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Last updated: 19 Jul, 2021  

Exports.9.Thmb.jpg Exports revival not far-off

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Bikky Khosla | 19 Jul, 2021

Merchandise exports In June, 2021 rose to $32.50 billion, 48.34 percent higher than $21.91 billion recorded in June 2020, and 29.85 percent higher than the June 2019 mark of $25.03 billion. These monthly figures are encouraging. Such a growth pattern clearly reflects the strength of the Indian exports sector, and with global demand increasing amid easing Covid curbs across the globe, it seems brighter days are ahead for the sector.

Exports had grown to $30.63 billion in April and further to $32.27 billion in May this year, and with the robust growth registered in June, India has now achieved the highest-ever quarterly growth in exports by more than 85 percent with $95 billion over FY 2020-21 and by about 18 percent over FY 2019-20. This trend inspires optimism, again. It seems overall economic recovery will be led by exports in the coming months.

Meanwhile, a deeper look into the first quarter exports figures shows that ten sectors, including engineering goods, handloom, electronic goods, marine products, cotton products, drugs & pharmaceuticals, etc. performed impressively. These are labour-intensive and employment generating sectors, and this is, no doubt, good news for the overall economy. It is also noteworthy that majority of these sectors are highly populated by MSME exporters.

Meanwhile, recently we have seen several small but positive developments in the sector. For example, in a first, a commercial shipment of Mishri variety of Kashmiri cherries was exported to Dubai. Similarly, in an initiative to boost mango export potential from the eastern region especially to Middle East countries, APEDA exported a consignment of GI certified Fazil mango to Bahrain. Such product and market diversification initiatives are really praiseworthy.

I invite your opinions.

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