According to the latest data released by the government, the exports rose on a year-on-year basis in June and going by the trend, the country's total exports of goods and services may cross USD 800 billion this fiscal.
The just-concluded financial year, 2023-24, saw India's exports soaring to unprecedented heights, surging past the remarkable milestone of USD 778 billion. The surge in exports reflects the concerted efforts of various stakeholders, including government initiatives and proactive policy reforms.
Global Trade Research Initiative's report suggested that Indian exports may not be as impacted as other large economies by weak global demand in 2023.
"Mann ki Baat" is the prime minister's monthly radio address, which is broadcast on the last Sunday of every month at 11 am.
Imports during the month too jumped 36 percent to USD 55.45 billion, with inbound shipments of petroleum and crude oil surging 69 percent to USD 15. 28 billion.
In India, where exports make up relatively small shares of the economy, high commodity prices have boosted the value of exports. This is one factor that helped reinvigorate India after its first devastating wave of COVID-19.
Though several countries supply black tigers from both farmed and wild sources, India accounts for nearly 6 per cent of the global fish production and is the largest producer of shrimps in the world.
Exports of petroleum products, engineering, pharma and gems and jewellery in August rose by 43.25 per cent, 31.81 per cent, 28.52 per cent and 34.76 per cent respectively.
The US Trade Representative (USTR) argued that at least half a dozen Indian programmes provide financial benefits to Indian exporters, which allow them to sell their goods more cheaply to the detriment of American workers and manufacturers.
Commerce Minister Nirmala Sitharaman today said that the implementation of the Goods and Services Tax (GST) from July 1 would help make exports more competitive.
For the sixth consecutive month, India’s exports reported a double-digit growth during February, according to official data released on Wednesday.
New Delhi: Indian exports will fall short of the envisaged target of $325 billion in the current fiscal year (FY14) though it would be more than what was achieved in the last financial year, Commerce
New Delhi: India's exports rose 3.79 per cent to $26.75 billion in January, helping the trade deficit to narrow to $9.92 billion.For the April-January period, exports were up 5.71 per cent to $257.09 billion.Commerce Secretary
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