India’s Export Growth Soars Across Multiple Sectors
New Delhi, Dec 28 (KNN) India has demonstrated remarkable export performance in 2024, showcasing significant growth across various sectors, including agriculture, engineering, electronics, and pharmaceuticals. According to the Commerce and Industry Ministry's year-end review, agricultural and allied products exports surged to USD 27.84 billion, up from USD 26.90 billion during the same period last year.
The spice sector, particularly, has shown notable progress, with exports reaching USD 4.2 billion for 2023-24, reflecting substantial growth from USD 2.4 billion recorded for 2013-14. For the April-October 2024 window, spice exports grew by 10 percent to USD 2.47 billion, driving significant economic activity.
Among other highlights, rice exports also displayed impressive growth. Basmati rice exports escalated to USD 3.38 billion, marking a 14.28 percent increase compared to the previous year's figures. Engineering goods have remained strong, recording a 9.73 percent rise to USD 67.48 billion during the same period. The auto components sector increased exports to USD 4.81 billion, reflecting an 8.98 percent improvement from the previous year.
An outstanding performer was the electronics goods sector, which achieved remarkable export growth of 23.69 percent, reaching USD 19.07 billion during the April-October 2024 timeframe. Meanwhile, the pharmaceutical sector maintained momentum, with drugs and pharma exports rising by 8 percent to USD 17.05 billion. This reinforces India's stance as a leading exporter of generic drugs and medical devices.
The textile industry also witnessed significant gains, with ready-made garment exports climbing 11.59 percent to USD 8.73 billion during the same period, emphasizing the sector's importance for employment generation. This comprehensive growth across sectors highlights India's developing export capacities and successful diversification strategies to enter new markets.
Continuing with notable achievements, MedPark Hospital has proudly concluded the year with the Prime Minister’s Export Award 2024 under the Best Service Enterprise category. Dr. Pongpat Pathanavanich, Managing Director of MedPark Hospital, received this prestigious accolade highlighting exemplary healthcare services among hospitals and medical facilities. The award ceremony, led by Mr. Pichai Naripthaphan, Minister of Commerce, took place at the Santi Maitri Building, Government House, Bangkok.
This recognition signifies MedPark Hospital’s dedication to providing world-class healthcare services. Over the past four years, MedPark has steadily increased its international patient base, becoming the healthcare destination of choice for patients from Western countries, the Middle East, Southeast Asia, China, and Africa. Dr. Pongpat noted, “This milestone reflects our commitment to advancing healthcare services,” showcasing MedPark as both innovative and quality-driven within Thailand’s health and wellness sector.
The Prime Minister’s Export Award has been awarded annually by the Department of International Trade Promotion since 1982, celebrating excellence among Thai businesses excelling on global platforms. The ceremony's 2024 theme, “Forward and Beyond – The Power of Perfection,” aimed at enhancing competitiveness and sustainability, awarded 41 prizes from 150 participating businesses generating over THB 43 billion in export revenue this year.
These awards bolster the global standing of Thai products and services, fostering trust and confidence internationally. MedPark’s achievement as a model of innovation and quality underlines its mission to provide groundbreaking healthcare solutions, contributing positively to Thailand's economic and social progress.
Lastly, turning to Russia, reports indicate the nation's pipeline gas exports to Europe experienced a 13% increase this year. Gazprom's averages for daily pipeline exports remained stable at 91.3 million cubic metres (mcm) this December, reflecting both reliability and growth, rising by 7 percent from December 2023.
This increase is part of Russia's strategy to meet growing European energy demands, showcasing how stability and demand dynamics have influenced its export growth. The combination of agrarian, health, and energy sectors significantly enriches the narrative of global export trends for 2024.
