India's Export Surge: A Promising Start to the Fiscal Year

India's exports saw a 9.03% increase in April, reaching USD 38.49 billion, driven by sectors like electronics and engineering. Despite a widening trade deficit, the commerce ministry remains optimistic. Imports grew by 19.12%, mainly due to crude oil and fertilizer. Export strategies focus on key countries and commodities.

India's exports experienced a notable 9.03% growth in April, climbing to USD 38.49 billion, supported by robust performances in electronics and engineering goods. However, the trade deficit reached a five-month high of USD 26.42 billion.

Data from the commerce ministry released Thursday revealed that imports shot up by 19.12% year-on-year to USD 64.91 billion in April, fueled by increased shipments of crude oil and fertilizers. This surge pushed the trade deficit, the gap between imports and exports, to its largest since November 2024, when it stood at USD 31.77 billion.

Export growth was observed across several sectors, including tobacco, coffee, marine products, and ready-made garments, while substantial rises were noted in electronics and engineering goods exports. In response to the data, Commerce Secretary Sunil Barthwal expressed hope for sustaining this export momentum despite global challenges, attributing success to a strategic focus on key markets and commodities.

(With inputs from agencies.)