India’s merchandise exports reached $35.2 billion in June, marking a 2.56 percent increase year-on-year.
India’s merchandise exports rose to $35.2 billion in June, up 2.56 percent from $34.32 billion in the same month last year, according to government data released on Monday. Imports also saw a rise of approximately 5 percent, totaling $56.18 billion compared to $53.51 billion in June of the previous year. The trade deficit for June was recorded at $20.98 billion.
Commerce Secretary Sunil Barthwal, in a media briefing, indicated that based on the current trends, India’s total exports of goods and services could exceed $800 billion in the current fiscal year. He noted that in the first quarter of 2024-25, exports of goods and services were around $200 billion.
India’s merchandise exports experienced a notable 9.1 percent growth in May, reaching $38.13 billion, despite the trade deficit expanding to a seven-month high of $23.78 billion. Over the April-June period of this fiscal year, exports increased by 5.84 percent, totaling $109.96 billion, while imports grew by 7.6 percent, reaching $172.23 billion.
