Japan's exports to the United States fell slightly, but the trade surplus rose, which could invite scrutiny from U.S. President Donald Trump.
Exports to the United States fell 0.9 percent in June from the same period a year ago due to a decline in shipments of cars and semiconductor manufacturing equipment, two of Japan's most important export products.
India is likely to end the marketing season on September 30 with inventory of 10 million tonnes, compared with 3.87 million tonnes a year ago.
As per the latest SIAM data, PV exports declined to 1,67,161 units in the April-June period as compared with 1,80,464 units in the same quarter of 2017-18.
Prabhu was addressing exporters on preparing a strategy to add 100 billion dollar to India's exports. The strategy is expected to be finalised by the end of this month.
USA, the leading destination for Indian seafood in value terms, imported seafood worth USD 2,320.05 million, registering a growth of 31.37 percent, 28.63 percent and 33. 97 percent in quantity, rupee and dollar terms, respectively.
Lower shipments from the world's second-biggest sugar producer could support global prices, but would increase India's opening stocks for the next marketing season when output is expected to surge to a record.
To face the onslaught of the Chinese, it was important for India to enter into FTA with EU, US, the UK and Russia, Comprehensive Economic Partnership Agreement with Australia and Comprehensive Economic Cooperation Agreement with Canada and other promising countries
According to Export Promotion Council for EOUs & SEZs (EPCES), highest growth in outward shipments was recorded from the Cochin SEZ which witnessed a 704 percent jump from Rs 461 crore in April last year to Rs 3,708 crore this year.
The meeting assumes significance as India's exports dipped after a gap of four months in March. Exports contracted by 0.66 percent to USD 29.11 billion due to negative growth in several key sectors.
Addressing regional officers of the Directorate General of Foreign Trade (DGFT) from across the country during a meeting, the minister asked them to act as facilitator and not a regulator, according to a release by the Commerce and Industry Ministry.
The drop in the trade gap could point to higher growth in the first quarter than previously expected and comes as President Donald Trump pursues a fraught two-front trade confrontation with the European Union and China.
According to agri-export promotion body APEDA, the country exported 13,48,225 tonnes of buffalo meat for Rs 25,988 crore during the last fiscal.
The country's buffalo meat exports in the year ended March 31 rose nearly 2 percent to 1.35 million tonnes on upbeat demand from Vietnam, Malaysia and Egypt, the Agricultural and Processed Food Products Export Development Authority said.
The exports stood at Rs 2,89,207.47 crore in 2016-17, according to data by the Gem and Jewellery Export Promotion Council (GJEPC) of India.
Exporters want the IT backbone GSTN to be linked with the National Securities Depository Ltd (NSDL) portal for smooth facilitation of the tax refunds
The government last month allowed export of 2 million tonnes of sugar under the MIEQ scheme for the 2017-18 marketing year, in order to clear surplus stocks and improve cash flow to millers for making payment to sugarcane farmers.
During the corresponding period in 2016, 6.63 lakh tonnes valued at Rs 12,607.46 crore was exported, a Spices board press release said. In Dollar terms,spices exports were pegged at US$ 2041.23 million as compared to US$ 1880.02 million, notching an increase of nine percent in value.
"The coffee exports were at all-time high in FY 2017-18 because of increased shipments of value-added products, especially instant coffee," a senior board official told PTI.
The commerce and industry minister is visiting Africa at the end of the month to discuss trade and investment opportunities with businesses and leaders of 12 countries.
Exports aggregated at USD 302.84 billion in 2017-18 as compared to USD 275.85 billion in the previous fiscal.
The list of items, which include radiation monitoring equipment and software that can be used to model fluid dynamics or neutrons, is in line with a UN Security Council resolution adopted in September to curb North Korea's ballistic missile and nuclear programmes.
Exporters will get a 7 percent incentive of the value of the shipment, the government said in its order.
"In last few months, we are seeing exports registering growth. We are targeting to ensure that exports are not only traditional products, but new products are also added to the basket. We are focusing on services and have identified 12 services as 'Champion Services'," Prabhu said after inaugurating CapIndia event here.
Debroy further highlighted that India is facing a dilemma from the point of view of pushing exports, as exporters would like exchange rate to depreciate, however exchange rate might not depreciate as much as exporters want because of capital inflows.