Page 19 - Policy Economic Report - December 2024

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

• Exports of Rice (95.18%), Electronic Goods (54.72%), Tobacco (50.48%), Jute Mfg. Including Floor
Covering (36.13%), Cashew (23.61%), Meat, Dairy & Poultry Products (21.38%), Marine Products
(17.82%), Coffee (16.31%), Tea (15%), Engineering Goods (13.75%), Plastic & Linoleum (10.91%),
Rmg Of All Textiles (9.81%), Other Cereals (7.4%), Spices (6.1%), Man-Made Yarn/Fabs./Made-
Ups Etc. (4.88%), Cereal Preparations & Miscellaneous Processed Items (2.71%), Carpet (2.4%),
Oil Seeds (2.19%), Cotton Yarn/Fabs./Made-Ups, Handloom Products Etc. (2.02%), Drugs &
Pharmaceuticals (1.12%) and Leather & Leather Products (0.73%) record positive growth during
November 2024 over the corresponding month of last year.

• Imports of Leather & Leather Products (-41.59%), Coal, Coke & Briquettes, etc. (-29.31%), Iron &
Steel (-28.63%), Dyeing/Tanning/Coloring Mtrls. (-5.26%), Transport Equipment (-5.23%), Pearls,
Precious & Semi-Precious Stones (-3.27%), Metalliferous Ores & Other Minerals (-0.86%) record
negative growth during November 2024 over the corresponding month of last year.

• Services exports is estimated to grow by 14.48 percent during April-November 2024 over April-
November 2023.

• Top 5 export destinations, in terms of change in value, exhibiting growth in November 2024 vis a
vis November 2023 are U Arab Emts (11.38%), Australia (64.38%), Italy (37.71%), Singapore
(22.88%) and Malaysia (27.31%).

• Top 5 export destinations, in terms of change in value, exhibiting growth in April-November 2024
vis a vis April-November 2023 are U Arab Emts (15.25%), Netherland (23.04%), U S A (5.27%),
Singapore (20.7%) and U K (15.21%).

• Top 5 import sources, in terms of change in value, exhibiting growth in November 2024 vis a vis
November 2023 are Switzerland (360.02%), U Arab Emts (109.57%), South Africa (217.33%),
Australia (71.91%) and Saudi Arab (35.64%).

• Top 5 import sources, in terms of change in value, exhibiting growth in April-November 2024 vis
a vis April-November 2023 are U Arab Emts (60.84%), China P Rp (9.81%), Russia (9.22%),
Switzerland (21.83%) and Taiwan (42.82%).

6. India’s FDI Journey Hits $1 Trillion

India has achieved a remarkable milestone in its economic journey, with gross foreign direct investment
(FDI) inflows reaching an impressive $1 trillion since April 2000. This landmark achievement was bolstered
by a nearly 26% rise in FDI to $42.1 billion during the first half of the current fiscal year.

Such growth reflects India’s growing appeal as a global investment destination, driven by a proactive
policy framework, a dynamic business environment, and increasing international competitiveness.

FDI has played a transformative role in India’s development by providing substantial non-debt financial
resources, fostering technology transfers, and creating employment opportunities. Initiatives like "Make

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