SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 05 Jul, 2022  

Exports.9.Thmb.jpg Exports growth

Exports.9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
Bikky Khosla | 05 Jul, 2022

India's merchandise exports rose by 16.78% to $37.94 billion in June, while exports during the first quarter of 2022-23 is up over 22 percent to $116.77 billion, the highest ever exports during the first quarter. These figures are encouraging, particularly in the background of the ongoing geo-political tensions and rising global uncertainties. It is difficult to say how long this situation will persist and what will unfold in the coming days.

A deeper look into the June export figures show that non-petroleum exports amounted to $30.12 billion in June, registering 5.53% year-on-year growth against $28.54 billion in June 2021. For the first quarter, non-petroleum exports amounted to $92.49 billion, registering 11.92% growth. On the other hand, non-petroleum and non-gems and jewellery exports rose 4% in June and 12.19 in April-June.

Among the top ten product categories, engineering goods exports registered 1.57 negative growth to $9.14 billion against $9.29 billion in June 2021. Drugs and pharmaceuticals exports fell 1.27% to $1.99 billion while exports of Yarn/Fabs./Madeups, Handloom products etc. fell 22.54%. These sectors need to be taken care of urgently. It is also a concern that total imports in June rose by a whopping 51.02% to $63.58 billion, resulting to trade deficit of $25.63 billion.

Meanwhile, India's marine product exports reach an all-time high of $ 7.76 billion in FY 2021-22, and it is interesting again that the sector managed to export 13,69,264 MT of seafood during a period while its major export markets were facing tough challenges due to the Covid pandemic. It is noteworthy that India has set aims to double marine export to Rs 1 lakh crore in next 5 years, but this will require a concentrated effort by the government.

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 13 Aug, 2022
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter