India’s outbound shipments witnessed a significant uptick in July, driven by robust growth in sectors such as electronics, meat, dairy, poultry, and oil meals. According to a Crisil report released on Monday, these categories recorded substantial year-on-year increases.
Electronic goods exports surged by 37.3%, while meat, dairy, and poultry products saw a remarkable 56.2% growth. Oil meals exports also expanded by 22%. Other sectors like readymade garments, spices, and tea also demonstrated strong performance.
However, certain categories such as gems and jewellery, ceramic products, glassware, organic and inorganic chemicals, and rice experienced a decline in exports.
The report highlighted the resilience of labour-intensive sectors, with carpets, handicrafts, manmade yarn, and fabrics registering stronger growth compared to the previous month. Leather and leather products exports also rebounded, clocking 2.3% growth for the first time since November 2022.
While rice and fruits and vegetables exports witnessed moderate growth due to unfavourable base effects, the report expressed optimism about future prospects. Improved rainfall in July is expected to boost kharif crop production, leading to increased rice inventories and potentially higher exports in the coming months.
