look news india
New Delhi: Despite geopolitical challenges and stagnant global demand, India's exports to top 10 export hubs including Netherlands, US and UK grew in the first half of the current financial year, up 9.4 per cent, commerce department export data showed. and 2.3 percent respectively. During this period, India's total exports increased marginally by 1 percent to $213.2 billion.
Separate export data for September is not available, but trends over the past few months suggest exports to China, India's second-largest trading partner, have slowed. The countries where exports have increased include America (5.6 percent), UAE (11.4 percent), Netherlands (36.7 percent), Britain (12.4 percent), Singapore (2 percent), Saudi Arabia (3.6 percent). Bangladesh (1.5 percent).
America is becoming India's biggest export center. This is followed by United Arab Emirates and Netherlands. There was an increase of 2 percent in the beginning of April of the financial year 2024-25. After this, there was a strong increase of 13 percent in exports in May. Growth slowed to 2.5 percent during June, followed by declines of 1.7 percent and 9.3 percent in July and August, respectively. This was due to sluggish demand and transportation concerns. Exports have increased by 0.5 percent in September.
Among India's top 10 import partners, imports from the United Arab Emirates (UAE) grew the fastest in the first half of the current fiscal year, commerce department data shows.
According to the Commerce Department, imports from the UAE increased 52 percent year-on-year to $31.45 billion, while India's imports from all countries increased 6 percent to $350 billion. The situation in the last few months shows that there has been an increase in imports from West Asian countries, mainly due to increase in imports of petroleum and precious metals like gold, silver, platinum.