Data from the commerce department showed that exports to India’s major export destinations—the US, the United Arab Emirates, China, Singapore, Bangladesh, and Germany—saw a substantial reduction, leading to a 12.69% decrease in outbound shipments during the first month of the new fiscal year.
The US, which accounts for 17% of all exports from India, had a 17.16% decline in April, totaling $5.9 billion. The United Arab Emirates (UAE), which suffered a fall of 22.09 percent at $2.23 billion in exports, came next. These two nations had an export proportion of more than 23% in April with items worth $8.13 billion.
India’s top 10 export destinations showed a decline in these six nations, but increased exports to Saudi Arabia, the Netherlands, the United Kingdom (UK), and Italy. saw growth of 8.38%, 23%, 20.69%, and 3.59%, respectively.
