India's exports surge to $74.97 bn in Jan 2025 from $68.33 bn, trade deficit rises to $2.67 bn

New Delhi [India], February 17 (ANI): India's overall exports, comprising both merchandise and services, rose to USD 74.97 billion in January 2025, marking an increase from USD 68.33 billion in January 2024, according to data released by the Commerce Ministry.

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However, the country's trade deficit too widened to USD 2.67 billion from USD 0.39 bn as imports surged to USD 77.64 billion, compared to USD 68.72 billion in the same month last year.

Commerce Secretary Sunil Barthwal highlighted the robust export performance during April 2024 to January 2025, stating, "Our exports during April-Jan has seen a growth of 7.21 percent. During April-Jan we have witnessed USD 46 bn Dollar increase from the last year same period. During the same period our Merchandise exports earned USD 5 bn Dollar."

"Our non-petroleum exports in January alone increased 14.47 per cent which is very high. This reflects that we are doing very good in Merchandise and Services exports," he added.

Among key sectors, rice exports saw an impressive jump of 44.61 per cent, reinforcing India's dominance in global rice trade. Additionally, gems and jewellery exports witnessed a revival, growing by 15.9 per cent in January, marking a significant recovery in the segment.

Despite ongoing geopolitical conflicts and tariff challenges, India's exports have remained resilient, reflecting the strength of the country's trade policies and global market demand.

As of January 15, India's exports witnessed a 6.03 per cent growth during April-December 2024, reaching an estimated USD 602.64 billion, compared to USD 568.36 billion in the same period of 2023.

Merchandise exports for the first nine months of FY2024 stood at USD 321.71 billion, reflecting a modest 1.6 per cent rise from USD 316.65 billion in the previous year. Notably, non-petroleum exports in December 2024 surged by 5.05 per cent, reaching USD 33.09 billion, up from USD 31.50 billion in December 2023. (ANI)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)