business π India's exports soar despite global shipping chaos π’
Despite rising cargo rates due to the US-Iran tension, India's merchandise exports hit a record $44.24 billion in July. This growth occurred while exporters faced higher freight costs and supply chain unpredictability across various routes. The surge was fueled by expanding into non-traditional markets like ASEAN and Africa, according to Commerce Secretary Rajesh Agrawal. Furthermore, the shift towards higher-value products, like engineering and electronics goods, significantly boosted the overall figures. This momentum shows Indian businesses are building resilience by diversifying their global client base.