India's exports to West Asia dropped 7.2% in the April-September period, driven by a 27% decline in petrol and diesel alongside an 8.6% drop in jewellery. Bucking this downward trajectory, shipments to Oman expanded by 45% to $3.2 billion, supported by a fresh free trade agreement and ports bypassing Strait of Hormuz disruptions. Concurrently, outbound trade to Jordan more than doubled to $1.2 billion, bolstered by significant fuel deliveries. Even amid broad regional headwinds, certain categories like basmati rice, ships, and boats recorded notable gains.
Key points
Declining demand for traditional staples such as refined oil products and jewellery drove…: Declining demand for traditional staples such as refined oil products and jewellery drove the broad contraction across West Asian export destinations.
Trade pacts and rerouted maritime corridors enabled Oman to secure large volumes of India…: Trade pacts and rerouted maritime corridors enabled Oman to secure large volumes of Indian ships, minerals, and steel.
Increased deliveries of 9,000 barrels of fuel daily position Jordan as both a major consu…: Increased deliveries of 9,000 barrels of fuel daily position Jordan as both a major consumer and an emerging regional transit gateway.
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NEW DELHI: India's exports to West Asia fell 7.2% during the first half of the current financial year, with Oman and Jordan bucking the trend. While Oman gained due to the closure of the Strait of Hormuz, Jordan was a surprise, with exports from India doubling on account of a spike in buffalo meat, oil products and pharma exports.
Among the top products exported from India to the Gulf nations, jewellery, oil products and mobile phones have seen a dip, while ships and boats and basmati rice are among the top gainers. Shipments of petrol and diesel to GCC and other West Asian countries are estimated to have fallen 27% to $3.5 billion, while gold and other jewellery to the Gulf trading bloc is down 8.6% to $3.2 billion, latest available data with the commerce department showed.
While exports to Oman have jumped 45% to $3.2 billion during April-Sept, the value of goods shipped to Jordan soared 2.4 times to $1.2 billion. In case of Oman, the free trade agreement was implemented a few months ago, which has provided a…
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