India's Export Surge: Economic Trends in October 2024

India's October 2024 trade data showed a 17.26% increase in merchandise exports to $39.2 billion, driven by pre-Christmas inventory buildup in Western markets. Key sectors included engineering goods, electronics, chemicals, readymade garments, and rice exports.

Export Performance and Growth:

Merchandise exports rose 17.26% to $39.2 billion (28-month high)
Non-oil exports grew 27.7%, reaching $31.36 billion

Key performing sectors:

- Engineering goods: 39.4% growth
- Electronics: 45.7% surge
- Chemicals: 27.35% increase
- Readymade garments: 35.1% rise
- Rice exports: Impressive 85.8% jump
Driven by pre-Christmas inventory buildup in Western markets
Projected total exports above $800 billion for fiscal year 2024-25

Import Dynamics and Trade Deficit:

Total imports increased 3.88% to $66.34 billion

Significant import increases:

- Crude oil imports: $18.2 billion
- Gold imports: $7.13 billion
- Electronic goods
- Vegetable oil
- Non-ferrous metals
Merchandise trade deficit expanded to $27.14 billion
Cumulative trade deficit from April-October: $164.65 billion

Factors contributing to import surge:

- Festival season demand
- Global supply chain dynamics
- Geopolitical tensions affecting trade routes

Sectoral and Strategic Insights:

Services exports grew 21.3% to $34 billion

Smartphone exports hit record $2 billion in October

- First seven months of fiscal year: $10.6 billion exports
- 37% year-on-year surge
- Apple's largest quarterly shipments: 4 million units

Government focus on strategic sectors:

- Electronics
- Engineering
- Pharmaceuticals
- Production-Linked Incentive (PLI) scheme support

Challenges:

- Geopolitical tensions
- Disrupted traditional trade routes
- Global economic uncertainties

Ballari Railway Connectivity Project

The Ballari railway connectivity project has emerged as a game-changer in India's infrastructure push, especially for Karnataka’s mining and logistics belt. Recently approved by the C

Urban Consumer Sentiment India May 2025 Report

In May 2025, the Reserve Bank of India (RBI) released its latest Urban Consumer Confidence Survey, revealing a detailed picture of the urban consumer sentiment in India. This data is important

Railway Connectivity to Kashmir Valley

The inauguration of the Vande Bharat train to Kashmir marks a historic milestone in India’s railway infrastructure. Prime Minister Narendra Modi recently flagged off two specially designe

RBI Gold Loan Guidelines 2025

On April 9, 2025, the Reserve Bank of India (RBI) published draft guidelines that propose new regulations to standardize lending procedures for loans secured by gold collateral. This move seeks

China EV Export Market Share

In recent years, China's EV export market share has grown exponentially, positioning the country as the global leader in the electric vehicle (EV) industry. According to the Global EV Outlook

Reliance and Nifty50

It is crucial to have knowledge of economic subjects like Nifty50 in order to do well on SSC exams. Nifty50 is an indicator that tracks the stock market performance of the top 50 companies listed

Kallapu-Sajipa Riverfront Road Project

When it comes to building new infrastructure, Karnataka is in the forefront. There are a lot of big initiatives in the state that are boosting the economy and making things more accessible.

India's Manufacturing Vision 2025

India's manufacturing policies have recently gained significant attention as the government seeks to strengthen the country's industrial sector and achieve long-term economic growth. Th

What Drives the Gold Price Rs 1 Lakh?

Gold prices in India have surged to an all-time high, surpassing the Rs 1 Lakh mark per 10 grams for the first time. This significant rise in the Gold Price of Rs 1 Lakh is linked to various g

India’s GDP Growth Rate Falls to 6.4%

Fitch has revised its 2025 GDP forecast for India from 6.6% to 6.4%, a decrease of 10 basis points. This is the most recent global economic news. While this may not seem like a major drop, it’