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The recent performance of exports gives a hope that an ambitious target of $400 billion merchandise exports can be achieved this year, stated Union Commerce and Industry Minister Piyush Goyal. Goyal complimented the Exporters for their encouraging performance, even during such trying times. He noted that India s merchandise exports in April 2021 was USD 30.21 billion, an increase of 197.03% over USD 10.17 billion in April 2020 and an increase of 16.03% over USD 26.04 billion in April 2019.
He said that the value of Export in the first week of May 2021 is also up by almost 9% over the same period of 2019-20 (6.48 billion USD). He said that Export excluding POL, is even better, and has increased in this period by 15% over same period of 2019-20. He said that performance of exports in April 21 and 2020-21 gives a hope that an ambitious target of $400 billion merchandise exports can be achieved this year. There is a large potential for enhancing exports in several sectors like Pharma,
Synopsis
In 2020-21, the country s exports declined by 7 per cent to about $290 billion despite disruptions, uncertainty, lockdowns, supply chain difficulties, labour issues, and order cancellations in the Covid year. In the first two weeks of this month also, the performance has been very good, said Piyush Goyal.
NEW DELHI: Commerce and Industry Minister Piyush Goyal on Tuesday called upon the exporters community to strive to attain ambitious growth of more than 25 per cent to reach $400 billion merchandise exports in the current year.
While interacting with various Export Promotion Councils (EPCs), Goyal said that several sectors have large export potential, which needs to be identified and harnessed.
The meeting will be chaired by Commerce and Industry Minister Piyush Goyal. Confirming the meeting, Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai said that the ministry holds these meetings regularly to discuss issues of exporters and ways to further increase outbound shipments. Chairman of the Gems and Jewellery Export Promotion Council (GJEPC) Colin Shah said that these meetings are helpful as exporters get a platform to raise their issues. The meeting also assumes significance as certain exporters are of the view that restrictions, imposed by different states to contain the rising coronavirus cases, for long time could have a bearing on industry.
Exports rise for third straight month in February, trade deficit widens to USD 12.6 billion
According to official data released by the Commerce and Industry Minister on Monday, the trade deficit climbed nearly 24 per cent from $10.16 billion reportedin the year-ago period.
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NEW DELHI: India’s merchandise exports managed to grow for the third straight month in February, rising by a marginal 0.67 per cent to touch $27.93 billion in February. The increase was pulled up by sectors such as pharmaceuticals, coal & minerals, iron ore, chemicals, plastics, carpets and some farm products.
However, a sharper 6.96 per cent rise in imports pushed the trade deficit to $12.62 billion. According to official data released by the Commerce and Industry Minister on Monday, the trade deficit climbed nearly 24 per cent from $10.16 billion reportedin the year-ago period. Imports rose to $40.54 billion.