India’s Exports Surge in October 2024
India’s exports surged by 27.7% in October 2024, reaching $39.2 billion, driven by robust performance in engineering goods (+39.4%), electronics (+45.7%), and agricultural products like rice (+85.8%). Labour-intensive sectors like garments (+35.1%) and handicrafts (+32.7%) also contributed significantly. Import trends showed declines in gold (-1.4%) and precious stones (-29%), while vegetable oil imports surged (+50.9%). India’s services trade surplus rose to $16.1 billion, reflecting sustained economic growth. With policies lifting rice export restrictions and diversified trade, the focus remains on strengthening infrastructure and addressing sector-specific challenges for sustained growth.
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