New Delhi: Merchandise exports from India may decline to $435 billion. A report published by Global Trade Research Initiative (GTRI) said this. Merchandise exports from India have been contracting since October last year.
Exports dipped 10.85 per cent in February to $36.91 billion due to volatility in petroleum prices and global uncertainties. During April-February 2024-25, the exports stood at $395.63 billion as against $395.38 billion in the corresponding period of 2023-24.
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‘At this rate, India’s total merchandise exports for FY’2025 are expected to be below USD 435 billion, slightly lower than USD 437.1 billion in FY’2024,’ Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said.
Key sectors that recorded negative growth both in February and cumulatively include petroleum products, gems and jewellery, ceramic products and glassware, oil seeds, oil meals, and iron ore.
In the petroleum products sector, exports fell 29.23 per cent in February 2025 and 25.56 per cent over 11 months, primarily due to a drop of 7.8 per cent in global crude oil prices from $83.5 per barrel in February 2024 to $77 per barrel in February 2025.
Engineering goods, India’s largest export segment, saw an 8.62 per cent decline in February 2025, though it recorded a 7.97 per cent increase over 11 months.
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