Kautilya

Frozen shrimp remained the central pillar of India’s seafood export success. The country exported 7,92,647 metric tonnes of frozen shrimp, earning ₹49,037.93 crore, or US $5.62 billion. Shrimp alone contributed 40.19% of total export volume and 66.52% of total seafood export earnings in dollar terms, proving its continued dominance in India’s marine export basket.

The May improvement was led by stronger growth in factory output, new orders and purchasing activity. Manufacturers reported better demand conditions, fresh business gains and support from infrastructure-linked activity. The rise was especially visible in intermediate and capital goods, where output and order flows improved faster than in consumer goods. This matters because capital and intermediate goods are closely linked to investment, supply chains, construction, machinery, industrial expansion and future production capacity.

The April print shows that industrial growth was led by manufacturing, which expanded 6.2 per cent year-on-year. This is significant because manufacturing carries the largest weight in the IIP basket and remains central to India’s ambition of becoming a larger global production hub. The general IIP index stood at 118.9 in April 2026, compared with 113.1 in April 2025, indicating a broad rise in industrial activity.

The May number is important because it shows that India’s indirect tax system continues to operate at a high monthly base. A few years ago, a ₹1.5 lakh crore GST collection was treated as a strong month. Today, collections around ₹2 lakh crore have become more common, showing the widening of the tax base, greater digitisation of invoices, improved compliance systems and a larger formal economy.