New Delhi, 14 August (Kiran News) : India’s economy received a boost in July as the country’s exports grew by 7.29% year-on-year, reaching $37.24 billion, despite global economic uncertainties. However, a rise in imports pushed the trade deficit to an eight-month high of $27.35 billion.
According to data released by the Ministry of Commerce and Industry on Thursday, merchandise exports rebounded in July after two consecutive months of decline. In July 2023, exports stood at $34.71 billion. Imports, on the other hand, rose by 8.6% to $64.59 billion, leading to a widening trade gap, the highest since November 2024.
For the first four months of the current financial year 2025-26 (April to July), exports increased by 3.07% to $149.2 billion, while imports rose by 5.36% to $244.01 billion. Consequently, the cumulative trade deficit for the four-month period stood at $94.81 billion.
Commenting on the figures, Commerce Secretary Sunil Barthwal stated that despite global uncertainties, India’s goods and services exports have shown strong performance. He emphasised that India has outperformed global export growth rates, crediting sectors such as engineering, electronics, gems and jewellery, pharmaceuticals, and chemicals for driving the export growth.
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