New online certification system puts exporters in a fix

What is the News? The Ministry of Commerce had launched an online portal to issue Certificate of Origin(CoO) to the exporters from November 1,2021. The portal was launched to facilitate exporters through a secure, electronic, paperless CoO issuance process. However, exporters are facing challenges in registering on to the portal as it requires high-quality digital… Continue reading New online certification system puts exporters in a fix

Changing economic order

Synopsis: In the absence of a focused approach to exports in the changing global environment, longer-term growth prospects are bound to suffer. Introduction India is on track to attain the $400-billion export target this fiscal year. Exports jumped to $33.44 billion in September, registering 21.35% year-on-year growth. India is clearly benefiting from a stronger-than- expected… Continue reading Changing economic order

Government approves Rs. 4,400 crore investment in ECGC Ltd. in 5 years to provide support to exporters as well as banks

What is the News? The government of India has approved capital infusion of ₹4,400 crores to ECGC Ltd. (formerly known as Export Credit Guarantee Corporation of India Ltd.) over a period of five years, i.e. from FY 2021-2022 to FY 2025- 2026. About ECGC Ltd. (formerly known as Export Credit Guarantee Corporation of India Ltd.)… Continue reading Government approves Rs. 4,400 crore investment in ECGC Ltd. in 5 years to provide support to exporters as well as banks

Changing the agri exports basket

Synopsis: India has the potential to become a global leader in the food processing sector, by making changes to Agri export basket. Introduction The Indian government has been encouraging agricultural exports to meet an ambitious target of $60bn by 2022. What is the current scenario of agriculture? Growing exports: The Ministry of Food Processing Industries… Continue reading Changing the agri exports basket

How sustainable is India’s exports boom?

Synopsis: The rise in exports has sparked hopes of a swift post-pandemic recovery, but there are reasons to be cautious. Introduction August was the fifth straight month when India’s goods exports exceeded $30 billion. In the last five years, other than this ongoing run, it crossed $30 billion in just one other month i.e. March 2019… Continue reading How sustainable is India’s exports boom?

Winners and losers in shipping crisis

Synopsis: Challenges faced by exporters due to steep rise in ocean freight rates and congestion in various ports of the world. Introduction There has been a steep rise in ocean freight rates and congestion in various ports of the world. Indian exporters have complained of increase in freight rates by 300% to 1000% for various… Continue reading Winners and losers in shipping crisis

Government Provides Big Boost to Exporters

What is the News? The Government of India has announced that it would clear all dues of exporters under various export promotion schemes. What are the various export promotion schemes under which dues will be cleared? About Merchandise Exports from India Scheme (MEIS)  Click here to Read about MEIS Note: RoDTEP scheme which came into… Continue reading Government Provides Big Boost to Exporters

The employment dividend from exports

Synopsis: The surge in some export sectors has the potential to address India’s urban jobs challenge with necessary policy intervention. Introduction The share of exports in India’s gross domestic product has seen a steady decline to about 11% during the last ten years. But for the current year, India’s exports of merchandise goods are booming.… Continue reading The employment dividend from exports

Govt sets exports target for textile industry at $100 bn, up from $33 bn

What is the News? The Union Minister for Textiles has asked the textile industry to set an aim to increase textiles exports three times from the present export value of $33 billion to $100 billion of textiles exports. India’s Textile and Apparel Industry:  India is among the world’s largest producers of Textiles and Apparel. The… Continue reading Govt sets exports target for textile industry at $100 bn, up from $33 bn