Exports

India has achieved the $400 billion merchandise exports target well before the set deadline, said Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Piyush Goyal on Wednesday. The merchandise exports from India crossed the $400 billion-mark in the current financial year, that too 9 days ahead of schedule. The previous record high for exports stood at $330 billion achieved in 2018-19.

Exports during last month rose to $34.57 billion from $27.63 billion reported in February 2021.The data, furnished by the Commerce and Industry Ministry, showed that last month's exports rose by 24.60 per cent over February 2020.

On the one hand, G7, EU and other organisations are calling for guarding against export restrictions in wake of the Ukraine-Russia war for stabilising food prices and on the other hand, environmental activists view the situation as an opportunity to reduce or end commercial agriculture for export that can harm environment and hardly adds to food security.

Geopolitical risks emanating from the Russia-Ukraine conflict is expected to push India's import bill higher. Consequently, the trend will widen the country's Current Account Deficit. The crisis is expected to increase prices of mineral fuels and oils, gems and jewellery, edible oils and fertilisers. At present, India has a significant import dependence for these items.

"The country's textile exports can increase from the current $40 billion to $100 billion in the next five years," he said in his address at the 44th Foundation Day of Apparel Export Promotion Council (AEPC). Singh said that the Indian apparel industry must focus on vertical integration to increase its scale and size and to benefit from the Production Linked Incentive (PLI) scheme.

Despite the pandemic, India's organic exports grew 51 per cent over 2019-20 levels, government officials said on Monday, adding it envisages targeting 10 per cent export share in the global fruits and vegetable market by 2030. About the export potential of organic and horticulture produce in India, Joint Secretary, Agriculture and Farmers Welfare, Priya Ranjan said: "India's organic exports stood at 8,88,180 metric tonnes in 2020-21."

The exports during January 2021 stood at $27.54 billion. The data by the Ministry of Commerce and Industry showed that in comparison to January 2020, last month's exports rose by 33.45 per cent.

The exports during January 2021 stood at $27.54 billion. The data by the Ministry of Commerce and Industry showed that in comparison to January 2020, last month's exports rose by 33.45 percent.

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Exports in January 2021 stood at $27.54 billion. According to the data furnished by the Commerce and Industry Ministry, last month's exports rose by 31.75 per cent over January 2020."Value of non-petroleum exports in January 2022 was $30.33 billion, registering a positive growth of 19.4 per cent over non-petroleum exports of $25.4 billion in January 2021 and positive growth of 33.81% over non-petroleum exports of $22.67 billion in January 2020," the ministry said.