The country’s exports grew 6.16 percent to $ 27.45 billion in January this year. According to the Commerce Ministry data, imports also grew by 2 percent to $ 42 billion in the month under review. This resulted in a trade deficit of $ 14.54 billion in January. Exports during April-January declined by 13.58 percent to $ 228.25 billion in the current financial year. Imports also declined by 25.92 percent to $ 300.26 billion.
According to the data, imports also increased by 2 per cent to reach $ 42 billion in January. The country’s trade deficit declined to $ 14.54 billion during the month, from $ 15.3 billion in January 2020. Exports declined by 13.58 per cent to $ 228.25 billion during April-January in FY 2020-21. Imports during this period fell by 25.92 per cent to $ 300.26 billion.
According to export figures in these sectors, pharmaceutical exports grew by 16.4 percent ($ 2 billion) and engineering by 19 percent ($ 7.4 billion). Other sectors like oil meal, aryan, tobacco, rice, fruits and vegetables, carpets, handicrafts, spices, tea, cashew, plastic and chemical also saw growth in exports. There was negative growth in exports of petroleum products (-32 per cent), ready-made clothes (-10.73 per cent) and leather (-18.6 per cent).
Gold imports increased:
Gold imports jumped nearly 155 percent to reach $ 4 billion in January this year. Apart from this, imports of pulses, pearls, precious and semi-precious stones, chemical, machine tools etc. have increased. In this regard, Federation of India Export Organizations (FIEO) President SK Sarf said that there has been negative growth in exports of large products including petroleum products, leather, meat, dairy products, gems and jewelery.