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Summary:

The Commerce Ministry has asked Indian missions in 20 countries to identify market opportunities for six key goods and services to boost exports. After a recent meeting, the focus is on understanding competitors, trends, and companies in sectors like engineering and electronics. Target countries include the US, Australia, China, and Japan, as part of a strategy to expand India's export reach.

 

This initiative is important as these countries make up a large part of India's export market. After strong exports in October 2024, November saw a 4.85% drop, totaling ₹2,75,664 crore (US$ 32.11 billion). However, for FY25 (April-November), exports grew by 2.17%, totaling ₹24,40,801 crore (US$ 284.31 billion). Services exports also reached a record ₹2,94,551 crore (US$ 34.31 billion) in October, up 22.3%.

 

Source: IBEF

 

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