SME Times is powered by   
Search News
Just in:   • Monetary panel minutes signal a hawkish RBI in the offing  • IMF urges US to cut debt, deficit  • China mulls anti-dumping measures on synthetic rubber imports  • PNB's 'Mission Gandhigiri' to help recover Rs 1,800 cr  • SA leader leaves Commonwealth summit to deal with protests 
Last updated: 13 Jul, 2017  

PHD.9.Thmb.jpg 'India's exports to top ten destinations increased to 51.6 pc'

Export.9.jpg
   Top Stories
» Modi's visit to strengthen India-UK trade: Industry
» Assocham-Deloitte study for integrated end-to-end logistics
» Urban population contributes more than half to GDP
» India-UAE skill mapping and HR conference in Dubai on April 22
» Delayed GST refund to exporters: Prabhu to raise issue before FinMin
SME Times News Bureau | 13 Jul, 2017
India's exports to top ten destinations have gained strength as the share of top ten destinations has increased to 51.6 percent in 2016-17 from 49 percent in 2013-14, said Gopal Jiwarajka, President, PHD Chamber of Commerce and Industry.

The decline in exports growth rate was also less with top ten destinations as compared with rest of the economies.

Export volume to top ten export destinations declined 7.7 percent from USD 154.05 billion to 142.55 billion in 2016-17 whereas export volume to rest of the economies declined 16.6 percent from USD 160.36 billion in 2013-14 to USD 133.73 billion in 2016-17.

India's overall merchandise exports declined 12 percent during the same period from 2013-14 to 2016-17 from USD 314 billion to USD 276 billion.

Despite overall slowdown in exports growth, it is inspiring to know that India's merchandise exports to USA grew from USD 39.14 billion in 2013-14 to USD 42.33 billion in 2016-17 showing a growth of 8.1 percent with the World's largest economy, said Jiwarajka on Wednesday in New Delhi.   

However, India's exports to China declined 31 percent from USD 14.82 billion in 2013-14 to USD 10.2 billion in 2016-17.

Nearly 53 percent of the India's  exports to USA are in the form of consumer goods, followed by intermediate goods (29 percent), capital goods (12 percent) and raw materials (6 percent).

India and USA have consistently increased their intra-industry trade over the last many years, said Jiwarajka.

Going ahead, scope for enhancing the present intra-industry trade between India and USA is immense, he said.

India's products' export pattern has grown tremendously in tandem with the import pattern of USA. The alignment has recently witnessed a jump in 2016 indicating the demand pattern of USA has been inclined more and more in favour of supply pattern of India, he added.

Considering the steady trade pattern with USA, our exports to USA are seen at USD 50 billion by the next financial year 2018-19, said Gopal Jiwarajka

Exports to UAE also increased from USD 30.52 billion in 2013-14 to USD 31.3 billion during the same period showing a growth of 2.5 percent, said Jiwarajka.

Hong Kong has superseded China as the 3rd biggest export destination for India on the back of rising demand of Indian products in Hong Kong.  

India's exports to Hong Kong grew 11.2 percent from USD 12.73 billion in 2013-14 to USD 14.2 billion in 2016-17, he said.

Going ahead, we are hopeful that our exports will touch USD 325 billion mark in the current financial year 2017-18, Jiwarajka added.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 20 Apr, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(49)
» Startup India has created large-scale jobs: Commerce ministry(4)
» Banks need to speed up MSME loans under PMEGP: Govt(3)
» New MSME definition(2)
» Three years of Mudra(2)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter