SME Times is powered by   
Search News
Just in:   • Modi at UNGA: 10 highlights of India's solutions at 'unparalleled' scale  • Import duty norm relaxed to improve containers availability  • Premium valuations biggest risk to market rally  • Big relief for service sector with SEIS release: FIEO  • Rs 300cr undisclosed income detected by I-T at financing syndicates 
Last updated: 15 Aug, 2021  

Exports.9.Thmb.jpg Fast-rebounding exports

Exports.9.jpg
   Top Stories
» Import duty norm relaxed to improve containers availability
» Big relief for service sector with SEIS release: FIEO
» Semiconductor shortage to further impact PV sales in Sep
» Centre to bring new cooperative policy soon: Amit Shah
» Make SEEPZ a world-class facility, says Piyush Goyal
Bikky Khosla | 15 Aug, 2021

Merchandise exports rose to $35.43 billion last month. This growth is 49.85 percent higher than $23.64 billion worth of exports registered in July, 2020 and 35.05 percent higher than exports registered in July, 2019. This is also the highest-ever exports recorded at least in the previous 9 years and, no doubt, recovery in key global markets played a key role in this growth. This development is welcome.

A deeper look into the last month exports data shows that while growth was led by higher demand for labour-intensive sectors like engineering goods, gems and jewellery, textiles and apparels and chemicals and electronic goods, it is also noteworthy that exports of non-petroleum and non-gems and jewellery in July 2021 grew 28.18 percent y-o-y to $26.12 billion. This figure is 32.3 percent higher than the pre-Covid level (July 2019).

Meanwhile, it is good to see that the government has continued to push exports of agricultural and processed food from regions which were not earlier part of our export map. Recently, a consignment of dehydrated Mohua flower was exported to France from Chhattisgarh. Similarly, a consignment of processed Himalayan Goat meat sourced from villages of Uttarakhand hills was exported to Dubai.

Complacency can a problem, however, and at this moment the Centre should instead focus on addressing some major challenges being faced by the sector. One such major issue is delay in notification of the RoDTEP rates due to which exporters are losing out on huge orders. Similarly, the sector is also demanding release of the necessary funds for MEIS and clarity on SEIS benefits. These issues need to be resolved urgently.

I invite your opinions.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 26 Sep, 2021
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» Rajasthan the most unemployed state after Haryana(1)
» Credit monitoring cell to monitor MSME loans(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter