Saturday, July 31, 2021

India’s exports increased by 80 per cent to $7.04 billion during the first week of May: Commerce Ministry

According to preliminary data of the commerce ministry, continuous positive growth has been recorded in Indian exports, as it grew by 80 per cent to $7.04 billion during the first week of May.

Imports too rose by 80.7 per cent to $8.86 billion during the first week of May 2021 as against $4.91 billion in the same period last year. India’s exports in the month of April bounced nearly $30.21 billion from $10.17 billion in the same month last year.

Major export products which are registering healthy growth from India include gems and jute, leather, carpet, handicrafts, jewellery, cashew, electronic goods, oil meals, engineering products, marine products, petroleum products and chemicals.

Excellent earlier growth in India’s exports

India’s export of processed food products have grown by 26.51% during April’20-Feb’21 to ₹43,798 crores. Major goods exported include pulses, guar gum, processed vegetables, processed fruits and juices, groundnuts, milled products, cereals preparations, alcoholic beverages and oil meals and value-added products such as alcoholic beverages and processed vegetables had witnessed a growth of more than 40 per cent in April’20-Feb’21.

The country’s export of essential agricultural commodities for the April’20-Feb’21 period has grown by 18.49% to ₹2.74 lakh crore as compared with ₹2.31 lakh crore in the same period last year.

Merchandise exports in March 2021 have grown by 60.29% as compared to March 2020, and it was estimated that the export of merchandise and services to be at $52.20 Billion. This increase is due to haelthy export growth in key sectors such as engineering goods, gems & jewellery, petroleum products, drugs & pharmaceuticals and Organic & inorganic chemicals.

It is to be expected that the exports growth in India is encouraging and order books of exporters are healthy, and in future India will continue the rally of the exports.

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