India’s exports showed a strong rebound in November after a steep fall in October. Commerce and Industry Minister Piyush Goyal said the recovery was healthy and decisive. He noted that the surge in November offset the earlier slump. When both months are taken together, merchandise exports showed overall growth.
The government will release the official November trade data on December 15. It will include updated figures for both exports and imports.
India faced a sharp setback in October. Exports dropped to USD 34.38 billion, a 11.8 per cent fall. The decline was mainly due to higher tariffs imposed by the United States.
The drop also pushed the trade deficit wider. It jumped to USD 41.68 billion in October, largely due to a surge in gold imports.
For the April-October period of the current fiscal year, export performance remained modest. Total exports rose only 0.63 per cent to USD 254.25 billion. Imports, however, increased by 6.37 per cent to USD 451.08 billion. This imbalance added pressure on the trade gap.
Growth Regains Momentum
Despite these challenges, Goyal remained confident about India’s economic strength. He highlighted several positive indicators. Economic growth remains strong. Inflation stays low and stable. Foreign exchange reserves remain robust.
Capital inflows continue to be healthy. Investments in infrastructure are rising. Consumer spending also remains resilient.
Goyal also commented on the rupee’s recent fall. The currency slid to a record low of ₹90.15 against the US dollar. He said such movements usually raise inflation concerns. Still, he insisted that the Indian economy “continues to power on” despite currency volatility.
The minister stressed India’s ongoing efforts to integrate deeper into global trade networks. He said the government is actively negotiating multiple free-trade agreements.
These include discussions with the United States, the European Union, New Zealand, Oman, Chile and Peru. He noted that these agreements can open new opportunities for exporters and strengthen India’s position in global value chains.
Goyal emphasised that the export rebound and broader economic stability show India’s resilience. He said the country remains well placed to navigate global uncertainties. With stronger trade partnerships and sustained domestic momentum, India aims to push ahead with its growth and trade expansion plans.
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