Exports

Even as sowing of the grain in India this year is estimated to be 17 per cent lower due to inadequate rains in states such as Bihar and Orissa, analysts said that there is no cause for any worry as the country is sitting on adequate stocks from last year. However they maintained that New Delhi must refrain from taking any "sudden decisions."

Sugar production in 2018-19 was 332 lakh metric tonnes (LMT) after discounting diversion of 3 LMT for ethanol; in 2019-20, it was 274 LMT (after discounting diversion of 9 LMT for ethanol); in 2020-21, the production increased to 310 LMT (after discounting diversion of 22 LMT for ethanol) and for 2021-22, it is 335 LMT (after discounting diversion of 35 LMT for ethanol).

"The current business environment, bolstered by the launch of the government of India's 'Atmanirbhar' movement and 'Vocal for Local' initiative gives an impetus to the plastics industry to grow and provides excellent export opportunities. We are expecting that the exports would reach $25 billion by 2025," he said at an event for unveiling the logo, brochure and the goals of PLASTINDIA 2023 to be held in February 2023 here.

The exports achieved in 2021-22 is the Pharma Sector's best export performance ever and is a remarkable growth with exports growing by almost USD 10 billion in eight years, said Ministry of Commerce & Industry in a statement on Sunday. Highlighting the achievement in a tweet, the Union Minister of Commerce and Industry Piyush Goyal said: "India's booming drugs & pharmaceuticals exports more than double in 2021-22 compared to 2013-14. Under the active leadership of PM @NarendraModi ji, India is serving as 'Pharmacy of the World".

As per the data from Director General of Commercial Intelligence and Statistics (DGCIS), Kolkata, India exported non-basmati rice worth $2,015 million in 2019-20, which rose to $4,799 million in 2020-21 and $6,115 million in 2021-22. India exported rice to over 150 countries in 2021-22, of which 76 countries were sent non-basmati rice worth more than $1 million in 2021-22, indicating the diversification of rice export basket over the years, the government officials said.

Exports during March 2021 stood at $35.26 billion. "Non-petroleum and non-gems & jewellery exports in March 2022 were $30.67 billion, registering a positive growth of 9.4 per cent over non-petroleum and non-gems & jewellery exports of $28.03 billion in March 2021 and a positive growth of 80.90 per cent over non-petroleum and non-gems & jewellery exports of $16.95 billion in March 2020," the Union Ministry of Commerce and Industry said.

As per the provisional figures released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S), agri exports grew by 19.92 per cent in 2021-22 to touch $50.21 billion. "The growth rate is remarkable as it is over and above the growth of 17.66 per cent at $41.87 billion achieved in 2020-21, and it has been achieved in spite of unprecedented logistical challenges in the form of high freight rates, container shortages etc.," the Ministry said.

Addressing a media briefing here, Goyal said that during 2021-22, $30 billion export was recorded on a monthly basis, and this was despite the second and third wave of Coronavirus pandemic hitting the country hard. The engineering goods exports hit a record $111 billion, of which about $16 billion worth goods were shipped to the U.S. alone.

Shanmugham, who is himself exporting to Europe, said that the market was slowly recovering from the Covid-19 crisis and they hope that the war will be over and prices of raw cotton will come down so that the industry gets back to normal providing employment to 6 lakh labourers and earning huge foreign exchange for the country.

In his monthly radio address 'Mann ki Baat', he said the export target also signified that the demand for items made in India has been increasing all over the world and the supply chain is getting stronger by the day. "The nation takes great strides when resolutions are bigger than dreams. When there is a sincere effort day and night for the resolutions, those resolutions also attain fruition," Modi said.