Global buyers are putting pressure on exporters to offer discounts between 10 per cent and 15 per cent.
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
Import growth moderated to a four-month low, owing to sharp decline in that of gold.
India's exports dipped deeper in the negative zone.
India has decided to authorise the country's biggest lender SBI to promote rupee trade with Russia and soon Moscow will name its bank to operationalise the mechanism, exporters' body FIEO said on Wednesday. The RBI in July issued a detailed circular asking banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. Currently, a large part of bilateral trade between India and Russia is getting settled in rupee due to sanctions imposed by the US and Europe following Moscow's attack on Ukraine.
The Centre was seized of the issue of the continuing appreciation of the rupee against the dollar adversely affecting the exporting community, Union Commerce and Industry Minister Arun Jaitley said on Saturday.
Out of 30 key export sectors, as many as 22 showed negative growth in September.
The country's apex exporters body Federation of Indian Export Organisations said that support extended by the minister for research and development activities and reduction of duties on capital goods will help in increasing competitiveness of Indian products in the global market.
M Rafeeque Ahmed discusses revenue deficit, exports and leather trade with Rediff readers.
Imports rose by 1.44 per cent to $43.44 billion in March 2019.
India's exports are estimated to have remained at around $312 billion in 2013, while the final figures for 2014 could be around this figure only.
Sectors with positive growth during the month include rice, iron ore, oil seeds, oil meals, meat, dairy and poultry products, pharmaceuticals, coffee, engineering goods, and plastic.
RBI declines to accede to plea, upheld by Padmanabhan panel, for priority sector tag; feels move would dilute claims of those needing it more.
Export sectors that showed positive growth last month included chemical, iron ore, electronics, marine products and pharmaceuticals. Decline in overall imports, including oil and gold, led to narrowing of trade deficit.
Imports too declined by 16.31 per cent to $37.39 billion.
Imports too tumbled by 58.65 per cent to $17.12 billion in April from $41.4 billion in the same month last year, according to the data by the commerce and industry ministry.
President of the Federation of Indian Export Organisations, Ramu Deora, has presented some points to the finance minister
As the liquidity crunch reaches crisis levels and getting tax refunds remain a big headache, exporters saw orders fall by 15 per cent till October.
Imports too contracted by 28.72 per cent to $31.16 billion. Dip in exports and imports narrowed the trade deficit -- the difference between imports and exports -- in March to $9.76 billion, the lowest in the last 13 months.
India is all set to achieve the target of one per cent share of the world trade in exports well ahead of schedule, Director General of Foreign Trade L Mansingh asserted on Tuesday.
Removal of this status means India can now enhance customs duties to any level on goods coming from Pakistan.
Economists polled in a recent survey by Ficci unanimously felt that the rupee will continue to be under pressure in 2018-19
Indian business forums on Tuesday welcomed a government plan to forge an ambitious national foreign trade policy which aims to double annual exports to more than $150 billion in the coming years.
Ban on US-EU import of meat & poultry products could, if we get active, allow us to access a $128-billion market.
Apex exporters' body FIEO has sought reduction in import duty on capital goods to 5 per cent from the present 15 per cent to help Indian manufacturers compete in the global market.
India's merchandise exports in February shrank for the 15th straight month on continued weak demand from Europe, the South Asian nation's biggest market.
Export-Oriented Units (EOUs) in the country are likely to continue to enjoy income-tax benefits even after the ensuing deadline of March 2009.
IIT, Bombay and Federation of Indian Export Organisations announce the four-month (weekends) Certificate Course in International Business Studies.
Imports rise at highest pace in more than 2 years as crude oil price spikes.
From toys, footwear and furniture to insulated flasks, smart meters, and air coolers - the Central government over the last decade has mandated higher standards for production and imports of such items. Sample this: Till 2014, there were 14 Quality Control Orders (QCOs) covering 106 products. By the latest count, there are 156 QCOs on 672 products.
Leading industry and export chambers like PHDCCI and Federation of Indian Export Organisation on Tuesday demanded 1.0 per cent cut in bank rate and cheaper export finance in Reserve Bank of India's' forthcoming busy season credit policy.
September import growth was the second lowest this fiscal year, after the April growth figures of 4.6 per cent, bringing the trade deficit down to $13.98 billion
The government has decided to postpone the release of the new Foreign Trade Policy (FTP) and extend the existing one by six months on account of global uncertainties and currency fluctuations. The government was scheduled to announce the new FTP by the end of September. The current policy was to end on September 30.
Chairman and managing director of Delhi-based Overseas Carpets, O P Garg has been elected as president of Federation of Indian Export Organisations.
The large drop was for export orders that were meant to be delivered until October.
Barring rice, spices, iron ore and pharmaceuticals, all the remaining 26 key sectors registered negative growth in May. Imports too plunged 51 per cent to $22.2 billion in May.
For the first time, Amul fresh milk will be available outside India, with the Gujarat Cooperative Milk Marketing Federation (GCMMF) launching four variants of milk in the US market within a week, to cater to Indian diaspora and Asian population. "We have been exporting dairy products for many decades. This is the first time we are launching fresh milk outside India," GCMMF MD Jayen Mehta told PTI. He said "the GCMMF has tied up with 108-year old cooperative organisation Michigan Milk Producers Association (MMPA) to launch fresh milk in the US market."
The Federation of Indian Export Organisations welcomed the RBI's decision to cut repo rate and said it would augur well for the exports, while asking for slashing rupee credit by 1.0-1.5% in view of the appreciating domestic currency.
Days ahead of the annual monetary policy, trade bodies today urged the Reserve Bank not to hike its key-rates as they fear a further tightening could push lending rates up and thus hamper growth.
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