MAGHAVAN Enterprises

To increase exports, production and GDP must first be increased. In 2030, if India's GDP can meet the target of $7 trillion, exports of $2 trillion will be achievable. Recently, a global consulting firm Boston Consulting Group (BCG) said in its research statement that India's exports to the US, between 2018 and 2022, will grow by 44 percent. While China's exports fell by 10%. Even as US imports from Mexico and ASEAN countries increase, Indian products are taking over the US market rather than Chinese products. By 2027, Walmart, the global retail chain, aims to buy products worth $10 billion from India. Indian exports range from appliances, health and wellness products to food items, apparel, footwear, toys etc. Demand for these products is increasing in the US market. China has been increasing its exports ever since its entry into the world market. China's total exports have grown from just $253 billion in 2000 to $3,730 billion by 2022. China's exports to India wer...

Depending on India to meet demand for the foodgrain, the Indian government may allow the export of 100,000 tonnes of broken rice to Mali, some officials said. This is not the first time India has said it will supply broken rice to Mali. Earlier, the Indian government had also allowed some consignments to be exported to West African countries. Recently, the Indian government allowed the export of about 50,000 tonnes of broken rice to Bhutan. The Indian government has approved the export of about 2.77 million tonnes of non-basmati white rice to 9 countries in Asia and Africa, including Singapore, Nepal, Malaysia and the Philippines. The Indian government had banned exports of broken rice in September 2022 and non-basmati white rice in July 2023 to control domestic inflation. But still India supplies rice to strategic partners in Asia and West Africa. Despite the ban, exports are taking place at the government-to-government (G2G) level. And these are supported by National Cooperative Expo...

HSBC India and UK Export Finance (UKEF) intend to establish a financing program of up to £100 million for India's Micro, Small and Medium Enterprises (MSME) and corporates to finance imports from Britain, HSBC India said in a statement on Thursday, November 23, 2023. On Thursday, HSBC India and UK Export Finance (UKEF) signed a letter of intent. This will help them work together on opportunities related to UKEF's guarantee-backed framework. The agreement will increase credit availability to Indian Micro, Small and Medium Enterprises (MSMEs) and corporates, and further strengthen trade ties between the two countries. HSBC India CEO Hitendra Dave said, “We have a large franchise in India. Given our global strength, we are ideally placed to support the ambitions of Micro, Small and Medium Enterprises (MSME) and corporates through our agreement with UKEF. Also, Harjinder Kang, HM Trade Commissioner for South Asia and Deputy British High Commissioner for Western India, said that wit...

DGFT (Directorate General of Foreign Trade) has launched an initiative called One District One Product (ODOP) to collaborate with e-commerce giants like Amazon to leverage certain districts of India as hubs to take the country's exports to a higher level. Such steps have been taken to enable small and medium enterprises (MSMEs) to increase e-commerce exports of the country. A memorandum of understanding was signed between Amazon and DGFT in this regard. Under this MoU, Amazon and DGFT will co-create capacity building sessions, trainings and workshops for MSMEs in districts selected by DGFT for the District Export Hub initiative as outlined in the Foreign Trade Policy 2023. According to the official statement, DGFT has initially selected 20 districts for capacity building and handholding sessions. Apart from Amazon, other e-commerce platforms such as Flipkart/Walmart, E-Bay, Rivexa, Shopclues, Shiprocket, DHL Express etc. are also in discussion for similar cooperation in other distr...

Despite being the world leader in terms of testing, Indian whiskey exports have not been growing for many years. The main reason for this is the huge domestic demand. India's whiskey exports in 2020-23 were only 10 percent higher than a decade ago. But during this period the import increased almost 4 times. However, India's whiskey exports increased by 18% in April-August of the current financial year compared to last year. The retail price of blended whiskey in the Indian market ranges from Rs 750-1,700 for 750 ml. In October 2023, Indri Single Malt Indian Whiskey was named the best whiskey in the world. Its officials say India has not been able to capitalize on whiskey export opportunities. Despite being at the top of the world in terms of testing, Indian whiskey is not in high demand abroad and has a huge demand in India's domestic market. India's whiskey exports have not increased, but there has been a sharp rise in import rates. India's whiskey exports in fisca...

Director General of Foreign Trade (DGFT), Santosh Kumar Sarangi, told a conference of industry body FICCI on Friday, November 17, that India's e-commerce exports are currently worth around $1 billion annually, and are expected to touch $400 billion in the next six to seven years. It is likely to reach the dollar. This growth in e-commerce exports will help India achieve nearly $2 trillion worth of goods and services exports by 2030. He also said that global e-commerce cross-border, currently around $800 billion annually, is estimated to reach $2 trillion by 2030. Although currently India's total merchandise exports are around $450 billion annually. China's e-commerce exports alone are about $300 billion annually. This suggests that India holds the potential of this sector for the country, where the diversity and innovation of Indian products is immense. The ability of Indian entrepreneurs to fill markets and customize their products to measure specific market requirements i...

Amazon is now India's largest online shopping company. Launched in 2015, the company is gaining significant traction in India as global trade e-commerce giant Amazon's business-to-consumer (B2C) export platform with a handful of sellers. Amazon has targeted exports of goods worth $20 billion by 2025 from India. The Amazon company is currently moving towards their goal by adding thousands of small sellers to its e-commerce platform. "We are very pleased and encouraged by the number of entrepreneurs who have signed up with us this year," Amazon's director of global trade, Bhupen Wakankar, told Reuters, referring to the export plan. We plan to increase our scale in the future. Wakankar said during the 11 days of shopping from Friday, homewares like "Made in India" organic health supplements, bath towels, rugs, children's toys, home decor were in high demand ahead of the Black Friday Cyber Monday sale. Amazon has engaged more than 1 lakh manufacturers an...

On Friday, Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said traders have appealed to the government to examine the possibility of allowing FDI in inventory-based model for e-commerce only for export purposes. But currently the country's FDI policy does not allow foreign direct investment in the inventory-based model of e-commerce. It only allows companies governed by the marketplace model. If considered, it would allow e-commerce companies like Amazon and Walmart's Flipkart to hold inventory. Sectoral organizations under FDI can only act as a marketplace. Sarengi said at the FICCI event, for export purposes only, if it can be reconsidered is something we urge the Department of Industry and Internal Trade Promotion to examine and explore. An industry executive said faster delivery and better capital gains can be ensured if e-commerce firms are allowed to hold inventory even just for export. Forum for Internet, Retailers, Sellers and Traders (First), President,...

Possible restrictions on scrap metal exports from the European Union as it seeks to reduce industrial  emissions could make it difficult for India to grow its steel sector. Countries are recycling more scrap  domestically to reduce its use of polluting feedstocks such as iron ore in the steelmaking process. A  scrap shortage due to a relatively small consumer base is the only important import for India aiming  to double its steel production capacity to 300 million tonnes by the end of the decade. Sanjay Mehta, president of the Material Recycling Association of India, said in an interview in  Mumbai, "Every country is going to save their scrap because of a circular economy being  implemented at home,". He also added “It's going to be a very difficult situation for us" as new EU  regulations are likely to tighten supply to India.” Dhawal Shah partner at trading house Metco Ventures LLP said, "The US, Europe and the Middle East  want to ensure that t...

To promote exports of agricultural and allied sector products from Arunachal  Pradesh, the State Agricultural Marketing Board (APAMB) has signed a  Memorandum of Understanding (MoU) with Dubai-based Lulu Hypermarket. The World Food India 2023 event was held in New Delhi on Friday, November  03. Officials said the MoU was signed on the sidelines of the event. Arunachal  Pradesh Chief Minister 'Pema Khandu' expressed happiness over the deal. Arunachal Pradesh Chief Minister 'Pema Khandu' said, ""Arunachal Pradesh  Agricultural Marketing Board (APAMB) is very happy that it has signed a five-year  MoU with Lulu Hypermarket LLC, Dubai, United Arab Emirates to supply oranges  and vegetables to Gulf countries. I extend my best wishes to all involved in this  landmark agreement." He added that the agreement paves the way for supply  of oranges and vegetables to the Gulf countries, marking an important milestone  in agriculture and market linkage...

Ashok Leyland is banking on Asian markets like Indonesia, Malaysia, Philippines, Egypt, other African  countries and West Asia for growth in overseas business. Ashok Leyland is also hoping for a recovery  in Bangladesh's economy, to increase sales of their products in Bangladesh. Currently the company  sells around 1,100-1,200 units of production per month in the subcontinent, Gulf and African  markets. Most of which are light commercial vehicles (LCVs) and buses. Ashok Leyland's President (LCV, International Operations, Defence, and Power Solutions) Amandeep  Singh said, "Within two years, it plans to expand its export market from 38 countries to 50 countries.  Bangladesh and Sri Lanka accounted for 50% of sales till 2019. Bangladesh is the market on recovery  we will add another 500 units a month. Currently, we have nine plants in SAARC, Middle East and  Africa and four more are in the works- two in Africa and two more in Middle East-North Afric...

On Friday, November 3, 2023, AEPC said in a statement that apparel exports are expected to reach its  target of USD 40 billion by 2023 due to initiatives such as exploring new destinations and growing  strategic stakes. The Apparel Export Promotion Council (AEPC), the national body of Indian apparel exporters, named  this target '40 by 30'. AEPC said in a statement, The '40 by 30' target will reflect the commitment of Indian apparel exporters  to reach new heights and constraints in the ongoing decade. AEPC also announced that India's Minister of Commerce, Industries and Textiles, Piyush Goyal, will  present the prestigious AEPC Export Awards to apparel exporters on December 9, 2023. The 'AEPC  Excellence Honour' will be awarded for the years 2021-22 and 2022-23. The award will be presented  in a total of 13 categories spanning various product categories and with both veteran and start-up  representation. These awards recognize the outstanding con...