Electronics, petro goods, mobile phones drive H1 exports growth

Mobile phones, tobacco, processed food products, electronics, gold jewellery and leather goods have driven India’s merchandise exports in the first six months of the fiscal at a time when global trade volume growth is slowing.

India’s outbound shipments of telecom instruments rose 88.24% on-year in April-September FY23 at $5.03 billion while those of gold and other precious metallic jewellery grew 22.24% at $6.5 billion, buoyed by the consumer sentiment across the US, Middle East and Hong Kong. Thailand, Switzerland and Singapore have emerged as new growth markets for the country’s gem and jewellery exports. Petroleum products exports grew a whopping 84.02% to $52.6 billion. Processed fruits and vegetables exports increased 42.42% during the period and those of electronic instruments were up 24% to almost $2 billion.