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Indian exporters started the fiscal on a buoyant note with outbound shipments in April 2025 rising 9.03 per cent (year on year) to $38.49 billion, led by engineering goods, petroleum products and electronics. But trade deficit increased to a five-month high of $26.42 billion as import surge was sharper.
Imports increased 19.12 per cent (year on year) to $64.91 billion in April due to a rise in shipments of crude oil and electronics, per data shared by the Commerce Department on Thursday.
“We opened the year with a bang… Last year, there were so many problems. Trade route was a big problem with ships forced to avoid the Red Sea and take the longer route of Cape of Good Hope. There were supply issues. Cost of transport and insurance increased. But Indian exporters have shown that they have achieved resiliency in their business,” Commerce Secretary Sunil Barthwal said at a press briefing on trade data.
He expressed hope that the growth momentum would continue through the fiscal.
Exporters’ body FIEO noted that sustaining the growth momentum would require continued support through stable policy, enhanced trade facilitation, improved logistics and timely conclusion of free trade agreements, especially with the UK, US, EU, Oman and GCC countries.
“Access to affordable credit, particularly for MSMEs, along with timely disbursal of incentives like interest equalisation, RoDTEP and other export benefits will be vital to maintaining export competitiveness and achieving ambitious growth targets,” FIEO Chief SC Ralhan said.
Top 10 exports
Nine of India’s top 10 exports posted an increase in April 2025. These included engineering goods, petroleum products, electronics, gems & jewellery, drugs & pharma, ready-made garments, rice cotton yarn and made-ups and plastic. Only organic and inorganic chemicals, amongst the top 10, registered a marginal decline.
Crude oil imports in April rose 25.6 per cent to $20.7 billion, while gold imports were up 4.86 per cent to $3.09 billion. Other items which recorded considerable increase in imports include electronics, machinery and chemicals.
In FY25, India’s goods exports posted a marginal growth of 0.08 per cent to $437.42 billion compared with $437.07 billion in the previous fiscal.
Published on May 15, 2025
This article first appeared on The Hindu Business Line
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