India’s exports jumped almost three-fold to USD 30.21 billion in April from USD 10.17 billion in the identical month final 12 months, in line with commerce ministry’s preliminary knowledge launched on Sunday. Imports too rose to USD 45.45 billion final month as towards USD 17.09 billion in April 2020.
“India is thus a web importer in April with a commerce deficit of USD 15.24 billion, which elevated by 120.34 per cent over the commerce deficit of USD 6.92 billion in April 2020,” the ministry mentioned in an announcement.
Because of the Covid-19 pandemic induced lockdown final 12 months, exports shrank by a report 60.28 per cent in April 2020. In March this 12 months, exports grew by 60.29 per cent to USD 34.45 billion.
In April 2021, oil imports stood at USD 10.eight billion in comparison with USD 4.65 billion within the corresponding month final 12 months.
Main export commodities which have recorded constructive progress in April embrace gems and jewelry, jute, carpet, handicrafts, leather-based, digital items, oil meals, cashew, engineering, petroleum merchandise, marine merchandise and chemical compounds.