Overview
- Commerce Minister Piyush Goyal said merchandise exports were in positive territory through November 21 compared with a year earlier, citing quick estimates after a Board of Trade meeting.
- Sectors such as seafood recorded healthy growth, with the minister noting significant gains across several categories.
- In October, exports fell 11.8% to USD 34.38 billion and the trade deficit hit a record USD 41.68 billion, a surge driven largely by gold imports and the impact of high US tariffs.
- For April to October, exports edged up 0.63% to USD 254.25 billion while imports rose 6.37% to USD 451.08 billion, underscoring persistent import pressures.
- Goyal said active interministerial work aims to make Special Economic Zone units more competitive and to use surplus capacity to replace imports from China and ASEAN countries.