Blitz Bureau
NEW DELHI India’s exports to top- 10 countries grew at a faster pace of 16.5 per cent during the April-June quarter, compared to the nation’s overall merchandise exports growth of 5.8 per cent, commerce department data showed.
Except China, which saw 2.8 per cent contraction in exports, nine of the top-10 countries — United States (10.4 per cent), United Arab Emirates (17.6 per cent), Netherlands (41.3 per cent), United Kingdom (21.9 per cent), Singapore (26.55 per cent), Saudi Arabia (4.9 per cent), Bangladesh (10.5 per cent), Germany (3.4 per cent) and Malaysia (81.8 per cent) — witnessed positive growth.
These top-10 countries comprised 52 per cent of India’s total value of goods exported during the first quarter of this financial year. The United States (US) continued to remain India’s largest export market, followed by the United Arab Emirates (UAE) and Netherlands.
After witnessing a 3 per cent contraction in the financial year 2023-24, outbound shipments from India saw positive growth in the three consecutive months of the current financial year. However, the growth wasn’t even. The year started with a 2 per cent export growth in April, followed by a robust 13 per cent rise in May.
The growth, thereafter, slowed to 2.5 per cent during June, as exporters grappled with muted demand and logistics-related woes.
