The Associated Chambers of Commerce and Industry (ASSOCHAM) Sunday urged the government to incentivise exports, while suggesting a two-pronged strategy to push the manufacturing and agricultural sectors to help the economy achieve double digit growth by 2014.
India's exports rose 36.2 percent to $16.9 billion in April for the sixth straight month after 13 consecutive months of decline, official data released in New Delhi on Tuesday showed.
India should focus on diversifying it export basket to the Latin American and Caribbean (LAC) countries focusing more on manufacturing and high value-added products, said the Minister of State for Commerce and Industry, Jyotiraditya Scindia in New Delhi on Thursday.
Trade between the US and UAE remains robust despite economic recession, says a report. US exports to the UAE rose from $3.6 billion in 2002 to $12.1 billion in 2009, representing a 237-percent increase.
Indian handicraft exporters are facing dearth in labour force, at a time when they are getting fresh orders due to increase in the demands for Indian-produced handicrafts in the Western markets, particularly due to the coming Christmas.
India's exporters will benefit from China's decision to make its currency, yuan, more flexible, the Confederation of Indian Industries said in New Delhi on Tuesday.
Bangladesh's spinners are trying to import cotton yarn and raw cotton from Africa, Austria, the US and Brazil after India recently imposed a ban on its export.
Opining that it is the right time for the government to take the right kind of measures that will help textile industry to witness a 5 per cent positive growth in exports in the current financial year as compared to the corresponding year, said the Confederation of Indian Textile Industries (CITI) General Secretary D K Nair.
Focusing more on domestic demand rather than exports will help the developing economies to counter the global uncertainties, Prime Minister Manmohan Singh said at the G-20 Summit in Toronto on Sunday.
Gems and jewellery exports from India, the world's largest supplier, is expected to grow to US$ 25 billion by 2012, according to the Investment Commission of India.
Software and services exports from the country are likely to register a growth of 5.5 percent to USD 49.7 billion in fiscal 2009-10, reports a news agency citing on Thursday citing the National Association of Software and Service Companies (NASSCOM).
Finance Minister Pranab Mukherjee on Wednesday said India had recovered from the global financial meltdown and the economy was in far better shape than it was a year ago to clock high growth.
Two-wheeler manufacturer Honda Motorcycle & Scooter India (HMSI) is planning to raise its exports to 110,000 units of motorcycles and scooters this fiscal over 80,000 units last year, a top company official said here Thursday.
Commerce and Industry Minister Anand Sharma on Monday reiterated that India's exports for 2009-10 may fall short of the previous year's figures on account of the global economic downturn, but will be around the USD 170 billion mark.
Exports of footwear products from the country is likely to be more than two-fold amounting to USD 3.37 billion (about Rs 148.28 million) by 2013-14, the Indian Footwear Components Manufacturers Association (IFCOMA) said recently.
The textile industry has divided over the government's decision to withdraw the Duty Drawback on exports of cotton yarn with different industry bodies recently giving chalk and cheese views on the issue.
Commerce and Industry Minister Anand Sharma on Monday said that rupee appreciation has not yet posed a major concern for exports and there is no need for the Reserve Bank of India to stem rupee appreciation right now.
