Loading...

Top
Help
×

By creating an account you can:

Logo TaxTMI
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
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. 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
    CBI conducts course on financial crimes for officers from ITEC-member countries
    Delhi workers welfare board blacklists firm for over 20,000 'unauthorised' Aadhaar transactions
    Rupee rises 22 paise to close at 94.51 against US dollar
    Electrifying India's vehicles can cut its import bill by USD 125 billion by 2050: Study
    Loans to go beyond SHGs, women to get access to credit to expand livelihoods: Union minister Chouhan
    MIDC's role not just selling plots, but creation of conducive environment for development: CEO
    Decentro Wins Three Industry Honours for Fintech Infrastructure Innovation and Leadership in 2026
    Marching ahead with Responsibility and Growth - Keynote Address[Contributions by RBI colleague Shri Mohammed Majidullah, General Manager] delivered by...
    CCI directs Trustees’ Association of India, IDBI Trusteeship Services Ltd, Axis Trustee Services and SBI CAP Trustee Company to cease and desist fro...
    The Digital Textile Printer Revolution: How Konica Minolta NASSENGER is Preparing India for the Next Global Textile Opportunity
    Union minister Goyal hails 7.8 pc GDP growth; lauds Modi, takes dig at Oppn
    SC disposes of SEBI's pleas against NSE after Rs 1500-crore settlement
    India-US trade pact to be finalised once US offers preferential rate: Goyal
    Business Nextgen Finance Raises Rs 215 Crore in Equity to Accelerate MSME Lending
    Drugs: ED raids in 4 states; over 2 dozen offenders, foreign links under scanner
    Razorpay Launches a Conversational AI Account Manager 'RAY' on WhatsApp For Businesses, in Partnership with IndusInd Bank
    AssetPlus Launches Portfolio Management Services to Help MFD Partners Grow and Retain High-Net-Worth Clients
    APEDA Facilitates Flag-Off of 18 MT of NPOP-Certified Ethnic Rice from Tripura for Export to Austria and the Netherlands
    VR LIVIN’s ‘THE FIRST’ Records Sale of 20 Villas Within Two Days of Launch
    IAAPI Calls for GST Rationalisation to Support Growth and Consumer Demand in India’s Amusement Industry
❯❯
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:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
September 3, 2026
Show AI Summary
Economic offence investigations: cross-border training strengthens officers' practical skills in investigation, prosecution, procedures, and handling complex financial crimes.
Capacity-building training under the Indian Technical and Economic Cooperation programme equipped officers from member countries with practical skills for investigating economic offences. It covered varied forms of financial and economic crime, cross-border impact, challenges in investigation and prosecution, standard operating procedures, and investigative best practices. The specialised law-enforcement engagement aims to strengthen international cooperation and investigative capacity in economic-offence matters.
September 3, 2026
Show AI Summary
Unauthorised Aadhaar credential use triggers blacklisting and procurement debarment following alleged post-termination enrolment and update transactions.
Alleged unauthorised use of Aadhaar Registrar/EA Code credentials after termination of an operational engagement led the Delhi Construction and Other Workers Welfare Board to blacklist MDS Solution Pvt Ltd. UIDAI communication indicated that Aadhaar-related activity allegedly continued after cancellation through the Board's credentials. The Board lodged a police complaint, barred the firm from its tenders, procurement processes, empanelment and contract awards, and recommended consideration of action under applicable rules and policies.
September 3, 2026
Show AI Summary
FCNR(B) deposits strengthen foreign-exchange liquidity and support rupee appreciation alongside foreign portfolio inflows into government securities.
Foreign-currency inflows through FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings strengthened foreign-exchange liquidity and supported appreciation of the rupee against the US dollar. Foreign portfolio investment in government securities was linked to the abolition of withholding tax and long-term capital gains tax on such investment. Currency-market conditions were also influenced by foreign institutional equity purchases, global risk appetite, crude-oil prices and geopolitical tensions.
September 3, 2026
Show AI Summary
Electric vehicle adoption can reduce transport import dependence while domestic battery manufacturing increases projected long-term savings.
Electric-vehicle adoption across road-transport segments is projected to reduce dependence on imported petrol and diesel, notwithstanding continuing battery imports. Accelerated electrification could reduce vehicle-related import expenditure substantially by 2050 because reduced oil imports are expected to exceed battery-import costs. Domestic cell-manufacturing capacity may further increase savings by combining rapid vehicle electrification with battery localisation.
September 3, 2026
Show AI Summary
Women's livelihood credit access will extend beyond self-help groups through standardised loan formalities and coordinated banking support.
Women's access to credit for livelihood expansion is to extend beyond Self-Help Groups to individual women members. Loan accessibility concerns include distance from bank branches, repeated visits to complete formalities, and inconsistent banking procedures. Regular State Rural Livelihood Mission meetings, bank participation, training, helplines, process improvements and coordination with bankers are intended to reduce barriers. Loan formalities are to be standardised across banks through a uniform process involving RBI and NABARD.
September 3, 2026
Show AI Summary
Industrial development facilitation prioritises infrastructure, services, policy utilisation, and dry-port trade connectivity for businesses and agro-based farmers.
Industrial development facilitation extends beyond allocation of industrial plots to infrastructure development, services, and a favourable business environment. Industry-support policies seek to encourage participation by entrepreneurs, promote growth across sectors, and improve investment conditions without distinction between small and large enterprises. Dry-port infrastructure strengthens national and international trade connectivity, supporting import and export expansion for industrial and agro-based businesses.
September 3, 2026
Show AI Summary
Regulated fintech infrastructure recognition highlights integrated payment, identity and collections capabilities across embedded financial product delivery.
Decentro operates an integrated fintech infrastructure platform combining payment acceptance, identity verification, banking and AI-led collections through a unified integration layer. It holds Payment Aggregator authorisations for online and physical payments, a Payment Service Provider licence through its GIFT City entity, and certification for offline identity-verification workflows. These capabilities support embedded financial products, payment acceptance, lending collections and related financial workflows for enterprise users.
September 3, 2026
Show AI Summary
Responsible NBFC and HFC growth requires technology-enabled inclusion, proportionate regulation, sound governance, liquidity discipline, customer protection and cyber resilience.
NBFCs and HFCs can complement bank-led credit delivery through last-mile reach, sector-specific expertise, digital infrastructure, consent-based data sharing and cash-flow-based underwriting. Sustainable growth requires strong liquidity risk management, governance, compliance culture, diversified funding, stress testing, early-warning systems, dynamic provisioning and sound underwriting standards. Proportionate scale-based regulation, digital lending standards and a substance-over-form approach seek to support innovation while preserving financial stability. Customer protection, responsible lending, grievance redressal, fair recovery conduct, cyber resilience and protection of customer data remain essential.
September 3, 2026
Show AI Summary
Debenture trusteeship fee fixing constitutes cartelisation by constraining independent pricing and restricting service availability in the market.
Collective minimum-fee fixing for debenture trusteeship services prevented trustees from making independent commercial pricing decisions and constituted cartelisation. Prescription of a benchmark fee limited and controlled the supply or market for such services by directing association members and non-members not to serve debenture issuers below that fee. The conduct contravened Section 3(3)(a) and Section 3(3)(b) read with Section 3(1) of the Competition Act, 2002.
September 3, 2026
Show AI Summary
Digital textile printing enables flexible industrial production, shorter lead times, reduced screen dependency and sustainability-focused manufacturing for export markets.
Digital textile printing is presented as an industrial alternative to conventional screen printing, allowing direct production from digital design files with faster design changes, shorter lead times and flexibility across varying order quantities. Single-pass systems support high-volume production through fixed printing units and continuous fabric movement, while multipass platforms provide flexible production across natural, synthetic and specialised textiles. Digital production is associated with printing closer to demand, eliminating physical screens, reducing unnecessary production, and addressing wastewater reduction, chemical compliance, traceability and responsible manufacturing expectations.
September 3, 2026
Show AI Summary
Economic growth and infrastructure investment were presented as supporting exports, skilled employment, connectivity, and long-term development.
Economic growth, export expansion and infrastructure investment are presented as interconnected drivers of India's development, global standing and employment opportunities. Infrastructure expenditure, railway expansion and improved transport connectivity are identified as measures intended to facilitate movement, simplify transportation, support trade and exports, and strengthen industrial and commercial activity. These measures are associated with the objective of a developed India by 2047 and enhanced employment, business and growth opportunities.
September 3, 2026
Show AI Summary
Co-location and dark fibre settlement addressed allegations of preferential market-data access and speed advantages in trading.
SEBI's co-location and dark fibre matters involving NSE concerned allegations that certain stockbrokers obtained unfair preferential speed advantages to access market data and execute trades ahead of other investors. NSE pursued settlement applications covering both matters, and revised settlement terms increased the cumulative amount. Payments made by NSE together completed the agreed settlement amount.
September 3, 2026
Show AI Summary
Preferential tariff treatment remains the condition for finalising the bilateral trade agreement and improving Indian export competitiveness.
Finalisation of the India-US Bilateral Trade Agreement is contingent on the United States extending preferential tariff treatment to India relative to competing supplier countries. Further negotiations are required following changes in the United States tariff environment. A comparative tariff advantage is intended to improve the price competitiveness of Indian goods in the United States market, particularly against competitors benefiting from lower duties under least-developed-country preferences or trade agreements.
September 3, 2026
Show AI Summary
MSME secured lending equity capital, subject to regulatory approval, supports expansion without management-control change in operations.
Business Nextgen Finance Private Limited, a non-deposit taking non-banking financial company registered with the Reserve Bank of India, has raised Rs 215 crore in equity capital to expand secured credit for micro, small and medium enterprises. The transaction received prior Reserve Bank of India approval. The capital base will support secured lending scale-up, geographic expansion, technology investment and wider access to formal credit in underserved markets. The investment does not involve a change in management or day-to-day control.
September 3, 2026
Show AI Summary
Money-laundering probes into narcotics trafficking rely on predicate police and narcotics cases and examine cross-border linkages.
Money-laundering investigation under the Prevention of Money Laundering Act involves coordinated searches in connection with multiple narcotics-trafficking matters. The investigation is founded on police and Narcotics Control Bureau FIRs and linked chargesheets concerning separate drug-trafficking allegations, including alleged trafficking in methamphetamine, marijuana and MDMA with suspected cross-border linkages.
September 3, 2026
Show AI Summary
Conversational AI account management enables businesses to access payment information, settlement support, refunds, and payment links through WhatsApp.
RAY is a conversational AI account manager on WhatsApp that enables businesses to access payment information, support, and operational actions through messages or voice notes. It can provide payment summaries, analyse payment activity, monitor settlement status, generate payment links, and issue refunds. The AI assistant is designed to proactively identify payment-health issues, flag settlement events, recommend actions, and use merchant-specific context to support payment management without dashboard navigation.
September 3, 2026
Show AI Summary
Portfolio management services distribution enables certified mutual fund distributors to digitally onboard and report for eligible high-net-worth clients through AssetPlus.
AssetPlus has launched Portfolio Management Services for certified Mutual Fund Distributor partners to digitally onboard, track, manage and report PMS investments for eligible high-net-worth clients. PMS distribution requires NISM Series-XXI-A certification and operates within the APRN distributor-registration framework. PMS comprises individually managed portfolios run by SEBI-registered Portfolio Managers and held in clients' demat accounts. The minimum investment is Rs. 50 lakh, and offerings are governed by the SEBI (Portfolio Managers) Regulations, 2020. The platform provides daily reconciliation of holdings, performance and valuations.
September 3, 2026
Show AI Summary
NPOP-certified ethnic rice exports strengthen organic producer access to international markets through certification, traceability, and organised export production.
NPOP-certified ethnic rice exports from Tripura to Austria and the Netherlands connect local farmers and Farmer Producer Companies with international markets through organised, export-oriented production. The initiative emphasises certification, traceability, food safety and quality as requirements for access to markets for certified organic products. Buyer-seller linkages support export opportunities, while coordinated organic value-chain engagement strengthens certification and quality systems and supports producers in meeting international standards.
September 3, 2026
Show AI Summary
Gated residential community launch combines smart-home villas, extensive lifestyle amenities and planned expansion into future residential developments.
VR LIVIN Ventures LLP launched 'THE FIRST', an 83-villa gated residential community in Madhavaram, North Chennai, which recorded sales of 20 villas during its first two launch days. The development includes smart-home villas and more than 50 lifestyle amenities, with access to nearby metro connectivity and social infrastructure. It forms part of the company's intended expansion of residential projects in Chennai and other South Indian locations.
September 3, 2026
Show AI Summary
GST rationalisation for amusement park admissions could lower ticket prices, stimulate consumer demand, and support investment without input tax credit.
GST rationalisation for amusement park, water park and indoor entertainment admission tickets is sought through a flat 5% GST rate without Input Tax Credit. The proposed rate is intended to reduce ticket prices, improve affordability and increase customer demand in a capital-intensive tourism and entertainment sector. Many smaller and mid-sized operators report limited ability to offset GST liability through ITC. Lower taxation is projected to support facility expansion, revenue growth, new investment, employment and reinvestment in recreational services.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Showing Results for : Reset Filters
Customs, DGFT & SEZ

India’s Exports Reach Historic Heights

February 1, 2025

Contents
Summary
Note

Note

-

Bookmark

Print

Print

Exports hit USD 778.21 billion in 2023-24, marking a 67% increase since 2013-14

Introduction

India’s exports have seen a historic rise, reaching USD 778.21 billion in 2023-24. This marks a 67% increase from USD 466.22 billion in 2013-14. The growth reflects India’s expanding role in global trade, driven by strong performances in both merchandise and services exports.

In 2023-24, merchandise exports stood at USD 437.10 billion, while services exports contributed USD 341.11 billion, demonstrating a well-balanced expansion. Key sectors like electronics, pharmaceuticals, engineering goods, iron ore, and textiles played a vital role in this surge. Strengthened by strategic policy measures, enhanced competitiveness, and broader market access, India’s export ecosystem is now more resilient and deeply integrated into the global economy.

The momentum has continued into FY 2024-25, with cumulative exports during April-December 2024 estimated at USD 602.64 billion, a 6.03% increase from USD 568.36 billion in the same period of 2023. Strengthened by strategic policy measures, enhanced competitiveness, and broader market access, India’s export ecosystem is now more resilient and deeply integrated into the global economy.

Export Classification and Growth Trends

Merchandise exports have grown from USD 314 billion in 2013-14 to USD 437.10 billion in 2023-24, driven by a stronger manufacturing base and increased global demand.

Service exports have expanded from USD 152 billion in 2013-14 to USD 341.11 billion in 2023-24, fueled by the rise of IT, financial, and business services.

Leading Export Regions Over the Years

In 2004-05, India’s exports were predominantly directed to regions like North America, the European Union, North-East Asia, West Asia-Gulf Cooperation Council, and ASEAN. By 2013-14, there was a marked increase in export values across these regions, with North America, the EU, and West Asia seeing notable growth. Fast forward to 2023-24, and the export landscape shows continued expansion, with North America leading as the largest destination. The EU, West Asia, and ASEAN also experienced robust growth, illustrating India’s diversified and strengthened global trade relationships over the years.

Key Export Destinations in 2023-24

  • In 2023-24, the top merchandise export destinations for India included the USA (17.90%), UAE (8.23%), Netherlands (5.16%), China (3.85%), Singapore (3.33%), UK (3.00%), Saudi Arabia (2.67%), Bangladesh (2.55%), Germany (2.27%), and Italy (2.02%).
  • Together, these 10 countries made up 51% of India’s total merchandise export value in 2023-24.

 

Sectoral Growth in India's Exports

  • Mobile Phone Exports Growth: Mobile phone exports reached US$ 15.6 billion in 2023-24 from USD 0.2 billion in 2014-15. Domestic production of mobile phones grew from 5.8 crore units in 2014-15 to 33 crore units in 2023-24, with imports dropping significantly.

  • Pharmaceutical Exports Surge: India, ranked third globally in drug and pharmaceutical production by volume, saw its pharmaceutical exports rise from USD 15.07 billion in 2013-14 to USD 27.85 billion in FY 2023-24.

  • Engineering Goods Exports: Engineering goods exports grew to USD 109.32 billion in FY 2023-24, up from USD 62.26 billion in FY 2013-14.

  • Agricultural Exports Growth: Agricultural exports from India increased from USD 22.70 billion in 2013-14 to USD 48.15 billion in 2023-24.

Key Government Initiatives to Strengthen India’s Export Landscape

Foreign Trade & Export Promotion

  • New Foreign Trade Policy (FTP) 2023: Focuses on export incentives, ease of doing business, and emerging sectors like e-commerce and high-tech products. Introduced a one-time Amnesty Scheme to help exporters clear pending authorizations.
  • Interest Equalisation Scheme (IES): It was extended until August 31, 2024, with a ₹12,788 crore allocation to provide concessional interest rates on export credit.
  • RoDTEP & RoSCTL Schemes: Provide tax and duty reimbursements to exporters, benefiting sectors like pharmaceuticals, chemicals, and steel.
  • Districts as Export Hubs: Identifies high-potential products in each district and provides infrastructure and market linkages.
  • Trade Infrastructure for Export Scheme (TIES) & Market Access Initiative (MAI): Support infrastructure development and marketing efforts for export growth.

Infrastructure & Logistics

  • National Logistics Policy (NLP) & PM GatiShakti: Aim to reduce logistics costs and enhance multimodal connectivity through GIS-based planning.
  • Production-Linked Incentive (PLI) Schemes: With an outlay of ₹1.97 lakh crore, these schemes promote large-scale manufacturing in 14 key sectors to enhance exports. Over Rs. 1.47 lakh crore of investment has been reported till October 2024, which has led to production/sales of Rs. 13 lakh crore and employment generation (direct & indirect) of around 10 lakh. Exports have been boosted by Rs. 4.5 lakh crore.
  • Bharat Mart in Dubai: Provides MSMEs with affordable access to GCC, African, and CIS markets.

Ease of Doing Business & Digital Initiatives

  • Compliance & Decriminalization Reforms: Over 42,000 compliances reduced and 3,800 provisions decriminalized to simplify business processes.
  • National Single Window System (NSWS): Streamlines approvals, allowing businesses to apply for 277 Central approvals.
  • Trade Connect e-Platform: Links over 6 lakh IEC holders with Indian missions and export councils for seamless trade facilitation.
  • Enhanced Insurance Cover for MSME Exporters: Provides ₹20,000 crore in low-cost credit to 10,000 MSME exporters.

E-Commerce & Digital Trade

  • E-Commerce Export Hub (ECEH): Aims to boost e-commerce exports to $100 billion by 2030, connecting SMEs and artisans to global markets.
  • ICEGATE Digital Platform: Modernizes customs processes with e-filing, real-time tracking, and seamless documentation.

Agriculture & Organic Exports

  • National Programme for Organic Production (NPOP): Expected to benefit 20 lakh farmers, with organic exports targeted to exceed $1 billion by 2025-26.

Conclusion

India's export sector has experienced extraordinary growth, driven by a combination of strategic policy measures, robust infrastructure development, and a strengthened manufacturing base. With exports touching new heights across both merchandise and services, the country has firmly established itself as a key player in global trade. The expansion of high-value sectors like electronics, pharmaceuticals, engineering goods, and agriculture, coupled with innovations in e-commerce and digital trade, showcases India's growing global influence. Supported by initiatives such as the National Logistics Policy, Production-Linked Incentive schemes, and enhanced market access, India is well on its way to further diversifying its export landscape. As the country continues to focus on improving business ease, fostering competitiveness, and tapping into emerging markets, it is poised to not only sustain but also accelerate its export momentum in the years to come.

References:

https://static.pib.gov.in/WriteReadData/specificdocs/documents/2024/dec/doc2024123463101.pdf

https://www.commerce.gov.in/wp-content/uploads/2024/12/Annual-Report-English-Lower-Resolution-1.pdf

https://www.commerce.gov.in/trade-statistics/

https://niryat.gov.in/

https://pib.gov.in/PressReleasePage.aspx?PRID=2093104

Topics

Acts Income Tax