India’s goods exports in June grew 2.55 per cent year-on-year to $35.2 billion. There was continued demand recovery in key export markets such as the US and the European Union. A 20 per cent jump in petroleum import bill year-on-year in June widened the trade deficit to $20.98 billion from $19.19 billion during the previous year.
The Federation of Indian Export Organisations (FIEO)president Ashwani Kumar said that exporters are going through “extraordinary logistics challenges” such as lack of container availability, shipping space, irregular shipping schedule and ships skipping Indian ports and that the exports would have recorded close to “double-digit growth” in June 2024 in the absence of these disruptions.