Latest news with #ExportPromotionCouncils
India Gazette
3 days ago
- Business
- India Gazette
Piyush Goyal urges exporters to create platform to boost visibility of Indian traders
New Delhi [India], May 28 (ANI): Union Commerce and Industry Minister Piyush Goyal has urged exporters to create a facility that makes Indian traders easily discoverable by overseas buyers to further boost the country's exports. Piyush Goyal also discussed emerging global opportunities for India in a meeting with representatives of all Export Promotion Councils (EPCs) and other industry associations. which took place in the National Capital, New Delhi, In a post on social media platform X, Union Commerce and Industry Minister Piyush Goyal wrote, 'Met representatives of all Export Promotion Councils (EPCs) & Industry Associations and discussed emerging global opportunities for India. Also, encouraged them to create a facility that makes Indian exporters easily discoverable by overseas buyers to further boost our country's exports.' The meeting between industry stakeholders and the Minister is crucial as India looks to create new destinations for export amid the global trade uncertainties arising after the reciprocal tariff announcements by US President Donald Trump. Minister Goyal has been consulting with the exporters to expand the country's footprint into emerging markets and strengthen trade relations with existing partners. The Union Minister has already given a target of USD 2 trillion in exports by 2030. As per the recently released data, India has reached a USD 825 billion export figure in 2024-25, which is the largest ever export. The monthly data of the Commerce Ministry shows that India's overall exports, including merchandise and services, witnessed a sharp rise to USD 73.80 billion in April 2025, marking a 12.7 per cent increase from USD 65.48 billion in the same month last year. The data shows that the imports surged at an even faster pace, with overall imports climbing to USD 82.45 billion in April 2025, a 15.7 per cent jump from USD 71.25 billion in April 2024. Due to the difference in the export and import, India's overall trade deficit widened to USD 8.65 billion in the current year, as per the data of the Commerce Ministry. This is a significant 50 per cent increase from USD 5.77 billion a year earlier. (ANI)
Time of India
4 days ago
- Business
- Time of India
Goyal asks exporters to leverage FTAs, talks non-tariff barriers
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Commerce and industry minister Piyush Goyal Tuesday asked exporters to increase the utilisation of free trade agreements (FTAs) and discussed non-tariff barriers at a meeting with export bodies and industry. The proposed centralised exporters portal, India's trade pact talks with the EU and the US, and ways to further boost exports of services and value-added goods were also discussed."Met representatives of all Export Promotion Councils (EPCs) & Industry Associations and discussed emerging global opportunities for India. Also, encouraged them to create a facility that makes Indian exporters easily discoverable by overseas buyers to further boost our country's exports," Goyal said in a post on X."Non-tariff barriers were discussed during the meeting," said an representatives said support could be provided to exporters to deal with EU regulations like the Digital Product Passport (DPP).The DPP, which is to be implemented by the EU from January 1, 2026, aims to digitally record, store and share information about a product's entire life cycle-from raw materials to manufacturing, usage, recycling and disposal. It will be mandatory for a wide range of products including electronics, batteries, textiles and construction materials."It was discussed that about 9-10 FTAs are in the pipeline, including Chile and New Zealand," said an industry representative, adding that an early harvest trade deal with the EU is progressing at a faster pace and it may be concluded soon."Discussions happened on ways to incorporate exporters' data and put it on a common portal," said another industry representative who attended the government has allocated Rs 18,233 crore under the Remission of Duties and Taxes on Exported Products (RoDTEP) in the current financial year for over 10,750 product categories, the commerce and industry ministry said. As of March 31, 2025, total disbursements under the scheme have crossed ₹57,976.78 benefits under the scheme for exports of goods manufactured in SEZsand export-oriented units are restored from June 1 this year.
Time of India
4 days ago
- Business
- Time of India
Goyal to meet exporters on May 27 on proposed centralised exporters portal
NEW DELHI: Commerce and Industry Minister Piyush Goyal will hold discussions with representatives of export promotion councils (EPCs) here on May 27 on the proposed centralised exporters portal , an industry official said on Monday. India's export ecosystem suffers from fragmented data spread across multiple platforms, lack of a centralised exporter directory, and outdated digital infrastructure that hampers global visibility. The discussions will revolve around "a modern, centralised exporters portal in India - a strategic tool to bridge the gap in trade information," the official said. Export Promotion Councils (EPCs) and government portals do not provide accessible, verifiable, or comprehensive exporter information to foreign buyers, the official added. "Many exporter databases are either inaccessible, require logins, or lack filtering tools based on quality, certifications, or track record. This results in inefficiencies, limited outreach for MSMEs , missed opportunities in niche markets, and weak global branding," the official said. The absence of real-time analytics, product showcasing, and multilingual interfaces further limits India's competitiveness, while inadequate verification mechanisms contribute to fraud and erode trust in Indian exporters. Live Events In this backdrop, there is a plan to develop a government-endorsed, centralised exporters' portal as a unified digital platform integrating data from DGFT, EPCs, and private trade sites.
Time of India
07-05-2025
- Business
- Time of India
Piyush Goyal to meet exporters on May 8 on India-UK trade pact
Synopsis Commerce and Industry Minister Piyush Goyal is scheduled to meet with Export Promotion Councils (EPCs) on May 8 to discuss the free trade agreement with the UK. The landmark deal aims to eliminate taxes on key Indian exports like leather and clothing, while reducing tariffs on UK imports such as whisky and cars.
