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Merchandise exports expand 6.21% in October
Hindustan Times
|November 16, 2023
India's merchandise exports expanded by 6.21% on an annualised basis in October to $33.57 billion, the second monthly positive growth in the current fiscal year amidst global headwinds and commerce secretary Sunil Barthwal suggested that the number indicates that India could end the financial year with a growth in exports.
India's merchandise exports first broke the monthly contraction sequence, which started from February, in August this year. It, however, saw a year-on-year contraction of 2.6% in September before expanding again by 6.21% in October, according to official data released on Wednesday.
Based on the internal assessment of exports in the first week of November, Barthwal said, there is a ubstantial positive trend" despite a fall in commodities prices. "Green shoots are stabilising," the commerce secretary added, referencing his own comment on October 13 that "green shoots" were visible.
This story is from the November 16, 2023 edition of Hindustan Times.
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