India's exports of goods & services surge 12.7 per cent to $73 billion in April

New Delhi, May 15 (IANS) India total exports of goods and services clocked a robust 12.7 per cent growth in April to touch the $73.80 billion mark compared with the corresponding figure of $65.48 billion during the same month last year, despite the global economic uncertainties triggered by the US tariff hikes, according to figures released by the Commerce Ministry on Thursday.

The country’s merchandise exports shot up by 9.03 per cent to $38.49 billion during the month with high-value electronics and engineering goods registering the highest growth.

Electronic goods exports increased by a whopping 39.51 per cent to $ 3.69 billion in April from $2.65 billion in the same month last year.

Engineering goods exports increased by 11.28 per cent to $9.51 billion during the month from $8.55 billion in April last year while gems and jewellery exports increased by 10.74 per cent to $2.5 billion from $2.26 billion.

Ready-made garments also registered a strong double digit growth of of 14.43 per cent to $ 1.37 billion during the month from $ 1.2 billion in April last year.

Similarly, rice exports increased by 13.63 per cent from $0.95 billion to $1.08 billion during the month, reflecting the better performance of the agricultural sector on the back of a better monsoon and adequate availability of fertilisers.

Marine products exports also performed well with a 17.81 per cent year-on-year increase from $0.49 billion to $0.58 billion during the month while drugs & pharmaceuticals exports grew by 2.37 per cent from 2.43 billion to $ 2.49 billion.

India's services trade imports reached $17.54 billion, up from $16.76 billion in April 2024, leaving a surplus for services trade at $17.77 billion during the month.

This helped to reduce the country's overall trade deficit as the merchandise trade deficit rose to $21.54 billion for April.

India's total imports of merchandise and services for April this year are estimated at $82.45 billion, registering a growth of 15.72 per cent over the same month last year. The overall trade deficit works out to a manageable $8.65 billion.

--IANS

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