The country’s merchandise exports are expected to reach a record high of 400 400 billion in the current financial year on the back of steady growth in export orders. Commerce and Industry Minister Piyush Goyal said exports rose 50.71 per cent to 26 262.46 billion during April-November. Exports were 174.15 billion in the same period last year. Exports have crossed the 30 billion mark in the last eight months.
Exports have reached 26 262 billion in the first nine months of this year as against 26 262 billion in the same period last year. We expect record exports of 400 billion. At the CII Partnership Summit-2021, Goyal said that the country’s exports have been steadily increasing. Business with other countries is constantly expanding. During April-November, imports rose 75.39 per cent to 38 384.44 billion. Recovery has accelerated in areas including industry, manufacturing sector, agriculture, technology.
Referring to the Covid-19, Goyal said India has done its best to meet all international commitments. Vaccines and medical supplies have increased in other countries. Self-reliant India Mission will increase the country’s exports. The central government is constantly revising the rules for the economic benefit of exporters.
Improvements for investment from other countries Investments in
India have been welcomed from all over the world. Rules have been relaxed to welcome foreign investors. Overseas investment has been steadily rising in the wake of rapid economic recovery in the short term. We strive to promote partnerships with other countries in six areas, including trade agreements, investments, and the Ease of Doing Business, in order to establish a sustainable and strong ecosystem.
Exports up 27.16 per
cent in November The country’s merchandise exports rose 27.16 per cent to 30 30.4 billion in November. Exports stood at .6 23.62 billion last year. Imports stood at .9 52.94 billion. That’s up 56.58 percent from 33.81 billion last year. The trade deficit widened to .9 22.91 billion in November from 10. 10.19 billion a year earlier. Overall, the country’s total exports were expected to reach 50 50.36 billion in November.
Auto exports up 62 per cent: Exports to the auto industry rose 62 per cent to 36,91,583 units in November amid challenges such as shortage of chips, rising commodity and fuel prices as well as shortage of supply against rising consumer demand. Sales of passenger vehicles rose by 58 per cent, two-wheelers by 64 per cent and three-wheelers by 47 per cent. Domestic sales of vehicles, including two-wheelers and three-wheelers, fell 32 percent in November.