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The country's <keyword id="20631272" type="General" weightage="20" keywordseo="merchandise-exports" source="keywords">merchandise exports</keyword> are expected to increase about USD 60-70 billion to <keyword id="20120060" type="General" weightage="20" keywordseo="USD-500-billion" source="keywords">USD 500 billion</keyword> by the end of FY25, apex exporters' body <keyword id="20516660" type="General" weightage="20" keywordseo="FIEO" source="keywords">FIEO</keyword> said on Thursday. Federation of <keyword id="702966" type="General" weightage="20" keywordseo="Indian-export" source="Orion">Indian Export</keyword> Organisations (FIEO) President <keyword id="19991031" type="General" weightage="20" keywordseo="Ashwini-Kumar" source="keywords">Ashwini Kumar</keyword> also said the country's <keyword id="20061029" type="General" weightage="20" keywordseo="services-exports" source="keywords">services exports</keyword> are also likely to reach USD 390-400 billion this fiscal. "We are looking for merchandise <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> between USD 500-510 billion in 2024-25. In the services, we expect exports to be around USD 390-400 billion for the current fiscal," Kumar told reporters in New Delhi. She said <keyword id="20677957" type="General" weightage="20" keywordseo="traditional-markets" source="keywords">traditional markets</keyword> like the US and Europe will help in <keyword id="21683869" type="General" weightage="20" keywordseo="boosting-Indias-exports" source="keywords">boosting India's exports</keyword>. In 2023-24, exports had dipped over 3 per cent to USD 437 billion.

India's merchandise exports to rise 12-15%, reach USD 400 billion this fiscal: FIEO

The e-commerce market in India is projected to increase significantly to over USD 300 billion by 2030 as the country's <keyword id="20107419" type="General" weightage="20" keywordseo="digital-economy" source="keywords">digital economy</keyword> is set to reach a whopping USD 1 billion by the same year. According to <keyword id="19918506" type="General" weightage="20" keywordseo="Invest-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Invest India" meta.hostid="261" meta.entityid="Invest India">Invest India</keyword>, India's online shopper base will be the 2nd largest globally by 2030, with nearly 500-600 Mn shoppers. Even now, India has the 2nd largest Internet user-base globally with 881 million users. India is moving towards becoming a dominant force in global e-commerce by 2030, driven by a growing digital economy and an expanding internet user base. The data from the investment promotion and facilitation agency Invest India from shows India taking the lead in <keyword id="19957108" type="General" weightage="20" keywordseo="online-shopping" source="keywords">online shopping</keyword>, the e-commerce sector in India is valued at USD 70 billion at present. This makes up for just around 7 percent of the total retail market in the country. However, several factors are likely to contribute a bright future outlook for the sector. <cmsannotation type="cmsannotation" annotationid="Growing internet penetration and digital economy" comment="subhead" text="Growing internet penetration and digital economy">Growing <keyword id="20707509" type="General" weightage="20" keywordseo="internet-penetration" source="keywords">internet penetration</keyword> and digital economy</cmsannotation> Internet penetration across has seen substantial growth, with over 60% of the Indian population (918 million) using the internet by September 2023. Further, an estimated 87 percent of Indian households are projected to have internet access as early as 2025. The time spent accessing the internet via mobile devices has also increased by 21 percent compared to 2019. The affordability of data prices in India is a key factor, with one gigabyte of data priced at around USD 0.17 (Rs 13.5), encouraging a large portion of the population to go online. <keyword id="21457667" type="General" weightage="20" keywordseo="mobile-data-traffic" source="keywords">Mobile data traffic</keyword> has tripled from 2018 to 2023, demonstrating the growing dependence on <keyword id="19979951" type="General" weightage="20" keywordseo="digital-platforms" source="keywords">digital platforms</keyword> for diverse requirements. It is projected that by 2026, 1.18 billion people across the country will have access to smartphones, over 80% of India's population. The increasing number of smartphone users along with higher average data consumption per user, boosts the digital economy. The Unified Payments Interface (UPI) has become a major player in digital payments, handling transactions worth USD 1.5 trillion in 2022. There has been a significant increase in the availability of local language and mobile-first content, with about 73 percent of India's internet users utilizing Indian languages. As a result, there is an estimated regional language user base of 540 million, creating a market worth USD 53 billion. Digital infrastructure like UPI, eKYC, and Aadhaar has cut down the consumer onboarding time by 80 percent, enhancing the digital experience. The Open Network for Digital Commerce (ONDC) is another notable initiative by the Government of India, launched in 2022. It aims to provide equal opportunities to MSMEs to thrive in digital commerce and democratize e-commerce. <cmsannotation type="cmsannotation" annotationid="A transition along with growth" comment="subhead" text="A transition along with growth">A transition along with growth</cmsannotation> In FY 2022-23, Government e-marketplace (GeM) registered its highest ever Gross Merchandise Value of $2011 Bn, shows data from Invest India. The projected growth in online shoppers in India is substantial, with a compound annual growth rate (CAGR) of 22 percent to 88 million in rural India and 15 percent to 263 million in urban India from 2019 to 2026. There is a notable transition towards rural-focused value e-commerce, with more than 60 percent of demand anticipated to come from tier 2-4 towns and rural India by 2026. Government programs such as the National Logistics Policy are designed to streamline deliveries to remote areas, improving the efficiency and cost-effectiveness of logistics. The quick commerce market in India's hyperlocal mobility sector is also projected to grow exponentially to achieve a market size of USD 5.5 billion by 2025. Leading companies like Swiggy and Zomato are at the forefront of the market, while startups like Zepto are also gaining substantial market share. <keyword id="20873923" type="General" weightage="20" keywordseo="social-commerce" source="keywords">Social commerce</keyword>, a new trend that uses social networks and digital media to connect buyers and sellers, is also projected to achieve a market size of USD 70 billion by 2030, with small video applications gaining significant popularity. Significant mergers and acquisitions have been observed in the e-commerce sector, with companies such as Zomato and PhonePe making strategic decisions to enhance their positions. Government schemes like Jan Dhan Yojana, BharatNet Project, and the implementation of Goods &amp; Service Tax (GST) have been instrumental in shaping India's digital economy. (With inputs from ANI)

India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030

India has set up a target of USD 500 billion exports for the 2022-23 fiscal, a top government official said on Friday, contending that the COVID-19 pandemic has taught the country to "reimagine" world trade. In December 2021, exports stood at USD 37.8 billion, the highest-ever for any month, Additional <keyword id="93457" type="General" weightage="20" keywordseo="dgft" source="Orion">DGFT</keyword> <keyword id="5269279" type="General" weightage="20" keywordseo="Amiya-Chandra" source="Orion">Amiya Chandra</keyword> said during a webinar organised by the Bengal Chamber of Commerce and Industry. "We are bang on target to touch USD 400 billion for the current fiscal. So far in the first nine months, the country's exports were to the tune of USD 301.38 billion," he said. Chandra said India is targeting USD 1 trillion exports by 2027. "The apprehension that COVID-19 would lead to a sharp decline in foreign trade has turned out to be negative. However, the pandemic has taught us to reimagine world trade," he said. The fulcrum of international trade has shifted from Europe and the United States to South East Asia, the <keyword id="506234" type="General" weightage="20" keywordseo="directorate-general-of-foreign-trade" source="Orion">Directorate General of Foreign Trade</keyword> official said. He also said that the world is moving away from multilateral trade agreements to bilateral ones, and India is presently in the process of entering into six FTAs. Chandra said going ahead, artificial intelligence and other forms of technology will become important in matters relating to trade. A separate portal for MSMEs will be launched soon, he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/amazons-virtual-assistant-alexa-is-down-and-facing-issues-responding-to-voice-commands/articleshow/89037602.cms">Amazon’s virtual assistant Alexa is down and facing issues responding to voice commands</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/hul-increased-price-of-wheel-detergent-rim-bar-lux-surf-excel-many-times-in-last-three-months/articleshow/89037315.cms">You have been paying more for detergents, soaps over the last three months</a>

India targets $500 billion exports for FY23, says DGFT official

New Delhi, Ed-tech titan <keyword id="3320944" type="General" weightage="20" keywordseo="Byjus" source="Orion">Byjus</keyword> is looking to sell its overseas ventures Epic and Great Learning to pay back its entire USD 1.2 billion (Rs 9,956 crore) loan to lenders, a source familiar with the matter said. The ed-tech decacorn has been in discussions with the lenders and has made a proposal to clear its Term B loan, the source said. Byju's hopes to garner between USD 800 million to USD 1 billion from the sale of Epic, the US-based kids learning firm, and Great Learning - the upskilling platform. The firm is also working on raising fresh capital from equity sales, and is working with bankers for the sale of the aforementioned key assets to strategic investors -- which has also garnered interest, the source said. An email sent to the ed-tech platform for comments remained unanswered. India's most-valued startup is hoping to repay the entire USD 1.2 billion term loan B (TLB) in under six months. Of this, it is proposing to repay USD 300 million in the next three months. Lenders have not yet responded to the proposal. Byju's in November 2021 raised USD 1.2 billion in debt through a term loan facility (TLB) from a group of overseas investors. A TLB is a type of senior secured syndicated credit facility that is issued by global institutional investors. Typically, the proceeds from a TLB are used to either refinance an existing debt or to make overseas acquisitions in order to enhance a company's offerings. Byju's had acquired Aakash USD 950 million in 2021. In July this year, the steering committee of ad hoc term loan lenders is reported to have agreed to amend the USD 1.2 billion term loan. The development comes after the company formed an advisory council with ex-Infosys CFO Mohandas Pai and Bharatpe Chairman and former SBI chief Rajnish Kumar after the exit of investors G V Ravishankar of Sequoia Capital (now Peak XV Partners), Vivian Wu of Chan Zuckerberg Initiative and Russell Dreisenstock of Prosus. Byjus had acquired Epic in a USD 500 million cash-and-stock deal in May 2022.

Byjus proposes sale of overseas units to repay $ 1.2 billion loan

New Delhi, Nov 17 (PTI) Global investment firm Blackstone-sponsored Nexus Select Trust filed the draft paper with market regulator SEBI on Thursday to launch India's first public issue of retail REIT to raise around USD 500 million, sources said. Nexus Select Trust has a portfolio of 17 operational shopping malls across 14 major cities, covering about 10 million square feet area valued around USD 3 billion. As per the sources, Nexus Select Trust has filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) and is looking to hit the capital market with India's first retail REIT (Real Estate Investment Trust) public issue in the first half of 2023 calendar year. The size of the initial public offer (IPO) of Nexus Select Trust REIT will be around USD 500 million, they added. This will be the third REIT sponsored by the Blackstone. It had earlier launched India's first REIT -- Embassy Office Parks REIT-- and then Mindspace Business Parks REIT. The REIT, a popular instrument globally, was introduced in India a few years ago to attract investment in the real estate sector by monetising rent-yielding assets. It helps unlock the massive value of real estate assets and enable participation of retail investors. At present, there are three listed REITs -- Embassy Office Parks REIT, Mindspace Business Parks REIT and Brookfield India Real Estate Trust -- on Indian stock exchanges but all these are of leased office assets. Nexus Select Trust will be the first REIT with rent-yielding retail real estate assets. In its portfolio of 10 million square feet of retail real estate, Nexus Select Trust has also included Select Citywalk mall in south Delhi. There are around 3,000 stores in its shopping malls while the number of brands are approximately 1,000. The sources said Blackstone is very bullish on the growth story of India's retail sector, which have bounced back sharply post the second wave of the Covid pandemic. "The fundamental of India's retail business is very strong. People are spending money and watching movies," a source said. Unlike office segment, there are not many players in shopping malls business and also the supply of Grade A malls is also limited, the sources said. On operational front, the occupancy level in the malls currently stands at 94 per cent with annual footfall of over 130 million, they said. The sales in its malls during the April-June quarter have been 24 per cent more than the pre-Covid level. Nexus Select Trust has done leasing of around 3.5 million square feet over the last three years and three months. Its senior management team consisting of nine CXOs (with 20+ years average experience) led by Dalip Sehgal (former executive director of Unilever India) as CEO is supported by over 500 employees. The board of directors is highly diversified and experienced. The key board members are Michael Holland (ex-CEO of the Embassy REIT), Arjun Sharma (Chairman and Director of the Select Group), Jayesh Merchant (ex-CFO Asian Paints), Sadashiv Rao (Former Director of IDFC) and Tuhin Parikh (Head of BX India Real Estate). Blackstone has a real estate portfolio of 85 assets totalling 150 million square feet across office, retail and logistics segments. In office, Blackstone is collectively one of India's largest office landlords (41 assets totalling 101 million square feet), while in logistics and industrial space, the Blackstone is one of India's largest warehousing landlords (21 assets totalling 38 million square feet). Blackstone has recently set up a fully-owned platform 'Lumina' to invest in data centres across Asia, with initial focus on India. India's first REIT of Rs 4,750 crore issue size was listed in April 2019 by Embassy Office Parks, sponsored by Blackstone and realty firm Embassy Group. In August 2020, K Raheja and Blackstone-sponsored Mindspace Business Parks launched the country's second REIT to raise Rs 4,500 crore. Global investment firm Brookfield has listed the country's third REIT after raising Rs 3,800 crore through an IPO.

Blackstone-backed Nexus files for $500 million IPO

<ul class="summary-list"><li>US stock futures rallied Tuesday, suggesting the <keyword id="11898248" type="UNKNOWN" weightage="60" keywordseo="sp-500" source="Orion">S&amp;P 500</keyword> could pare some of the previous day's losses.</li><li>The benchmark index fell to a one-year low on Monday, driven by investor fears over inflation and growth.</li></ul>US stock index futures rallied on Tuesday, suggesting a modest recovery at the open from the previous day's rout that drove the S&amp;P 500 to a one-year low, as investors bought back technology <keyword id="11893878" type="UNKNOWN" weightage="60" keywordseo="stocks" source="Orion">stocks</keyword> and other beaten down sectors. Meanwhile, bitcoin floundered around $30,000, amid a wider crypto market sell-off.The S&amp;P 500 fell 3.2% to its lowest in a year on Monday, marking its largest three-day fall since March 2020, when the pandemic first struck <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> and the economy. So-called growth stocks, such as tech shares, came under intense fire. US stock futures rallied on Tuesday, with those on the <a href="https://markets.businessinsider.com/futures/s&amp;p-500-futures">S&amp;P 500</a> up 1% and on the <a href="https://markets.businessinsider.com/futures/dow-futures">Dow Jones</a> 0.9% higher. <a href="https://markets.businessinsider.com/futures/nasdaq-100-futures">Nasdaq 100</a> futures gained 1.6%, indicating the index could pare some of Monday's near-4% decline.But that strength could be short-lived, analysts said."The probability of a tactical bear market rally is certainly elevated, but that's what it will be — a bear market rally and one where traders will sell in to — 'buy the dip' has morphed into 'sell on rallies'," Chris Weston, a strategist at brokerage Pepperstone, said.Investors are awaiting data on US consumer inflation due Wednesday that could be instrumental in determining how aggressively the Federal Reserve raises interest rates. Economists expect to see a rise of 8.1% in a basket of key consumer goods and services in April, thanks to an easing in the cost of things such as fuel and second-hand cars. That's below March's 8.7% increase, but would still be at a 40-year high.Meanwhile, the dollar hovered around this week's 20-year highs, buoyed by deteriorating investor confidence and growing chances the Fed will tackle inflation with big rate rises. That makes the US currency more appealing to overseas buyers, as it could bring better returns than they would get on assets in their own currencies.The <a href="https://markets.businessinsider.com/index/us-dollar-index">dollar index</a> eased 0.1% on the day, but remained within sight of Monday's peak at 104.187, its highest since late 2002."Not only is the Fed expected to hike rates at every meeting this year, but concern surrounding an economic slowdown in China are causing investors to favor the safe-haven assets, chief among them at present is the dollar," Mathew Ryan, a strategist at financial services provider Ebury, said in a note.Such is the outlook for US monetary policy that even a softer inflation reading wouldn't pose much of a headwind for the dollar, according to NatWest Market's Neil Parker. "The figures though might disappoint consensus expectations, which would, in my opinion, prompt a renewed rally in the USD against other majors as it would likely further embed expectations of significant additional monetary tightening from the Federal Reserve," he said in a daily note.China's battle to contain an outbreak of COVID-19 across the country has resulted in forced lockdowns in major financial and trading hubs, and cast doubt on the government's ability to reach its growth target of 5.5% this year. In turn, this has weighed on investor sentiment, driving China's yuan to two-year lows against the dollar this week. Cryptocurrencies have suffered a similar fate in recent weeks. <a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> dropped briefly below $30,000 on Tuesday, hitting its lowest since last July, as investors cashed out. The most-traded crypto was last down 5.4% at $31,809, having hit an overnight low of $29,994, according to CoinMarketCap.In <keyword id="11895969" type="UNKNOWN" weightage="60" keywordseo="commodities" source="Orion">commodities</keyword>, <a href="https://markets.businessinsider.com/commodities/gold-price">gold</a> benefited from the dip in the dollar, and rose 0.2% to $1,862 an ounce. That provided some respite, after mounting expectations for a steep rise in US rates drove the price close to three-month lows last week.<a href="https://markets.businessinsider.com/commodities/oil-price">Brent crude oil</a>, which has gained 35% this year due to concern about a supply shortfall from sanctions on Russia, was last 0.6% at $105.36 a barrel, while <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">WTI futures</a> fell 0.5% to $102.62.Read more<a href="https://www.businessinsider.com/how-to-invest-in-twitter-after-takeover-elon-musk-private-2022-5" target="_blank" rel="noopener noreferrer">: The boss of a $2.2 billion asset manager who's called the last two big bear markets lays out why he's moved virtually all his positions into cash. He shares what he wants to see before buying back in</a>

US stock futures bounce back after rout that sent the S&P 500 to 1-year lows, while bitcoin struggles at $30,000

New Delhi, May 17 () Sustainable funds in India have shown resilience during the coronavirus-triggered market selloff and attracted more than USD 500 million (over Rs 3,700 crore) in January-March largely due to growing investor interest in environmental, social and governance issues, says a report. Sustainable or ESG (environmental, social, and governance) funds in Asia (excluding Japan) witnessed an inflow of over USD 900 million during the quarter under review, according to the report by Morningstar. Such funds offer exposure to themes such as renewable energy, low carbon, green transport and environmental protection. "Indian funds experienced record inflows of USD 507 million in first-quarter 2020, supported by Axis ESG Equity, which received USD 239 million in inflows," the report noted. The inflows in the first quarter of calendar year 2020 speak of the stickiness of ESG investments. Investors in sustainable funds are typically driven by their values, invest for the long term, and seem to be more willing to ride out periods of bad performance, it added. During the quarter, Axis ESG Equity made its debut in India with USD 240 million seed capital and the fund assets under management (AUM) was pegged at Rs 1,554 crore. Apart from Axis MF, Quantum MF and SBI MF too have ESG funds. At the end of the March quarter, AUM of SBI Magnum Equity ESG stood at Rs 2,039 crore and that of Quantum India ESG Equity was over Rs 12 crore. Besides ESG funds, experts believe index funds and exchange traded funds (ETFs) are the other themes which are gaining traction among the country's mutual fund companies. During January-March, draft documents for as many as 17 new schemes were filed with markets regulator Sebi and a large chunk of these requests for new fund offers (NFOs) were for index funds and ETFs. Bucking the overall trend, the report said sustainable fund assets in Asia were up 21 per cent to USD 7.7 billion, bolstered by new fund launches. Globally, such funds witnessed an inflow of USD 45.6 billion during the quarter under review. In comparison, a withdrawal of USD 385 billion was seen in the overall fund universe. The assets in global sustainable funds dropped 12 per cent to USD 837 billion at the end of first quarter 2020, from a record high of USD 960 billion at the close of 2019. However, assets in the global fund universe took a greater hit, declining by 18 per cent. Europe continued to dominate the ESG space, housing 76 per cent of the global sustainable offerings and 81 per cent of the assets, but investor interest in other regions is growing, it said. European sustainable funds attracted inflows of USD 33 billion in the first quarter of 2020. This contrasts with the USD 163 billion in outflows suffered by the overall European fund universe. SP ABMABM

Sustainable funds in India attract USD 500 mn during COVID-19 selloff

<ul class="summary-list"><li><keyword id="2430955" type="COMPANY" weightage="60" keywordseo="MicroStrategy">MicroStrategy</keyword> spent roughly $489 million to purchase an additional 13,005 bitcoins, the company announced Monday.</li><li id="recirc">It paid an average price of about $37,617 per coin.<a href="https://www.businessinsider.com/?hprecirc-bullet"></a></li><li><keyword id="10467759" type="PERSON" weightage="60" keywordseo="michael-saylor">Michael Saylor</keyword>'s company now holds an aggregate of approximately 105,085 bitcoins.</li></ul><a href="https://markets.businessinsider.com/stocks/mstr-stock?utm_source=markets&amp;utm_medium=ingestgest">MicroStrategy</a> said Monday it spent roughly <a href="https://www.microstrategy.com/en/investor-relations/press/microstrategy-acquires-additional-bitcoins-and-now-holds-over-105000-bitcoins-in-total_06-21-2021">$489 million to purchase approximately 13,005 bitcoins</a> for an average price of about $37,617 per coin. Bitcoin has <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-btc-china-mining-crackdown-sichuan-cryptocurrencies-ether-2021-6-1030538480">fallen sharply in recent days</a> and dropped 8% on Monday to $32,590.Bitcoin bull Michael Saylor's company now holds an aggregate of approximately 105,085 bitcoins, which were acquired at an aggregate purchase price of approximately $2.741 billion and an average purchase price of approximately $26,080 per bitcoin.The last time MicroStrategy announced a large bitcoin purchase was in February, when the company purchased approximately 19,452 bitcoins for about $1.026 billion in cash at an average price of $52,765 per bitcoin, inclusive of fees and expenses.The recent dips in bitcoin haven't undermined <a href="https://markets.businessinsider.com/currencies/news/michael-saylor-microstrategy-bitcoin-investing-gold-inflation-ethereum-2021-6-1030529352">Saylor's steadfast bullishness.</a> Last week, MicroStrategy <a href="https://markets.businessinsider.com/currencies/news/microstrategy-bitcoin-purchase-sec-filing-1-billion-shares-michael-saylor-2021-6-1030522753">filed to sell as much as $1 billion in common shares</a> in part to fund additional bitcoin purchases. The company also completed the sale of $500 million in high-yield senior secured notes, offered so it could buy more bitcoin. Shares of MicroStrategy were down 7.65%, trading around $596, shortly after the opening bell on Monday.

You Searched For "USD 500 billion" and got 8 results

India's merchandise exports to rise 12-15%, reach USD 400 billion this fiscal: FIEO

PTI

India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030

BI India Bureau

India targets $500 billion exports for FY23, says DGFT official

PTI

Byjus proposes sale of overseas units to repay $ 1.2 billion loan

PTI

Blackstone-backed Nexus files for $500 million IPO

PTI

US stock futures bounce back after rout that sent the S&P 500 to 1-year lows, while bitcoin struggles at $30,000

Amanda Cooper

Sustainable funds in India attract USD 500 mn during COVID-19 selloff

PTI

MicroStrategy just bought another $489 million in bitcoin to add to its vast trove of the cryptocurrency

Emily Graffeo

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