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New Delhi, <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s merchandise <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> in April 2024 marginally rose to USD 34.99 billion from USD 34.62 billion in the year-ago month, according to government data released on Wednesday. <keyword id="19933566" type="General" weightage="20" keywordseo="imports" source="keywords">Imports</keyword> too increased to USD 54.09 billion from USD 49.06 billion in April 2023. Trade deficit, or the gap between imports and exports, during the month stood at USD 19.1 billion. Briefing media on the data, <keyword id="20598344" type="General" weightage="20" keywordseo="Commerce-Secretary-Sunil-Barthwal" source="keywords" meta.keywordsubtype="org" meta.entityname="Commerce Secretary Sunil Barthwal" meta.hostid="83" meta.entityid="Commerce Secretary Sunil Barthwal">Commerce Secretary Sunil Barthwal</keyword> said the figures show that the new fiscal year started on a good note and hoped that it continues. In March 2024, the outbound shipments dipped to USD 41.68 billion from USD 41.96 billion a year ago. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank">Virat Kohli-backed Go Digit IPO subscription opens today — all you need to know</a><a href="https://www.businessinsider.in/business/auto/news/tvs-iqube-gets-a-new-variant-priced-under-1-lakh-st-variant-gets-a-bigger-battery/articleshow/110121391.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tvs-iqube-gets-a-new-variant-priced-under-1-lakh-st-variant-gets-a-bigger-battery/articleshow/110121391.cms" target="_blank">TVS iQube gets a new variant priced under ₹1 lakh, ST variant gets a bigger battery</a><a href="https://www.businessinsider.in/tech/mobile/news/qualcomm-snapdragon-8s-gen-3-chipset-to-debut-in-india-with-the-poco-f6/articleshow/110115537.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/qualcomm-snapdragon-8s-gen-3-chipset-to-debut-in-india-with-the-poco-f6/articleshow/110115537.cms" target="_blank">Qualcomm Snapdragon 8s Gen 3 chipset to debut in India with the Poco F6</a>

India's exports marginally up at $34.99 bn in April

<keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s <keyword id="35090" type="General" weightage="20" keywordseo="exports" source="Orion">exports</keyword> declined 10.3% year-on-year to $34.98 billion in May this year, the government data showed on Thursday. Imports also declined 6.6 per cent to $57.1 billion against USD 61.13 billion recorded in the same month last year, the data showed. <keyword id="84" type="General" weightage="80" keywordseo="commerce" source="Orion">Commerce</keyword> Secretary <keyword id="326740" type="General" weightage="80" keywordseo="sunil-barthwal" source="Orion">Sunil Barthwal</keyword> said headwinds still continue on the global trade front. The Department of Commerce and Department for Promotion of Industry and Internal Trade are working on an exports strategy and focusing on 40 countries, Barthwal added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/what-is-uniform-civil-code-and-how-it-can-affect-your-life/slidelist/101017964.cms">What is Uniform Civil Code and how it can affect your life</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/travel/india/list-of-things-to-buy-in-bangalore/slidelist/101017626.cms">Affordable things to buy in Bangalore</a>

India's exports fall 10.3% to $34.98 billion in May

<keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>'s merchandise trade deficit in March 2023 stood at $19.73 billion, which was higher than $17.43 billion recorded in the previous month, according to government data released on Thursday. India's exports rose 6 per cent to $447 billion in 2022-23 as against $422 billion in 2021-22 on account of healthy growth in the outbound shipments of sectors such as petroleum, pharma and chemicals and marine products. India's overall exports of goods and services rose to $770 billion in 2022-23, showing a growth of 14 per cent over the corresponding fiscal and crossing the government's annual target. In 2021-22, the exports were $676 billion. <keyword id="84" type="General" weightage="80" keywordseo="commerce" source="Orion">Commerce</keyword> Secretary <keyword id="326740" type="General" weightage="80" keywordseo="sunil-barthwal" source="Orion">Sunil Barthwal</keyword> while sharing the trade figures on Thursday, said that the trade target for 2022-23 was $750 billion, which has been exceeded by around $20 billion. Despite recessionary conditions and headwinds, India recorded an on-year jump of $94 billion in annual trade, the commerce secretary added. The country's imports in overall trade grew by 17.38 per cent in 2022-23, as per commerce ministry data. The rise in imports was mainly due to a larger inflow of crude products, including petroleum. A rise in imports of coal, coke, briquettes and transport equipment was also seen during the year under review. Imports from Russia grew at a rate of 396.44 per cent, owing to the surge in petroleum imports. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/xiaomi-launches-a-new-line-up-of-air-purifiers-a-tv-and-a-vacuum-mop-in-india/articleshow/99464429.cms">Xiaomi launches a new line-up of air purifiers, a TV, and a vacuum mop in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-extends-gains-for-ninth-consecutive-days/articleshow/99464991.cms">Sensex extends gains for ninth consecutive days</a>

India's trade deficit widens to $19.73 billion in March, exports rose 6% in 2022-23 to $447 billion

Contracting for the third month in a row, <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s exports declined by 8.8 per cent to USD 33.88 billion in February due to a slowdown in global demand, even as the trade deficit touched about a year low of USD 17.43 billion during the month, according to official data released on Wednesday. Imports also declined by 8.21 per cent to USD 51.31 billion as against USD 55.9 billion recorded in the corresponding month last year. Cumulatively, however during April-February this fiscal, the country's overall merchandise exports rose by 7.5 per cent to USD 405.94 billion. Imports during the period increased by 18.82 per cent to USD 653.47 billion. The merchandise trade deficit for the April-February this fiscal stood at about USD 247.53 billion. The country's exports had contracted by 6.58 per cent to USD 32.91 billion in December 2022. In February 2022, the trade deficit was USD 18.75 billion. The last time was in January 2022 when the trade deficit touched USD 17.42 billion. <keyword id="84" type="General" weightage="80" keywordseo="commerce" source="Orion">Commerce</keyword> secretary <keyword id="326740" type="General" weightage="80" keywordseo="sunil-barthwal" source="Orion">Sunil Barthwal</keyword> said that going by the trend, India's goods and services exports will cross USD 750 billion in 2022-23. "We have kept the momentum despite the global headwinds. Exporters have kept the momentum. Services exports are doing extremely well. Trade deficit has really come down. Hopefully, we will be doing better," Barthwal told reporters here. He added that the ministry has started exercises to fix the target for the next fiscal also. Export sectors that recorded negative growth during the 11-month period of this fiscal included engineering goods, gems and jewellery, cotton yarn/fabrics/made-ups, and plastic and linoleum. Engineering exports dipped to USD 98.86 billion during April-February 2022-23 from USD 101.15 billion in the same period last fiscal. In the same period, gems and jewellery shipments declined to USD 35.21 billion from USD 35.32 billion from April-February 2022-23. Sectors which recorded positive growth included petroleum products, chemicals, pharma, electronic goods, rice, and ready-made garments of textiles. Gold imports during April-February this fiscal contracted to USD 31.72, as against USD 45.12 billion in the same period last year. In the 11 months of the current fiscal, crude oil imports rose to USD 193.47 billion as against USD 140.67 billion in the same period of 2021-22. Similarly, imports of coal, <keyword id="60450" type="General" weightage="80" keywordseo="coke" source="Orion">coke</keyword> and briquettes rose to USD 46.28 billion during April-February 2022-23 as against USD 27.12 billion in the year-ago period. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/tiny-plastic-shards-are-tearing-through-the-digestive-tracts-of-wild-birds-and-causing-permanent-scarring/articleshow/98662131.cms">Tiny plastic shards are tearing through the digestive tracts of wild birds and causing permanent scarring</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/global-ceos-see-india-as-a-bright-spot-leader-in-5g-rollout/articleshow/98662569.cms">Global CEOs see India as a bright spot, leader in 5G rollout</a>

Exports dip for the third consecutive month in February to $33.8 bn

<keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>'s <keyword id="35090" type="General" weightage="20" keywordseo="exports" source="Orion">exports</keyword> in December 2022 dipped by 12.2 per cent to USD 34.48 billion as against USD 39.27 billion in the same month last year, according to the data released by the <keyword id="6365809" type="General" weightage="80" keywordseo="commerce-ministry" source="Orion">commerce ministry</keyword> on Monday. Imports in December 2022 also declined to USD 58.24 billion as against USD 60.33 billion in the same month last year. During April-December this fiscal the country's overall exports rose by 9 per cent to USD 332.76 billion. Imports during the period increased by 24.96 per cent to USD 551.7 billion. <keyword id="84" type="General" weightage="80" keywordseo="commerce" source="Orion">Commerce</keyword> Secretary <keyword id="326740" type="General" weightage="80" keywordseo="sunil-barthwal" source="Orion">Sunil Barthwal</keyword> said that despite global headwinds, India's exports have held its head high. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/federal-bank-q3-profit-jumps-54-to-804-crore/articleshow/97025484.cms">Federal Bank Q3 profit jumps 54% to ₹804 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/best-deals-and-offers-on-speakers-earphones-and-other-audio-products-during-amazon-sale/articleshow/97026826.cms">Best deals and offers on speakers, earphones, and other audio products during Amazon sale</a>

India's exports in December 2022 dipped by 12.2%

New Delhi, Commerce Secretary Sunil Barthwal on Friday said India is ready to trade in Indan Rupee with countries which are facing currency failure or have dollar shortage. Speaking after the unveiling of Foreign Trade Policy (FTP) 2023 which seeks to increase India's exports to USD 2 trillion by 2030, the secretary also said the government is focusing on strengthening the rupee payment system. Changes have been made in the FTP to allow international trade settlement in Indian Rupee with a view to making INR a global currency. Addressing the gathering, Commerce and Industry Minister Piyush Goyal exuded confidence that the export target of USD 2 trillion by 2030 will be met. He stressed that any industry cannot succeed only on the basis of subsidy or crutches. In the coming days, the idea of exports will change in the country, Goyal said. FTP 2023 has been announced to provide policy continuity and a responsive framework, said Director General of Foreign Trade (DGFT) Santosh Sarangi. The FTP has also introduced an amnesty scheme for one-time settlement of default in export obligation by Advance Authorisation and EPCG authorisation holders. All pending cases of the default in meeting export obligation (EO) of authorisations mentioned can be regularised by the authorisation holder on payment of all customs duties that were exempted in proportion to unfulfilled EO and interest at the rate of 100 per cent of such duties exempted. However, no interest is payable on the portion of Additional Customs Duty and Special Additional Customs Duty. Policy for export of dual use items under Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET) has been consolidated at one place for ease of understanding and compliance by industry. SCOMET policy emphasises India's export control in line with its international commitments under various export control regimes (Wassenaar arrangement, Australia group and Missile Technology Control Regime) to control trade in sensitive/dual use items/technology.

India ready for rupee trade with countries facing currency crises: Commerce Secretary

As <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s <keyword id="19916774" type="General" weightage="100" keywordseo="exports" source="keywords">exports</keyword> in the first quarter of 2024-25 (April-June) crossed the $200 billion mark, the government has expressed its optimism about reaching its full-year target of $800 billion. "We are quite optimistic and it gives us optimism that we'd be crossing our <keyword id="19944038" type="General" weightage="20" keywordseo="USD" source="keywords">USD</keyword> 800 billion of trade this year," Commerce Secretary Sunil Barthwal said on Monday while releasing India's trade data for June. India's overall exports, merchandise and services combined in the month of June were to the tune of $65.47 billion, a 5.4% rise on a yearly basis, commerce ministry data showed. Same month last year it was at $62.12 billion. In break up, <keyword id="22419320" type="General" weightage="20" keywordseo="exports-of-merchandise-goods" source="Orion">exports of merchandise goods</keyword> rose from $34.32 billion to $35.20 billion, and exports of services rose from $27.79 to $30.27 billion. In May, merchandise and services exports combined were to the tune of $68.29 billion, a 10.2% rise on a yearly basis. The country's <keyword id="19933566" type="General" weightage="20" keywordseo="imports" source="keywords">imports</keyword> too increased year-on-year in June, data showed today. The same was the case in May. The overall imports, both merchandise and services combined, increased from $69.12 billion to $73.47 billion, a rise of about 6.3%, in June. In the recently concluded financial year 2023-24, India registered record exports at $778 billion. In 2022-23, the country exported goods and services combined at $776.3 billion. In break up, services exports rose from $325.3 billion to $341.1 billion in 2023-24. Merchandise exports though marginally declined from $451.1 billion to $437.1 billion. Among various steps the government took was to launch a <keyword id="8870884" type="General" weightage="20" keywordseo="Production-Linked-Incentive" source="Orion">Production Linked Incentive</keyword> (PLI) scheme in varied sectors, including electronic goods, to make Indian manufacturers globally competitive, attract investments, enhance exports, integrate India into the global supply chain and reduce dependency on imports. These seemed to have reaped dividends. China, Russia, Iraq, <keyword id="19908927" type="General" weightage="20" keywordseo="uae" source="keywords">UAE</keyword>, and Singapore were among the countries where India's exports in the just-concluded financial year have risen substantially, though with a low base. The other countries in the Top 10 list are the UK, Australia, Saudi Arabia, the Netherlands, and <keyword id="19899437" type="General" weightage="20" keywordseo="south-africa" source="keywords">South Africa</keyword>. Overall imports declined from $898.0 billion in 2022-23 to $853.8 billion. Both merchandise and services exports declined during the financial year. Overall trade deficit significantly improved from $121.6 billion in 2022-23 to $75.6 billion in 2023-24.

India's Apr-Jun quarter exports cross $200 bln, government optimistic of reaching  $800 bln annual target

India's merchandise <keyword id="35090" type="General" weightage="20" keywordseo="exports" source="Orion">exports</keyword> slipped by 2.83 per cent to USD 33.90 billion in November while the <keyword id="113688" type="General" weightage="20" keywordseo="trade-deficit" source="Orion">trade deficit</keyword> narrowed to USD 20.58 billion, according to government data. <keyword id="35091" type="General" weightage="20" keywordseo="imports" source="Orion">Imports</keyword> also fell by 4.33 per cent to USD 54.48 billion in November, the data released by the commerce ministry on Friday showed. Cumulatively, the country's merchandise exports in April-November FY2023-24 contracted by 6.51 per cent to USD 278.8 billion. Imports were also down by 8.67 per cent to USD 445.15 billion in the eight-month period due to a fall in <keyword id="522549" type="General" weightage="20" keywordseo="oil-imports" source="Orion">oil imports</keyword>. Oil imports dipped to USD 113.65 billion as against USD 139.29 billion in April-November 2022-23. The trade deficit - difference between imports and exports - during the eight-month period was USD 166.35 billion against USD 189.21 billion in the corresponding period last year. Briefing reporters here, Commerce Secretary Sunil Barthwal said that given the global situation, India's export numbers are good. All key export sectors have recorded negative growth during the April-November period of this fiscal and that include petroleum products, <keyword id="44517" type="General" weightage="20" keywordseo="gems" source="Orion">gems</keyword> and jewellery, chemicals, garments, and engineering goods. Sectors which registered positive growth include electronics, iron ore, and pharma. The other import segments whose inbound shipments are contracted include coal, coke; pearls, precious and semi-precious stones; and fertiliser. However, gold imports increased by 21 per cent to USD 32.93 billion. Electronic goods' imports have risen to USD 57.83 billion during April-November 2023-24 against USD 51.89 billion in the same period last year. The gold imports in November rose by 6.24 per cent to USD 3.44 billion. Oil imports during the month, however, dipped by 8.47 per cent to USD 14.93 billion. Barthwal said the global trade is suffering but, "we are holding the fort". He added that GDP growth of many countries are "not so high", interest rate regime is not softening, global conflicts are aggravating, irrespective of these issues, "we are doing well". Exports in October had grew by 6.21 per cent. According to the data, the estimated value of services export for November is USD 28.69 billion, as compared to USD 26.93 billion in November 2022. During the eight-month period, these exports stood at USD 220.66 billion as compared to USD 208.30 billion in April-November 2022. The World Trade Organisation (WTO) has forecast that global trade will grow only by 0.8 per cent in 2023. According to UNCTAD report, global trade expected to shrink by nearly 5 per cent in 2023 amid geopolitical strains and shifting trade patterns.

India's exports dip 2.83% to $33.9 bn in Nov; trade deficit narrows to $20.58 bn: Govt data

<keyword id="20253141" type="General" weightage="20" keywordseo="Bharti-Global" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Global" meta.hostid="268" meta.entityid="Bharti Global">Bharti Global</keyword>, the international <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> arm of Bharti Enterprises, will acquire about 24.5 per cent stake in <keyword id="20115879" type="General" weightage="20" keywordseo="BT-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="BT Group" meta.hostid="268" meta.entityid="BT Group">BT Group</keyword>, Britain's largest broadband and mobile company, from <keyword id="22756191" type="General" weightage="20" keywordseo="Altice-UK" source="keywords" meta.keywordsubtype="org" meta.entityname="Altice UK" meta.hostid="268" meta.entityid="Altice UK">Altice UK</keyword>, a release said on Monday. Although it did not divulge the size of the deal, market watchers say that at BT's valuation of roughly USD 15 billion dollars, the deal could be in the ballpark of USD 4 billion. The shares will be purchased through Bharti Televentures UK, which is wholly-owned by Bharti Global. Bharti Televentures UK has inked an agreement with Altice UK to acquire about 9.99 per cent stake of BT Group's issued capital imminently with the rest about 14.51 per cent of BT's share capital is to be acquired post regulatory clearances. Telecom billionaire Patrick Drahi's Altice UK, the largest shareholder in BT, has been struggling with high debt. "Bharti Global, the international investment arm of Bharti Enterprises, a leading Indian business group with world-class companies in telecoms, digital infrastructure and space communications, has reached an agreement to acquire an interest in 24.5 per cent of the issued share capital of BT Group plc from Altice UK," Bharti said in a release. Bharti hopes the investment will further help create new synergies in the telecom sector between India and UK in the areas of AI and <keyword id="19916120" type="General" weightage="20" keywordseo="5G" source="keywords">5G</keyword> R&amp;D and core engineering among others, "offering great potential to collaborate on industry best practices and emerging technologies". It is pertinent to mention here that Bharti and BT have a relationship going back more than two decades. In 1997, BT acquired a 21 per cent stake in Bharti Airtel, and hence Bharti's latest move to acquire a 24.5 per cent chunk in the iconic British company marks a defining moment for the Indian telecom conglomerate. Sunil Bharti Mittal, Chairman of Bharti Enterprises said: "Bharti and British Telecom (BT) have an enduring relationship going back more than two decades wherein BT owned 21 per cent stake along with two board seats in Bharti Airtel Limited from 1997-2001. Today marks a significant milestone in Bharti Group's history as we invest in BT - an iconic British company". Bharti's investment in BT aims to support the commitment of Prime Minister Narendra Modi towards his vision in elevating and broadening the India-UK ties, the release said. It noted that during the recently concluded visit of UK Foreign Secretary, David Lammy to India, the UK-India Technology Security Initiative was announced to expand collaboration in critical and emerging technologies across priority sectors including telecom. Sunil Mittal said: "This investment in BT aims to support the commitment of our Prime Minister towards his vision in elevating and broadening the India-UK ties. Bharti's own record of owning and operating telecom and broadband networks around the world is underpinned by placing customers, digital innovation and operational efficiency at the heart of its business". Shravin Bharti Mittal, Managing Director of Bharti Global said: "We review global investment opportunities in the world of technology from digital infrastructure to software. BT is well known to us from the long association with Bharti, so we are pleased to have this opportunity to acquire a significant stake in the company." Bharti believes that BT is poised for leadership in the telecom arena, especially home broadband services, he added. Meanwhile, BT Group, in a separate statement said the investment from Bharti is a strong vote of confidence in the future of the British telecom carrier and its strategy. Allison Kirkby, Chief Executive of BT said: "We welcome investors who recognise the long-term value of our business, and this scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy". "BT has enjoyed a long association with Bharti Enterprises, and I'm pleased that they share our ambition and vision for the future of our business. They have a strong track record of success in the sector, and I look forward to ongoing and positive engagement with them in the months and years to come," Kirkby said. Barclays Bank PLC, acting through its Investment Bank served as the sole financial advisor and Linklaters LLP served as legal advisor to Bharti Global in connection with the transaction. 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Bharti to acquire about 24.5% stake in BT Group from Altice UK; deal estimated at $4 bn

New Delhi India's exports contracted by 15.88 per cent to USD 32.25 billion in July this year from USD 38.34 billion in the same month last year, the government data showed on Monday. Imports during the month also declined by 17 per cent to USD 52.92 billion from USD 63.77 billion in July 2022. During April-July this fiscal, the exports dipped by 14.5 per cent to USD 136.22 billion. Imports during the period also declined by 13.79 per cent to USD 213.2 billion. Commerce secretary Sunil Barthawal said that the global headwinds are still there. There is decline in exports and imports of several countries.

India's Exports dip 16% to $32.25 billion in July 2023

Chandigarh, Dec 4 () Leading corporate honchos of the country, including Sunil Mittal, Uday Kotak, Sanjiv Puri, will attend the two-day Progressive Punjab Investors Summit, starting on Thursday.
 The event, which is being organised by the Punjab government, will see participation from micro, small and medium enterprises (MSMEs), leading industrialists, new-age entrepreneurs, foreign missions and other dignitaries.
 An interactive session with Chief Minister Amarinder Singh on Thursday will be the highlight of the investors' summit, with a focus on putting the state's MSME sector on the centre stage of the global value chain, the state government said in a release on Wednesday.
 The chief minister's session on 'Blueprint for accelerating growth' will have East India Hotels Executive Chairman P R S Oberoi, Kotak Mahindra Bank Executive Vice Chairman &amp; MD Uday Kotak, ITC Chairman Sanjiv Puri, Hinduja Group Europe Chairman Prakash Hinduja, Hero Enterprise Chairman Sunil Kant Munjal and Vardhman Textiles Vice Chairman &amp; Joint Managing Director Suchita Jain as participants, it said.
 Satoshi Suzuki, Ambassador of Japan to India, will deliver his keynote address and will also set the tone of the two panel discussions, the release said.
 The second panel discussion of the afternoon session will see participation of Bharti Enterprises Chairman Sunil Bharti Mittal, HDFC MD Aditya Puri, DLF Vice Chairman Rajeev Singh, Sharaf Group Vice Chairman Sharafuddin Sharaf and Bharat Hotels (Lalit Hotels) CMD Jyotsna Suri. 
 The investor summit is set to build strong business partnerships for the state across sectors, with thrust on MSMEs, it added.
 It will be a platform for global leaders, industrialists and experts to come together to share their narratives on emerging markets and discuss ways to address the shifting industry requirements in this age of disruptions, said Vini Mahajan, Additional Chief Secretary, Punjab.
 The panel for MSME session will include representatives from World Bank and UNIDO, and will set the context of the summit's theme. 
 The highlight of the session will be an MoU exchange with e-commerce platforms Flipkart and Amazon. 
 The UK Country session will see a discussion on 'Punjab &amp; UK: Opportunities for Innovation and Technology'.
 British Deputy High Commissioner to India Andrew Ayre will make a presentation during the session, the release said. CHS VS RVK

Leading industrialists to take part in Punjab investors' summit starting Thursday

New Delhi, Feb 16 () India Inc expects tangible outcomes from US President Donald Trump's maiden visit to the world's fifth largest economy later this month, including a bilateral "mini" trade deal and higher investment commitments from American companies, industry groups said on Sunday. The two countries are negotiating a trade package to iron out certain issues and promote two-way commerce. India is demanding exemption from high duties imposed by the US on certain steel and aluminium products, resumption of export benefits to certain domestic products under the Generalised System of Preferences, and greater market access for its products from sectors like agriculture, automobile, auto components and engineering. On the other hand, the US wants greater market access for its farm and manufacturing products, dairy items and medical devices, data localisation, and cut on import duties on some information and communication technology (ICT) products. The US has also raised concerns over high trade deficit with India. "Expectations remain high on achieving a bilateral 'mini' trade deal, which hopefully lays the foundation for a more comprehensive economic partnership. "As Indian industry enhances its investment and job creation in the US, we expect an interaction of President Trump with leading Indian companies operating in the US," Confederation of Indian Industry (CII) Director General Chandrajit Banerjee said. "Trade negotiators from India and the US have been working hard to add value to the bilateral economic engagement, leveraging on their mutual advantages. As Prime Minister Narendra Modi hosts Trump to a national reception, the two leaders would give a decisive lift to bilateral ties," Assocham Secretary General Deepak Sood said. At the invitation of Prime Minister Modi, Trump is slated to travel to India on February 24 and 25. According to sources, Trump will meet the country's top business leaders here on February 25 in a bid to push for deeper trade and business ties. A CEO's round-table will be organised to facilitate a meeting between the US President and corporate honchos in the national capital. Senior bureaucrats are also expected to attend the meeting, besides top executives from American corporations. Leaders including Reliance Industries CMD Mukesh Ambani, Bharti Airtel Chairman Sunil Bharti Mittal, Tata Sons Chairman N Chandrasekaran, Mahindra Group Chairman Anand Mahindra, Larsen and Toubro Chairman A M Naik and Biocon CMD Kiran Mazumdar Shaw are expected to attend the round-table meeting with Trump, one of the sources said, adding that the US Embassy in New Delhi is coordinating the event while the list of attendees has been shared with the White House for clearance. Research by CII shows that at least 100 Indian companies have invested nearly USD 18 billion and created over 1,13,000 jobs in the US. "There have been several recent announcements by Indian companies, that have shown the growing impact Indian investment can have on US economy and society, and we fully expect that to increase. Likewise we expect even higher investment commitments from US companies into India," Banerjee observed. "Most of the Fortune 500 US companies have an overwhelming presence in India, while leading Indian corporates in manufacturing and services have expanded their foothold across the US market. When it comes to goods, the US is finding greater market access in India, as is reflected in the trade data," Sood said. In 2018-19, India's exports to the US stood at USD 52.4 billion, while imports were USD 35.5 billion. Trade deficit dipped from USD 21.3 billion in 2017-18 to USD 16.9 billion in 2018-19. India received FDI worth USD 3.13 billion from the US in 2018-19, higher than USD 2 billion in 2017-18. RSN ABM

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