Exports rise record 60.29% to $34.45 billion in March
April 15, 2021
In fiscal 2020-21, exports decline moderately by 7.26 per cent; fall in imports sharper
India s goods exports posted a record monthly growth of 60.29 per cent (year-on-year) to $ 34.45 billion pushed by sectors such as engineering goods, electronics, petroleum products, gems & jewellery, and pharmaceuticals.
In the fiscal year April-March 2021, however, exports declined by 7.26 per cent to $290.63 billion compared to the previous fiscal as Covid-19 disruptions slowed down production and demand worldwide.
Imports during the month increased 53.74 per cent to $48.38 billion, with surges in items such as gold, machinery, chemicals, plastics and electronics, resulting in the trade deficit widening to $13.93 billion compared to $9.98 billion in the previous fiscal, per quick estimates released by the Commerce & Industry Ministry.
Recalibrating relations with EU
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Forging stronger ties with the region could help India strengthen manufacturing and revitalise exports
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Forging stronger ties with the region could help India strengthen manufacturing and revitalise exports
The Atmanirbhar Bharat programme and the Budget 2021-22 have set the tone and tenor to bolster supply chains and achieve self-reliance. A self-reliant India, however, cannot be economically insular. Realising the vision of a self-reliant India would entail localising an increasing share of value added along supply chains through investments and phase-wise reduction of import tariffs with strategic partners such as the European Union (EU).
India s exports up 6.16 pc in January
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Exports during April-January this fiscal dipped by 13.58 per cent to USD 228.25 billion, while imports declined by 25.92 per cent to USD 300.26 billion.
India s exports rise 6.16 pc in January; trade deficit narrows to USD 14.54 bn
New Delhi: India’s merchandise exports rose for the second consecutive month in January and at a faster pace than seen in preliminary estimates released earlier this month, official data released Monday showed. In an indicator of the recovery in domestic demand, imports increased and the country’s trade deficit narrowed to $14.54 billion.
The trade gap was $15.3 billion in January 2020 and 15.44 billion in December.