Indian Exports News

Outbound shipments touched an all-time high of $40 billion in a month in March 2022. India’s exports had stood at $34 billion in March 2021. Twitter users also hailed India’s growth in exports.

Merchandise exports were worth USD 292 billion in FY2020-21. India's merchandise exports had breached the targeted USD 400 billion mark on March 23 this year.

It said that the export sector is facing major issues due to rising freight cost and its dependence on global shipping companies. These measures would promote value addition within the country and make the products competitive in the global markets. During April-December 2021-22, exports rose 49.66 per cent to USD 301.38 billion.

Imports in December too rose by 38 per cent to USD 59.27 billion on account of an increase in oil imports, which soared 65.17 per cent to USD 15.9 billion, government data showed on Monday.

Piyush Goyal further added that FDI and the nation’s exports have increased over time. India's exports seem to remain unaffected in the first quarter of 2021 from the months of April to June.

The data showed that the export of engineering goods showed an increase of 209.65 percent (YoY) over 2020-21 and of 8.4 percent YoY over 2019-20. The US and China accounted for most of the rise in exports during the seven-day period. The imports included petroleum crude and products and electronic goods.

In November 2020, the value of non-petroleum exports was USD 21.95 billion, registering a negative growth of 0.03% over Nov 2019 The value of non-petroleum and non-gems and jewellery exports in Nov 2020 was USD 19.26 billion The cumulative value of non-petroleum and non-gems and jewellery exports in April-Nov 2020-21 was USD 144.04 billion

Recording a growth of over 3.9 percent on the back of a healthy rise in shipments of engineering goods, Indian exports petroleum products and chemicals, Indian exports in July grew at $22.5 billion,

After years of decline, Indian exports to China rose sharply in the first four months of this year registering a 20 percent increase to USD 5.57 billion, though the trade deficit continued to persist.

India's foreign exchange reserves rose by USD 1.588 billion to USD 363.146 billion in the week to February 3 on a jump in core currency holdings and value of gold reserves, the Reserve Bank said.

India`s foreign exchange reserves went up marginally to $360.77 billion as on January 20, 2017, the Reserve Bank of India (RBI) said.

The rupee which is currently hovering around 67 per dollar level is expected to shift from a depreciation path to a consolidative trend over the next 12 months, says a DBS report.

India's merchandise exports will be between USD 265-268 billion in 2015-16, significantly lower than USD 310.5 billion in the previous fiscal, stung by the sharp erosion in commodity prices globally, according to Assocham.

Export Promotion Council for Handicrafts (EPCH) said that Indian products would loose their competitiveness in the global market due to the devaluation of yuan.

Mehrishi pushed for RBI cutting interest rate to encourage manufacturing and boost exports, arguing risks are not much as inflation is low.

The Trans-Pacific Partnership (TPP) impact on India and South Asia will be much more than the short-term tariff-preference erosions for the region's exports, a senior researcher at Singapore?s Institute of South Asian Studies (ISAS) says.

"If exports continue to move in the negative territory, it will sooner or later put pressure on CAD (current account deficit) and may derail the rebuilding of economy."

Services export in 2014-15 fiscal stood at USD 167.01 billion, down 4 percent from the year-ago period while imports were at USD 88.19 billion, up 3.8 percent from 2013-14 fiscal.

In 2014-15, chilli, cumin, turmeric, coriander and ginger accounted for more than 70 percent of the total volume of spice export whereas mint, chilli, spice oils & oleoresins, cumin and pepper accounted for around 70 percent of the total export earnings.

The country's exports stood at USD 310.5 billion against a target of USD 340 billion for 2014-15 fiscal.