India's merchandise exports surge 15% despite global headwinds

India's merchandise exports have grown by over 15 per cent in the first six months of the fiscal year ending September 21, marking a significant achievement amid global economic uncertainties, Commerce and Industry Minister Piyush Goyal said on Monday.

Addressing media after the 14th India-UAE High Level Task Force on Investment meeting, Goyal highlighted the exports growth as noteworthy given the challenging global environment. "We are living in a world where two wars are going on and the Strait of Hormuz, which is our principal sea route, is facing so much stress," he said.

The strong export performance from April to August, which saw a jump of 17.85 per cent, demonstrates India's competitive edge in international markets despite supply chain pressures and geopolitical volatility affecting trade routes. The growth reflects robust domestic production capacity and sustained demand for Indian goods across key markets.

Meanwhile, the UAE reaffirmed its commitment to India's economic development, with plans to invest an additional USD 25 billion in the near term. The UAE, India's seventh largest source of foreign direct investment, aims to eventually scale its total investments in India to USD 100 billion, signalling confidence in India's long-term growth trajectory.