SME Times is powered by   
Search News
Just in:   • Equity indices break two-day losing streak on value buying  • IMF urges Sri Lanka to tighten monetary policy  • Global semiconductor sales to reach $676 bn this year: Gartner  • Tinna Rubber hits upper circuit, investors accumulate 900% returns in year  • Availability of jobs in Japan improves for 1st time in 3 yrs 
Last updated: 05 Apr, 2022  

Exports.9.Thmb.jpg Record-high exports

exports-new012010.jpg
   Top Stories
» Net direct tax collection reaches highest-ever figure in FY 22
» Musk has to manufacture here to sell Tesla cars in India: Gadkari
» Round tripping of industrial inputs by large players unfavourable to local value chains
» Sitharaman engages investors in Silicon Valley
» Modi hails India's success in achieving target of $400 billion of exports
Bikky Khosla | 05 Apr, 2022

India achieved an all-time high annual merchandise exports of $417.81 billion in FY 2021-22, an increase of 43.18% over $291.81 billion in FY2020-21 and an increase of 33.33% over $313.36 billion in FY2019-20. In March 2022, for the first time, monthly exports exceeded $40 Billion, reaching $40.38 billion, an increase of 14.53% over $35.26 billion in March 2021 and an increase of 87.89% over $21.49 billion in March 2020. These figures are encouraging.

Imports increased as well, however. Imports in April 2021-March 2022 was $610.22 billion, an increase of 54.71% over $394.44 billion in FY2020-2021 and an increase of 28.55% over $474.71 billion in FY2019-2020. As a result, trade deficit for the period stood at $192.41 billion. Value of non-petroleum imports in April 2021-March 2022 was $449.54 billion, showing an increase of 44.2% compared to non-oil imports of $311.75 billion in FY20-21.

It is encouraging that labour-intensive sectors like engineering goods, gems & jewellery, electronic goods, handloom products, jute products, etc. performed well during the period as these sectors are labour-intensive with higher employment generation prowess. Also, India’s increasing exports to developed economies including US, UK, Germany, Singapore, etc. indicates increasing strength of manufacturing in exports.

Meanwhile, manufacturing sector growth slowed last month due to softer rise in demand. The latest results showed slower expansions in factory orders and production as well as a renewed decline in new export orders. Besides, it cited that price indices increased since February to signal mounting pressures. Amid this inflationary pressure, it can be expected that the RBI will retain its key lending rates during the upcoming monetary policy review.

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 27 Apr, 2022
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter