Overview
- Quick estimates from the Commerce Ministry show goods exports growing in the Nov. 1–21 period versus a year earlier.
- October exports fell 11.8% to $34.38 billion and the trade deficit hit a record $41.68 billion largely on higher gold imports.
- Sectors including seafood recorded healthy growth and helped drive the early-November rebound, according to the minister.
- Piyush Goyal conveyed the update after chairing the Board of Trade meeting convened to tackle the impact of the US 50% tariff on Indian exports.
- The government is pursuing steps to make SEZ units more competitive and use surplus capacity to cut imports from China and ASEAN, and guidelines under the ₹25,060 crore Export Promotion Mission for IES and MAI are slated for release next week.