Exports in India record $15 bn revenue in first half of August

23 Aug 2021 CW Team

On free trade agreements (FTAs) with nations, he asked the industry to internalise a give and take approach, where they also show a willingness to open the domestic market to foreign companies.

With the opening up of the major economies after the delays of the Covid-19 pandemic, Indian exports grew by about 50% to reach a lifetime high of $35.43 billion in July. The government aims to take merchandise exports to $400 billion for the fiscal year.

In the first 15 days of August, the exports have reached about $15 billion. From April to August 2021, exports are 23% higher compared to the same period last year.

Goyal told the media that the merchandise exports goal for FY23 would have to be kept at more than $400 billion and specified that he requires the overall exports to reach $2 trillion by 2030, contributed equally from the merchandise and services side.

On the FTAs, he said that Australia showed the highest interest in moving forward for an early harvest, while the UK will be the second in forging such an agreement.

Discussions are further on with UAE and another country in the Middle East for such a deal, he said, adding that in the case of the US, the discussions are on the back burner due to the new administration's reluctance to ink such agreements.

The minister believed that signing an FTA with Australia, a developed country with which India has progressed, will make it simpler to sign similar deals with others.

India is also in discussion with the European Union (EU), but getting the bloc on board will take some time as it has 27 countries, he said.

Since the country marches forward on inking such deals, which have the potential to boost bilateral trade and give India deeper access to markets, Goyal urged the industry to be more pragmatic.

Additionally, the minister said that Indian exporters would have to be conscious of quality and fix standards in a way that there is no differentiation between goods manufactured for domestic or international markets.

Image Source

Minister of Commerce and Industry Piyush Goyal told the media that the exports touched about $15 billion for the first half of August, after recording the highest-ever monthly performance in July at $35 billion. On free trade agreements (FTAs) with nations, he asked the industry to internalise a give and take approach, where they also show a willingness to open the domestic market to foreign companies. With the opening up of the major economies after the delays of the Covid-19 pandemic, Indian exports grew by about 50% to reach a lifetime high of $35.43 billion in July. The government aims to take merchandise exports to $400 billion for the fiscal year. In the first 15 days of August, the exports have reached about $15 billion. From April to August 2021, exports are 23% higher compared to the same period last year. Goyal told the media that the merchandise exports goal for FY23 would have to be kept at more than $400 billion and specified that he requires the overall exports to reach $2 trillion by 2030, contributed equally from the merchandise and services side. On the FTAs, he said that Australia showed the highest interest in moving forward for an early harvest, while the UK will be the second in forging such an agreement. Discussions are further on with UAE and another country in the Middle East for such a deal, he said, adding that in the case of the US, the discussions are on the back burner due to the new administration's reluctance to ink such agreements. The minister believed that signing an FTA with Australia, a developed country with which India has progressed, will make it simpler to sign similar deals with others. India is also in discussion with the European Union (EU), but getting the bloc on board will take some time as it has 27 countries, he said. Since the country marches forward on inking such deals, which have the potential to boost bilateral trade and give India deeper access to markets, Goyal urged the industry to be more pragmatic. Additionally, the minister said that Indian exporters would have to be conscious of quality and fix standards in a way that there is no differentiation between goods manufactured for domestic or international markets. Image Source

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

Resources

16 Sep 2025

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Real Estate

16 Sep 2025

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..