New Delhi: A final -minute scuffle by companies to defeat Donald Trump’s mutual tariffs may have helped India come close to FY24 goods level exports of $ 437 billion, said senior officials said.
Apple is said to have sent five planeids of iPhones and other products in just three days to stock up their warehouses and not increase prices.
In its version on Saturday, Toi reported that Apple had sent “unusually high” shipments from both India and China, despite being a lean season. The trend was also seen in the case of other electronics products. An official said.
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Players of gems and jewelery also increased exports amid pressure from American buyers. Between 1 and 4 April, Geeta and Jewelry Export Through the precious cargo clearance system for customs in Mumbai, the US rose to about six times $ 344 million as compared to $ 61 million in the same period last year. It was probably to defeat 10% tariffs kicking at midnight on Saturday. Apparel shipments were equally rapidly tracked.
March bump can help India export Top $ 800BN in FY25
Exports of goods and services of India estimates that it tops $ 800 billion during the financial year ending March.
In 2023-24, India’s export exports declined by 3% and cumulative exports reached $ 778 billion. A few weeks ago, Commerce and Industry Minister Piyush Goyal naked exporters to increase the flow of consignments during the last fortnight of the last financial year. This came after 11% decline in exports during typical February, which was estimated to be $ 36.9 billion, compared to $ 41.1 billion in February 2024.
Kirit Bhansali, president of the James and Jewelery Export Promotion Council, said, “There was a significant increase in exports during the last week of March.” Preliminary estimates suggested that gems and jewelery exports were flat at $ 1.7 billion in March.
Fieo, Fieo, Ajay Sahai said, “There was an increase in areas where goods were possible to transport goods in the US. I am expecting exports of more than $ 40 billion in March 2025.” In March 2024, the export was $ 41.6 billion. Trade data is going to be released on 15 April.
On its behalf, the government is trying to target the increase in goods exports during the current financial year, even assuming that the increase in services can be maintained because India enjoys a strong competitive advantage due to a vast efficient workforce in the regions. A senior government official said low oil prices would help manufacturers, while retail sellers in the US will reduce high margin for many items to offset the effect of high tariffs. Typically, external trade increases in March. An industry source said that due to the tariff threat, there was a lot of uncertainty among businesses.
With shares in their warehouses, companies are hoping to reduce some shock for consumers, although exporters said it could affect the amount of goods sent during the first quarter of the current financial year. Exporters are hoping that in the next few months, uncertainty will also be reduced, putting the business back on the track.
