The government is evaluating ways to enhance export competitiveness by examining the export credit landscape. Seeking insights from exporters, it aims to address challenges and improve access to financial resources crucial for international trade. With a focus on reducing the cost of export credit, officials are studying best practices from other countries. This initiative comes as India s goods exports declined in FY24, prompting exporters to seek longer-term funding amid global uncertainty.
India’s 100 unicorns valued at $333 billion : Rashtra News #Indias #unicorns #valued #billion India has added 14 unicorns so far in 2022 and the value of all its unicorns 100 in total stands at $332.7 billion, the commerce and industry ministry said on Friday. India added as many as 44 unicorns in 2021 alone, with
India s Commerce and Industry Minister, Piyush Goyal, emphasizes that India does not rush into Free Trade Agreements (FTAs) unless they are equitable, balanced, and fair for the country. He highlights the changed ground realities in India and stresses the importance of thorough negotiations. Current FTA negotiations include the UK, Oman, and the European Free Trade Association (EFTA).
Of this, transactions worth around Rs 45,800 crore have been awarded in the current financial year. The defence ministry is the “first” central government entity to cross this figure, exemplifying its resolute commitment towards optimising public spending in the defence sector, as per GeM chief executive officer P K Singh.
The Commerce and Industry Ministry said applications of specific companies seeking incentives under the production-linked incentive (PLI) scheme for white goods (AC and LED lights) are currently under scrutiny, and there are no delays in disbursement. According to the ministry, 13 foreign-owned companies, including Daikin, Panasonic, Mitsubishi, Hitachi, Nidec, LG, and Met Tube, have pledged to invest Rs 2,090 crore, accounting for approximately 30% of the total committed investments.