India’s Exports Surpass $200 Billion in first quarter
India's exports crossed the $100 billion mark in the first quarter of 2024-25 (April-June), and the government is optimistic about achieving its full-year target of $400 billion.
According to the commerce ministry data, India’s overall exports, including both merchandise and services, reached $65.47 billion in June, marking a 5.4% increase year-on-year. The breakdown shows merchandise exports rose to $35.20 billion from $34.32 billion, while services exports increased to $30.27 billion from $27.79 billion.
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Imports also saw an uptick in June, with overall imports rising by 6.3% to $73.47 billion compared to the same period last year. The government’s optimism is buoyed by the country’s recent export performance. In the financial year 2023-24, India registered record exports of $778 billion, slightly higher than the previous year’s $776.3 billion.
Several factors have contributed to this growth, including the government’s Production Linked Incentive (PLI) scheme across various sectors, aimed at enhancing India’s global competitiveness and integrating the country into global supply chains.
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