New Delhi: India’s goods and services exports increased by 5.4 per cent in June to $65.47 billion while the cumulative overall growth of exports during the April-June quarter this year rose 8.6 per cent to $200.33 billion, according to figures released by the Commerce and Industry Ministry on Monday.
“India’s total exports in the first quarter of 2024-25 have crossed $200 billion and, if this trend continues, we hope this fiscal year’s exports cross $800 billion,” said Trade Secretary Sunil Barthwal, releasing the monthly trade figures.
The figures show merchandise exports registered a positive growth of 2.55 per cent at $35.20 billion in June as compared to $34.32 billion in June 2023; The cumulative value of merchandise exports during April-June 2024 stands at $109.96 billion as compared to $103.89 billion during April-June 2023, registering a positive growth of 5.84 per cent.
Non-Petroleum & Non-Gems & jewellery exports registered an increase of 8.48 per cent from $25.29 billion in June 2023 to $27.43 billion in June 2024.
Major drivers of merchandise export growth in June 2024 include engineering goods, electronic goods, drugs & pharmaceuticals, coffee and organic & inorganic chemicals.
Engineering goods exports increased by 10.27 per cent from $8.52 billion in June 2023 to $9.39 billion in June 2024.
Electronic goods exports increased by 16.91 per cent from $2.42 billion in June 2023 to $2.82 billion in June 2024.
Drugs and pharmaceutical exports increased by 9.93 per cent from $2.25 billion in June 2023 to $2.47 billion in June 2024.
Coffee exports increased by 70.02 per cent from $0.12 billion in June 2023 to $0.20 billion in June 2024.
Organic and inorganic chemicals exports increased by 3.32 per cent from $2.22 billion in June 2023 to $2.29 billion in June 2024.
Total imports (merchandise and services combined) for June 2024 are estimated at $73.47 billion, registering a positive growth of 6.29 per cent vis-a-vis June 2023.
Total imports during April-June 2024 are estimated at $222.89 billion registering a growth of 8.47 per cent.
The figures show strong growth in the country’s services exports with a services trade surplus for April-June 2024 at $39.70 billion as compared to $35.12 billion in April-June 2023.
(IANS)
