Indian exports break the slump

There is some visible improvement in India's export track record, reflecting positively on the Narendra Modi led administrations many efforts in the field. Maruti exports hit milestone

India-based automotive firm, Maruti Suzuki, hit a milestone in its export figures with 15 lakh units in cumulative sales. "These vehicles have been exported to over 100 countries including Europe, Latin America and Africa. Early this year, the company′s premium hatchback Baleno, manufactured exclusively in India, became the first car to be exported from India to Japan," the company said in a statement. The firm had started exports to Europe in 1987-88 and has gradually added more names to the list of its export markets since then. Maruti Suzuki managing director and CEO Kenichi Ayukawa said: "Maruti Suzuki has consistently maintained a presence in international markets, regularly offering new products and reaching out to new countries. Our products like Zen, A-Star, Maruti 800 and Alto have made a mark overseas, including in the most competitive markets of Europe." In 2015-16, the firm's top five exported models were Alto, Swift, Celerio, Baleno and Ciaz and the main destinations were Sri Lanka, Chile, Philippines, Peru and Bolivia. Indian handicraft exports weave new story

India's handicraft exports have registered a spike of 8.46 per cent during the last fiscal year, touching nearly $4.5 billion (Rs 31,000 crores). The figures were revealed by Indian textiles minister Smriti Irani in Parliament this week. Irani said a proposal for creation of an e-marketing platform under the marketing support and service scheme has also been received from Export Promotion Council for Handicrafts in order to facilitate buyers and sellers to procure/sell as well as to promote products, both in domestic as well as international markets online. The minister also revealed the Central Cottage Industries Corporation and Handloom and Handicrafts Export Corporation have already undertaken digital marketing. The minister described the Indian handicraft sector is an unorganised sector with a unique identity for each craft. India software exports on a high

India′s exports of computer software and services to the Middle East hit $2 billion (Dh7.34 billion) in the fiscal year 2015-16, according to latest reports. Kamal Vachani, honourary regional director of the Electronics and Computer Software (ESC) Export Promotion Council told local media that India′s electronics hardware exports to the region crossed Dh1 billion during the fiscal year 2015-16. Among regional countries, the UAE is the top destination for India′s electronics exports, followed by Saudi Arabia. India′s total exports of computer software and services jumped by more than 10 per cent to $107 billion in 2015-16 compared to $97 billion during the fiscal year 2014-15. Electronics hardware exports were worth $5.7 billion in the fiscal year 2015-16. By 2020, India′s hardware exports market is estimated to touch $400 billion. Vachani said: "The ESC has been facilitating Indian participation on a regular basis at Gitex Technology Week to take advantage of the booming IT market in the Gulf and leverage that association for getting businesses for Indian IT companies from a multitude of large global corporations executing projects in the region. “Naturally, India has a great stake in the booming Middle East, Africa, Asia and European markets for which Dubai is the gateway. Thus, the event provides participating Indian ICT companies opportunities for scouting the expanding Middle East market." This year, the five-day Gitex Technology event will start from October 15 at the Dubai International Convention and Exhibition Centre.