Surat Emerges As 'Global Trade Hub' With $10.55 Bn Exports

(MENAFN- IANS) Gandhinagar, Feb 21 (IANS) Surat has emerged as a major global trade hub, recording exports of $10.55 billion (nearly Rs 95,710 crore) in the financial year 2024-25.

The city, known for its diamond industry, silk sarees, and textiles, has been a key contributor to Gujarat's export economy, which accounted for over 27 per cent of India's total exports, valued at Rs 9.83 lakh crore during the same period.

The Surat region processes around 90 per cent of the world's diamonds, with the gems and jewellery sector representing roughly 70 per cent of the city's total exports.

Beyond diamonds, Surat has experienced growth in sectors including human-made fibres, organic chemicals, mechanical machinery, technical textiles, and other fabric products.

This diverse industrial base has positioned the city as an important node in the global supply chain.

The United States is Surat's largest trading partner, receiving approximately 32 per cent of exports, followed by Hong Kong at 18 per cent and the United Arab Emirates at 14 per cent.

Trade relations are also expanding with Belgium, Israel, Saudi Arabia, and Thailand, reflecting the city's growing presence in international markets.

To further accelerate economic growth, the Vibrant Gujarat Regional Conference (VGRC) – South Gujarat will be held in Surat in April this year.

The conference will cover the districts of Bharuch, Dang, Navsari, Surat, Tapi, and Valsad, highlighting emerging sectors such as chemicals and petrochemicals, textiles and garments, gems and jewellery, pharmaceuticals, agriculture, and food processing.

The event will connect local MSME units with international markets, supporting initiatives like 'Vocal for Local' and 'Local for Global.'

In the context of recent trade agreements between India and the European Union and India and the US, South Gujarat is being promoted as a key destination for global investment.

With its production capacity, strategic location, and infrastructure, the region is set to play a significant role in India's export-led development.

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