India reports 4.8% export growth in first half of FY25

India’s overall exports reached $393.22 billion during the April-September period of FY25, marking a growth of 4.86 per cent compared to $375 billion in the same timeframe last year, according to the Ministry of Commerce and Industry.

Merchandise exports contributed $213.22 billion in the first six months, a slight increase of 1.02 per cent from $211.08 billion during the same period in FY24. Additionally, services exports are projected to grow by 9.81 per cent in the current fiscal half.

In September alone, India’s total exports—encompassing both merchandise and services—were estimated at $65.19 billion, reflecting a year-on-year growth of 3.76 per cent.

Key contributors to merchandise export growth in September included engineering goods, organic and inorganic chemicals, plastics and linoleum, pharmaceuticals, and ready-made garments (RMG). Notably, engineering goods exports surged by 10.55 per cent, rising from $8.89 billion to $9.82 billion. Exports of organic and inorganic chemicals increased by 11.21 per cent, climbing from $2.12 billion to $2.36 billion.

Plastics and linoleum exports saw a substantial rise of 28.32 per cent, moving from $0.62 billion in September 2023 to $0.79 billion in September 2024. The pharmaceuticals sector reported a 7.22 per cent increase, growing from $2.39 billion to $2.57 billion, while RMG exports rose by 17.30 per cent, from $0.95 billion to $1.11 billion.

Total imports for September, combining both merchandise and services, were estimated at $71.68 billion, a year-on-year growth of 3.79 per cent. The top five export destinations showing positive growth included the Netherlands (38.6 per cent), the UAE (23.75 per cent), the US (4.98 per cent), Brazil (41.98 per cent), and Japan (36.35 per cent).

Ashwani Kumar, President of the Federation of Indian Export Organisations (FIEO), commented on the data, stating that the increase in merchandise exports amidst geopolitical tensions and economic uncertainties signals a positive trend. He stressed that growth in sectors like engineering, chemicals, plastics, pharmaceuticals, and electronics bodes well for job creation in India.