India’s trading partners in exports from April till October were the United States of America, United Arab Emirates, The Netherlands, the United Kingdom, and Singapore, all reporting significant growth, as per provisional government data.
Exports to the US in the period from April to October 2024 rose to Rs 3.95 lakh crore, up 7.73 per cent from the same period a year ago, as per the provisional data published by the Department of Commerce under the Government of India.
The report, accessed as part of Foreign Trade Performance Analysis (FTPA), found that the other four nations posted at least a 17 per cent hike in exports from the country. The Netherlands recorded the highest growth, almost 35 per cent year-on-year, for total exports of Rs 1.27 lakh crore for the seven-month period ending October.
After the US, the next highest export partner was the United Arab Emirates, with Rs 1.75 lakh crore in exports on a growth of 17.4 per cent. Exports to the UK rose 17.2 per cent to Rs 72,321 crore, while to Singapore spiked 22.1 per cent to Rs 70,726 crore.
On a provisional basis, total exports from the top five countries together grew 4.53 per cent to Rs 21.09 lakh crore from April to October 2024.
The US and UAE find a place in the top 5 nations of import: India commerce data
In contrast, China led the top countries of import. Imports from China rose 11.26 per cent to Rs 5.51 lakh crore, closely followed by the other BRICS partner, Russia, which saw imports rise 10.42 per cent to Rs 3.25 lakh crore.
Export partners UAE and the US filled the next two spots in imports, with UAE imports growing by a whopping 57 per cent to Rs 3.23 lakh crore. The US, on the other, saw a meagre 3.83 per cent rise in imports at Rs 2.18 lakh crore.
Conflict-prone Iraq took the fifth spot in imports, with a 6.29 per cent rise, taking its imports to Rs 1.42 lakh crore.
Provisionally, the imports from the top five nations together grew 7.13 per cent to Rs 34.87 lakh crore from April to October 2024.
