Aided by services, India to achieve $750 billion export target in FY23: Govt
India’s overall exports (Merchandise and Services combined) in April-February 2022-23 are estimated to exhibit a positive growth of 16.18% YoY
India’s overall exports (Merchandise and Services combined) in April-February 2022-23 are estimated to exhibit a positive growth of 16.18% YoY
Import of petroleum-related products from Russia accounted for $27.7 billion in April-December 2022, a 700 % increase from $3.4 billion a year ago.
In the fastest-growing segment among the three main segments of the chemical sector, the net exports of specialty chemicals are expected to rise around 10 times.
Imports of solar cells and modules stood at ₹21,850 crore in 2022.
India's trade deficit ballooned to $83.5 billion in FY22, a manifold rise from Covid-hit year of 2020-21 when it was $13.2 bn, shows govt data
The changes in the customs duties will help to provide competitiveness to manufacturing and exports besides attempting import substitution, the FIEO has noted.
India vastly depends on imported crude oil to meet its energy requirements.
The current account deficit (CAD) widened to $36.4 billion in Q2 FY23, from $18.2 billion in Q1 of the fiscal.
An export development fund with a corpus of ₹5000 crore for aggressive overseas marketing by MSMEs can go a long way in showcasing Indian products globally, says FIEO.
During the month, the imports declined by 1.9% YoY to $73.80 billion as against $75.27 billion in December 2021.