New Delhi: India’s merchandise exports recorded a notable recovery in November after a steep fall in October, according to Commerce and Industry Minister Piyush Goyal. While he did not share specific figures, he stated that the month’s performance surpassed the earlier decline, indicating net growth across the two-month period. Official trade data for November will be released on December 15.
Goyal highlighted that despite global uncertainty, the country’s export sector remains resilient. He noted that the dip in October was followed by an even stronger rise in November, contributing to an overall positive trend. India continues to strengthen its integration with international markets, and he indicated that several significant developments with key trading partners will be announced in the coming weeks.
The minister also pointed to ongoing negotiations on multiple free trade agreements with regions and countries such as the United States, European Union, New Zealand, Oman, Chile and Peru, as part of efforts to expand market access and boost trade flows.
Addressing concerns about the rupee’s performance after it touched a record low of 90.15 against the US dollar on Wednesday, Goyal said the broader economic fundamentals remain solid. He referred to India’s second-quarter growth rate of 8.2 per cent, low inflation in recent months, robust foreign exchange reserves, steady capital inflows and strong consumer demand as indicators of economic stability.
India’s export landscape has been under pressure due to global tariff challenges, particularly from the United States. In October, exports contracted by 11.8 per cent to 34.38 billion dollars, while the trade deficit widened to an unprecedented 41.68 billion dollars, driven largely by increased gold imports.
For the April to October period of the current financial year, exports rose modestly by 0.63 per cent to 254.25 billion dollars. Imports during the same period grew by 6.37 per cent, reaching 451.08 billion dollars. Despite these headwinds, the government maintains that momentum is building for stronger trade performance in the months ahead.
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