TRADE UPDATE #186

Promising Path Ahead for Indian Exports

09/06/2025

2023 begins with the government being set to take measures to boost the electronics manufacturing ecosystem in the country. MSMEs will soon have their own registration portal by SIDBI. PLI scheme for textiles has an approved financial outlay of Rs 10,683 crore so this sector can achieve size and scale and to become competitive globally. India’s agreement with Australia is live and will double the bilateral commerce to $45-50 billion in around five years.

EXPORTS

PM's vision is mobile phone exports of ₹1 lakh cr for 2023 : R Chandrasekhar

Prime Minister Narendra Modi's vision for 2023 is to have mobile phone exports with the segment featuring in the top 10 export category from India, Minister of State for Electronics and IT Rajeev Chandrasekhar said.


TRADE

India can be among top 10 countries in global maritime trade ranking: Sonowal

Union Minister Sarbananda Sonowal on Friday said India can be among the top ten countries in the global ranking of maritime merchandise trade with giant strides taken by the government for modernisation and capacity building in the sector. Sonowal, the minister for ports, shipping and waterways, said the Centre is carrying out development in a sustainable way to meet the 2070 net zero emission target.


MSME

Coming soon: Udyam-like registration portal for MSMEs

Now MSMEs operating in the country would have another official portal, apart from the existing Udyam Registration portal, to register themselves and avail the benefits of priority sector lending. The upcoming portal Udyam Assist Platform (UAP) by SIDBI will cater to the registration of informal units as part of the endeavour by the government and SIDBI to enhance the formalisation of the MSME sector.


BILATERAL TRADE

India-Australia trade pact to come into force from December 29, over 6,000 products to get free access

The interim free trade agreement between India and Australia will come into force on Thursday, providing duty-free access to thousands of domestic goods such as textiles, and leather in the Australian market. The agreement will help almost double the bilateral commerce to $45-50 billion in around five years, according to exporters and industry players.


EXPORTS

Investments worth Rs 1,536 cr made by textiles industry under PLI scheme: Ministry

Investments to the tune of about Rs 1,536 crore have been made so far in the textiles industry under the Production-Linked Incentive, said the Ministry of Textiles. As part of its Atmanirbhar plan, the Government launched Production Linked Incentive (PLI) schemes in varied sectors to make Indian manufacturers globally competitive, attract investments, enhance exports, integrate India into the global supply chain and reduce dependency on imports.


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