India's Export Growth Soars Across Multiple Sectors In 2024
Date
12/28/2024 2:06:52 PM
(MENAFN- KNN India)
New Delhi, Dec 28 (KNN) India has demonstrated robust export performance across various sectors, with significant growth in agricultural, engineering, electronics, and Pharmaceutical exports during the April-October 2024 period, according to the Commerce and industry Ministry's year-end review.
Agricultural and allied products exports increased to USD 27.84 billion from USD 26.90 billion in the corresponding period of 2023.
The spice sector showed remarkable progress, with exports reaching USD 4.2 billion in 2023-24, up from USD 2.4 billion in 2013-14. During April-October 2024, spice exports grew by 10 percent to USD 2.47 billion.
Rice exports also witnessed substantial growth, with basmati rice exports increasing to USD 3.38 billion, marking a 14.28 percent growth compared to the previous year's period.
Engineering goods continued their strong performance, recording a 9.73 percent increase to reach USD 67.48 billion during April-October 2024.
The auto components sector demonstrated notable growth, with exports rising to USD 4.81 billion, an 8.98 percent increase from the previous year's figure of USD 4.41 billion.
A standout performer was the electronics goods sector, which registered an impressive 23.69 percent growth, with exports reaching USD 19.07 billion during April-October 2024.
The pharmaceutical sector maintained its momentum, with drugs and pharma exports growing by 8 percent to reach USD 17.05 billion, reinforcing India's position as a major exporter of generic drugs and medical devices.
The textile sector, crucial for employment generation, showed significant improvement with ready-made garment exports increasing by 11.59 percent to reach USD 8.73 billion during April-October 2024.
This comprehensive growth across sectors underscores India's expanding export capabilities and its successful diversification into new markets while maintaining leadership in traditional export segments.
(KNN Bureau)
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