India’s total exports during the April-August period are estimated at $328.86 billion, registering a positive growth of 5.35 per cent, data by the Ministry of Commerce and Industry showed on Tuesday.
Total imports during the first five months of the current fiscal are estimated at $375.33 billion, registering a growth of 7.20 per cent.
Merchandise exports during the April-August 2024 period were $178.68 billion as compared to $176.67 billion during the same period last year, registering a positive growth of 1.14 per cent.
Merchandise trade deficit during the April-August period was $116.64 billion compared to $99.16 billion during the same period last year.
In the month of August, India’s total exports (merchandise and services) reached $65.40 billion, the data showed. Merchandise exports during August were $34.71 billion as compared to $38.28 billion in August last year.
Non-petroleum and non-gems and jewellery exports in April-August 2024 were $135.75 billion, compared to $128.95 billion in April-August 2023. Non-petroleum, non-gems and jewellery (gold, silver and precious metals) imports in April-August 2024 were $186.25 billion, compared to $177.13 billion in April-August 2023.
Major drivers of merchandise export growth in August included engineering goods, organic and inorganic chemicals, electronic goods, RMG of all textiles, and drugs and pharmaceuticals. Engineering goods exports increased by 4.36 per cent from $9.05 billion in August 2023 to $9.44 billion in August 2024. Organic and inorganic chemicals exports increased by 8.32 per cent from $2.19 billion in August 2023 to $2.37 billion in August this year. Electronic goods exports increased by 7.85 per cent from $2.16 billion in August 2023 to $2.33 billion in August 2024. Drugs and pharmaceuticals exports increased by 4.67 per cent from $2.24 billion in August 2023 to $2.35 billion in August 2024, the data showed.
The estimated value of services exports for August is $30.69 billion as compared to $28.71 billion in August 2023.
Elon Musk, Sam Altman fight over Stargate on social media
The xAI owner Elon Musk and OpenAI CEO Sam Altman are fighting on X about Stargate, the enormous infrastructure project to build data centres for OpenAI across the US.
Sensex jumps 566 points, Nifty holds at 23,000 as US tariff fears ease
The Indian stock market witnessed a roller-coaster ride on Wednesday, as benchmark indices Sensex and Nifty bounced back strongly in the latter half of the day after uncertainties over impending US trade tariff eased.
Trump 2.0 jitters: Sensex tanks over 1,200 points, Nifty ends at 23,024
As the new US President Donald Trump began his second innings with signing several executive orders along with sounding threats about impending trade tariffs on certain countries and BRICS nations, both Sensex and Nifty plunged on Tuesday.
Adani Energy Solutions wins its largest-ever Rs 25,000 cr Bhadla-Fatehpur HVDC project
Adani Energy Solutions Ltd (AESL) on Tuesday said it has won a Rs 25,000 crore Bhadla (Rajasthan)-Fatehpur (Uttar Pradesh) high voltage direct current (HVDC) order, its largest-ever order win to date.
Sensex opens higher as traders gear up for Trump’s inauguration
Indian benchmark indices opened higher on Monday, taking positive cues from its Asian peers, as traders geared up for Donald Trump's inauguration as the 47th US President.