Ralhan wants diversification of export markets
The strong performance of India’s exports in November, reflecting the resilience and competitiveness of the country’s export sector, S. C. Ralhan, President of the Federation of Indian Export Organisations (FIEO), said in comments as November merchant exports rose 19.37 per cent to US$38.13 billion.
On the services front, exports increased significantly to US$35.86 billion, up from US$32.11 billion.
Merchandise imports during the month stood at US$62.66 billion while services imports edged up marginally to US$17.96 billion from US$17.25 billion in the corresponding period last year.
Overall, India’s total exports in November reached US$73.99 billion, marking a significant increase from US$64.05 billion in the same period last year.
Ralhan noted that the impressive growth of nearly 19.4 percent in merchandise exports, coupled with sustained momentum in services exports, is a highly encouraging signal for India’s external sector.
“The sharp contraction in the trade deficit underscores the ability of Indian exporters to effectively respond to global demand, even amid persistent geopolitical tensions and economic uncertainties worldwide,” he said in comments on 15 Dec.
Total imports during the month declined marginally to US$80.63 billion, compared to US$81.11 billion in November 2024. A key positive highlight was the sharp narrowing of the merchandise trade deficit to US$24.53 billion, from US$41.68 billion in October, reflecting stronger export momentum and improved trade management, the FIEO President said.
Ralhan further emphasized that diversification of export markets, along with the continued resilience of several key sectors, has played a crucial role in supporting export growth. With sustained policy support, enhanced logistics efficiency, and access to competitive export financing, India’s exports are well-positioned to maintain this positive trajectory in the coming months.
The FIEO Chief also reiterated that during April–November 2025, the United States remained India’s top export destination, despite the imposition of a high tariff of 50 percent—clearly demonstrating the resilience and adaptability of India’s exporting community.
Other major export destinations during this period included UAE, Netherlands, China, the UK, Germany, Singapore, Bangladesh, Saudi Arabia, and Hong Kong. On the import side, key source countries were China, the USA, Russia, Saudi Arabia, Iraq, Hong Kong, Singapore, Switzerland and Japan.
Ralhan reiterated the need for continued policy interventions aimed at improving cost competitiveness, easing compliance and procedural challenges, and enhancing market access, to sustain export growth and further reduce the trade deficit. Fiinews.com
