Bank loans to exporters have reached a 12-month high, driven by renewed global demand for Indian goods despite the Red Sea crisis. Outstanding export credit for Indian banks stood at Rs 20489 crore, up 5% this financial year, the highest since February last year. India's merchandise exports surged 11.9% year-on-year in February to $41.4 billion, the fastest growth since June 2022, indicating sustained momentum. Exports of drugs, pharmaceuticals, engineering goods, and chemicals saw significant growth, while gems and jewellery exports declined.
