Central News Hub

Tag: EXPORT

  • Israeli exports of hi-tech services up 21.8% in Jan-Oct 2021

    Israeli exports of hi-tech services up 21.8% in Jan-Oct 2021

    Israel’s exports of hi-tech industries services, excluding start-up companies, rose by 21.8 per cent in the first ten months of 2021, according to a report published by the state’s Central Bureau of Statistics…reports Asian Lite News

    Exports of Israel’s hi-tech industries services increased from $28.44 billion in January-October 2020 to $34.65 billion in the same period in 2021, said the report published on Tuesday.

    Israeli exports of hi-tech services up 21.8% in Jan-Oct 2021

    Export of services refers to the sale and delivery of intangible products such as computing, advertising, telecommunications, construction, and accounting, Xinhua news agency reported.

    Meanwhile, Israel’s exports of services from start-up companies totaled $2.16 billion in the first 10 months of 2021, up by 209 per cent year on year, the report added.

    ALSO READ: Israel unemployment rate decline to lowest since Covid-19 outbreak

    Total Israeli exports of services rose by 32.6 per cent in the first 10 months from $43.83 billion to $58.1 billion, it said.

  • Moon Pins Hopes on Export

    Moon Pins Hopes on Export

    In the first 11 months of this year, South Korea’s cumulative exports came to $583.8 billion, the highest to date…reports Asian Lite News

    President Moon Jae-in said on Monday that South Korea’s trade is expected to amount to an all-time high of more than $1.2 trillion this year on the back of strong exports in a sign that the nation’s economic recovery is faster than anticipated.

    “Exports are forecast to exceed $630 billion and trade volume is expected to surpass $1.2 trillion,” Yonhap News Agency quoted Moon as saying while addressing a ceremony marking the 58th Trade Day.

    Moon Pins Hopes on Export

    In the first 11 months of this year, South Korea’s cumulative exports came to $583.8 billion, the highest to date, according to government data.

    The government expected exports to hit an all-time high in mid-December by beating the previous yearly record of $604.9 billion set in 2018.

    Total trade volume stood at $1.14 in the first 11 months of this year.

    Moon said South Korea’s economy showed signs of the fastest recovery among the G20 nations.

    To cope with the pandemic-triggered global supply chain concerns, Moon said South Korea launched an early warning system to monitor some 4,000 key industry materials and items.

    The government will spare no efforts to stabilize supply of such industrial materials by diversifying import sources and increasing their stockpiles, he said.

    ALSO READ: Bangladesh is Booming!

    The President also noted that Korea is moving forward to achieve the bold goal of becoming carbon neutral by 2050.

    “The world is going carbon neutral. Only companies and products that reduce carbon emissions will become competitive under the new trade order.”

  • Aim for $450-$500 bn exports next year: Goyal

    Aim for $450-$500 bn exports next year: Goyal

    The minister also said that engineering goods have much more potential, while textile exports should aim for $100 billion. …reports Asian Lite News

     Union Minister Piyush Goyal on Saturday called upon various Export Promotion Councils (EPCs) to aim for $450-$500 billion exports next year.

    Addressing a mid-term review meeting with the heads of various EPCs, Goyal, the Union Minister of Commerce and Industry, pointed out that India’s exports have bounced back, touching $197 billion in the first half of FY2021-22.

    Goyal said with 48 per cent targeted volumes achieved, “we are on the right track”.

    The minister also said that engineering goods have much more potential, while textile exports should aim for $100 billion.

    “You must have seen we are coming out with various schemes,” said Goyal, referring to the several PLI schemes announced by the Centre recently.

    Additionally, Goyal pointed out that the Centre is negotiating FTAs with various countries and blocs, including the UK, the UAE, Oman, Australia, Canada, EU, Russia and the Southern African Customs Union (SACU) comprising Botswana, Lesotho, Namibia, South Africa and Swaziland.

    “Equitable, fair and balanced and to the benefit of the Indian exporters, you will have to raise whatever are your concerns,” Goyal said, adding that mostly the issues are related to market access rather than tariffs.

    On the issue of high global price of polymers and uniform application of environment laws, Goyal assured that the Commerce Department will take it up with the Environment Ministry to allow import of virgin plastics scrap and related issues.

    He also asked the export councils to identify and name the exporters whose products fail to meet international standards and are often rejected due to inferior quality.

    “Quality will define the future of our exports,” he said.

    ALSO READ: Seductive crypto ads leave Indian investors in dilemma

    ALSO READ: India, Japan See Kenya As Key To Indo-Pacific

  • India aiming for $400 bn merchandise exports in 2021-22

    India aiming for $400 bn merchandise exports in 2021-22

    The Union Government is celebrating ‘Vanijya Saptah’ from September 20-26 in every state and Union Territory to highlight India’s potential for trade and exports…reports Asian Lite News.

    Union Minister for State for Commerce and Industry Som Prakash on Tuesday said despite the global slowdown on account of Covid, the country’s merchandise exports are showing an increasing trend.

    “The Ministry of Commerce has been taking various steps to facilitate agricultural exports, and initiatives have been taken to achieve merchandise exports worth $400 billion in financial year 2021-22,” he said, while inaugurating the Vanijya Utsav in Kochi virtually.

    Vanijya Utsav is being organised in hybrid mode here as part of the Vanijya Saptah programme of the Ministry to commemorate Azadi Ka Amrut Mahotsav – the celebration of 75 years of India’s independence.

    The Union Government is celebrating ‘Vanijya Saptah’ from September 20-26 in every state and Union Territory to highlight India’s potential for trade and exports.

    Prakash said that Kerala holds immense potential for further growth in the commerce and industrial sector due to good connectivity and communication network, availability of skilled and well-educated human resource in addition to the availability of spices.

    Besides, it has well-developed tourism and hospitality, and health care sectors which are a model for the rest of the country.

    Minister of State for External Affairs V. Muraleedharan said the synergy between commerce and external affairs verticals of India as well as line departments of state governments are significant aspects for enhancing India’s export prospects, in line with the vision of Prime Minister Narendra Modi to achieve an export target of $400 bn merchandise exports.

    ALSO READ-Nov Merchandise Exports Go Down 8.74%, Imports by 13.32%

  • NE states urged to promote export to achieve $400bn target

    NE states urged to promote export to achieve $400bn target

    “This is especially significant in the context of realising the vision of Prime Minister Narendra Modi articulated during his address to the Nation on August 6, 2021,” the MEA release said…reports Asian Lite News.

    Minister of State for External Affairs Dr Rajkumar Ranjan Singh urged the North Eastern states to proactively harness the goodwill for India around the world in promoting export and attracting foreign investment into the region to achieve the target of USD400 billion export per annum.

    The Minister said so while interacting with Resident Commissioners of the North-Eastern region in New Delhi on Friday.

    The first of its kind meeting was held to understand first hand from the States in the North-East Region as to how the Ministry of External Affairs can facilitate their international engagement, the MEA said in a statement.

    “This is especially significant in the context of realising the vision of Prime Minister Narendra Modi articulated during his address to the Nation on August 6, 2021,” the MEA release said.

    The Residential Commissioners and Nodal Officers from eight North-Eastern States – Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Tripura Nagaland and Sikkim- attended the meeting.

    Earlier in his welcome remarks, C. Rajasekhar, OSD (States), said the MEA’s focus on the North-Eastern Region is key to the nation’s security and prosperity.

    Secretary (ER) Shri Dammu Ravi summed up the productive deliberations and guided the meeting on the next steps. These include a North East Round Table to be launched for the first time in Imphal, Manipur, later this year. (India News Network)

    ALSO READ-Kerry’s Visit to Speed Up India’s Clean Energy Transition

    READ MORE-Afghan embassies, including one in India, turn their back on Taliban