India could unlock a massive $110 billion export opportunity in food processing, according to a paper by the National Council of Applied Economic Research (NCAER).

India is already a major agricultural producer, with huge output of fruits, vegetables, grains, dairy and other farm products. However, much of this produce is exported or sold in relatively raw form, limiting the value India can capture.

Greater investment in food processing, cold storage, logistics, supply chains and technology could allow Indian agricultural products to be converted into packaged, ready-to-eat and longer-lasting products that command higher prices in international markets.

The opportunity also comes with major challenges. Fragmented production, inconsistent quality, inadequate storage infrastructure and limited scale can make it difficult for Indian producers to meet international standards and large export orders.

Government initiatives aimed at strengthening food processing infrastructure and attracting investment could help India move further up the global value chain.

India’s $110B Food Export Opportunity | Food Processing Could Turn India Into a Global Food Hub

Despite an escalating conflict in West Asia, causing logistical disruption, security challenges for shipping, and an energy price spike, India's trade has held steady, witnessing positive momentum in the recent past, the Indian government confirmed on Tuesday (March 17).&nbsp;Addressing Parliament, Union Commerce and Industry Minister Piyush Goyal lauded the resilience, stating that growth in exports of goods and services held firm in February and witnessed positive growth in the second week of March, despite ongoing war-related disruption. He expressed confidence that New Delhi will maintain its exports by the end of the month.&nbsp;“Amid the adverse situations in the world, anyone could think that ships cannot pass through the Strait of Hormuz, freight has hiked by 3 times, and there is no insurance. Despite that, in the month of February, trade of goods was constant and did not decline, while the growth in services is rapidly increasing. Even in March, while we weakened slightly in the first week, positive growth was attained in the second week. By the end of the month, we will maintain the Indian exports,” Goyal told the Lok Sabha.&nbsp;These statements come as Iran has effectively blocked transit through the Strait of Hormuz, which accounts for the shipping of nearly 20 per cent of the global oil supply.&nbsp;India has ramped up its diplomatic efforts in the region, especially with Tehran, to secure the supply of gas and oil through the strait. Iran has allowed only selected countries, including India, China, and Russia, as it asserted that the waterway is only closed for enemies and those supporting their aggression.&nbsp;Earlier today, an Indian LPG carrier, Nanda Devi, arrived at Vadinar port in Gujarat's Jamnagar, carrying 46,500 metric tonnes of LPG for ship-to-ship transfer at the anchorage after successfully passing through the Strait of Hormuz.&nbsp;Also Read: <a href="https://www.wionews.com/world/rubio-to-announce-nations-joining-hormuz-coalition-trump-says-iran-wants-a-deal-1773682869220">Rubio to announce nations joining Hormuz coalition: Trump says Iran wants a deal</a>&nbsp;On Monday evening, the Indian carrier LPG Shivalik, carrying a total of 46,000 metric tonnes of liquefied petroleum gas, arrived at Mundra Port. Of this, 20,000 MT will be unloaded at Mundra, while the remaining 26,000 MT is scheduled for Mangalore.&nbsp;There are now 22 Indian-flagged vessels remaining in the Persian Gulf, carrying a total of 611 seafarers.&nbsp;The war, sparked by joint US-Israeli strikes on February 28, has entered its 18th day, with no sign of either side ready to back down. On the opening day of the military campaign, US-Israeli forces targeted the top leadership of the Islamic Republic, killing Supreme Leader Ali Khamenei in a decapitation strike on a high-security compound in Tehran.&nbsp;In retaliation, Tehran resorted to launching missile and drone strikes on strategic locations, including US military bases in Gulf nations and key energy and financial centres in these countries, along with closing the Strait of Hormuz to put pressure on Washington.

Goyal stated growth in exports of goods and services held firm in February and witnessed positive growth in the second week of March, despite ongoing war-related disruption.

Despite an escalating conflict in West Asia, causing logistical disruption, security challenges for shipping, and an energy price spike, India's trade has held steady, witnessing positive momentum in the recent past, the Indian government confirmed on Tuesday (March 17). Addressing Parliament, Union Commerce and Industry Minister Piyush Goyal lauded the resilience, stating that growth in exports of goods and services held firm in February and witnessed positive growth in the second week of March, despite ongoing war-related disruption. He expressed confidence that New Delhi will maintain its exports by the end of the month. “Amid the adverse situations in the world, anyone could think that ships cannot pass through the Strait of Hormuz, freight has hiked by 3 times, and there is no insurance. Despite that, in the month of February, trade of goods was constant and did not decline, while the growth in services is rapidly increasing. Even in March, while we weakened slightly in the first week, positive growth was attained in the second week. By the end of the month, we will maintain the Indian exports,” Goyal told the Lok Sabha. These statements come as Iran has effectively blocked transit through the Strait of Hormuz, which accounts for the shipping of nearly 20 per cent of the global oil supply. India has ramped up its diplomatic efforts in the region, especially with Tehran, to secure the supply of gas and oil through the strait. Iran has allowed only selected countries, including India, China, and Russia, as it asserted that the waterway is only closed for enemies and those supporting their aggression. Earlier today, an Indian LPG carrier, Nanda Devi, arrived at Vadinar port in Gujarat's Jamnagar, carrying 46,500 metric tonnes of LPG for ship-to-ship transfer at the anchorage after successfully passing through the Strait of Hormuz. Also Read: Rubio to announce nations joining Hormuz coalition: Trump says Iran wants a deal On Monday evening, the Indian carrier LPG Shivalik, carrying a total of 46,000 metric tonnes of liquefied petroleum gas, arrived at Mundra Port. Of this, 20,000 MT will be unloaded at Mundra, while the remaining 26,000 MT is scheduled for Mangalore. There are now 22 Indian-flagged vessels remaining in the Persian Gulf, carrying a total of 611 seafarers. The war, sparked by joint US-Israeli strikes on February 28, has entered its 18th day, with no sign of either side ready to back down. On the opening day of the military campaign, US-Israeli forces targeted the top leadership of the Islamic Republic, killing Supreme Leader Ali Khamenei in a decapitation strike on a high-security compound in Tehran. In retaliation, Tehran resorted to launching missile and drone strikes on strategic locations, including US military bases in Gulf nations and key energy and financial centres in these countries, along with closing the Strait of Hormuz to put pressure on Washington.

Goyal stated growth in exports of goods and services held firm in February and witnessed positive growth in the second week of March, despite ongoing war-related disruption.

India stands firm as West Asia conflict fails to dent trade momentum: Piyush Goyal

Higher exports helped India's merchandise trade deficit come down to lower than expected at $19.8 billion in December, data showed on Monday, though officials signalled that the turmoil in the Red Sea could have an impact on this month's figures.

Economists polled by Reuters had expected a merchandise trade deficit of $21 billion in December.

<a href="https://www.wionews.com/world/israel-hamas-war-conflict-to-wind-down-in-southern-gaza-says-israel-680333">Click here to follow all updates on the Israel-Hamas war</a>

"There has been a demand upturn in December (leading to higher exports). This provides us a cushion as there are uncertainties for trade in January and going forward due to the Red Sea crisis," Trade Secretary Sunil Bharthwal said.

Nearly 80% of India's merchandise trade with Europe passes through the Red Sea where shipping has been attacked by Yemen's Iran-backed Houthi militants, in a spillover from Israel's more than three-month-long war with Hamas in the Gaza Strip

Trade ministry official Satya Srinivas told reporters India's December exports were not impacted by the Red Sea crisis, but some more recently consignments had been put on hold.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/red-sea-attacks-spark-global-inflation-fears-disrupting-supply-chains-680168">Red Sea attacks spark global inflation fears, disrupting supply chains</a>

India's merchandise exports in December stood at $38.45 billion, while imports were $58.25 billion, government data showed on Monday. In the previous month, merchandise exports were $33.9 billion, while imports stood at $54.48 billion.

Merchandise exports for the period April-December totalled $317.12 billion, while imports for the same period reached $505.15 billion, the data showed. The figures compared with $336.30 billion in exports, and $548.64 billion in imports for the same period last year.

In December, services exports were $27.88 billion, while imports were $13.25 billion. In November, services exports were $28.68 billion and imports were $13.4 billion.

Higher exports helped India's merchandise trade deficit come down to lower than expected at $19.8 billion in December, data showed on Monday, though officials signalled that the turmoil in the Red Sea could have an impact on this month's figures.

Higher exports helped India's merchandise trade deficit come down to lower than expected at $19.8 billion in December, data showed on Monday, though officials signalled that the turmoil in the Red Sea could have an impact on this month's figures. Economists polled by Reuters had expected a merchandise trade deficit of $21 billion in December. Click here to follow all updates on the Israel-Hamas war "There has been a demand upturn in December (leading to higher exports). This provides us a cushion as there are uncertainties for trade in January and going forward due to the Red Sea crisis," Trade Secretary Sunil Bharthwal said. Nearly 80% of India's merchandise trade with Europe passes through the Red Sea where shipping has been attacked by Yemen's Iran-backed Houthi militants, in a spillover from Israel's more than three-month-long war with Hamas in the Gaza Strip Trade ministry official Satya Srinivas told reporters India's December exports were not impacted by the Red Sea crisis, but some more recently consignments had been put on hold. Also read: Red Sea attacks spark global inflation fears, disrupting supply chains India's merchandise exports in December stood at $38.45 billion, while imports were $58.25 billion, government data showed on Monday. In the previous month, merchandise exports were $33.9 billion, while imports stood at $54.48 billion. Merchandise exports for the period April-December totalled $317.12 billion, while imports for the same period reached $505.15 billion, the data showed. The figures compared with $336.30 billion in exports, and $548.64 billion in imports for the same period last year. In December, services exports were $27.88 billion, while imports were $13.25 billion. In November, services exports were $28.68 billion and imports were $13.4 billion.

India sees December exports boost, but all eyes on Red Sea

India is bracing for a potential $30 billion blow to its exports in the current fiscal year as escalating threats to cargo vessels in the Red Sea lead to a surge in container shipping rates, prompting exporters to hold back shipments. <o:p></o:p>

A Bloomberg report cited figures from a New Delhi-based think tank,&nbsp;the Research and Information System for Developing Countries, that indicates&nbsp;a 6.7 per cent drop in Indian exports based on last fiscal year's $451 billion total. <o:p></o:p>

Sachin Chaturvedi, the director-general of the think tank, stated, "The crisis in the Red Sea would indeed impact India’s trade and may lead to further contraction." <o:p></o:p>

The Suez Canal's ship traffic has decreased by about 44 per cent, raising concerns about the disruption's impact on India's major shipping routes to Europe, the US East Coast, the Middle East, and African countries.<o:p></o:p>

India's reliance on the Red Sea for shipping to key destinations makes it particularly vulnerable to disruptions caused by the threats in the region. <o:p></o:p>

The Indian government, led by Prime Minister Narendra Modi, is actively engaging with export promotion councils to explore strategies to safeguard trade transiting through the Red Sea. <o:p></o:p>

Attacks by Yemen's Iran-backed Houthi militants, targeting vessels in the Red Sea with missiles, have added complexity to the situation. <o:p></o:p>

The government has not released official estimates on the impact of the Red Sea crisis on Indian exports, but it has taken proactive measures, such as deploying a warship to the Arabian Sea to address potential threats.<o:p></o:p>

The disruptions in the Red Sea have triggered a domino effect, leading to a significant increase in container shipping rates. <o:p></o:p>

Freightos.com, a cargo booking and payment platform, reports a 173 per cent surge in the spot rate for shipping goods in a 40-foot container from Asia to northern Europe, reaching over $4,000. <o:p></o:p>

Similar increases are observed in rates from Asia to North America's East Coast, rising 55 per cent to $3,900 for a 40-foot container. <o:p></o:p>

Exporters and buyers are reportedly renegotiating contracts to adapt to the soaring freight charges. The Red Sea disruption is particularly concerning for India's oil and auto sectors, potentially impacting margins.<o:p></o:p>

&nbsp;Additionally, economists warn of inflationary pressures as higher global freight and insurance rates, coupled with potential supply chain issues, could contribute to cost-push inflation.<o:p></o:p>

(With inputs from Bloomberg)<o:p></o:p>

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India is bracing for a potential $30 billion blow to its exports in the current fiscal year as escalating threats to cargo vessels in the Red Sea lead to a surge in container shipping rates, prompting exporters to hold back shipments.

India is bracing for a potential $30 billion blow to its exports in the current fiscal year as escalating threats to cargo vessels in the Red Sea lead to a surge in container shipping rates, prompting exporters to hold back shipments. A Bloomberg report cited figures from a New Delhi-based think tank, the Research and Information System for Developing Countries, that indicates a 6.7 per cent drop in Indian exports based on last fiscal year's $451 billion total. Sachin Chaturvedi, the director-general of the think tank, stated, "The crisis in the Red Sea would indeed impact India’s trade and may lead to further contraction." The Suez Canal's ship traffic has decreased by about 44 per cent, raising concerns about the disruption's impact on India's major shipping routes to Europe, the US East Coast, the Middle East, and African countries. India's reliance on the Red Sea for shipping to key destinations makes it particularly vulnerable to disruptions caused by the threats in the region. The Indian government, led by Prime Minister Narendra Modi, is actively engaging with export promotion councils to explore strategies to safeguard trade transiting through the Red Sea. Attacks by Yemen's Iran-backed Houthi militants, targeting vessels in the Red Sea with missiles, have added complexity to the situation. The government has not released official estimates on the impact of the Red Sea crisis on Indian exports, but it has taken proactive measures, such as deploying a warship to the Arabian Sea to address potential threats. The disruptions in the Red Sea have triggered a domino effect, leading to a significant increase in container shipping rates. Freightos.com, a cargo booking and payment platform, reports a 173 per cent surge in the spot rate for shipping goods in a 40-foot container from Asia to northern Europe, reaching over $4,000. Similar increases are observed in rates from Asia to North America's East Coast, rising 55 per cent to $3,900 for a 40-foot container. Exporters and buyers are reportedly renegotiating contracts to adapt to the soaring freight charges. The Red Sea disruption is particularly concerning for India's oil and auto sectors, potentially impacting margins. Additionally, economists warn of inflationary pressures as higher global freight and insurance rates, coupled with potential supply chain issues, could contribute to cost-push inflation. (With inputs from Bloomberg) WATCH WION LIVE HERE

India faces $30 bn export hit as Red Sea threats disrupt shipping routes

India is all set to spend Rs 2.71 lakh crores ($33 billion) on defence equipment in Financial Year 2023. 99 per cent of this equipment will be sourced from Indian industries.

India is all set to spend Rs 2.71 lakh crores ($33 billion) on defence equipment in Financial Year 2023. 99 per cent of this equipment will be sourced from Indian industries. Much to the US and Russia’s dismay, India’s defence imports are shrinking year-on-year and it's because of the emergence of the Indian defence industry. India chooses indigenous defence equipment over Imports: India will procure weapons for the Indian Armed Forces worth Rs 70,500 crores ($8.7bn) and they will all be made in India. 1) Indian Navy proposals constitute more than Rs 56,000 crore ($6.84bn) which largely includes the locally-made BrahMos missiles, Shakti Electronic Warfare (EW) systems and maritime utility helicopters 2) Long Range Stand-Off Weapon for the Indian Air Force gets the nod; To be integrated on SU-30 MKI aircraft155mm/52 Caliber ATAGS, along with High Mobility & Gun Towing Vehicles, to be procured for Indian Army 3) Indian Coast Guard to get Advance Light Helicopters MK-III from HAL India drops defence imports: India’s defence imports declined by 11 per cent between 2013-17 and 2018-22 and this decline was linked to a complex procurement process, efforts to diversify arms suppliers and attempts to replace imports with local designs. India’s domestic procurement climbed to 68 per cent in FY22. WATCH | Rise of the Indian Defence Industry | Exports cross ₹130 Billion, imports down 11% × World seeks arms from India India’s defence exports are set to touch Rs 17,000 crore ($2.1bn) in FY23. India bagged an export order worth $155 million for 155-mm artillery guns and another deal for supplying Teevra 40-mm guns to the Indonesian Navy. Armenia signed a $250 million contract for India’s Pinaka missiles. 1) India will soon finalise a Brahmos deal with Indonesia and a follow on deal with the Philippines over and above the $ 375 million Brahmos deal signed last year. 2) India is supplying air-to-air missile launchers and sub-systems to MBDA France for Rafale fighter jets 3) India also exports bulletproof jackets, ballistic helmets, snow boots, and night vision devices used by soldiers in Europe, West Asia, Africa and ASEAN nations. India supplies the world We are witnessing India’s emergence as a defence-manufacturing hub as it supplies equipment and ammunition to the world: 1) India is making aero-structures for American Defence giant Boeing's AH-64 Apache helicopters 2) Airbus Defence And Space recently signed a Rs 21,935 crore ($2.7bn) deal to build C-295 medium-lift transport aircraft at Vadodara. 3) Another American defence giant Lockheed Martin has tied up with India to make wing sets for the F-16 Block 70 fighter aircraft. 4) Indian Army recently handed over 159 indigenously developed vehicles & equipment for UN Peacekeeping mission at UNISFA, Abyei. India presently exports defence supplies to over 80 countries. India’s next target is achieving defence manufacturing worth Rs 1,75,000 crore ($21.4bn), including defence exports of Rs 35,000 crore ($4.3Bn) by 2024-25. We can safely say that this is the emergence of the Indian Defence Industry – and world powers are taking note. (Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.) WATCH WION LIVE HERE:

The rise of Indian defence industry: Exports cross $1.6 billion, imports down 11%

On Sunday, Prime Minister Narendra Modi spoke on 'Mann Ki Baat' and emphasised the importance of Indian exports, stating that India had met its aim of $400 billion in exports.&nbsp;

"India has achieved the target of 400 billion dollar exports. It has filled us with pride This signifies India`s capabilities and potential. It means that the demand for Indian goods is rising in the world," said PM Modi.

He said that India is reaching different corners and new markets in the world.&nbsp;

"There was a time when the figure of exports from India used to be 100 billion, at times 150 billion, sometimes 200 billion. India has reached 400 billion dollars,".

Small business success, he remarked, is something to be proud of.

"Many fruits and vegetables are reaching the world, including apricots from Ladakh, bananas from Tamil Nadu, and millets from Himachal Pradesh. The list of 'Make in India' products is as long as our country's potential and the dedication of our farmers, manufacturers, and industry, "The Prime Minister stated.&nbsp;

The Prime Minister stated that it was previously believed that only big businesses could sell products to the government, but that this has changed thanks to the GeM Portal, demonstrating the spirit of a New India.

"When each and every Indian is vocal about the local, it does not take long for the local to become global. Lets make the local `global` and augment the prestige of our products further, "he added.

Speaking further, the Prime Minister said, "Today our small entrepreneurs are playing a major partnership role in government procurement through the Government e-Marketplace—GeM. A much more transparent system has been developed through technology."

India on March 23, scripted history of achieving its highest ever goods export target of $400 billion nine days ahead of schedule.&nbsp;

On average, every hour $46 million goods are exported, $1 billion goods are exported everyday and $33 billion every month.The exports in the financial year 2020-21 were $292 billion while the exports in 2021-22 are $400 billion with a 37 per cent rise.

(With inputs from agencies)

On Sunday, Prime Minister Narendra Modi spoke on 'Mann Ki Baat' and emphasised the importance of Indian exports, stating that India had met its aim of $400 billion in exports.

On Sunday, Prime Minister Narendra Modi spoke on 'Mann Ki Baat' and emphasised the importance of Indian exports, stating that India had met its aim of $400 billion in exports. "India has achieved the target of 400 billion dollar exports. It has filled us with pride This signifies India`s capabilities and potential. It means that the demand for Indian goods is rising in the world," said PM Modi. He said that India is reaching different corners and new markets in the world. "There was a time when the figure of exports from India used to be 100 billion, at times 150 billion, sometimes 200 billion. India has reached 400 billion dollars,". Small business success, he remarked, is something to be proud of. "Many fruits and vegetables are reaching the world, including apricots from Ladakh, bananas from Tamil Nadu, and millets from Himachal Pradesh. The list of 'Make in India' products is as long as our country's potential and the dedication of our farmers, manufacturers, and industry, "The Prime Minister stated. The Prime Minister stated that it was previously believed that only big businesses could sell products to the government, but that this has changed thanks to the GeM Portal, demonstrating the spirit of a New India. "When each and every Indian is vocal about the local, it does not take long for the local to become global. Lets make the local `global` and augment the prestige of our products further, "he added. Speaking further, the Prime Minister said, "Today our small entrepreneurs are playing a major partnership role in government procurement through the Government e-Marketplace—GeM. A much more transparent system has been developed through technology." India on March 23, scripted history of achieving its highest ever goods export target of $400 billion nine days ahead of schedule. On average, every hour $46 million goods are exported, $1 billion goods are exported everyday and $33 billion every month.The exports in the financial year 2020-21 were $292 billion while the exports in 2021-22 are $400 billion with a 37 per cent rise. (With inputs from agencies)

'Mann ki Baat': PM Modi hails India meeting export target of $400 billion

India is expected to export smartphones worth USD 1.5 billion (over Rs 11,113 crore) this year to various countries, including the UAE, the US and Russia, according to a report by research firm techARC.

TechARC, in its India Mobile Phone Exports Market Scan Report, pegged the total exports of smartphones to cross USD 1.5 billion by value in 2020, with smartphones accounting for over 98 per cent of the total mobile phones exported from the country.

"India has been exporting mobiles to destinations like UAE and neighbouring SAARC countries for quite some time. However, 'Make in India' initiative has made India a truly global exporter of mobile phones," techARC founder and Chief Analyst Faisal Kawoosa said.

He added that India currently exports to 24 countries, some of which are further re-exporting, like UAE, to other markets, making India-made phones available to millions of users. He further stated that the recently announced production-linked incentive (PLI) scheme will further strengthen India's positioning in the global mobile market and complement manufacturers' goal of making India a global hub of mobile production. PLI scheme extends an incentive of 4 to 6 per cent on incremental sales (over the base year) of goods under target segments that are manufactured in India to eligible companies, for a period of five years subsequent to the base year (2019-20).

Last month, the government had cleared 16 proposals from domestic and international companies entailing an investment of Rs 11,000 crore under the PLI scheme to manufacture mobile phones worth Rs 10.5 lakh crore over the next five years.

The techARC report said a total of 12.8 million mobile phones were exported from India between January and September this year. Of this, 10.9 million were smartphones. "COVID-19 had a severe impact on the exports with volume sharply falling to 1.2 million in April-June quarter from 7.4 million in January-March period. For July-September quarter, the exports were at 4.2 million units indicating recovery due to restoration of supply chain and logistics as well as resumption of work in Indian factories," the report added. Samsung leads the exports significantly with 11.6 million units of phones, distantly followed by Xiaomi at 0.6 million shipments, the report noted. Samsung exported 9.8 million units of smartphones, followed by Xiaomi at 0.6 million and Lava at 0.2 million smartphones. The other smartphone exporters in top 5 are Vivo and OnePlus.

"Lava has emerged as the 'torchbearer' Indian brand which is not only the lone domestic brand exporting mobiles but also pecks in top 5 brands," the report said. It added that while 21 brands are exporting mobile phones from India, 17 brands are exporting smartphones. Seven brands are exporting mobile phones from India to the US. Also, Samsung A51 is the most exported smartphone from India, while the top 10 smartphones exported from India are from Samsung.

India is expected to export smartphones worth USD 1.5 billion (over Rs 11,113 crore) this year to various countries, including the UAE, the US and Russia, according to a report by research firm techARC.

India is expected to export smartphones worth USD 1.5 billion (over Rs 11,113 crore) this year to various countries, including the UAE, the US and Russia, according to a report by research firm techARC. TechARC, in its India Mobile Phone Exports Market Scan Report, pegged the total exports of smartphones to cross USD 1.5 billion by value in 2020, with smartphones accounting for over 98 per cent of the total mobile phones exported from the country. "India has been exporting mobiles to destinations like UAE and neighbouring SAARC countries for quite some time. However, 'Make in India' initiative has made India a truly global exporter of mobile phones," techARC founder and Chief Analyst Faisal Kawoosa said. He added that India currently exports to 24 countries, some of which are further re-exporting, like UAE, to other markets, making India-made phones available to millions of users. He further stated that the recently announced production-linked incentive (PLI) scheme will further strengthen India's positioning in the global mobile market and complement manufacturers' goal of making India a global hub of mobile production. PLI scheme extends an incentive of 4 to 6 per cent on incremental sales (over the base year) of goods under target segments that are manufactured in India to eligible companies, for a period of five years subsequent to the base year (2019-20). Last month, the government had cleared 16 proposals from domestic and international companies entailing an investment of Rs 11,000 crore under the PLI scheme to manufacture mobile phones worth Rs 10.5 lakh crore over the next five years. The techARC report said a total of 12.8 million mobile phones were exported from India between January and September this year. Of this, 10.9 million were smartphones. "COVID-19 had a severe impact on the exports with volume sharply falling to 1.2 million in April-June quarter from 7.4 million in January-March period. For July-September quarter, the exports were at 4.2 million units indicating recovery due to restoration of supply chain and logistics as well as resumption of work in Indian factories," the report added. Samsung leads the exports significantly with 11.6 million units of phones, distantly followed by Xiaomi at 0.6 million shipments, the report noted. Samsung exported 9.8 million units of smartphones, followed by Xiaomi at 0.6 million and Lava at 0.2 million smartphones. The other smartphone exporters in top 5 are Vivo and OnePlus. "Lava has emerged as the 'torchbearer' Indian brand which is not only the lone domestic brand exporting mobiles but also pecks in top 5 brands," the report said. It added that while 21 brands are exporting mobile phones from India, 17 brands are exporting smartphones. Seven brands are exporting mobile phones from India to the US. Also, Samsung A51 is the most exported smartphone from India, while the top 10 smartphones exported from India are from Samsung.

India to export smartphones worth USD 1.5 billion

With exports showing signs of revival, Commerce Minister Nirmala Sitharaman has expressed hope that outbound shipments will see a steady growth in coming months and exceed last year&#39;s figures.

&quot;Many sectors are showing revival including petroleum based. So definitely, I can see a ray of hope that now it is going to be steady,&quot; Sitharaman told PTI in an interview.

When asked whether the export numbers would exceed last year&#39;s level, she said: &quot;Yes, because that (last year) was really dipping every month and now its picking up. In June, there was small growth, but 9.59 per cent in October is not a small figure. I hope we are able to keep that kind of a pace&quot;.

During the April-October period of current fiscal, exports dipped by 0.17 per cent to USD 154.91 billion. In 2015-16, the shipments stood at USD 262.29 billion.

Exporters&#39; body FIEO has said that exports may touch over USD 280 billion this fiscal.

The minister further said that exporters are making best efforts to be competitive in the global markets, ensuring that the currency fluctuations do not affect and also exploring newer markets.

&quot;We are hand holding them,&quot; she added.

Talking about the demand situation in the international markets, Sitharaman said that demand revival probably is &quot;patchy&quot;.

However, some signs of demand revival is there in economies which are giving some kind of impetus, she said adding that with increasing cost of labour in China, people see that India stands out in terms of competitiveness.

&quot;That may not be applicable for all sectors but considerably we are able to stand out even in this depressed demand global environment,&quot; Sitharaman said.

A strong show by engineering, petroleum and gems &amp; jewellery sectors pushed up exports for the second month in October by 9.59 per cent.

Exports of engineering products rose by 13.86 per cent, gems and jewellery by 21.84 per cent, petroleum by 7.24 per cent and chemicals by 6.65 per cent during the month.

From December 2014, exports had fallen for 18 straight months till May 2016 due to weak global demand and slide in oil prices. Shipments witnessed growth only in June this year then entered again into negative zone in July and August.

(PTI)

Exporters' body FIEO has said that exports may touch over USD 280 billion this fiscal

With exports showing signs of revival, Commerce Minister Nirmala Sitharaman has expressed hope that outbound shipments will see a steady growth in coming months and exceed last year's figures. "Many sectors are showing revival including petroleum based. So definitely, I can see a ray of hope that now it is going to be steady," Sitharaman told PTI in an interview. When asked whether the export numbers would exceed last year's level, she said: "Yes, because that (last year) was really dipping every month and now its picking up. In June, there was small growth, but 9.59 per cent in October is not a small figure. I hope we are able to keep that kind of a pace". During the April-October period of current fiscal, exports dipped by 0.17 per cent to USD 154.91 billion. In 2015-16, the shipments stood at USD 262.29 billion. Exporters' body FIEO has said that exports may touch over USD 280 billion this fiscal. The minister further said that exporters are making best efforts to be competitive in the global markets, ensuring that the currency fluctuations do not affect and also exploring newer markets. "We are hand holding them," she added. Talking about the demand situation in the international markets, Sitharaman said that demand revival probably is "patchy". However, some signs of demand revival is there in economies which are giving some kind of impetus, she said adding that with increasing cost of labour in China, people see that India stands out in terms of competitiveness. "That may not be applicable for all sectors but considerably we are able to stand out even in this depressed demand global environment," Sitharaman said. A strong show by engineering, petroleum and gems & jewellery sectors pushed up exports for the second month in October by 9.59 per cent. Exports of engineering products rose by 13.86 per cent, gems and jewellery by 21.84 per cent, petroleum by 7.24 per cent and chemicals by 6.65 per cent during the month. From December 2014, exports had fallen for 18 straight months till May 2016 due to weak global demand and slide in oil prices. Shipments witnessed growth only in June this year then entered again into negative zone in July and August. (PTI)

Exports to see steady growth, exceed last year's figure: India's commerce minister

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