India’s Export Growth: Core Sector Exports Surge by 27.7% in October in Engineering, Electronics, Chemicals, Textiles, Marine and Agriculture Says CRISIL

New Delhi, November 18: India's core group exports surged 27.7 per cent in October with growth being particularly strong in categories such as engineering goods, electronic goods, chemicals, textiles, marine products and rice, according to a CRISIL report released on Monday. Growth improved for key core sectors such as engineering goods (39.

4 per cent vs 10.6 per cent), drugs and pharmaceuticals (8.2 per cent vs 7.



2 per cent), organic and inorganic chemicals (27.4 per cent vs 11.2 per cent) and electronic goods (45.

7 per cent vs 7.9 per cent), the report highlights. iPhone Export From India Hit Record INR 60,000 Crore During First 7 Months During FY25.

Performance is healthy for agricultural exports as well. Rice exports surged 85.8 per cent on-year in October, following the 24.

9 per cent rise in the previous month, owing to the government removing curbs on overseas shipments of basmati and non-basmati rice. Cashews (7.2 per cent vs 2.

2 per cent), fruits and vegetables (15.9 per cent vs 8.4 per cent), tea (9.

3 per cent vs 5.7 per cent), and spices (30.9 per cent vs 26.

7 per cent) also saw higher positive growth, the report highlights. Within the labour-intensive sectors, exports continued to do well, except for ceramic products and glassware ((-)6.1 per cent on-year in October vs (-)10.

9 per cent in September). On the other hand, exports of gems and jewellery (8.8 per cent vs (-)11.

5 per cent), readymade garment textiles (35.1 per cent vs 17.3 per cent), carpets (16.

8 per cent vs 14.9 per cent), cotton yarn, fabrics, handloom products (7 per cent vs 3.5 per cent), handicrafts (32.

7 per cent vs 48.1 per cent), leather and leather products (12.3 per cent vs 8.

9 per cent) saw healthy positive growth, according to the report. Within the import sectors, gold ((-)1.4 per cent vs 6.

9 per cent) and pearl and precious and semi-precious stones ((-)29. per cent vs (-)21.6 per cent) imports fell.

Imports of electrical and non-electrical remained positive but slowed to 8.7 per cent on-year from 17.4 per cent.

Another category that saw strong import growth was vegetable oils, which grew 50.9 per cent on-year, compared with (-)23.2 per cent on-year's previous month, the report added.

Meesho Blocks 77 Lakh Scams Attempts, 13 Lakh Bot Orders and Successfully Acts Against 2.2 Crore Suspicious Transactions. India’s overall merchandise exports staged a strong comeback growing 17.

3 per cent on-year in October, the fastest in 28 months to touch $ 39.2 billion. The country’s services exports grew 14.

6 per cent on-year in September, up from 5.7 per cent in August. Services imports grew at 13.

2 per cent on-year versus 8.8 per cent. Hence, the services trade surplus rose to $16.

1 billion in September compared with $13.8 billion in September 2023 and $13.9 billion in August 2024.

This is the highest surplus post-January 2024, when it was $16.2 billion, the report added. (The above story first appeared on LatestLY on Nov 18, 2024 03:13 PM IST.

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