Exports

Only 17 out of 30 major product groups were in positive territory during May 2019 exports including electronic goods, organic & inorganic chemicals, drugs & pharma, RMG of all textiles, plastics & Linoleum, ceramic products & glassware, handicrafts and commodities.

Prime Minister Narendra Modi has acknowledged the challenge in the goal to make India a US$5 trillion economy by 2024 but has assured that it can be achieved.

India is hosting the Intersessional meeting of Kimberley Process (KP) 17-21 June 2019 in Mumbai to address the flow of Conflict Diamonds which used by rebel movements or their allies to finance conflict aimed at undermining legitimate governments.

The Federation of Indian Export Organizations (FIEO) has called for online-30-day approval for all foreign direct investments relating to technology transfer and niche technology.

There is a lot of potential for expanding trade between India and the Latin American and the Caribbean (LAC) region, riding on the strong 20-fold increase to US$39 billion in 2018 from US$2 billion in 2002.

India and Russia have set an ambitious task to achieve an investment target of US$50 billion by 2025 with a special focus on cooperation in the high-tech sector, and emerging technologies.

Karnataka, with well-established infrastructure and IT-ecosystems, offers investment opportunities in aerospace and defence equipment, agri and food processing, automotive, biotech, pharmaceuticals, medical devices, and textiles, according to a research report.

Bangalore’s CropIn, a full-stack agri-tech organization, has registered a 3X ARR growth over the last five quarters and has grown by 325% during the last 15 months.

Commerce & Industry and Steel Ministers have assured the steel industry that all efforts will be made to double engineering goods exports in the next 5 years for achieving US$200 billion target by 2030.

The V.O. Chidambaranar Port Trust, Tuticorin and Central Warehousing Corporation (CWC) have signed a Memorandum of Understanding for facilitating Direct Port Entry (DPE) of e-sealed factory stuffed export container to the port under ‘Ease of Doing Business’.