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Limited Trade Pact Between India And The US Deferred; Focus On Resolving Market Access Issues For Now

Strong growth abroad is export opportunity knocking at our door, writes Ajit Ranade

Strong growth abroad is export opportunity knocking at our door, writes Ajit Ranade
freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.

Indian exports: Several key sectors stare at export impact as pandemic rages

Several key sectors stare at export impact as pandemic rages Synopsis “People are scared to buy from India and uncertain if we can deliver the orders,” said Sharad Kumar Saraf, president of the Federation of Indian Export Organisations. “If cases continue to increase like this, with workers and staff getting infected, we might see an impact.” India’s exports could take a knock in the months ahead as international buyers have started looking elsewhere for supplies amid uncertainty over delivery commitments as the pandemic rages. Textiles, garments, automobiles and steel are expected to be the most impacted, exporters said, even as demand recovers in the UK and the US.

Indian exports: Sharp growth in exports reflects pick-up in demand in western markets: TPCI

Synopsis India s exports in April jumped nearly three-folds to USD 30.21 billion on account of healthy growth in key sectors including engineering, gems and jewellery and petroleum products. Getty Images TPCI Founder Chairman Mohit Singla said that April exports growth is one of its kind optimistic and is a healthy sign, reflecting a balanced overall growth across sectors. The Trade Promotion Council of India (TPCI) on Monday said that healthy exports growth in labour-intensive sectors such as jute, carpet, handicrafts and leather indicates that demand is picking up in the western markets. India s exports in April jumped nearly three-folds to USD 30.21 billion on account of healthy growth in key sectors including engineering, gems and jewellery and petroleum products.

Engineering exports jump 70% in March marking a major rebound

In a major rebound of trade since the onset of the Covid-19 pandemic, exports of engineering goods from the country recorded an impressive 70.28 per cent growth in March. India s total merchandise exports during this period were $34 billion as compared to $21.49 billion in March 2020 registering a jump of 58.23 per cent. The monthly growth is the best-ever performance so far. The sudden jump in outbound shipments offers hope of a sustained growth in the sector in the coming months on the back of vaccine roll-out and containment of virus spread. With major economies of the world including India taking steps to boost demand and enhance business activities, international trade could reach pre-Covid level sooner than expected.

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