India?s merchandise exports remained resilient despite mounting geopolitical tensions and disruptions to global trade routes

Commerce and Industry Minister Piyush Goyal has said that India?s merchandise exports have registered 15 per cent growth so far in the current financial year, despite the Red Sea crisis and global turmoil. He said that despite these headwinds, India?s merchandise exports have grown by 15 per cent during the April-July period. Mr Goyal said the country?s merchandise exports remained resilient despite mounting geopolitical tensions and disruptions to global trade routes.

The Minister said India?s export performance reflects the strength of the country?s economic fundamentals, even as businesses worldwide grapple with uncertainty stemming from conflicts in West Asia and disruptions in key shipping corridors. The Minister said the first quarter of the current financial year has been marked by persistent global challenges, including volatility in crude oil, petrol, diesel and gas markets, as well as uncertainty surrounding the Strait of Hormuz and the continuing Red Sea crisis.

Highlighting India?s broader economic performance, Mr Goyal said the country remained the world?s fastest-growing major economy, recording 7.7 per cent growth in the previous financial year despite a lot of uncertainty around the world.

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