PM Modi has inaugurated the new premises of the Ministry of Commerce and Industry - 'Vanijya Bhawan' in Delhi and launched a portal - NIRYAT (National Import- #Export Record for Yearly Analysis of #Trade).

Union Minister Piyush Goyal explained, "NIRYAT is developed as a one-stop platform for stakeholders and will ensure easy access to relevant information on India's foreign trade."

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https://t.co/W5EopLoQZK

#Export #Manufacturing #MakeInIndia

India’s defence exports at record Rs 13,000 crore, 70% from private sector

India’s #export of arms and #defence technologies touched a record Rs 13,000 crore in the financial year 2021-22, with 70% contribution coming from the private sector and the remaining 30% from the public sector.

The defence exports, which witnessed a substantial increase over the preceding fiscal, were mainly to the US, the Philippines and other countries in South-East Asia, West Asia and Africa.

“In 2021-22, we have recorded Rs 13,000 crore of exports, which is the highest ever number that we have ever recorded in defence,” Additional Secretary (Defence Production)

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https://t.co/z0979QNHW0

Vedanta and Foxconn JV to invest $26 billion USD in Maharashtra

#MakeInIndia #Manufacturing #AatmnirbharBharat #Export #IT

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#MakeInIndia #Manufacturing #Export

https://t.co/u9Fm0pGmLD

#ForeignAffairs #Export #Health

S&P Global April Services PMI at 62.0 vs 57.8 in March.

Global April Services PMI rises to highest level since June 2010

#Service #IT #Export

Akash Missile: Armenia Emerges Prime Contender As BDL Order Book Shows Export Order For Indian SAMs

Akash is a short-range SAM system manufactured by Bharat Dynamics Limited (BDL) to protect vulnerable areas and points from air attacks. According to the BDL website, the Akash Weapon System (AWS) can simultaneously engage Multiple Targets in Group Mode or Autonomous Mode. It has built-in Electronic Counter-Counter Measures (ECCM) features. The entire weapon system is put atop mobile platforms.

The project has an overall indigenous content of 82 percent, which will be increased to 93 percent by 2026-27.

#Defence #Export

https://www.eurasiantimes.com/akash-missiles-armenia-emerges-prime-contender/?amp

After Armenia order, Philippines, Brazil, Egypt showing interest in Akash air defence missile system

India has reportedly set itself an ambitious defence exports target of Rs 35,000 crore by 2024-25

#Defence #Export

https://www.aninews.in/news/world/asia/after-armenia-order-philippines-brazil-egypt-showing-interest-in-akash-air-defence-missile-system20231219204039/

#Defence #Export

India-Oman FTA likely in Jan 2024.

Comprehensive Economic Partnership Agreement (CEPA) to be signed next month.

#Export #Bilateral #Trade

🚔 Made-in-India car exports are set to touch pre-Covid levels, despite global uncertainty. According to industry estimates, Indian carmakers are set to ship more than 675,000 vehicles in the fiscal year that ends March 31

#Trade #MadeInIndia #Export #Car

💻 Tata Electronics has reportedly started exporting limited quantities of semiconductor chips packaged at its Bengaluru-based research and development centre.

This move is expected to give a boost to India's semiconductor ecosystem.

#Semiconductor #Export

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Export orders rise 10% in six months on demand from 🇺🇸 US, 🇪🇺 EU

Export orders up 10% in EU, West Asia, US driven by leather goods, footwear, apparel demand in India. Challenges for engineering goods due to geopolitical tensions. Increase in apparel orders from the 🇬🇧 UK and demand for non-leather footwear. Positive impact of trade pacts with 🇦🇺 Australia and 🇲🇺 Mauritius.

#Export #Trade

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Smartphones have become the fourth-largest #Export item from India, achieving 42% growth to reach $15.6 billion in FY24, as per a Business Standard report.

#Trade

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Government notifies revised Special Additional Excise Duty (SAED)/Road and Infrastructure Cess (RIC)] rate on exports of diesel and aviation turbine fuel (ATF) for next fortnight beginning 1st May, 2026
Rate of duty on exports of diesel will be Rs. 23 per litre (SAED - Rs. 23; RIC - Nil); and Rs. 33 per litre (SAED only) on exports of ATF; Nil duty on exports of petrol

No change in existing excise duty rates on petrol and diesel for domestic consumption
#Export

India aims for $2 trillion in exports by 2030-31. The Commerce Department has created a detailed plan. This framework targets sectors like engineering, textiles, and services. Key performance indicators and timelines will guide progress. Inter-departmental coordination is crucial. An IT platform will track advancements. Strengthening 'Brand India' is also a priority.
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#Export

India's arms trade surplus grew tenfold, reaching $691 million in FY26 from $63 million in FY18
#defence #export
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