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India’s merchandise exports near $300 billion in Apr -Dec 2021

India’s merchandise exports in December 2021 increased 37 percent to $37.29 billion, the highest-ever monthly achievement, compared to $27.22 billion in December 2020.

India%u2019s merchandise exports near $300 billion in Apr -Dec 2021
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Photo by Pat Whelen on Unsplash

January 4, 2022: India’s merchandise exports in December 2021 increased 37 percent to $37.29 billion, the highest-ever monthly achievement, compared to $27.22 billion in December 2020.

The increase was 37 percent over $27.11 billion in December 2019, according to preliminary data released by the commerce ministry.

Merchandise exports in April-December 2021 was $299.74 billion, an increase of 49 percent over $201.37 billion in April-December 2020 and an increase of 26 percent over $238.27 billion in April-December 2019, data show.

Value of non-petroleum exports in December 2021 was $31.67 billion, a YoY growth of 27 percent. The cumulative value of non-petroleum exports in April-December 2021 was $257.14 billion, a YoY increase of 40 percent.

The major commodity groups covering 79 percent of exports with growth in December 2021 included engineering goods (+37 percent), gems & jewellery (+16 percent) and organic & inorganic chemicals (+26 percent).

"The enthusiasm with which the Exim community has impressively performed during the year has further given a boost to the sector, thereby helping the economy further move towards recovery," said Dr A Shaktivel, president, Federation of Indian Export Organisations (FIEO). "The forecast of growth in the economy along with the recent GDP numbers also showcases the positive impact of exports."

The FIEO president added that though the government has announced a slew of measures to support exports, the need of the hour is to soon announce extension of the interest equalisation scheme and allow transfer of MEIS and expand usage of RoDTEP and RoSCTL scrips. "Some of the other major issues which requires the attention of the government are necessary steps with an option to support the sector in case of spread of new variant of Covid-19, encouragement to overseas marketing for exports, fiscal and tax support to address logistics challenges and developing an Indian shipping line of global repute."

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