Electronics, pharma top exports, beating slowdown

India's electronic goods exports were driven by higher smartphone sales globally

- Rhik Kundu

• 8% Rise in export of drugs and pharma in 7 months to Oct
• 21% Fall in gems and jewellery exports annually in Apr-Oct

Electronic goods, and drugs and pharmaceuticals have emerged as standout performers for the country’s export basket amid a slowdown in global trade.

During April–October 2023, electronic goods exports rose 28% annually to $15.48 billion, according to data from the government’s Niryat (National Import-Export Record for Yearly Analysis of Trade) portal.

Similarly, exports of drugs and pharmaceuticals during the seven months ending October 2023 rose by 8% to $15.77 billion.

In comparison, other prominent export segments, such as gems and jewellery, petroleum products, engineering goods, and agriculture, saw either a sharp decline or flat growth.