Team Blitz India
NEW DELHI: India’s goods exports inched upwards in January 2024, posting a 3.12 per cent growth (year-on-year) to $36.92 billion, propped by sectors such as electronics, engineering goods and pharmaceuticals. This data was released by the Commerce Department on Feburary 15,
Imports increased 2.99 per cent to $54.41 billion in January 2024, with crude oil, electronics, coal and gold shipments contributing significantly to the rise. Trade deficit of $17.49 billion during the month was marginally higher than $17.03 billion in January 2023.
“Despite red sea crisis, recession in the Western economies and falling commodity prices, we have been able to achieve growth, which is significant and not marginal. Our congratulations to the exporters (for their resilience),” Commerce Secretary Sunil Barthwal said at a press briefing.
During April-January 2023-24, exports declined 4.89 per cent to $353.92 billion while imports were lower by 6.71 per cent at $561.12 billion. Trade deficit in April-January 2023-24 narrowed to $207.20 billion compared to $229.37 billion in April-January 2022-23.
