Exports
India's merchandise exports to touch $98 bn during Q2 of FY22
The rise in India's exports could be attributed largely to the low base effect, pick-up in growth in advanced economies and the resultant increase in global import demand, India Exim Bank said. Increase in commodity prices have also contributed to the increase in India's exports. Forecast of growth in India's total merchandise exports and non-oil exports are released by India Exim Bank on a quarterly basis.
Centre to release over Rs 56k cr as dues for all pending export incentives
The amount includes claims relating to schemes such as MEIS, SEIS, RoSL, RoSCTL amongst others relating to earlier policies and the remission support for RoDTEP and RoSCTL for exports made in the fourth quarter of FY21. In a statement, the Commerce & Industry Ministry said the benefits would be disbursed to more than 45,000 exporters, out of which about 98 per cent are small exporters.
India's August exports rise over 45%, imports by over 51%
Exports in August 2020 stood at $22.83 billion. Besides, the data furnished by the Ministry of Commerce and Industry showed that in comparison to August 2019, last month's exports rose by 27.5 per cent. "Value of non-petroleum exports in August 2021 was $28.58 billion, registering a positive growth of 36.57 per cent over non-petroleum exports of $20.93 billion in August 2020 and a positive growth of 25.44 per cent over non-petroleum exports of $22.78 billion in August 2019.
India's mobile phone exports log over 3-fold growth in April-June
Mobile phone exports for the first quarter of 2021-22 was valued at Rs 4,600 crore compared to Rs 1,300 crore in 2020-21. The massive year-on-year growth in exports can also be attributed to the impact of the first wave of Covid-19 and the nation-wide lockdown during the corresponding period last year. Electronic goods export has also shown a tremendous rise of 100 per cent (YoY) in Q1 2021-22.
India's Q1FY22 agri, processed food products exports up 44.3%
According the Directorate General of Commercial Intelligence and Statistics (DGCI&S), the overall export of APEDA products has witnessed 44.3 per cent growth during April-June 2021 over the same period of previous year. The overall export of APEDA products increased from $3,338.5 million in April-June 2020 to $4,817.9 million in April-June 2021.
Target $2 trillion exports by 2030, says Goyal
In a meeting, Goyal asked the export community to target $2 trillion exports by 2030, comprising $1 trillion merchandise and $1 trillion services exports. He announced two separate divisions that are being set up in the Commerce Ministry are focused on the services sector in order to attain the $1 trillion services export target. Goyal urged all export promotion councils to take immediate and effective steps.
India's July exports rise by 50% YoY
Exports during July 2020 stood at $23.64 billion. The data by the Ministry of Commerce and Industry also showed that in comparison to July 2019, last month's exports rose by 35.05 per cent. "Exports in July 2021 were $35.43 billion, as compared to $23.64 billion in July 2020, exhibiting a positive growth of 49.85 per cent. As compared to July 2019, exports in July 2021 exhibited a positive growth."
'Favourable global outlook to accelerate India's export growth'
Ind-Ra said that India's exports, which have been languishing for quite some time, can take advantage of the favourable trade growth outlook of 2021 and consolidate its position further than what has been witnessed in Q1FY22. "In YoY growth terms, India's exports grew 60.29 per cent, 195.72 per cent, 69.35 per cent and 48.35 per cent in the months of March, April, May and June 2021, respectively.
India's June YoY engineering goods exports rises by 52.4%
Engineering exports, which rose to $6.27 billion in June 2019, and $5.84 billion in June 2020, rose to $8.90 billion in June 2021. "Cumulative engineering exports during April-June 2021-22 were to the tune of $24,772.6 million, witnessing a massive growth of 82 per cent vis-a-vis April-June 2020-21, and growth of 24.8 per cent vis-a-vis April-June 2019-20," an official statement said.
India's June merchandise exports surge over 48%
Similarly, exports last month recorded a growth of 29.85 per cent growth over the June 2019 mark of $25.03 billion. The country's merchandise exports in May 2021 had risen to $32.27 billion. As per the data, the value of non-petroleum and non-gems and jewellery exports in June 2021 was $25.65 billion, as compared to $18.48 billion during the corresponding month of 2020, registering a positive growth of 38.84 per cent.
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