India’s goods and services exports clock 6pc growth to scale $602bn mark in April-Dec

New Delhi: India’s total exports of merchandise and services have clocked a 6.03 per cent growth to $602.64 billion during April-December of the current financial year from $568.36 billion in the same period of the previous financial year, the Commerce and Industry Ministry announced on Wednesday.

The cumulative value of merchandise exports during April-December 2024 was $321.71 billion, as compared to $316.65 billion during April-December 2023, registering a positive growth of 1.6 per cent, the official statement said.

India’s total exports of merchandise and services for December 2024 are estimated at $70.67 billion, registering a positive growth of 0.92 per cent vis-a-vis December 2023 while the total imports of merchandise and services for the month is estimated at $77.44 billion, which represents a 6.4 per cent increase over the same month of the previous year.

The major drivers of merchandise exports growth in December 2024 include electronic goods, engineering goods, rice, ready-made garments of all textiles and handloom products.

Electronic goods exports increased by 35.11 per cent from $2.65 billion in December 2023 to $3.58 billion in December 2024.

Engineering goods exports increased by 8.35 per cent from $10.01 billion in December 2023 to $10.84 billion in December 2024.

Rice exports increased by 64.03 per cent from $0.87 billion in December 2023 to $1.43 billion in December 2024.

Exports of ready-made garments of all textiles increased by 12.89 per cent from $1.30 billion in December 2023 to $1.46 billion in December 2024.

The exports of cotton yarn, fabrics and handloom products rose by 11.98 per cent from $0.94 billion in December 2023 to $1.05 billion in December 2024.

Non-petroleum exports in December 2024 were valued at $33.09 billion registering an increase of 5.05 per cent compared to $31.50 billion in December 2023.

The cumulative non-petroleum exports in April – December 2024 valued at $272.70 billion represented an increase of 7.05 per cent compared to $254.74 billion in April-December 2023.

Non-petroleum, Non-Gems and Jewellery exports registered an increase of 8.25 per cent from $28.60 billion in December 2023 to $30.96 billion in December 2024.

The estimated value of services exports for December 2024 is $32.66 billion as compared to $31.63 billion in the same month of the previous year while services imports for the month have been estimated at $17.50 billion up from $15.63 billion in December 2023.

–IANS