Business & Economy

Indian Exports to China, Russia, UAE and Singapore Surge in 2023-24

© RIZWAN TABASSUMRussian cargo ship
Russian cargo ship - Sputnik India, 1920, 19.04.2024
According to the latest data from India's Ministry of Commerce, total exports, goods and services combined are estimated at $776.68 billion for the fiscal year just ended.
India's total exports to China, Russia, Iraq, the UAE and Singapore have risen sharply in fiscal 2023-24, albeit from a low base.
Other countries in the top 10 include the UK, Australia, Saudi Arabia, the Netherlands and South Africa.
According to the latest data from India's Ministry of Commerce, total exports of goods and services are estimated to be $776.68 billion in FY 2023-24.
However, it also shows that merchandise exports fell by 3.1 per cent to $437.06 billion, while services exports rose by 4.4 per cent to $339.62 billion.
In the month of March, merchandise exports declined by 0.7 per cent to $41.68 billion and services exports declined by 6.3 per cent to $28.54 billion.
In the fiscal year 2022-23, India's total exports were reported to be $775.87 billion, registering a growth of over 14 per cent and almost $100 billion on an annual basis.
Meanwhile, India's total imports fell by 4.8 per cent to $854.80 billion in FY2023-24.
A farmer inspects his sunflower crop at Baba Sheikh Fateh village, near Amritsar, India, Tuesday, May 13, 2008. Sunflower is one of the important oil seed crops in India. - Sputnik India, 1920, 04.04.2024
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