India’s exports rose 18.8% to US$ 20.01 billion during the three week period of this month (November 1-21), owing to strong growth in sectors such as petroleum products, engineering goods, chemicals and gems and jewellery, according to the preliminary data of the commerce ministry.
Imports during the period soared 45.34% to US$ 35.11 billion as against US$ 24.15 billion during the corresponding period last year, the data indicated.
The exports are expanding at a healthy rate and are likely to cross US$ 400 billion by the end of the current fiscal.
In October, the outbound shipments leapt 43% to US$ 35.65 billion, while the trade deficit widened to US$ 19.73 billion during the month.
Export sectors that are logging optimistic growth incessantly include petroleum, coffee, engineering goods, cotton yarn/fabrics/made-ups, gems and jewellery, chemicals plastic and linoleum and marine products.
Cumulatively exports during April-October 2021 stood at US$ 233.54 billion, which is a growth of 55.13% compared to the same period last year. In the same period, imports soared 78.16% to US$ 331.39 billion, setting a trade deficit of US$ 97.85 billion.
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