Merchandise & Services Exports Cross $50B Mark; Electronics Shipments Jump 34%

India's combined outbound shipments of merchandise and commercial services exceeded $50 billion for the month, driven by a dramatic 34% surge in electronics goods exports.

Smartphone manufacturing clusters in Tamil Nadu, Karnataka, and Andhra Pradesh drove overseas consignments to North America and the European Union. Pharmaceutical formulations and engineering capital goods also posted healthy double-digit gains.

The trade balance narrowed substantially as indigenous production replaced previously imported electronics sub-assemblies.