Synopsis
Major export commodities which have recorded positive growth in April include gems and jewellery, jute, carpet, handicrafts, leather, electronic goods, oil meals, cashew, engineering, petroleum products, marine products and chemicals.
Last year India was under a strict national lockdown to curb the spread of the coronavirus, leading to a significant reduction in international trade volumes.
Led by a sharp growth in exports of gems and jewellery, engineering goods and petroleum products, and supported by base effect India’s outbound goods shipments in April rose a record 197.03% to $30.21 billion. Exports had contracted a sharp 60.28% in April last year due to the national lockdown and halt in manufacturing to curb the spread of the Covid-19 pandemic.
Synopsis
Major export commodities which have recorded positive growth in April include gems and jewellery, jute, carpet, handicrafts, leather, electronic goods, oil meals, cashew, engineering, petroleum products, marine products and chemicals.
Last year India was under a strict national lockdown to curb the spread of the coronavirus, leading to a significant reduction in international trade volumes.
India s exports in April jumped nearly three-folds to USD 30.21 billion from USD 10.17 billion in the same month last year, according to commerce ministry s preliminary data released on Sunday.
Imports too rose to USD 45.45 billion last month as against USD 17.09 billion in April 2020. India is thus a net importer in April with a trade deficit of USD 15.24 billion, which increased by 120.34 per cent over the trade deficit of USD 6.92 billion in April 2020, the ministry said in a statement.
Indias exports jump in March 2021: Exports rose in March but contracted in fiscal 2020-21
India s exports jumped by 60.29 per cent to $34.45 billion in March but at the same time they witnessed a contraction by 7.26 per cent during the FY21 fiscal, recording $290.63 billion. Imports also grew by 53.74 per cent to $48.38 billion in March, but dipped by 18 per cent to $389.18 billion during 2020-21, according to the data released on Thursday by the Ministry of Commerce.
Trade deficit during March 2021 widened to $13.93 billion from $9.98 billion in March 2020. The trade deficit during FY21 though, narrowed to $98.56 billion as against $161.35 billion during 2019-20, according to the data.
March gold imports go up 471% to record 160 tonnes as price correction draws buyers
India s gold imports in April could fall below 100 tonnes as jewellers fear government could impose lockdown to arrest rising coronavirus infections, the dealer said
Reuters | April 2, 2021 | Updated 09:47 IST
India s gold imports in March surged 471% from a year earlier to a record 160 tonnes, a government source told Reuters on Thursday, as a reduction in import taxes and a correction in prices from record highs drew retail buyers and jewellers. Higher imports by the world s second-biggest bullion consumer could support benchmark gold prices, which have corrected nearly 17% from an all-time high of $2,072 in August 2020.