India's Exports Grew 6% In Q1 Crossed US$ 210 Bn

(MENAFN- KNN India) New Delhi, Jul 16 (KNN) India's overall trade deficit decreased by 9.4 per cent to USD 20.3 billion in the first quarter of the current financial year, according to official data released by the Ministry of Commerce and Industry on Tuesday.

The improvement was primarily attributed to robust growth in services exports, which increased by nearly 11 per cent during the April-June 2025 period.

The country's total exports reached USD 210.3 billion in the first quarter, representing a 6 per cent increase from USD 198.5 billion recorded in the corresponding period of the previous financial year.

Commerce Secretary Sunil Barthwal indicated that the current export trajectory could potentially surpass last year's record performance, noting that both merchandise and services exports exceeded World Trade Organisation projections for global trade growth.

India achieved record-high total exports of USD 825 billion in the 2024-25 financial year, establishing a benchmark for the current period.

Services exports emerged as the primary growth driver, rising to USD 98.1 billion in the first quarter compared to USD 88.5 billion in the same period last year, marking an increase of nearly 11 per cent.

Merchandise exports demonstrated more modest growth, expanding by 2 per cent to USD 112.2 billion in the April-June quarter.

However, Commerce Secretary Barthwal emphasised that declining petroleum prices significantly influenced this figure, while non-petroleum exports registered a stronger 6 per cent growth rate during the period.

Total imports increased by 4.4 per cent to USD 230.6 billion in the first quarter, with merchandise imports growing 4.2 per cent and services imports expanding 4.9 per cent.

The electronics sector led export growth with a substantial 47.1 per cent increase to USD 12.4 billion, followed by marine products, which grew by more than 19 per cent to USD 1.9 billion. Tobacco and tea exports also recorded double-digit growth of approximately 19 per cent and 16 per cent, respectively.

Import growth was concentrated in specific categories, with sulphur and unroasted iron pyrites showing the highest increase at 284 per cent, followed by silver at 216 per cent, chemical materials and products at 142 per cent, and raw and waste cotton at 73 per cent.

The United States maintained its position as India's largest export destination, with bilateral trade growing 22.1 per cent to USD 25.5 billion in the first quarter.

The remaining top export markets included the United Arab Emirates at USD 9.04 billion, the Netherlands at USD 5.65 billion, China at USD 4.4 billion, and the United Kingdom at USD 3.3 billion.

China continued to be India's primary source of imports, with trade volumes increasing 16 per cent to USD 29.7 billion.

Other significant import partners included the UAE at USD 16.8 billion, Russia at USD 16.77 billion, the United States at USD 12.86 billion, and Iraq at USD 7.26 billion.

(KNN Bureau)

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