NEW DELHI, Feb. 15 (Xinhua) -- India's merchandise exports during January registered a 3.12 percent growth at 36.92 billion U.S. dollars over 35.80 billion dollars during the same month last year, revealed the data released by the federal Ministry of Commerce and Industry on Thursday.

The rise in the merchandise exports during January was attributed to growth in exports of petroleum products, engineering goods, iron ore, electronic goods, drugs and pharmaceuticals, among others.

The country's overall exports (Merchandise and Services combined) in January 2024 were estimated to be around 69.72 billion dollars, thus exhibiting a growth of 9.28 percent over the same month last year.

Overall imports in January were estimated to be 70.46 billion dollars, an increase of 4.15 percent over the same month last year.

Reacting to the year-on-year growth of merchandise exports, President of the Federation of Indian Export Organizations (FIEO) Israr Ahmed said, "The increase in exports despite the Red Sea crisis posing challenge on the logistics front, goes to show not only the resilience of the sector but also of the exporting community, who have continuously been braving such odds since Russia-Ukraine war."

Ahmed also expressed hope that the merchandise exports during the financial year 2023-24 (April 2023-March 2024) will cross last year's figures. Enditem

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