India Outpaces Global Export Growth Amid Geopolitical Turmoil

Finance Minister Nirmala Sitharaman commended the impressive performance of Indian exporters on Monday, as the nation's export growth hit 6.3%, significantly surpassing the global average of 4%. Speaking at the India Exim Bank Trade Conclave, Sitharaman attributed this success to the exporters' resilience in a turbulent geopolitical climate.

The Finance Minister highlighted that despite challenging global environments, marked by conflicts like the Russia-Ukraine war and the Israel-Gaza conflict, Indian exporters have shown adaptability and innovation. She emphasized how these geopolitical tensions have disrupted trade worldwide, yet Indian exporters have managed to navigate these challenges and maintain growth.

Sitharaman pointed out three key factors for this success: consistent growth in exports, a shift from traditional commodities to high-end technology products, and strategic diversification of export markets. The focus on sectors such as pharmaceuticals, IT, and automobiles demonstrates a significant transformation in India's export capabilities, aligning with high-value, high-skill manufacturing sectors.

Moreover, the Finance Minister underscored the importance of supporting SMEs as they venture into the export arena, highlighting their role in bolstering the country's export performance. According to Sitharaman, India's exports reached an all-time high of USD 825 billion in FY 2024-25, showcasing a remarkable growth of 6% over the previous year.

(With inputs from agencies.)