EXPORT MARKETING PLAN
Gokaldas Exports MD on PLI scheme, export growth and organic growth expected in ‘24
Gokaldas Exports focuses on women's fashion, outerwear, and sportswear. They will continue to focus on those segments and are seeing growth across all of these product categories.A 15% growth should be possible organically, that is how the company management is looking at the business unfolding over the next two to three years.
Interest equalisation scheme for exporters extended for 2 months; FIEO disappointed
The scheme helps exporters from identified sectors and all MSME manufacturer exporters to avail of rupee export credit at competitive rates at a time when the global economy is facing headwinds. Exporters get subsidies under the Interest Equalisation Scheme for pre and post-shipment rupee export credit.
What would Japanese intervention to boost a weak yen look like?
Amid market uncertainties and political pressures, Prime Minister Fumio Kishida considers intervening to stabilize the yen ahead of the ruling party leadership race. The effectiveness of intervention in addressing public concerns over the weak yen and rising living costs remains uncertain.
Electric vehicles: Desi automakers are seizing export opportunities driven by increased demand for cleaner mobility
Domestic auto makers like Maruti Suzuki, Hero MotoCorp, and TVS Motor are seizing the export opportunity in the electric vehicle market. Maruti Suzuki is set to export its first electric SUV to Europe, Hero MotoCorp is launching its VIDA V1 electric scooter in European countries, and TVS Motor is expanding to the European Union with its electric scooter iQube.
Plan to double market share in country: Volvo CE India MD
Volvo CE India aims to double its market share in India's CE sector, currently at 6.5%. Managing Director Dimitrov Krishnan plans to achieve this growth by leveraging the fast-growing infrastructure development in the country.
EU’s proposed sustainability standards to hurt Indian exports: GTRI
EU's ESPR regulation, criticized by GTRI, may raise costs and impact exports from developing nations due to stringent sustainability standards and Digital Product Passport requirement.
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Export duty on onions to stay as domestic prices recover
India's central government is unlikely to remove the 40% export duty on onions imposed last month, as domestic onion prices have almost doubled in the last month. The average rate of onions at the benchmark Lasalgaon APMC was Rs 28/kg on Tuesday, up 40% in the last 15 days and double of what it was a month ago. The rising onion prices have slowed down the pace of government onion procurement operations to create a strategic reserve under the Price Stabilisation Fund.
Boost for Hyundai Motor export plans, as auto co plans to launch slew of EVs over next 4 years
Hyundai Motor India Ltd (HMIL) is planning a ₹25,000 crore IPO to drive its parent company's strategy of making India a key export hub. The company plans to introduce nearly half a dozen electric vehicles for local sales and exports as part of this ambitious strategy.
Domestic market access for SEZs, SOP for trade pacts likely in 100-day plan
The commerce department is developing a 100-day action plan focusing on various key areas. This includes allowing Special Economic Zones (SEZs) to sell in the domestic market, setting up a comprehensive trade information platform, standard operating procedures for negotiating free trade agreements (FTAs), and establishing ecommerce export zones. The plan also includes the launch of a Trade Connect e-Platform to assist new exporters, the development of ecommerce export hubs, and efforts to boost goods and services exports to $2 trillion by 2030.
Govt steps help boost toy exports, manufacturing; more work needed: DPIIT Secretary
In the interim Budget in February, the Commerce and Industry Ministry has recommended an outlay of Rs 3,489 crore for the Production Linked Incentive (PLI) scheme for toys to boost domestic manufacturing of the sector.
Modi 3.0 in action: NDA's 100-day dash unveiled with key ministry moves
With the National Democratic Alliance assuming power, all Union ministries are set to launch their 100-day plans. ET provides a snapshot of the key government initiatives and actions planned for the next three months.
Japan's Nikkei edges up as financials, export shares rise
Japan's Nikkei share average edged up on Monday as export-related stocks rose on a weaker yen following stronger-than-expected U.S. jobs data and a rise in domestic yields boosted financial stocks.
China risks trade war on two fronts as low-tech exports soar, too
Rising trade tensions as the EU, US, and potentially Canada impose tariffs on Chinese electric vehicles, are impacting global trade dynamics.
Oil rises on strengthening Fed rate cut expectations
Oil prices rose in Asian trading on rising expectations of a Federal Reserve interest rate cut in September and a rebound from a selloff linked to growing U.S. inventories and an OPEC+ supply increase.
Creating an Export Development Fund is crucial for the MSME ecosystem: FIEO’s Ashwani Kumar
A budgetary support equivalent to 1% of preceding year’s export value should be made available every year through the budget grant to the Department of Commerce, he says.
Google's India alphabet P for Pixel, D for Dixon: Local contract manufacturer will make Google Pixel 8 smartphones
Dixon Technologies to manufacture Google Pixel 8 smartphones in India to compete with Apple and Samsung in the Rs 50,000-plus price range. Google aims to increase its market share in India despite import duties, considering Foxconn as a potential manufacturing partner.
Confident of reaching around 15% revenue growth in next 2-3 years: CB Ananthakrishnan, HAL
We are taking a multi-pronged approach both in terms of capacity expansion, improving our manpower, increasing our manpower requirement as and wherever it is required, also increasing the private sector participation on the various programmes to see that the deliveries are made in time.
Global glut takes shine off Indian lab-grown diamonds
Indian lab-grown diamonds (LGDs) prices crashed by 45% in FY24 due to overproduction in global markets. Indian LGD exports dropped by 18.2% in April to $83.77 million as demand rises with increasing gold prices, prompting consumers to opt for LGDs to reduce jewelry costs.
China lays out 'historic' plans to prop up its realty market
Investors hoped the measures marked the beginning of more decisive government intervention to compensate for waning demand for new and old apartments, to slow down falling prices and to reduce a growing stock of unsold homes. Since the property market began its steep downturn in 2021, a string of developers have defaulted, leaving scores of idle construction sites behind, and sapping confidence in what had been the preferred savings instrument for the Chinese population.
India has changed from a nation of savers to a nation of investors: Uday Kotak
Kotak, the banking industry stalwart, hailed India's transition from a nation of savers to investors. Reflecting on the past, he recalled companies resorting to foreign exchanges for capital. He emphasized India's shift towards investment culture, notably through SIPs. Despite a recent decline in equity fund inflows, SIP contributions hit a record high, showcasing India's growing appetite for investment.
Exim posts 62% rise in profits, to raise over Rs 60,000 crore from local markets this year
In terms of the non-performing assets (NPAs), the Gross NPAs declined significantly from 4.09% as on March 31, 2023 to 1.93% as on March 31, 2024, “ we had very few incremental NPAs” said the bank’s managing director Harsha Bangari ” Even the incremental NPAs’ were reduced. We have a provision coverage ratio of 97 percent”.
Jupiter Wagons shares zoom 10% to fresh high, target price raised to Rs 535
Jupiter Wagons shares surged up to 10% to a new 52-week high of Rs 448.85, buoyed by robust Q4 results with revenue, EBITDA, and PAT soaring by 57%, 60%, and 167% respectively YoY. Systematix raised target price to Rs 535, citing integration, margin improvement, and entry into e-LCV market.
China’s factory glut alarms the world but there’s no quick fix
Complaints about China's factory overcapacity are growing, but Beijing is hesitant to make changes that could harm its fragile economy. The EU criticized China for overproduction, urging action in the short term. China announced plans to slow expansion in the battery industry, but they are not binding. The country insists its industries are competitive due to innovation, not subsidies, and will continue supporting high-tech sectors despite international pressure. China's surplus production, stemming from a real estate slump, poses challenges.
Need for speed: Growing global markets provide India’s exports huge potential. But how to reach them?
Logistics inefficiencies and the lack of a state shipping line make it difficult for Indian MSMEs to reach key export markets faster. This gives competition a leg up at a time when the country wants to be a manufacturing and export powerhouse.
Maruti Suzuki reveals recipe for improved export plans in FY25
Indian automaker Maruti Suzuki is targeting nearly 3 lakh exports in FY25, focusing on improving its portfolio abroad. With 283,067 units exported, the company has been India's top passenger car exporter for the third consecutive year. The company has also manufactured over 3 crore automobiles in India. Supporting factors for this outlook include better products, improved portfolio in foreign nations, and talent transfer.
Breitling India sales soar, plans to invest more to step up play
Swiss watch exports to India grew 16.5% year-on-year in 2023, indicating growth of the market in the category. CEO Kern, a Swiss watch industry veteran who earlier led another leading luxury watch brand IWC, said the Indian watch buyer had evolved, and there was a noticeable trend towards purchasing luxury locally, prompting the brand to ramp up its distribution network.
Detailed action plans for 20 agri products likely in 3-4 months to boost exports
Government plans to boost exports of 20 agri products, aiming to increase India's global share to 4-5%. Potential export markets include the US, Malaysia, and Canada. APEDA's sea route protocols help reduce logistics costs.
Stellantis, the maker of Jeep and Citroen brands, plans to make India an EV export hub
Stellantis India CEO & MD Aditya Jairaj told PTI that the company will be the first 'multinational OEM' in India to achieve this feat (to export EVs). Stellantis, which was formed after the merger of Italian-American conglomerate Fiat Chrysler Automobiles and French PSA Group, currently sells its Jeep and Citroen brands in India.
US and China plan talks on economics, including manufacturing 'overcapacity' issue, Yellen says
Yellen, who headed to Beijing after starting her five-day visit in one of China's major industrial and export hubs, said the exchange on balanced growth would create a structure to hear each other's views and try to address American concerns about manufacturing overcapacity in China.
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