2 weeks ago

India Hits Record Exports Despite Freight Surge Amid US-Iran War

India Hits Record Exports Despite Freight Surge Amid US-Iran War
Cargo Rates Surge Amid US-Iran War, Yet India Pulls Off 19.6% Export Jump. Here's How · NDTV

India makes and sells many things to other countries, like machines, electronics, medicines, and clothes.

Those goods are sent on big ships across the ocean.

Lately, sending them has become more expensive because there is a conflict between the US and Iran near the Strait of Hormuz, a very important waterway for ships.

Because of this, shipping companies are taking longer routes, and it is harder to find containers to pack the goods.

Even with all this trouble, India sold a record amount of stuff in July.

The total was almost $44.24 billion, which is 19.6% more than the same month last year.

One big reason is that India now sells to many more countries, such as China and Singapore, instead of just a few places.

Another reason is that India is making fancier, more valuable products that buyers still want even when shipping costs more.

Buyers also care about quality and on-time delivery, and Indian companies are working hard to be reliable.

So even though shipping is bumpy, India's exporters are still finding ways to grow.

Key facts

July merchandise exports
$44.24 billion (record)
Year-on-year growth
19.6%
Engineering goods exports
$12.24 billion, up 17.7%
Electronics exports
~$5.9 billion, up 57.4%
Exports to China
$2.2 billion, up 64.57%
Exports to Singapore
$1.6 billion, up 83.7%
Exports to the US
$9.02 billion, up 12.85%
Exports to the Middle East
$5.7 billion, up 8.6%

Quotes

Vipin Prakash Mangal, Executive Chairman, Mangalam Global Enterprise Limited

Executive Chairman of Mangalam Global Enterprise Limited

“Higher freight costs and geopolitical disruptions are testing exporters, but they are also accelerating a necessary shift – from competing on price alone to building diversified markets and delivering greater value. That is where India's next export opportunity lies.”
NDTV
“Global supply chains are being reassessed almost in real time. For Indian manufacturers, the opportunity is to establish themselves as reliable and technically capable partners across multiple markets rather than depend on a single geography.”
NDTV

Sources

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