India's Export Boom: A Rising Star in Global Trade

India's merchandise exports surged by 17.25% in October, the highest in over two years, reaching USD 39.2 billion. The trade deficit widened to USD 27.14 billion. Commerce Secretary Sunil Barthwal attributes this success to focused strategies in key sectors and target countries, with expectations to cross USD 800 billion in exports this fiscal year.

India's merchandise exports soared by 17.25% in October, reaching an unprecedented USD 39.2 billion, marking the highest rise in over two years. This increase, however, was accompanied by a trade deficit expansion to USD 27.14 billion, according to official data released on Thursday.

Commerce Secretary Sunil Barthwal remained optimistic, citing strategic efforts focusing on six pivotal sectors—engineering, electronics, pharma, chemicals, plastics, and agriculture—and 20 key countries. These concerted efforts aim to leverage 67% of global import shares for these sectors and secure India's place in the international market.

Barthwal emphasized ongoing initiatives, including brand India promotions and trade barrier addressals, with plans for extensive trade engagements with countries across Europe, America, Asia-Pacific, Africa, and the Middle East to sustain this export momentum.

(With inputs from agencies.)