India’s October exports hit $39.2 billion, up 17 percent, while imports reached $66.3 billion, leading to a $27.1 billion trade deficit.
India’s goods exports grew 17 percent in October to $39.2 billion, the fastest in 28 months, driven by Christmas demand. Imports rose 3.8 percent to a record $66.3 billion, resulting in a $27.1 billion trade deficit.
Commerce Secretary Sunil Barthwal expressed optimism, projecting record-high exports surpassing $800 billion in 2024-25, aided by a focus on key sectors and Production Linked Incentive (PLI) schemes.
Non-oil exports during April-October reached an all-time high. Electronics exports surged 45 percent to $3.4 billion in October, while engineering goods and garments grew 35 percent, and chemicals rose 27 percent. However, April-October exports showed a modest 3.3 percent growth to $252 billion, while imports rose 5.6 percent to $419 billion, affected by weak demand in Europe, U.S. market challenges, and West Asia tensions.
Industry leaders urged government support for MSMEs and export sectors, calling for deeper interest subvention and liquidity measures to sustain growth amid global supply chain disruptions.
