May 1st Week Indian exports jumped by 80%

SOURCE: Indian Express.

On May 1st Week Indian exports jumped by 80%

According to preliminary data from the commerce ministry, India’s exports increased by 80% to $7.04 billion in the first week of this month, continuing a positive trend.

Exports were $3.91 billion in the week of May 1-7 last year and $6.48 billion in the same week of May 2019, according to data.

Imports increased by 80.7 percent to $8.86 billion from May 1 to 7, 2021, compared to $4.91 billion last year and $10.39 billion in 2019.

In April, India’s exports nearly tripled to $30.21 billion, up from $10.17 billion the previous month.

Gems and jewellery, jute, carpet, handicrafts, leather, electronic goods, oil meals, cashew, engineering, petroleum products, marine products, and chemicals are all major export commodities that are seeing healthy growth.

S K Saraf, President of the Federation of Indian Export Organisations (FIEO), stated that export growth is encouraging and exporters’ order books are healthy.

May 1st Week Indian exports jumped by 80%

“I will urge the government to investigate the MEIS issues” (merchandise export from India scheme). “RoDTEP (remission of duties and taxes on export products) rates should also be announced immediately to push shipments even further, as exporters’ profitability is being impacted,” he said.

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May 1st Week Indian exports jumped by 80% May 1st Week Indian exports jumped by 80%

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