"Import policy for tur/pigeon peas; moong and urad is revised from “restricted” to “free” with immediate effect and for the period up to October 31, 2021," the notification says. The policy will be in effect till October 31, 2021. All consignments will have to be cleared before November 30, 2021 and bill date should be October 31 or before.
India s exports surge 80% to $7 billion during May 1-7
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Last Updated: May 09, 2021, 01:57 PM IST
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Imports too rose by 80.7 per cent to $8.86 billion during May 1-7, 2021 as against $4.91 billion in the same period last year and $10.39 billion in 2019.
Reuters
India s exports in April jumped nearly three-folds to $30.21 billion from $10.17 billion in the same month last year.
Continuing a positive growth, India s exports grew by 80 per cent to $7.04 billion during the first week of this month, according to preliminary data of the commerce ministry. Exports during May 1-7 last year stood at $3.91 billion and $6.48 billion in the same week of May 2019, data showed.
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Synopsis
Major export commodities which have recorded positive growth in April include gems and jewellery, jute, carpet, handicrafts, leather, electronic goods, oil meals, cashew, engineering, petroleum products, marine products and chemicals.
Last year India was under a strict national lockdown to curb the spread of the coronavirus, leading to a significant reduction in international trade volumes.
Led by a sharp growth in exports of gems and jewellery, engineering goods and petroleum products, and supported by base effect India’s outbound goods shipments in April rose a record 197.03% to $30.21 billion. Exports had contracted a sharp 60.28% in April last year due to the national lockdown and halt in manufacturing to curb the spread of the Covid-19 pandemic.
Engineering goods exports jump sharply in April
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As per preliminary government data, India’s merchandise exports in April 2021 was US$ 30.21 billion, up 197.03% over US$ 10.17 billion in April 2020 and an increase of 16.03% over US$ 26.04 billion in April 2019.
The WTO has revised its projection upward and expects the global trade volume to increase by 8% in 2021.
Engineering goods exports zoomed 234.63% in April 2021 indicating that recovery in outbound trade is well on track and outlook remains positive. While sharp jump in shipments is primarily on account of low-base effect, it has also been supported by robust demand, said EEPC India chairman Mr Mahesh Desai.