Exports

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’.

Commerce & Industry Minister Piyush Goyal has emphasized the need for reciprocal market access for Indian products during meetings with Japan, USA, UK, China, France, Singapore, South Korea, Spain, Canada, EU, Mexico, Saudi Arabia, South Africa, Chile and Australia.

Commerce and Industry Minister Piyush Goyal has asked RBI to extend US$25 billion line of credit to exporters, ensuring funds with interest rates not 2% above LIBOR.

Trade and economic relations between India and China have seen rapid progress in the last few years with bilateral trade reaching US$87.06 billion in 2018-19 from a low of US$2.92 billion in 2000-01.

The Federation of Indian Chambers of Commerce and Industry (FICCI) has called for a dialogue between India and the US to find a workable solution with regard to the termination of the Generalized System of Preferences (GSP) for Indian products.

India must think and go for 10% economic growth by boosting consumption, drawing investments and increasing exports, said the newly appointed President of Confederation of Indian Industry, Vikram Kirloskar.

The United States of America (USA) has withdrawn India’s benefits under the Generalized System of Preferences (GSP), a scheme under which India exported US$6.35 billion worth of goods last year.