India’s March exports flat as global demand stays muted

India’s export sector continues to face headwinds from slowing global trade. While the country has managed to hold its ground compared to last year, analysts note that the absence of growth reflects persistent challenges in key markets such as the US, Europe, and parts of Asia.  

Export Performance  
Preliminary estimates suggest that March exports will remain flat compared to March 2025. This stability comes despite volatility in global commodity prices and reduced demand for textiles, gems, and jewelry.  

Sectoral Trends  
Pharmaceuticals and engineering goods showed resilience, helping offset declines in traditional sectors. Agricultural exports also remained steady, though rising freight costs continue to weigh on margins.  

Trade Snapshot  

• March merchandise exports seen flat year-on-year  
• Weak demand in textiles, gems, and jewelry  
• Pharmaceuticals and engineering goods show resilience  
• Agricultural exports steady despite higher freight costs  
• Global demand slowdown continues to impact growth  

Future Outlook  
Trade experts suggest that India’s export growth may remain subdued in the near term unless global demand recovers. The government’s focus on diversifying export markets and promoting value-added goods could provide medium-term support, but challenges in logistics and pricing remain.  

Sources: Reuters, Economic Times, Business Standard, Mint