Services exports surpass merchandise exports in November
3 weeks, 3 days ago

Services exports surpass merchandise exports in November

Deccan Chronicle  

Chennai: Services export value was higher than merchandise exports in November, for the first time on a monthly basis. Merchandise exports were down 4.83 per cent to $32.11 billion in November while services exports grew 27 per cent to $35.67 billion. Though services exports grew 21 per cent in October 2024 at $34.02 billion, merchandise exports were higher at $39.2 billion. Between FY2019 and FY2024, India’s merchandise exports grew at a compound annual growth rate of 5.8 per cent, while services exports surged ahead at a robust CAGR of 10.5 per cent. Other Business Services, which include legal, accounting, tax consultancy, management consulting, and market research, generated $102.8 billion in FY2024, representing 33.2 per cent of total services exports.

Services Exports Billion Cent Merchandise Exports Services Exports Surpass Merchandise  grew  cent  software  obs  higher  billion  surpass  merchandise  services  rate  exports

History of this topic

How India’s services sector made history as goods exports floundered
4 days, 11 hours ago

How India’s services sector made history as goods exports floundered

Live Mint  

Preliminary data indicates that India’s services exports exceeded its goods exports for November 2024. At the global level, while India’s goods exports have been one of missed opportunities, services exports have an undertone of opportunity taken, driven by IT and software services. India’s share in global services exports has consistently exceeded its share in global goods exports since at least …

India’s Services Exports Hit Historic High In Oct, Find Out Why
1 week, 4 days ago

India’s Services Exports Hit Historic High In Oct, Find Out Why

ABP News  

India’s services exports reached a historic high of $34.31 billion in October, a commerce ministry official revealed. The official further noted that India has made a name for itself as a global leader in digitally delivered services exports, backed by its strong IT sector and skilled workforce, reported PTI. In the last two decades, India grew from $30 billion in …

Mint Primer: How India’s trade gap soared, and how it might hurt
2 weeks, 6 days ago

Mint Primer: How India’s trade gap soared, and how it might hurt

Live Mint  

India’s gold imports jumped fourfold to nearly $15 billion in November, powering a 27% surge in goods imports. Prominent drivers of the trade deficit were higher gold imports and falling realizations from petroleum exports. Gold imports touched $14.86 billion, a fourfold increase from $3.44 billion in November 2023, driven by higher volumes, likely fuelled by festive and wedding season demand. …

Services led exports are a mixed blessing for the Indian economy
3 weeks ago

Services led exports are a mixed blessing for the Indian economy

Live Mint  

If every cloud has a silver lining, the glow around India’s data that shows November’s trade deficit at a record high of $37.9 billion is the remarkable performance of service exports. In a scenario where US President-elect Donald Trump has threatened to slap “reciprocal" tariffs on India, this strong showing of service exports and declining reliance on the export of …

Trade shocker: On November’s trade estimates
Trending News
3 weeks, 1 day ago

Trade shocker: On November’s trade estimates

The Hindu  

This October’s foreign trade numbers had offered a sliver of hope for India’s generally weak export story over the past couple of years, as goods exports grew at a 28-month high pace of 17.2%. As in August, November’s import bill spike was led by gold imports that jumped 331.5% from last November to a whopping $14.9 billion. Gems and jewellery …

DC Edit | Time to focus on service sector
3 weeks, 1 day ago

DC Edit | Time to focus on service sector

Deccan Chronicle  

India’s service exports outstripped merchandise exports for the first time ever in November 2024, according to the commerce ministry’s trade data. After sustained growth beginning from February 2024, service exports stood at $37.6 billion and merchandise exports at $32.1 billion in November 2024. While India is known to export more services than it buys from other countries, the value of …

India’s imports rises to 27%, touches to record high of almost $70 billion
3 weeks, 3 days ago

India’s imports rises to 27%, touches to record high of almost $70 billion

The Hindu  

India’s merchandise exports fell 4.83% to $32.11 billion in November while the import bill jumped 27% to a record high of almost $70 billion, as per data released by the Commerce Ministry. This is the third time in four months that India’s import bill has hit a record high, but November’s tally surpasses the last two occasions by a wide …

Merchandise trade deficit and services trade surplus to touch record high in Q3
1 month ago

Merchandise trade deficit and services trade surplus to touch record high in Q3

Deccan Chronicle  

Chennai: In the December quarter, Indian trade will see both merchandise trade deficit and services trade surplus touching record high levels. The goods trade deficit is likely to touch a record high of $80 billion while services trade surplus too could register a fresh high of around $49 billion in Q3 FY25. The global trade in commercial services grew at …

India: Services Exports to Surpass Merchandise Shipments by 2030
1 month, 2 weeks ago

India: Services Exports to Surpass Merchandise Shipments by 2030

Deccan Chronicle  

Chennai: With a growth rate double that of merchandise exports, services export is set to surpass the former in five years. Between FY2019 and FY2024, India’s merchandise exports grew at a compound annual growth rate of 5.8 per cent, while services exports surged ahead at a robust CAGR of 10.5 per cent. According to GTRI, at this rate, services exports …

Pharma, electronics and engineering goods among India’s top exports during Apr-Oct
1 month, 3 weeks ago

Pharma, electronics and engineering goods among India’s top exports during Apr-Oct

Live Mint  

New Delhi: India's merchandise exports continued their upward trajectory during April-October, with 21 of the top 30 sectors registering growth in value terms, buoyed by rising global demand for Indian goods. Growth in key sectors like pharmaceuticals, electronics, and engineering goods contributed to the overall gains, while a sharp decline was reported in traditionally strong sectors—petroleum and gems and jewellery—amid …

Merchandise exports surge amid focus on key markets, countries
Trending News
1 month, 3 weeks ago

Merchandise exports surge amid focus on key markets, countries

Hindustan Times  

India’s merchandise exports registered 17.25% growth to $39.20 billion in October over the same month last year, with non-petroleum exports aggregating a record $211.34 billion in the first seven months of current financial year despite global headwinds, commerce secretary Sunil Barthwal said, crediting a concerted policy push and Christmas demand for the growth. India’s services exports in October 2024 is …

Merchandise exports in Oct up 17 pc
1 month, 3 weeks ago

Merchandise exports in Oct up 17 pc

Deccan Chronicle  

Chennai: Buoyed by festive demand in the key markets, merchandise exports in October rose 17.26 per cent year-on-year to $39.2 billion, while it grew 13.3 per cent sequentially. While imports rose 3.88 per cent year-on-year, the sequential growth of 20 per cent saw the trade deficit widening to $27.14 billion. Imports grew 3.88 per cent year-on-year to $66.34 billion against …

India’s goods trade deficit widens to $27 billion in October
Trending News
1 month, 3 weeks ago

India’s goods trade deficit widens to $27 billion in October

Live Mint  

New Delhi: India’s merchandise trade deficit widened to a two-month high in October, driven by a rise in imports, data released by the commerce ministry on Thursday showed. The goods trade deficit—the difference between exports and imports—stood at $27.14 billion in October, up from $20.78 billion in September. The overall trade deficit, including both services and merchandise, fell to $10.12 …

India will meet its exports target of USD 800 billion this year: Commerce Secretary
1 month, 3 weeks ago

India will meet its exports target of USD 800 billion this year: Commerce Secretary

Op India  

India’s exports surged by over 19 per cent in October. Commerce Secretary Sunil Barthwal was upbeat on the trade data and said, “It has been an extremely good month for us, and not only our overall export progress has been extremely good, but if you look at April to October, this has been the highest ever non-petroleum exports from this …

Dec quarter exports to record growth yearly and sequentially: Exim Bank
1 month, 4 weeks ago

Dec quarter exports to record growth yearly and sequentially: Exim Bank

Deccan Chronicle  

Chennai: Exim Bank has projected that merchandise exports in the ongoing December quarter will touch $107.5 billion, registering a yearly growth of 1.85 per cent and sequential gain of 5 per cent. While geo-political tensions are shrouding the prospects of trade across the globe, Exim Bank is hopeful that the country will see positive growth in merchandise exports in the …

Merchandise exports set for modest rebound, to hit $107.5 billion in Q3: India Exim Bank
1 month, 4 weeks ago

Merchandise exports set for modest rebound, to hit $107.5 billion in Q3: India Exim Bank

Live Mint  

India's merchandise exports are likely to rise 1.85% year-on-year to $107.5 billion in the third quarter of FY25, according to India Exim Bank. Exim Bank has projected non-oil exports at $91.7 billion, marking a year-on-year growth of 7.39%. Read this | RITES sets sights on Africa for export of refurbished and underutilized railway diesel locos This anticipated growth signals a …

The IMF's WEO and the Rise of China: A Cautionary Tale for India
2 months, 2 weeks ago

The IMF's WEO and the Rise of China: A Cautionary Tale for India

Hindustan Times  

The IMF's World Economic Outlook report sheds light on the competitive edge China holds in the electric vehicle (EV) industry. The report highlights the sharp rise in labor productivity in China, which has enabled them to produce EVs at lower costs compared to their European counterparts. This competitiveness could lead to a global disruption in the EV market, which is …

Indian Apparel Exports Soar 17.3% in September, Boosting Global Supply Chain
2 months, 3 weeks ago

Indian Apparel Exports Soar 17.3% in September, Boosting Global Supply Chain

The Hindu  

Indian apparel exports saw a significant surge in September, with a 17.3% increase compared to the same period last year. This growth is expected to continue in the coming months, with 15%-20% higher exports projected for 2024-2025. This surge is attributed to the increasing popularity of Indian products and the growing focus on sourcing from India by international buyers.

Is the spike in India’s trade deficit a worry?
3 months, 2 weeks ago

Is the spike in India’s trade deficit a worry?

The Hindu  

The story so far: After a positive start to goods exports in the first quarter of 2024-25, there has been a blip in momentum. On the exports front, 18 of India’s top 30 segments recorded growth in July and 19 in August, but the big-ticket sectors like petroleum, and gems and jewellery, have tanked significantly. While gems and jewellery exports …

Apparel exports grew 12% in August to more than $1.2 bn
3 months, 3 weeks ago

Apparel exports grew 12% in August to more than $1.2 bn

The Hindu  

Apparel exports registered 11.9% growth in August to $1,268.2 million compared with $1,133.5 million last August. In rupee terms, exports were 13.4% higher last month compared with last August and 8.7% more in April-August FY25 compared with the corresponding period in FY24. Mithileshwar Thakur, Secretary General, Apparel Export Promotion Council, said in a press statement that exports to Japan, Korea, …

India's Exports to Bangladesh, Russia Decline Sharply
4 months, 2 weeks ago

India's Exports to Bangladesh, Russia Decline Sharply

Deccan Chronicle  

Chennai: Conflict-ridden markets like Bangladesh and Russia reported a slumping engineering goods offtake in July, despite the industry clocking a positive growth in shipments. Engineering exports to Bangladesh fell 11.8 per cent year-on-year to $153.78 million in July 2024, against $174.35 million in July 2023. The value of engineering exports to Russia declined 26.8 per cent in July this year …

India’s Trade Deficit Widens to $23.5B in July
4 months, 3 weeks ago

India’s Trade Deficit Widens to $23.5B in July

Deccan Chronicle  

Chennai: India's trade deficit widened to $23.50 billion in July as exports dipped 1.4 per cent and imports grew 7.5 per cent. However, combined exports of merchandise and services registered a growth of 2.8 per cent and the ministry expects this year’s combined exports to be higher than last year’s. Merchandise exports in July this year dipped by 1.4 per …

September quarter to see 4.2 pc growth in exports: Exim Bank
4 months, 4 weeks ago

September quarter to see 4.2 pc growth in exports: Exim Bank

Deccan Chronicle  

Chennai: Merchandise exports from India in the ongoing September quarter are projected to grow by 4.2 per cent to $111.7 billion, according to the Exim Bank. While the merchandise export for the second quarter of the fiscal is projected to grow by 4.2 per cent, the growth will be slower than the first quarter which saw merchandise exports growing by …

Strong trade ties boosting India’s export market share: Economic Survey
5 months, 2 weeks ago

Strong trade ties boosting India’s export market share: Economic Survey

Hindustan Times  

India is gaining market share in global exports of merchandise and services, benefiting from its strong trade relations across countries, which raised its share in global goods exports to 1.8% and services to 4.3% in FY24 as compared to an average of 1.7% and 3.3% respectively during FY16-FY20, the economic survey said on Monday. The government took various measures to …

India's exports in Q1 show resilience despite global slowdown: CRISIL
5 months, 3 weeks ago

India's exports in Q1 show resilience despite global slowdown: CRISIL

New Indian Express  

India's exports have shown resilience amidst global challenges, with merchandise exports rising by 5.8% to $109.96 billion in the first quarter of fiscal 2025, according to CRISIL. "On a cumulative basis, merchandise exports rose 5.8% to $109.96 billion for the first quarter of fiscal 2025, from $103.9 billion in the year-ago period. This growth in exports in the first quarter …

Merchandise exports up 2.55 pc in June
5 months, 3 weeks ago

Merchandise exports up 2.55 pc in June

Deccan Chronicle  

Chennai: Merchandise exports registered a positive growth of 2.55 per cent at $35.20 billion in June against the same month last year. Merchandise exports at $35.20 billion in June was 2.55 per cent higher than $34.32 billion garnered in June 2023. In the June quarter, merchandise exports were valued at $109.96 billion against $103.89 billion in the year ago period- …

India's exports soar 2.56 per cent to USD 35.2 billion in June: Govt data
5 months, 3 weeks ago

India's exports soar 2.56 per cent to USD 35.2 billion in June: Govt data

India TV News  

The government of India on Monday released data on the exports by the nation in the month of June. According to the data, India's merchandise export in June increased by 2.56 per cent to $35.32 billion compared to $34.32 billion in June last year. In May, the country's merchandise exports increased by 9.1 per cent and reached USD 38.13 billion, …

Exports Rise 9 PC in May
6 months, 3 weeks ago

Exports Rise 9 PC in May

Deccan Chronicle  

Chennai: With the global demand showing positive signals, merchandise exports rose by over 9 per cent in May. "While exports growth rose to a robust 9.1 per cent and outpaced imports growth of 7.7 per cent, the merchandise trade deficit widened to a seven-month high, driven by a jump in the net oil imports,” said Aditi Nayar, Chief Economist, ICRA. …

April 2024 trade gap hits $19 billion as imports outpace exports
7 months, 3 weeks ago

April 2024 trade gap hits $19 billion as imports outpace exports

The Hindu  

India’s merchandise exports began 2024-25 on a mildly positive note, rising 1.07% to $35 billion in April. Almost all of the sharp 32.3% year-on-year surge in April’s goods trade deficit, compared to a $14.4 billion gap in April 2023, was fuelled by gold imports that tripled to $3.11 billion from $1.01 billion, and a 20.2% rise in the oil import …

Don’t take India’s strong services exports story for granted: Goldman Sachs
8 months, 1 week ago

Don’t take India’s strong services exports story for granted: Goldman Sachs

The Hindu  

April 29, 2024 09:57 pm | Updated 10:08 pm IST - NEW DELHI While India’s services exports had grown sixfold between 2005 and 2023 to about $340 billion and were potentially poised to hit the $800-billion mark in 2030, Goldman Sachs cautioned against complacency citing challenges such as the lack of skilled talent and resource stress in key hubs like …

India’s services export grew faster than global average in 2023: UNCTAD data
8 months, 2 weeks ago

India’s services export grew faster than global average in 2023: UNCTAD data

Hindustan Times  

NEW DELHI: India’s annual services export grew at 11.4% in 2023 against the global average of 8.9% and surpassed China which witnessed a 10.1% contraction in the year, according to the quarterly bulletin released by the United Nations Conference on Trade and Development. Robust services trade helped India to compensate for a 3.11% year-on-year contraction in merchandise exports in FY2024 …

Goods exports hit 12-month high of $41.68 billion in March
8 months, 3 weeks ago

Goods exports hit 12-month high of $41.68 billion in March

The Hindu  

India’s goods exports hit a 12-month high of $41.68 billion in March, although it constituted a 0.67% decline from last year’s tally, while imports dropped 6% to $57.3 billion last month. Goods imports dropped by a sharper 5.41% to $677.24 billion in 2023-24, which helped moderate India’s trade deficit for the year to $240.2 billion, 9.33% lower than the preceding …

India’s defence exports crossed all-time high of ₹21,000 crore: Rajnath
9 months, 1 week ago

India’s defence exports crossed all-time high of ₹21,000 crore: Rajnath

The Hindu  

India’s defence exports crossed ₹21,000 crore, approximately $2.63 billion, for the first time, Defence Minister Rajnath Singh announced on April 1. “Delighted to inform everyone that the Indian defence exports have scaled to unprecedented heights and crossed ₹21000 crore mark for the first time in the history of Independent India!,” Mr. Singh said on X. “India’s defence exports have reached …

India’s defence exports cross ₹21,000 crore mark
9 months, 1 week ago

India’s defence exports cross ₹21,000 crore mark

Hindustan Times  

New Delhi: India’s defence exports grew 32.5% this fiscal and crossed the ₹21,000-crore mark for the first time as the country remains focussed on boosting the indigenous defence manufacturing ecosystem as well as military exports, the defence ministry said on Monday. “Delighted to inform everyone that the Indian Defence Exports have scaled to unprecedented heights and crossed ₹21,000 crore mark …

Trade deficit widens to USD 18.71 billion in Feb as both imports, exports rise
9 months, 3 weeks ago

Trade deficit widens to USD 18.71 billion in Feb as both imports, exports rise

New Indian Express  

NEW DELHI: India’s trade deficit increased to $18.71 billion in February from $17.49 billion in January, with imports exceeding exports, amid red sea crisis, as per recent official data. Goods imports surged to $60.11 billion in February from $54.41 billion in January, while exports increased to $41.40 billion from $36.92 billion. Goods exports grew by 11.86% compared to $37.01 billion …

India’s monthly merchandise exports rise to $41.40 billion in February
9 months, 3 weeks ago

India’s monthly merchandise exports rise to $41.40 billion in February

Hindustan Times  

NEW DELHI: India reported a robust 12% annualised growth in merchandise exports at $41.4 billion in the month of February despite global headwinds, narrowing contraction in the first 11 months of 2023-24 by 3.6% to $395 billion, a senior official said. In 2022-23, India’s merchandise exports crossed $451 billion while overall exports achieved a record $770 billion. Releasing the monthly …

Merchandise exports 11-month high in Feb
9 months, 3 weeks ago

Merchandise exports 11-month high in Feb

Deccan Chronicle  

Chennai: At $41.4 billion, merchandise exports in February recorded both yearly as well as sequential growth. Merchandise exports in February rose 11.9 per cent to $41.4 billion in February, the highest in the current fiscal. Merchandise imports grew 12.16 per cent to $60.1 billion in February against the same month of 2023. Services exports grew 17 per cent to $32.15 …

Key markets remain positive for engineering exports
10 months, 2 weeks ago

Key markets remain positive for engineering exports

Deccan Chronicle  

Chennai: Despite the Red Sea crisis, top markets, including the US, China, UAE and Russia remained positive for engineering exports in January. Engineering goods exports to as many as 13 out of the 25 top markets that contribute to 76 per cent of the total shipments recorded positive year-on-year growth in January 2024. Engineering shipments to the US rose 6 …

Manufacturing versus services: A false binary
10 months, 2 weeks ago

Manufacturing versus services: A false binary

Hindustan Times  

The debate around India’s policy focus — whether it should be on manufacturing or services — is once again heating up. India’s share of global services exports is currently ~4.4%, and the country is already the largest provider of telecom and information services. The other pillar of the country’s export strategy — services exports — is where India already has …

Red Sea blues: The Hindu Editorial On India’s goods exports
10 months, 2 weeks ago

Red Sea blues: The Hindu Editorial On India’s goods exports

The Hindu  

February 20, 2024 12:15 am | Updated 02:11 pm IST For the second successive month, India’s goods exports grew last month, albeit with a mild 3.1% uptick from a 1% rise in December. To be clear, such sequential, post-Christmas demand dip is not unusual and all of the decline cannot be ascribed to the elephant haunting global trade corridors — …

India’s merchandise exports up 3.12% in January
10 months, 3 weeks ago

India’s merchandise exports up 3.12% in January

Hindustan Times  

India’s merchandise exports reported a 3.12% increase to $36.92 billion in January despite global headwinds, showing positive growth for the second consecutive month, with overall exports -- both goods and services -- estimated to have risen 9.27% to $69.72 billion in the month, government data released on Thursday said. Releasing trade data for January, commerce secretary Sunil Barthwal said, “Despite …

Merchandise Exports Grow 3% in Jan
10 months, 3 weeks ago

Merchandise Exports Grow 3% in Jan

Deccan Chronicle  

Chennai: Despite the Red Sea crisis, India managed to grow both merchandise exports and imports by 3 per cent in January. Merchandise imports were also up 3 per cent year-on-year last month at $54.41 billion, although they were down from $58.25 billion in December 2023. The merchandise trade deficit during the April-Jan period also narrowed by 9.26 per cent compared …

Jan. goods trade deficit narrows sequentially to nine-month low of $17.5 billion
10 months, 3 weeks ago

Jan. goods trade deficit narrows sequentially to nine-month low of $17.5 billion

The Hindu  

India’s merchandise trade deficit, which had hit a record high of $29.9 billion in October, narrowed sequentially for the third straight month and touched a nine-month low of $17.5 billion in January, provisional estimates released by the Commerce Ministry on Thursday showed. Services exports, whose actual numbers will be released later, are estimated to have expanded 17.5% last month to …

A cloudy horizon: The Hindu Editorial on trade data
1 year ago

A cloudy horizon: The Hindu Editorial on trade data

The Hindu  

From a rare upward swing this October, India’s goods exports retreated into contraction last month, dipping 2.8% from 2022 levels to touch $33.9 billion. Imports dropped 4.33% to $54.5 billion, cooling the merchandise trade deficit to $20.6 billion, almost a third below October’s record high. August’s goods trade deficit was moderated by nearly three billion dollars, with the overall export-import …

Exports dipped again in November, but trade deficit eases 31% from record high
1 year ago

Exports dipped again in November, but trade deficit eases 31% from record high

The Hindu  

India’s goods exports slipped back into contraction to drop 2.83% in November to $33.9 billion, while imports fell by a sharper 4.33% to $54.48 billion. The trade deficit for November eased sharply beyond expectations to $20.58 billion from the all-time high of $29.91 billion recorded in October. Exports have been positive in November and higher than the overall exports of …

Deceptive signals: The Hindu Editorial on India’s October 2023 goods exports numbers
1 year, 1 month ago

Deceptive signals: The Hindu Editorial on India’s October 2023 goods exports numbers

The Hindu  

Last month, India’s goods exports recorded only their second uptick this financial year, with a 6.2% rise. Merchandise imports grew a sharper 12.3% over last October and nearly 21% over September’s tally to hit an all-time high of $65.03 billion. The Finance Ministry’s monthly economic review asserted that merchandise exports “surprised on the upside” with the highest growth in 11 …

India sees 6.2% rise in goods exports in October
1 year, 1 month ago

India sees 6.2% rise in goods exports in October

The Hindu  

India’s goods exports grew only for the second time in 2023-24 in October, albeit on a low base, rising 6.2% to $33.6 billion, but imports jumped to a record high of $65.03 billion, 12.3% over last year, fuelled by higher gold inflows. Consequently, India’s monthly goods trade deficit widened to an all-time high of $31.46 billion, eclipsing the previous record …

Trade deficit eases as imports plunge
1 year, 2 months ago

Trade deficit eases as imports plunge

Live Mint  

India’s trade deficit narrowed in September as imports plunged and exports continued to slide amid slowing demand in the West and China. Goods exports slipped marginally by 2.59% to $34.47 billion compared to $35.39 billion in September 2022, while imports fell a steeper 15% to $53.84 billion against $63.37 billion a year earlier. “India’s merchandise trade deficit compressed considerably to …

Goods exports dipped, but August tally lifts outlook
1 year, 2 months ago

Goods exports dipped, but August tally lifts outlook

The Hindu  

Even though goods exports declined for the seventh time in eight months in September, India’s weak foreign trade performance so far this year appeared to be turning around as per data released by the Commerce Ministry on Friday, which included revisions worth over $5 billion to August’s trade tally. While goods exports dipped 2.6% from last September to hit a …

Discover Related