Loading...

⚠ ✕
❮ Top
☎ Help
☰
GST ▸
Central GST ▸
Integrated GST + ▸
UTGST / SGST ▸
GST Case Laws + ▸
Income Tax ▸
Income Tax ▸
Allied (Direct Tax) ▸
Income Tax Case Laws ▸
DTAA ▸
International Taxation ▸
Customs ▸
Customs Act / Rules ▸
Notifications / Forms ▸
Circulars / Tariff ▸
Case Laws / Manual ▸
FTP/SEZ ▸
Foreign Trade ▸
Notifications / Circulars / Appendix / Forms ▸
Special Economic Zone (SEZ) ▸
Corp. Law ▸
Company Laws ▸
Standards / Trusts ▸
Partnership / LLP / Societies ▸
Case Laws ▸
FEMA ▸
FEMA / FCRA ▸
Notifications / Circulars ▸
Manual / FAQ ▸
FEMA Case Laws ▸
SEBI / IBC ▸
SEBI ▸
SEBI Case Laws ▸
IBC ▸
IBC - Case Laws ▸
PMLA ▸
Benami Property ▸
Black Money ▸
Money Laundering ▸
Vivad ▸
Direct Tax ▸
Indirect Taxes ▸
Indian Laws ▸
Indian Laws ▸
Bharatiya Nyaya 2023 ▸
Finance Acts & Bills / Amendment Acts ▸
Case Laws ▸
Labour Laws ▸
Labour Code ▸
Old / Others ▸
Central Excise ▸
Central Excise - Cases ▸
Wealth Tax ▸
Service Tax ▸
Service Tax Cases ▸
CST / DVAT ▸
CST / VAT / Sales Tax ▸
×

By creating an account you can:

Logo TaxTMI
Keyword Search :
AI Tools : New
Ask tax questions in natural language. Powered by AI trained on the TaxTMI legal database. Use AI Tools ➞
Call Us / Help / Feedback✕

Contact Us At :

✉ E-mail: [email protected]

✆ Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search ✕
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
    6. Text Search
  6. The system will try to fetch results that contains ALL your words.
  7. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
    8. Text Search
╳
Add to...
You have not created any category. Kindly create one to bookmark this item!
✕
Create New Category
Hide
Title :
Description :
❮❮ Hide
❮ Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search ❯
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text ❯
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ---- ❯
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ---- ❯
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ---- ❯
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    August 11, 2026
    Sales Tax Assistant Commissioner arrested for demanding bribe of Rs 8 lakh
    August 11, 2026
    Net direct tax kitty grows 23 pc to Rs 8.11 lakh cr on slower refunds, higher non-corp taxes
    August 11, 2026
    Delhi court sets aside summon order in cheque bounce case
    August 11, 2026
    BRICS grouping discussing linking CBDCs, fast payment systems: RBI Guv Malhotra
    August 11, 2026
    PM GatiShakti National Master Plan Enables Integrated and Coordinated Infrastructure Planning
    August 11, 2026
    GeM Strengthens Participation of MSMEs, Startups, Women Entrepreneurs and SHGs
    August 11, 2026
    Net direct tax collection grows 23 pc to Rs 8.11 lakh cr so far this fiscal
    August 11, 2026
    National Accreditation Board for Testing and Calibration Laboratories Launches India’s First Accreditation Scheme for Mobile Food Testing Laboratori...
    August 11, 2026
    Commerce and Industry Minister Shri Piyush Goyal awards top buyers and sellers on GEM platform at the 10th Anniversary celebrations of GEM
    August 11, 2026
    PolicyBazaar working with partners to fast-track Assam flood insurance claims
    August 11, 2026
    ED arrests Chhattisgarh Congress leader in liquor 'scam' case
    August 11, 2026
    ED arrests Chhattisgarh Congress leader in liquor scam case
    August 11, 2026
    Register FIR in cases of missing persons immediately, irrespective of age or gender: SC
    August 11, 2026
    ED freezes 182 bank accounts, seizes Rs 1 cr cash in connection to Rs 2k crore chit-fund scam
    August 11, 2026
    Rupee falls 8 paise to 95.38 against US dollar in early trade
    August 10, 2026
    Punjab Assembly passes nine key bills
    August 10, 2026
    Mumbai court denies nod to Nirav Modi's sister to record her statement via video link in PNB case
    August 10, 2026
    'Organised loot' of Rs 2.86 lakh crore from people's pockets: Surjewala accuses govt
    August 10, 2026
    Naresh Goyal seeks discharge from money laundering case; court asks prosecution to reply to plea
    August 10, 2026
    Parliamentary panel seeks details on Railways’ efforts to boost domestic bullet train capabilities
❮
❯
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

Open Link
News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
August 11, 2026
Sales Tax Assistant Commissioner arrested for demanding bribe of Rs 8 lakh
Show AI Summary
GST inquiry closure bribery allegations prompted anti-corruption proceedings against a Sales Tax officer under corruption law.
Alleged bribery in GST inquiry closure led to the arrest of a Sales Tax Assistant Commissioner after a scrap trader complained of a demand for illegal gratification to close an inquiry initiated through a GST show-cause notice. Anti-corruption officials reportedly verified the allegation through intermediaries, during which the officer allegedly agreed to accept payment for closing the matter. A criminal case was registered under the Prevention of Corruption Act, with further investigation ongoing.
August 11, 2026
Net direct tax kitty grows 23 pc to Rs 8.11 lakh cr on slower refunds, higher non-corp taxes
Show AI Summary
Direct tax collection growth reflected stronger non-corporate taxes and securities transaction tax receipts alongside slower refund issuances.
Net direct tax collections increased by 23 per cent to over Rs 8.11 lakh crore through August 10, driven by higher non-corporate tax collections and slower refund growth. Gross direct tax collections grew by 19.75 per cent to about Rs 9.55 lakh crore. Net corporate tax collections rose about 20 per cent, net non-corporate tax collections rose 23 per cent, and Securities Transaction Tax collections increased 51 per cent. Refund issuances grew by 3.8 per cent year-on-year.
August 11, 2026
Delhi court sets aside summon order in cheque bounce case
Show AI Summary
Vicarious liability in cheque dishonour cases cannot attach to trust associates without statutory status or transaction-specific involvement.
Vicarious criminal liability for cheque dishonour under section 141 of the Negotiable Instruments Act does not extend to a trust, because a trust is not a juristic person. A person cannot be summoned merely for alleged active involvement in a trust where the person was neither drawer nor signatory of the cheques, trustee, office-bearer, authorised account operator, guarantor, or executor of transaction documents.
August 11, 2026
BRICS grouping discussing linking CBDCs, fast payment systems: RBI Guv Malhotra
Show AI Summary
Cross-border payment integration through CBDCs and fast payment systems remains under BRICS discussion to reduce transfer costs.
Cross-border payment integration is under discussion through potential linkages between central bank digital currencies and fast payment systems, including UPI-type platforms. These approaches seek faster and less costly trade and remittance transfers, particularly retail payments, but remain at a discussion stage. Rupee internationalisation is also being pursued through central-bank memorandums of understanding for bilateral trade settlement in local currencies, with existing arrangements covering Indonesia, Maldives, Mauritius and the UAE.
August 11, 2026
PM GatiShakti National Master Plan Enables Integrated and Coordinated Infrastructure Planning
Show AI Summary
Integrated infrastructure planning under PM GatiShakti coordinates project evaluation, multimodal connectivity, geospatial data use, and decentralized implementation.
PM GatiShakti National Master Plan provides an integrated, data-driven infrastructure planning framework using geospatial data, satellite imagery and API integration. Project approval, implementation and funding remain with the respective Central Ministries, Departments and States or Union Territories under their own plans and budgetary provisions; the framework sets no separate budgetary allocation or quantified targets. The Network Planning Group evaluates critical Central Government projects at the planning stage for multimodality, synchronisation, last-mile connectivity, comprehensive local development and coordinated decision-making.
August 11, 2026
GeM Strengthens Participation of MSMEs, Startups, Women Entrepreneurs and SHGs
Show AI Summary
MSME procurement through GeM has expanded alongside analytics-driven controls against suspicious bidding, collusion, and vendor misconduct.
GeM uses AI/ML analytics to detect order splitting, suspicious bidding, abnormal pricing, repeated participation and potential buyer-seller collusion. Flagged cases are placed before buyer organisations for review and action, while suspected cartels are assessed through digital-footprint, pricing and bid-timing indicators. Its Incident Management framework addresses false documents, fraud, collusive behaviour and other misconduct through administrative measures, including suspension. Anti-competitive conduct and cartel formation are Severe/Grave deviations, with proven cases attracting suspension for up to 365 days.
August 11, 2026
Net direct tax collection grows 23 pc to Rs 8.11 lakh cr so far this fiscal
Show AI Summary
Direct tax collections show stronger corporate, non-corporate and securities transaction tax receipts, alongside increased refunds during the fiscal period.
Net direct tax collections grew by 23.09 per cent to over Rs 8.11 lakh crore up to August 10 of the current fiscal year, while gross direct tax collections increased by 19.75 per cent to about Rs 9.55 lakh crore. Corporate tax, non-corporate tax including personal income tax, and Securities Transaction Tax receipts recorded growth. Refunds issued between April 1 and August 10 also rose over the corresponding earlier period. Direct tax collections are budgeted at Rs 26.97 lakh crore for the fiscal year.
August 11, 2026
National Accreditation Board for Testing and Calibration Laboratories Launches India’s First Accreditation Scheme for Mobile Food Testing Laboratories
Show AI Summary
Mobile food testing laboratory accreditation expands quality-assured testing access and supports coordinated food-safety surveillance and regulatory efficiency.
NABL has launched an Accreditation Scheme for Mobile Food Testing Laboratories under the Integrated Assessment Programme. The framework enables mobile laboratories to provide reliable, quality-assured and internationally benchmarked food-testing services closer to communities, extending accredited testing beyond conventional laboratory settings. It is intended to strengthen food-safety surveillance, improve access to quality testing, support faster regulatory intervention and enhance consumer confidence. Coordinated assessments, regulatory harmonisation and mutual recognition are also intended to reduce duplication and improve regulatory efficiency while maintaining quality and compliance standards.
August 11, 2026
Commerce and Industry Minister Shri Piyush Goyal awards top buyers and sellers on GEM platform at the 10th Anniversary celebrations of GEM
Show AI Summary
Digital public procurement will expand AI-led price intelligence, marketplace integrity, inclusive access, credit linkages and sustainable purchasing.
Government e-Marketplace is advancing an AI-enabled public procurement ecosystem focused on efficiency, transparency, competition, price intelligence and marketplace integrity. Priorities include last-mile access through Suvidha Kendras, integration of public entities, credit linkages, sustainable procurement and university outreach. A nationwide five-digit Helpdesk short code, 14550, mapped to existing infrastructure, is intended to maintain service continuity and improve access to support and official communications. The platform seeks to provide enterprises with a more accessible and predictable procurement market and buyers with a data-driven procurement experience.
August 11, 2026
PolicyBazaar working with partners to fast-track Assam flood insurance claims
Show AI Summary
Expedited flood insurance claims require insurers and partners to simplify documentation and provide immediate service to affected policyholders.
Expedited insurance-claim handling for flood-affected policyholders in Assam is being pursued through simplified documentation, prompt settlement and immediate service response. PolicyBazaar is coordinating with insurer partners to reduce processing delays. The Insurance Regulatory and Development Authority of India has directed insurers, including life insurers and standalone health insurers, to mobilise resources for immediate assistance, alongside governmental efforts for expeditious and hassle-free claim disposal.
August 11, 2026
ED arrests Chhattisgarh Congress leader in liquor 'scam' case
Show AI Summary
Money laundering investigation in alleged liquor scam leads to arrest and proposed custodial-remand proceedings under anti-money-laundering law.
Money laundering investigation concerning an alleged liquor scam in Chhattisgarh led to the arrest of Congress leader Ramgopal Agrawal under the Prevention of Money Laundering Act. Custodial remand is to be sought for interrogation. The allegations concern an alleged syndicate that purportedly controlled the state excise department, enabled illegal liquor sales and distributed resulting commissions. Chargesheets name political figures, excise officials and officials associated with the Chief Minister's Office.
August 11, 2026
ED arrests Chhattisgarh Congress leader in liquor scam case
Show AI Summary
Money-laundering investigation into an alleged liquor scam leads to arrest and proposed custodial interrogation under the prevention law.
Money-laundering investigation under the Prevention of Money Laundering Act concerns an alleged liquor scam in Chhattisgarh. A former state political party treasurer has been arrested for alleged involvement and is to be produced before a local court for a request for custodial interrogation. The alleged scheme is stated to have involved control of the state excise department by a criminal syndicate, with multiple accused named in six chargesheets.
August 11, 2026
Register FIR in cases of missing persons immediately, irrespective of age or gender: SC
Show AI Summary
Immediate FIR registration for every missing person is mandatory, with missing children treated as suspected kidnapping or abduction cases.
Immediate FIR registration is required whenever information is received that any person is missing, irrespective of age or gender, without preliminary inquiry. Missing-person FIRs must include relevant provisions concerning kidnapping and trafficking. A missing child must be treated from the outset as a suspected case of kidnapping or abduction. States and Union Territories may face contempt action for non-compliance. Traced children should ordinarily be restored to their families within 24 hours unless trafficking or exploitation by the family is suspected.
August 11, 2026
ED freezes 182 bank accounts, seizes Rs 1 cr cash in connection to Rs 2k crore chit-fund scam
Show AI Summary
Money-laundering investigation targets alleged chit-fund collections, investor-fund diversion, concealed deposits, and irregular land transactions.
Money-laundering investigation into an alleged multi-state chit-fund scheme involved searches at premises linked to Wellfare Buildings and Estates Pvt Ltd and its directors, seizure of cash, vehicles, property-related records and digital devices, and freezing of bank accounts. The alleged scheme concerns unauthorised public-fund collection through land-allotment schemes, followed by closure of operations. Allegations include diversion of investor funds, manipulation of financial statements to conceal deposits, and irregular land transactions intended to suppress actual consideration and evade statutory obligations.
August 11, 2026
Rupee falls 8 paise to 95.38 against US dollar in early trade
Show AI Summary
Rupee exchange-rate pressure intensified as crude oil, regional uncertainty and weaker equities constrained the local currency in early trade.
Foreign-exchange market conditions placed the rupee under pressure against the US dollar amid West Asia uncertainty, higher crude oil prices, and weaker domestic equity markets. Foreign institutional investor inflows and Reserve Bank of India intervention supported the rupee and limited further depreciation. Reported dollar sales through state-run banks helped contain downside pressure despite rising Brent crude prices and uncertainty concerning the Strait of Hormuz.
August 10, 2026
Punjab Assembly passes nine key bills
Show AI Summary
GST refund facilitation expands provisional input tax credit refunds and removes the minimum threshold for export-related IGST refunds.
Punjab's GST amendments facilitate voluntary compliance and reduce procedural burdens by allowing a 90 per cent provisional input tax credit refund in inverted duty structure cases and removing the minimum threshold for IGST refunds on exported goods. Additional measures cap annual fee increases by private unaided educational institutions, establish digital open universities for technology-enabled higher education, protect trees and green cover, and address common infrastructure, panchayati raj, and contractual engagement of outsourced State personnel.
August 10, 2026
Mumbai court denies nod to Nirav Modi's sister to record her statement via video link in PNB case
Show AI Summary
Video-conference statements for an approver application were declined, requiring the accused's statement to be recorded before consideration.
Special CBI Court rejected an accused's request to record her statement through video conferencing in a bank-fraud prosecution. The accused had sought to become an approver, and her statement was required to be recorded before consideration of that application. She and her husband had previously become approvers in a related money-laundering matter involving alleged fraudulent Letters of Undertaking.
August 10, 2026
'Organised loot' of Rs 2.86 lakh crore from people's pockets: Surjewala accuses govt
Show AI Summary
Fuel price transparency highlights allegations over excise duty, consumer retail costs, and profit disclosures by state-run oil marketing companies.
Fuel pricing, central excise duty and profits of state-run oil marketing companies are examined through allegations that retail fuel prices and tax policy imposed excessive costs on consumers while generating substantial company profits. The criticism contrasts high crude-price periods with lower retail prices and lower excise duty against a later period in which reduced crude prices were allegedly not passed through to consumers. Profit-margin disclosure is also raised as a transparency issue, with parliamentary information described as covering oil prices, global crude prices and company profits.
August 10, 2026
Naresh Goyal seeks discharge from money laundering case; court asks prosecution to reply to plea
Show AI Summary
Discharge in money-laundering proceedings turns on whether pre-charge material sufficiently establishes the alleged offence.
Discharge in a money-laundering prosecution was sought before a special PMLA court concerning alleged siphoning and laundering of loans advanced to Jet Airways by Canara Bank. The prosecution was directed to respond, subject to the applicant not seeking adjournment. Discharge is available after filing of a chargesheet and before framing of charges where the material before the court is insufficient to establish the alleged offence. The proceedings arise from a CBI FIR concerning alleged bank fraud involving Jet Airways and associated persons.
August 10, 2026
Parliamentary panel seeks details on Railways’ efforts to boost domestic bullet train capabilities
Show AI Summary
High-speed rail indigenisation and infrastructure performance monitoring require skills development, comparative planning, measurable station assessments and freight-terminal dashboards.
Parliamentary oversight calls for accelerated indigenisation of high-speed rail components, capacity-building through international expertise, and comparative study of successful high-speed rail systems for future corridors. Redeveloped stations should be assessed through measurable indicators concerning passenger use, accessibility, cleanliness, commercial occupancy, maintenance and feedback, with completed-project practices documented and shared. Operational cargo terminals and cargo-related facilities should be monitored through a digital dashboard covering utilisation, rake performance, mechanisation, connectivity, safety compliance and customer satisfaction.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Home › news › Customs, DGFT & SEZ › 2024 › June, 2024 › This
Back

All News

Showing Results for : Reset Filters
Customs, DGFT & SEZ

India’s total exports estimated to grow at 10.25 % in May 2024; cumulative overall exports during April-May 2024 estimated to grow at 9.21%

June 14, 2024

Contents
Summary
Note

Note

-

Bookmark

Print

Print

Print Options

Merchandise exports register positive growth of 9.10% at USD 38.13 Billion in May 2024 as compared to USD 34.95 Billion in May 2023

Cumulative value of exports during April-May 2024 stands at USD 73.12 Billion as compared to USD 69.57 Billion during April-May 2023, registering a positive growth of 5.10%

Non-petroleum & Non-Gems & Jewellery exports register an increase of 8.83% from USD 26.27 Billion in May 2023 to USD 28.60 Billion in May 2024

Major drivers of merchandise exports growth in May 2024 include Petroleum Products, Engineering Goods, Electronic Goods, Drugs & Pharmaceuticals, RMG of all Textiles and Plastic & Linoleum

Petroleum products exports increase by 15.75% from USD 5.85 Billion in May 2023 to USD 6.78 Billion in May 2024

Engineering Goods exports increase by 7.39% from USD 9.3 Billion in May 2023 to USD 9.99 Billion in May 2024

Electronic goods exports increase by 22.97% from USD 2.41 Billion in May 2023 to USD 2.97 Billion in May 2024

Drugs and pharmaceuticals exports increase by 10.45% from USD 2.08 Billion in May 2023 to USD 2.30 Billion in May 2024

RMG of all Textiles exports increase by 9.84% from USD 1.24 Billion in May 2023 to USD 1.36 Billion in May 2024

Plastic & Linoleum exports increase by 16.6% from USD 0.65 Billion in May 2023 to USD 0.76 Billion in May 2024

India’s total exports (Merchandise and Services combined) for May 2024* is estimated at USD 68.29 Billion, registering a positive growth of 10.25 percent vis-à-vis May 2023.Total imports (Merchandise and Services combined) for May 2024* is estimated at USD 79.20 Billion, registering a positive growth of 7.95 percent vis-à-vis May 2023.

Table 1: Trade during May 2024*

 

 

May 2024

(USD Billion)

May 2023

(USD Billion)

Merchandise

Exports

38.13

34.95

Imports

61.91

57.48

Services*

Exports

30.16

26.99

Imports

17.28

15.88

Total Trade

(Merchandise +Services) *

Exports

68.29

61.95

Imports

79.20

73.36

Trade Balance

-10.90

-11.41

* Note: The latest data for services sector released by RBI is for April2024. The data for May 2024 is an estimation, which will be revised based on RBI’s subsequent release.

Fig 1: Total Trade during May 2024*

India’s total exports during April-May2024* is estimated at USD 133.61 Billion registering a positive growth of 9.21 percent. Total imports during April-May 2024* is estimated at USD 149.92 Billion registering a growth of 9.93 percent.

Table 2: Trade during April-May 2024*

 

 

April-May 2024

(USD Billion)

April-May 2023

(USD Billion)

Merchandise

Exports

73.12

69.57

Imports

116.01

106.54

Services*

Exports

60.49

52.77

Imports

33.91

29.84

Total Trade

(Merchandise +Services) *

Exports

133.61

122.35

Imports

149.92

136.38

Trade Balance

-16.31

-14.03

 

Fig 2: Total Trade during April-May 2024* 

  

MERCHANDISE TRADE

  • Merchandise exports during May 2024 were USD 38.13 Billion as compared to USD 34.95 Billion in May 2023.

  • Merchandise imports during May 2024 were USD 61.91 Billion as compared to USD 57.48 Billion in May 2023.

Fig 3: Merchandise Trade during May 2024

  • Merchandise exports during April-May 2024 were USD 73.12 Billion as compared to USD 69.57Billion during April-May 2023.

  • Merchandise imports during April-May 2024 were USD 116.01 Billion compared to USD 106.54 Billion during April-May 2023.

  • Merchandise trade deficit during April-May 2024 was USD 42.89 Billion compared to USD 36.97 Billion during April-May 2023.

Fig4: Merchandise Trade during April-May 2024

  • Non-petroleum and non-gems & jewellery exports in May 2024 were USD 28.60Billion compared to USD 26.27Billion in May 2023.

  • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in May 2024 were USD 36.59Billion compared to USD 36.31Billion in May 2023.

Table 3: Trade excluding Petroleum and Gems &Jewellery during May 2024

 

May 2024

(USD Billion)

May 2023

(USD Billion)

Non- petroleum exports

31.36

29.10

Non- petroleum imports

41.97

41.91

Non-petroleum &Non-Gems & Jewellery exports

28.60

26.27

Non-petroleum &Non-Gems & Jewellery imports

36.59

36.31

Note: Gems &Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

Fig 5: Trade excluding Petroleum and Gems &Jewellery during May 2024

  • Non-petroleum and non-gems & jewellery exports in April-May 2024 were USD 54.71 Billion, compared to USD 52.05 Billion in April-May 2023.

  • Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April-May 2024 were USD 69.31 Billion, compared to USD 68.44 Billion in April-May 2023.

Table 4: Trade excluding Petroleum and Gems &Jewellery during April-May 2024

 

April-May 2024

(USD Billion)

April-May 2023

(USD Billion)

Non- petroleum exports

59.73

57.30

Non- petroleum imports

79.60

77.27

Non-petroleum &Non Gems & Jewellery exports

54.71

52.05

Non-petroleum &Non Gems & Jewellery imports

69.31

68.44

Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-May 2024

SERVICES TRADE

  • The estimated value of services export for May 2024* is USD 30.16 Billion as compared to USD 26.99Billion in May 2023.

  • The estimated value of services imports for May 2024* is USD 17.28 Billion as compared to USD 15.88Billion in May 2023.

 

Fig 7: Services Trade during May 2024*

  • The estimated value of service exports during April-May 2024* is USD 60.49 Billion as compared to USD 52.77 Billion in April-May 2023.

  • The estimated value of service imports during April-May 2024* is USD 33.91 Billion as compared to USD 29.84 Billion in April-May 2023.

  • The services trade surplus for April-May 2024* is USD 26.58 Billion as compared to USD 22.94 Billion in April-May 2023.

Fig 8: Services Trade during April-May 2024*

Exports of Coffee (64.23%), Tobacco (58.38%), Electronic Goods (22.97%), Meat, dairy & poultry products (22.95%), Fruits & Vegetables (20.75%), Handicrafts excl. handmade carpet (20.63%), Tea (19.57%), Carpet (17.55%), Plastic & Linoleum (16.6%), Petroleum Products (15.75%), Cereal preparations & miscellaneous processed items (14.31%), Drugs & Pharmaceuticals (10.45%), RMG of all Textiles (9.84%), Cotton Yarn/Fabs./made-ups, Handloom Products etc. (9.75%), Engineering Goods (7.39%), Oil seeds (5.75%), Man-made Yarn/Fabs./made-ups etc. (4.65%), Organic & Inorganic Chemicals (3.21%), Rice (2.76%) and Mica, Coal & Other Ores, Minerals including processed minerals (1.08%) record positive growth during May 2024 over the corresponding month of last year.

Imports of Project goods (-44.31%), Coal, Coke & Briquettes, etc.(-26.55%),Cotton Raw & Waste(-24.46%),Sulphur & Unroasted Iron Pyrts(-20.92%), Fertilisers, Crude & manufactured(-20.42%), Leather & leather products(-20.05%), Chemical material & products (-9.81%), Gold (-9.76%), Wood & Wood products(-7.2%),Iron & Steel (-6.65%),Dyeing/tanning/colouring mtrls.(-5.1%),Newsprint(-4.49%), Textile yarn Fabric, made-up articles(-1.15%) and Organic & Inorganic Chemicals(-0.49%) record negative growth during May 2024 over the corresponding month of last year.

Services exports is estimated to grow by 14.63percent during April-May 2024* over April-May 2023.

Top 5 export destinations, in terms of change in value, exhibiting positive growth in May 2024 vis a vis May 2023 are U S A (13.06%), Netherland (43.92%), U Arab Emts (19.43%), Malaysia (86.95%) and U K (33.54%).

Top 5 export destinations, in terms of change in value, exhibiting positive growth in April-May 2024 vis a vis April-May 2023 are U S A (12.66%), Netherland (40.87%), U Arab Emts (16.16%), Singapore (36.65%) and Malaysia (64.03%).

Top 5 import sources, in terms of change in value, exhibiting growth in May 2024 vis a vis May 2023 are U Arab Emts (49.93%), Iraq (58.68%), Russia (18.02%), Angola (1274.95%) and Indonesia (23.36%).

Top 5 import sources, in terms of change in value, exhibiting growth in April-May 2024 vis a vis April-May2023 are Russia (19.89%), U Arab Emts (28.83%), Iraq (34.12%), Switzerland (26.43%) and Angola (256.01%).

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MAY 2024

 TRADE: EXPORT

Sl. No.

Commodities

Values in Million USD

% Change

MAY'23

APR'23-MAY'23

MAY'24

APR'24-MAY'24

MAY'24

APR'24-MAY'24

1

Tea

54.07

101.82

64.66

124.70

19.57

22.47

2

Coffee

112.97

231.44

185.54

322.80

64.23

39.48

3

Rice

977.28

1977.53

1004.29

1956.36

2.76

-1.07

4

Other cereals

104.45

167.98

19.37

41.58

-81.45

-75.25

5

Tobacco

91.27

196.12

144.56

263.26

58.38

34.24

6

Spices

453.07

814.37

361.17

766.79

-20.28

-5.84

7

Cashew

28.17

55.25

20.91

43.23

-25.79

-21.75

8

Oil Meals

150.98

349.47

113.00

246.22

-25.16

-29.54

9

Oil seeds

103.85

239.99

109.82

222.54

5.75

-7.27

10

Fruits & Vegetables

245.10

558.37

295.97

589.12

20.75

5.51

11

Cereal preparations & miscellaneous processed items

230.77

464.74

263.79

509.45

14.31

9.62

12

Marine Products

599.27

1166.89

575.84

1070.03

-3.91

-8.30

13

Meat, dairy & poultry products

307.75

647.93

378.37

699.81

22.95

8.01

14

Iron Ore

288.90

643.75

268.76

414.63

-6.97

-35.59

15

Mica, Coal & Other Ores, Minerals including processed minerals

382.48

773.46

386.60

727.79

1.08

-5.90

16

Leather & leather products

369.18

695.97

361.31

664.62

-2.13

-4.51

17

Ceramic products & glassware

373.07

736.78

360.19

700.17

-3.45

-4.97

18

Gems &Jewellery

2823.14

5248.45

2759.94

5017.83

-2.24

-4.39

19

Drugs & Pharmaceuticals

2084.06

4346.03

2301.88

4730.66

10.45

8.85

20

Organic & Inorganic Chemicals

2237.01

4375.35

2308.75

4805.17

3.21

9.82

21

Engineering Goods

9300.75

18250.12

9988.43

18653.96

7.39

2.21

22

Electronic Goods

2414.22

4521.83

2968.66

5619.97

22.97

24.29

23

Cotton Yarn/Fabs./made-ups, Handloom Products etc.

919.88

1807.70

1009.61

1956.46

9.75

8.23

24

Man-made Yarn/Fabs./made-ups etc.

395.43

788.36

413.82

782.17

4.65

-0.79

25

RMG of all Textiles

1235.81

2446.66

1357.40

2555.79

9.84

4.46

26

Jute Mfg. including Floor Covering

30.38

63.79

28.79

55.91

-5.21

-12.36

27

Carpet

111.23

216.40

130.75

241.84

17.55

11.76

28

Handicrafts excl. handmade carpet

123.37

245.46

148.82

273.82

20.63

11.55

29

Petroleum Products

5854.37

12274.93

6776.29

13390.59

15.75

9.09

30

Plastic & Linoleum

650.79

1297.65

758.81

1424.76

16.60

9.79

 

Sub-Total

33053.08

65704.59

35866.10

68872.03

8.51

4.82

 

 GRAND   TOTAL

34952.48

69570.93

38132.48

73116.68

9.10

5.10

Note 1: Exports include Re-Exports.

Note 2: The figures for MAY’24 are provisional.

Note 3: Grand total is inclusive of component ‘Other

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MAY 2024

 TRADE: EXPORT

Sl. No.

Commodities

Values in Rs Crore

% Change

MAY'23

APR'23-MAY'23

MAY'24

APR'24-MAY'24

MAY'24

APR'24-MAY'24

1

Tea

445.25

836.89

539.19

1040.01

21.10

24.27

2

Coffee

930.24

1901.90

1547.24

2692.12

66.33

41.55

3

Rice

8047.28

16251.37

8375.09

16315.86

4.07

0.40

4

Other cereals

860.11

1381.16

161.57

346.74

-81.21

-74.89

5

Tobacco

751.53

1611.53

1205.49

2195.58

60.40

36.24

6

Spices

3730.72

6694.10

3011.91

6395.04

-19.27

-4.47

7

Cashew

232.00

454.08

174.37

360.57

-24.84

-20.59

8

Oil Meals

1243.20

2871.27

942.30

2053.48

-24.20

-28.48

9

Oil seeds

855.11

1971.80

915.79

1855.98

7.10

-5.87

10

Fruits & Vegetables

2018.26

4587.71

2468.14

4913.20

22.29

7.09

11

Cereal preparations & miscellaneous processed items

1900.26

3819.29

2199.82

4248.76

15.76

11.24

12

Marine Products

4934.62

9590.24

4802.14

8923.96

-2.68

-6.95

13

Meat, dairy & poultry products

2534.13

5324.32

3155.34

5836.33

24.51

9.62

14

Iron Ore

2378.90

5289.43

2241.24

3457.93

-5.79

-34.63

15

Mica, Coal & Other Ores, Minerals including processed minerals

3149.48

6356.28

3224.00

6069.73

2.37

-4.51

16

Leather & leather products

3039.94

5720.31

3013.07

5542.82

-0.88

-3.10

17

Ceramic products & glassware

3071.95

6055.14

3003.69

5839.36

-2.22

-3.56

18

Gems &Jewellery

23246.67

43139.29

23015.97

41848.08

-0.99

-2.99

19

Drugs & Pharmaceuticals

17160.82

35713.69

19196.08

39453.54

11.86

10.47

20

Organic & Inorganic Chemicals

18420.26

35959.11

19253.38

40074.95

4.52

11.45

21

Engineering Goods

76585.46

149988.87

83296.39

155572.11

8.76

3.72

22

Electronic Goods

19879.48

37166.23

24756.49

46870.06

24.53

26.11

23

Cotton Yarn/Fabs./made-ups, Handloom Products etc.

7574.63

14856.58

8419.45

16316.75

11.15

9.83

24

Man-made Yarn/Fabs./made-ups etc.

3256.08

6478.96

3450.98

6523.21

5.99

0.68

25

RMG of all Textiles

10176.08

20107.55

11319.73

21315.07

11.24

6.01

26

Jute Mfg. including Floor Covering

250.12

524.21

240.12

466.25

-4.00

-11.06

27

Carpet

915.91

1778.54

1090.33

2016.96

19.04

13.41

28

Handicrafts excl. handmade carpet

1015.87

2017.24

1241.04

2283.61

22.17

13.20

29

Petroleum Products

48206.79

100868.75

56509.45

111676.65

17.22

10.71

30

Plastic & Linoleum

5358.82

10664.45

6327.96

11882.33

18.08

11.42

 

Sub-Total

272170.00

539980.30

299097.77

574387.07

9.89

6.37

 

 GRAND   TOTAL

287810.22

571753.51

317997.81

609787.03

10.49

6.65

Note 1: Grand total is inclusive of component ‘Other’.

Note 2: The figures for MAY’24 are provisional.

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MAY 2024

 TRADE: IMPORT

Sl. No.

Commodities

Values in Million USD

% Change

MAY'23

APR'23-MAY'23

MAY'24

APR'24-MAY'24

MAY'24

APR'24-MAY'24

1

Cotton Raw & Waste

58.09

103.39

43.88

81.79

-24.46

-20.89

2

Vegetable Oil

1140.09

2218.38

1453.12

2790.55

27.46

25.79

3

Pulses

131.84

282.79

370.91

781.99

181.34

176.53

4

Fruits & vegetables

218.28

417.87

224.80

479.60

2.99

14.77

5

Pulp and Waste paper

136.50

283.04

167.90

311.22

23.01

9.96

6

Textile yarn Fabric, made-up articles

188.24

349.50

186.08

347.92

-1.15

-0.45

7

Fertilisers, Crude & manufactured

1180.48

1831.76

939.37

1536.57

-20.42

-16.12

8

Sulphur & Unroasted Iron Pyrites

6.59

28.89

5.21

11.51

-20.92

-60.14

9

Metaliferrous ores & other minerals

925.04

1483.98

966.33

1557.61

4.46

4.96

10

Coal, Coke & Briquettes, etc.

4492.28

7998.80

3299.74

6395.68

-26.55

-20.04

11

Petroleum, Crude & products

15574.12

29267.92

19948.63

36411.05

28.09

24.41

12

Wood &  Wood products

581.68

1119.50

539.77

1001.69

-7.20

-10.52

13

Leather & leather products

95.04

156.66

75.98

138.07

-20.05

-11.87

14

Organic & Inorganic Chemicals

2561.36

4894.29

2548.81

4754.82

-0.49

-2.85

15

Dyeing/tanning/colouring materials

354.07

688.19

336.03

661.35

-5.10

-3.90

16

Artificial resins, plastic materials, etc.

1883.78

3782.11

1888.33

3591.90

0.24

-5.03

17

Chemical material & products

1057.05

2044.72

953.30

1865.00

-9.81

-8.79

18

Newsprint

39.72

63.85

37.94

65.09

-4.49

1.94

19

Pearls, precious & Semi-precious stones

1878.65

3986.89

1909.50

3572.58

1.64

-10.39

20

Iron & Steel

1824.30

3530.95

1703.00

3269.02

-6.65

-7.42

21

Non-ferrous metals

2047.76

3816.11

2070.52

3848.63

1.11

0.85

22

Machine tools

397.19

726.64

445.82

846.00

12.24

16.43

23

Machinery, electrical & non-electrical

4138.33

8069.01

4148.68

7940.30

0.25

-1.60

24

Transport equipment

2341.05

4486.76

3087.28

5227.74

31.88

16.51

25

Project goods

56.78

88.97

31.62

69.35

-44.31

-22.05

26

Professional instrument, Optical goods, etc.

628.86

1205.43

643.79

1269.67

2.37

5.33

27

Electronic goods

6702.87

13111.28

7149.18

14200.43

6.66

8.31

28

Medicinal & Pharmaceutical products

702.49

1279.88

763.43

1447.01

8.67

13.06

29

Gold

3693.47

4701.47

3333.03

6447.66

-9.76

37.14

30

Silver

27.15

140.04

137.93

272.07

407.99

94.28

 

Sub-Total

55063.15

102159.08

59409.91

111193.87

7.89

8.84

 

 GRAND   TOTAL

57481.42

106537.53

61914.33

116009.84

7.71

8.89

Note 1: Imports include Re-Imports.

Note 2: The figures for MAY’24 are provisional.

Note 3: Grand total is inclusive of component ‘Other’.

QUICK ESTIMATES FOR SELECTED MAJOR COMMODITIES FOR MAY 2024

 TRADE: IMPORT

Sl. No.

Commodities

Values in Rs Crore

% Change

MAY'23

APR'23-MAY'23

MAY'24

APR'24-MAY'24

MAY'24

APR'24-MAY'24

1

Cotton Raw & Waste

478.35

849.89

365.90

682.10

-23.51

-19.74

2

Vegetable Oil

9387.85

18232.11

12118.03

23273.01

29.08

27.65

3

Pulses

1085.59

2323.72

3093.09

6521.73

184.92

180.66

4

Fruits & vegetables

1797.41

3434.43

1874.66

3999.84

4.30

16.46

5

Pulp and Waste paper

1123.97

2325.90

1400.13

2595.54

24.57

11.59

6

Textile yarn Fabric, made-up articles

1550.03

2872.74

1551.75

2901.58

0.11

1.00

7

Fertilisers, Crude & manufactured

9720.49

15062.35

7833.71

12814.69

-19.41

-14.92

8

Sulphur & Unroasted Iron Pyrites

54.25

237.16

43.44

96.02

-19.93

-59.51

9

Metaliferrous ores & other minerals

7617.10

12201.53

8058.49

12990.14

5.79

6.46

10

Coal, Coke & Briquettes, etc.

36990.90

65751.67

27517.52

53339.54

-25.61

-18.88

11

Petroleum, Crude & products

128242.46

240560.06

166357.38

303663.80

29.72

26.23

12

Wood &  Wood products

4789.71

9200.97

4501.34

8354.01

-6.02

-9.21

13

Leather & leather products

782.59

1288.02

633.63

1151.50

-19.03

-10.60

14

Organic & Inorganic Chemicals

21091.10

40225.98

21255.23

39654.66

0.78

-1.42

15

Dyeing/tanning/colouring materials

2915.53

5656.03

2802.26

5515.65

-3.89

-2.48

16

Artificial resins, plastic materials, etc.

15511.64

31081.93

15747.30

29956.09

1.52

-3.62

17

Chemical material & products

8704.07

16805.03

7949.83

15553.92

-8.67

-7.44

18

Newsprint

327.11

525.02

316.41

542.88

-3.27

3.40

19

Pearls, precious & Semi-precious stones

15469.46

32761.41

15923.88

29795.00

2.94

-9.05

20

Iron & Steel

15021.87

29019.93

14201.85

27263.41

-5.46

-6.05

21

Non-ferrous metals

16861.94

31366.05

17266.69

32097.20

2.40

2.33

22

Machine tools

3270.61

5972.79

3717.80

7055.56

13.67

18.13

23

Machinery, electrical & non-electrical

34076.37

66316.12

34597.05

66221.42

1.53

-0.14

24

Transport equipment

19276.98

36876.28

25745.71

43598.39

33.56

18.23

25

Project goods

467.56

731.57

263.65

578.35

-43.61

-20.94

26

Professional instrument, Optical goods, etc.

5178.21

9907.35

5368.77

10589.02

3.68

6.88

27

Electronic goods

55193.68

107755.96

59619.12

118430.73

8.02

9.91

28

Medicinal & Pharmaceutical products

5784.53

10520.35

6366.50

12067.99

10.06

14.71

29

Gold

30413.23

38680.91

27795.08

53772.97

-8.61

39.02

30

Silver

223.58

1149.48

1150.21

2268.98

414.45

97.39

 

Sub-Total

453408.16

839692.71

495436.41

927345.74

9.27

10.44

 

 GRAND   TOTAL

473321.02

875683.13

516321.52

967510.51

9.08

10.49

Note 1: Grand total is inclusive of component ‘Other’.

Note 2: The figures for MAY’24 are provisional.

QUICK ESTIMATES FOR SELECTED COUNTRIES FOR MAY 2024

TRADE: EXPORT

Sl. No.

Countries

(Values in Million USD)

% Change

MAY'23

APR'23-MAY'23

MAY'24

APR'24-MAY'24

MAY'24

APR'24-MAY'24

1

U S A

6573.41

12467.43

7432.21

14045.46

13.06

12.66

2

U ARAB EMTS

2568.17

4791.93

3067.14

5566.35

19.43

16.16

3

NETHERLAND

1522.98

3264.45

2191.83

4598.54

43.92

40.87

4

U K

1029.22

2146.36

1374.43

2620.39

33.54

22.09

5

CHINA P RP

1284.91

2673.96

1327.99

2581.58

3.35

-3.45

6

SINGAPORE

977.09

1824.50

1022.38

2493.13

4.64

36.65

7

SAUDI ARAB

1034.76

1969.05

1122.29

2072.78

8.46

5.27

8

BANGLADESH PR

862.77

1719.15

978.96

1784.74

13.47

3.82

9

GERMANY

811.67

1607.95

866.38

1641.96

6.74

2.12

10

FRANCE

529.03

1060.44

724.46

1488.79

36.94

40.39

11

MALAYSIA

424.74

901.36

794.06

1478.49

86.95

64.03

12

SOUTH AFRICA

703.32

1431.02

677.94

1389.59

-3.61

-2.90

13

ITALY

860.01

1716.42

689.60

1372.91

-19.82

-20.01

14

NEPAL

678.74

1337.99

607.73

1197.87

-10.46

-10.47

15

BRAZIL

634.57

1276.62

667.38

1152.87

5.17

-9.69

16

TURKEY

585.72

1247.56

681.43

1136.12

16.34

-8.93

17

BELGIUM

733.36

1308.08

472.94

1047.29

-35.51

-19.94

18

MEXICO

441.66

853.36

512.69

999.50

16.08

17.13

19

AUSTRALIA

538.18

1259.39

519.25

956.55

-3.52

-24.05

20

HONG KONG

487.07

1013.19

518.38

928.15

6.43

-8.39

 

Sub-Total

23281.40

45870.21

26249.47

50553.05

12.75

10.21

 

GRAND   TOTAL

34952.48

69570.93

38132.48

73116.68

9.10

5.10

Note 1: Grand total is inclusive of all countries.

Note 2: The figures for MAY’24 are provisional.

QUICK ESTIMATES FOR SELECTED COUNTRIES FOR MAY 2024

TRADE: IMPORT

Sl. No.

Countries

(Values in Million USD)

% Change

MAY'23

APR'23-MAY'23

MAY'24

APR'24-MAY'24

MAY'24

APR'24-MAY'24

1

CHINA P RP

8250.12

15750.29

8482.59

16276.97

2.82

3.34

2

RUSSIA

6022.50

10307.80

7107.75

12358.18

18.02

19.89

3

U ARAB EMTS

3493.28

6642.07

5237.55

8556.70

49.93

28.83

4

U S A

3761.54

6818.76

3776.69

6983.76

0.40

2.42

5

IRAQ

2369.81

4625.93

3760.46

6204.50

58.68

34.12

6

SAUDI ARAB

2501.24

5613.21

2398.53

5591.29

-4.11

-0.39

7

INDONESIA

1950.79

3710.33

2406.55

4281.00

23.36

15.38

8

SWITZERLAND

2250.04

2945.99

1522.61

3724.72

-32.33

26.43

9

KOREA RP

1594.66

3189.11

1806.73

3352.57

13.30

5.13

10

SINGAPORE

1501.47

3051.37

1633.29

3202.70

8.78

4.96

11

JAPAN

1552.49

3059.08

1549.97

3039.38

-0.16

-0.64

12

GERMANY

1819.30

3244.40

1296.08

2502.57

-28.76

-22.87

13

HONG KONG

1355.82

2438.56

1306.96

2428.74

-3.60

-0.40

14

QATAR

956.75

2013.00

1245.48

2315.09

30.18

15.01

15

SOUTH AFRICA

1015.09

1714.66

1125.75

2140.04

10.90

24.81

16

AUSTRALIA

1450.62

2503.03

998.42

1997.20

-31.17

-20.21

17

MALAYSIA

1027.77

1869.54

993.92

1969.25

-3.29

5.33

18

THAILAND

850.23

1773.29

875.40

1811.10

2.96

2.13

19

TAIWAN

605.62

1244.25

882.77

1778.04

45.76

42.90

20

KUWAIT

743.94

1405.90

933.21

1566.58

25.44

11.43

 

Sub-Total

45073.07

83920.59

49340.72

92080.38

9.47

9.72

 

GRAND   TOTAL

57481.42

106537.53

61914.33

116009.84

7.71

8.89

Note 1: Grand total is inclusive of all countries.

Note 2: The figures for MAY’24 are provisional.

*Link for Quick Estimates

Topics

Acts Income Tax
Next ➔