New Delhi, 16/01/2025: India’s exports showed steady growth during the first nine months of 2024-25, despite a small 1% drop in December to just over $38 billion. Commerce Secretary Sunil Barthwal noted that this was the third time exports crossed $38 billion this year. Total exports from April to December 2024 increased by 1.6% to $321.7 billion, showing stability in tough times.
Imports rose by 4.9% in December to nearly $60 billion, while the trade deficit dropped to $21.9 billion, its lowest in three months, down from November’s record $31.8 billion. Officials said the improvement was due to a sharp fall in gold imports, which dropped from $9.9 billion in November to $4.7 billion in December, even as petroleum imports stayed steady.
Non-petroleum exports performed well, growing by 5.05% in December and 7.05% over the April-December period. Although falling petroleum prices hurt trade, officials stressed the need to diversify exports and markets to keep growth steady. Key industries have stayed strong despite global challenges. Challenges to keep growth steady. Key industries have stayed strong despite global challenges. Exporters raised concerns about issues like currency changes, unstable commodity prices, and shipping problems that hurt exports to markets in Europe and Africa. They called on the government to support small and medium businesses in the Union Budget by improving trade financing and competitiveness.
Looking ahead, exporters see new chances in the global market, especially in the U.S., where tariff changes by the new administration could help Indian goods. They urged the government to focus on key markets, extend helpful schemes, and fix GST issues to keep export growth on track.
