In the first week of May, the country’s total exports reached $ 7.04 billion.
India was in net trade deficit in April.
The country’s exports are witnessing a boom from the month of April. Last month, the country’s exports had registered nearly 3 times increase. This boom is also continuing in May. Exports in the first week of this month increased by 80 percent to reach $ 7.04 billion compared to the same period last year. This information was given in the initial data of the Ministry of Commerce.
According to the data, during the previous year 2020, $ 3.91 billion was exported from May 1 to 7 while in the same period of 2019, $ 6.48 billion was exported. Imports also rose by 80.7 percent to $ 8.86 billion during this period, from $ 4.91 billion in the same period last year and $ 10.39 billion in 2019. In the month of April 2021, the country’s export business increased nearly three times to $ 30.21 billion from the same month a year ago. Due to the lockdown in April 2020, only $ 10.17 billion was exported from the country.
India’s trade deficit stood at $ 15.24 billion in April
There was also a jump in imports in the month of April. India’s total imports stood at $ 45.45 billion in April. India’s total imports in April 2020 stood at $ 17.09 billion. In this way, India has been a net importer in the month of April. India’s trade deficit stood at $ 15.24 billion in that month. Trade deficit has increased by 120.34 percent as compared to April 2020. In April 2020, India trade deficit stood at $ 6.92 billion.
Exports of these items
During this period, the export business of gems and jewelery, jute, carpet, Hasatsilap, leather, electronic goods, oil khal, cashew, engineering, petroleum products, marine products and chemicals was better. Federation of Indian Federation of Exporters Federation of Indian Export Organizations (FIEO) President SK Saraf said that export growth is very encouraging and exporters have good orders.
Government should help exporters
He said, “I would like to ask the government to look into the Commercial Goods Export Scheme (MEIS) from India and the RODTEP rates of refund of duties and taxes on export products for the convenience of exporters and announce it as soon as possible. Because it is impacting the margins of exporters. ”
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