India's Exports Surge Despite Global Challenges

India's exports saw a marginal rise in March, reversing a four-month downturn. The country's overall exports reached a record USD 820 billion in the last fiscal year, amid global uncertainties. Key growth sectors included engineering, electronics, and pharma, while petroleum and coal imports declined.

India's export sector showed signs of recovery in March with a modest 0.7% increase, marking the end of a four-month decline. The country achieved a record USD 820 billion in exports of goods and services for the previous fiscal year, despite facing significant global economic challenges.

Trade deficit widened to USD 21.54 billion in March from USD 15.33 billion a year prior. For the 2024-25 fiscal year, total exports grew slightly by 0.08% to USD 437.42 billion, while imports rose by 6.62%, hitting USD 720.24 billion, resulting in a trade deficit of USD 282.82 billion.

Major export sectors benefiting from growth included engineering, electronics, and pharmaceutics, while sectors like petroleum, gems and jewellery, saw declines. The Commerce Secretary noted the highest-ever merchandise exports, crediting sectors like ready-made garments and electronics as significant contributors to this advancement.

(With inputs from agencies.)