Merchandise Exports

India's overall exports likely to have crossed $800 billion in FY25

The country's goods and services exports are estimated to have crossed USD 800 billion in 2024-25, though merchandise shipments have remained flat, sources said. The 2024-25 figures for exports and imports will be released by the commerce ministry on April 15. The sources added that in 2025-26, the country's merchandise exports will record a positive growth. In 2024-25, the exports are "flat", the sources said. Exports are in the negative for the fourth month in a row in February due to global economic uncertainties. India's merchandise exports stood at USD 395.63 billion during April-February 2024-25 as against USD 395.38 billion in the same period previous year. The estimated value of service exports during April-February 2024-25 is USD 354.90 billion as compared to USD 311.05 billion in April-February 2023-24.

Merchandise exports may fall slightly to $435 billion in FY25: GTRI

The country's merchandise exports, which have been contracting since October last year, are expected to decline slightly by the end of this fiscal year and fall below USD 435 billion, think tank GTRI said on Sunday. Exports dipped 10.85 per cent in February to USD 36.91 billion due to volatility in petroleum prices and global uncertainties. "At this rate, India's total merchandise exports for FY'2025 are expected to be below USD 435 billion, slightly lower than USD 437.1 billion in FY'2024," Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. During April-February 2024-25, the exports stood at USD 395.63 billion as against USD 395.38 billion in the corresponding period of 2023-24. Key sectors that recorded negative growth both in February and cumulatively include petroleum products, gems and jewellery, ceramic products and glassware, oil seeds, oil meals, and iron ore. These sectors are facing consistent declines, indicating the need for strategic interventions t

India's exports shrink 10.9% in February, the worst show in 20 months

Commerce secretary Sunil Barthwal said that although FY25 has been a difficult year, the country is moving towards achieving $800 billion in combined exports of goods and services in the current FY

Trade deficit eases to $21.94 billion in December as gold imports fall

Data showed merchandise exports contracted by 1 per cent year-on-year to $38.01 billion in December

UP govt's new export policy to provide additional benefits to exporters

The proposed policy would introduce several incentives for exporters, especially in the food processing, handicrafts, and One District One Product sectors

Brics+ share in merchandise exports can overtake G7 by 2026: EY India

The share of BRICS+ grouping in global merchandise exports can overtake the G7 bloc by 2026, EY India said on Wednesday. The October edition of EY Economy Watch reveals a significant shift in global trade dynamics, with the BRICS+ group rapidly increasing its share in merchandise exports and imports. From 2000 to 2023, the BRICS+ group's share of global merchandise exports has risen from 10.7 per cent to 23.3 per cent, marking an impressive increase of 12.6 percentage points. In contrast, the G7's share has seen a notable decline, dropping from 45.1 per cent to 28.9 per cent. Meanwhile, the rest of the world has maintained a relatively stable share, increasing slightly from 44.2 per cent to 47.9 per cent. G7 is a grouping of advanced economies -- the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom. This trend highlights the growing prominence of the BRICS+ group in the global trade arena, suggesting a potential shift towards a multipolar global economi

Exports to top-10 nations grow faster than overall figures in Q1 FY25

After witnessing a 3 per cent contraction in the financial year 2023-24, outbound shipments from India saw positive growth in the three consecutive months

India's merchandise exports may grow to $500-510 bn in FY25: FIEO

Apparel, footwear and gems & jewellery sectors set to post better results

India's export reliance on US grows despite diversification push

The share of the US in India's total exports continuously declined from a high of 21.7 per cent in 1998-99 to a low of 10.1 per cent in 2010-11

Exim Bank expects 12.3% growth in exports during Apr-Jun quarter to $116 bn

The Export-Import Bank of India on Thursday said India's merchandise exports would grow by 12.3 per cent year-on-year to USD 116.7 billion in the April-June quarter this fiscal. "These positive growth rates are expected to be witnessed in continuation of the positive growth witnessed during the last two quarters of the previous financial year," India Exim Bank said in a statement. The positive growth in India's exports could be the result of the country's GDP growth fundamentals and outlook, and sustained momentum in the manufacturing and services sector, it added. "Export-Import Bank of India forecasts India's total merchandise exports to amount to USD 116.7 billion, witnessing a y-o-y growth of 12.3 per cent," it said. It added that the growth in exports is expected to continue to witness a positive momentum in the forthcoming quarters. However, it cautioned that the outlook is subject to risks of uncertain prospects for advanced economies, geopolitical shocks, and the Middle Ea

WTO pares down projected merchandise trade volume growth to 2.6% for FY24

India's merchandise exports in value terms are expected to contract by 1-1.5 per cent in 2023-24 after two consecutive years of growth

Merchandise exports may shrink despite expecting double-digit growth in Mar

Merchandise exports grew at fastest pace in 20 months at 11.9% in Feb

Exports grow fastest in 20 months; Feb trade deficit widens to $18.71 bn

Export growth in February was led by electronics, meat, dairy and poultry, chemicals, drugs and pharmaceuticals, and engineering goods

Merchandise exports set to moderate to $435 billion in FY24: Exim Bank

India's merchandise exports are likely to moderate to USD 435.3 billion in FY24 against 447.46 billion in FY23, the Exim Bank said on Wednesday. The merchandise exports are set to grow by nearly 3 per cent to USD 118.2 billion in the March quarter compared to the same period a year ago. It can be noted that the merchandise exports declined for the first two quarters of the ongoing 2023-24. In its quarterly study on the overall exports, the policy bank said the non-oil exports will grow 4.55 per cent to USD 95 billion in the January-March 2024 quarter. "Positive growth in India's exports could be as a result of India's strong GDP growth fundamentals and outlook and expected global easing of monetary tightening spurring global demand," the bank said in the report. The oil exports are likely to remain subdued during the year, contracting by USD 12.5 billion compared to FY23, the bank said. The outlook is subject to risks of uncertain prospects for advanced economies, geopolitical sh

New FTAs, lower cost of power, logistics to help boost exports: PHDCCI

Measures like comprehensive trade pacts, reduction in cost of capital, power, and land reforms will help boost India's exports of goods and services to USD 2 trillion by 2030, an industry chamber report said on Thursday. The PHDCCI's report also recommended schemes for 75 potential export products including marine items, iron ore, some chemicals, pharma, cotton, aluminium, and tankers to promote shipments. "The 75 products have been identified from nine most promising sectors. These products contribute around USD 222 billion, which is around 50 per cent of India's total exports. At the global level, these 75 products have significant presence in world exports, whereas India's share of these products is only 6 per cent of the total world exports," it said. The report - India's Emerging Export Dynamics: Vision USD 2 Trillion Exports by 2030. - added that India's service exports have traditionally been concentrated in North America and Europe, but growing continents like Asia, Africa,

Govt deserves praise for e-SHC initiative

The commerce ministry says that with the launch of this new system, the number of status holders will go up from 12,518 to about 20,000

Export contraction narrows in September; govt sees 'green shoots'

Outbound shipments fall 2.6%; imports decline 15%

Cargo terminals, trucking hubs in the works to boost exports in UP

A committee under the transport commissioner has been constituted to evaluate private investment proposals for the setting up of the logistics network

Centre extends RoDTEP scheme till June 30 amid faltering exports

The scheme has now been extended until 30 June at the same rates for the existing export items

Statsguru: Rising relevance of Brics in global merchandise export market

It was at 20 per cent in 2022 compared to 5 per cent in 1992. They also account for a quarter of the world's economy