July after two months of contraction, with outbound shipments rising 7.3 per cent to $37.24 billion, led by a surge in exports to the United States before the country's reciprocal tariff kicked in and bolstered by a recovery in exports to other key markets.
Champagne consumption in India is expanding beyond major metropolitan areas into smaller cities like Kanpur, Guwahati, and Lucknow, driven by a desire for sophisticated lifestyle declarations and a growing appreciation for the beverage.
The government has set up an inter-ministerial group to monitor a possible surge in imports from countries like China, Vietnam and Thailand, fearing a surge in inbound shipments following the imposition of high reciprocal tariffs by the US on these countries, sources said. The product categories that may see an upsurge in diversion of imports from the US to India include consumer goods, electronics, chemicals and steel.
After registering a positive growth for two months, India's exports slipped into negative territory again, contracting 2.17 per cent year-on-year to $38.73 billion in May due to a fall in global petroleum prices, while trade deficit narrowed at $21.88 billion during the month.
Karnataka is prioritizing the AVGC sector in its AI-driven creative economy, emphasizing IP creation, responsible AI adoption, and large-scale skilling, according to Minister Priyank Kharge.
An Indian AI Research Organisation official says India has adopted a balanced and pragmatic approach to AI regulation, avoiding the extremes of the US and EU models.
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
The deal fell through over unresolved disagreements over contentious issues, mainly on agriculture and automotive sector tariffs.
Communication channels between India and the US are open to resolve the ongoing tariff issues, and the glitch in trade ties is only temporary, given the long-term relationship between the two nations, government sources said on Wednesday. The US' 50 per cent tariffs on Indian exports to America came into effect from August 27, barring a few sectors.
Businesses are testing new markets, tapping into domestic demand, and pushing the government for relief.
Finance Minister Nirmala Sitharaman launched a strong attack on Rahul Gandhi and the Congress party, accusing them of compromising India's interests on the world stage and selling out farmers and the poor during their time in power.
Learning from East Asia, India must reform its district administration with performance, accountability, and vision to achieve the goal of Viksit Bharat, points out Deepak Mishra.
New Zealand has taken a binding commitment under its Free Trade Agreement (FTA) with India to amend its laws within 18 months of the pact's implementation to facilitate the geographical indication (GI) registration of Indian goods besides wines, and spirits in the island nation. The current GI law of New Zealand only allows India's wines and spirits to be registered.
India is aiming to become a global hub for green hydrogen exports, eyeing nearly 10 per cent of the worldwide demand by 2030, Union Minister Shripad Yesso Naik said on Tuesday. Addressing FICCI Green Hydrogen Summit 2025, the minister said 8.62 lakh tonne annual hydrogen production capacity has been awarded to 19 companies.
The Union Budget for 2026-27, presented by Finance Minister (FM) Nirmala Sitharaman on Sunday, which was a first, had an excellent domestic macro backdrop. According to the first advance estimates, gross domestic product (GDP) in constant prices is projected to grow 7.4 per cent in the current financial year, against 6.5 per cent in 2024-25.
The Union Budget on Sunday proposed a tax holiday till 2047 for foreign companies that provide cloud services to customers globally using data centres located in India, signalling the government's push to make the country a major hub for AI and digital infrastructure.
The Union Budget on Sunday proposed a tax holiday till 2047 for foreign companies that provide cloud services to customers globally using data centres located in India, signalling the government's push to make the country a major hub for AI and digital infrastructure.
The fiscal tilt towards capex benefits companies in investment-related sectors like capital goods, defence equipment, engineering & construction and metal & mining. The planned cut in revenue expenditure will weigh on companies in consumption sectors like FMCG, consumer durables and retail.
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
Under the defence partnership, India and the UAE are eyeing defence industrial collaboration and cooperation in advanced technologies, cyberspace training, special operations, interoperability of their militaries and counter terrorism.
All-party parliamentary delegations on Friday met leaders and diplomats from several countries to galvanise international action against terrorists and decisively counter the tactics of those who perpetrate, support and sponsor cross-border terror activities against India.
'The scrapping of import duty would help Indian companies compete in international markets, thus paving the way for India becoming a space manufacturing hub for the world.'
To set up a future-ready administration geared towards the target of $2 trillion exports by 2030, the Department of Commerce has decided to set up a dedicated trade promotion body to drive overall promotion strategy, export targets, and execution as part of a restructuring exercise. The trade promotion body will formulate and drive overall trade promotion strategy; create and drive India's branding across focus markets and sectors; drive coordinated action across missions, states and export promotion councils; strategic initiatives, including advisory and buyer-seller meet; and develop digital platforms for exporters and buyers. Based on a 14-volume 'restructuring dossier' by the Boston Consulting Group, the commerce department has already implemented some of the recommendations.
Budget 2025-26 delivers a carefully calibrated strategy-stimulating demand and investment while keeping fiscal discipline intact. In an environment marked by global trade disruptions, and a softening in urban consumption, Finance Minister Nirmala Sitharaman has taken a measured approach.
Gor underlined that President Trump has a "deep friendship" with Prime Minister Narendra Modi, and that is something that is unique.
Exports declined for the fourth-consecutive month by 10.3 per cent year-on-year to $34.98 billion in May, while the trade deficit widened to a five-month high of $22.12 billion. According to the data released by the commerce ministry on Thursday, key export sectors recording negative growth include petroleum products, gems and jewellery, engineering goods, ready-made garments of all textiles and chemicals. Imports also declined 6.6 per cent, six-month in a row, to $57.1 billion against $61.13 billion in the same month last year, the data showed.
Indian drugmakers supply 47 per cent of the generic medicine requirements in the US, and tariffs would have increased prices in the US domestic market for patients, who are already dealing with drug shortages.
'While the President has been critical of India, he has gone out of his way to compliment PM Modi. They have an incredible relationship.'
President Droupadi Murmu addressed the nation on the eve of Independence Day, praising the response to terrorism, highlighting achievements in defense self-reliance, and emphasizing unity and progress.
The government announced several incentives in the five-year Foreign Trade Policy.
President Droupadi Murmu's address to the nation on the eve of the 79th Independence Day.
