India’s merchandise exports rise to over $30 billion in April
14 May 2021 A mobile crane carries a container at Thar Dry Port in Sanand in Gujarat. Reuters The low base effect powered India’s merchandise exports to grow by over 195 per cent on year-on-year basis last month. In April 2021, exports grew to $30.63 billion, higher by 195.72 per cent over the $10.36 billion reported in April 2020.
“As compared to April 2019, exports in April 2021 exhibited a positive growth of 17.62 per cent in dollar terms and 26.17 per cent in rupee terms,” an official statement on foreign trade said.
“Non-petroleum and non-gems and jewellery exports in April 2021 were $23.62 billion, as compared to $9.08 billion in April 2020, registering a positive growth of 160.24 per cent.” As compared to April 2019, the non-petroleum and non-gems and jewellery exports in April 2021 registered a positive growth of 20.47 per cent.
Rupee may rise after a blip
BL Research Bureau
Riding on a weak dollar (USD), the rupee (INR) appreciated in the past week and on Wednesday, it closed at 73.42. Thus, the year-to-date loss of INR against USD now stands at about half a percent. While foreign inflows worked out for the local currency, persisting weakness in dollar also helped rupee fare better against the greenback. Last session, inflation data were released in India and the US and this can have an impact on the exchange rate of USDINR. Let us take a look at the latest numbers and its impact on the exchange rate.
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Lower food prices sequentially eased India s retail inflation in April as the Consumer Price Index (CPI) decreased to 4.29 per cent from 5.52 per cent in March.
According to the data furnished by the National Statistical Office (NSO), the CPI Urban rose by 4.77 per cent last month from 6.52 per cent in March.
Similarly, the CPI Rural climbed by 3.82 per cent in April from 4.61 per cent in March.
As per the NSO data, the Consumer Food Price Index increased to 2.02 per cent last month from a rise of 4.87 per cent in March.
In terms of CPI YoY inflation rate, pulses and products prices jumped by 7.51 per cent, respectively, in April 2021.
Lower food prices sequentially eased India s retail inflation in April as the Consumer Price Index (CPI) decreased to 4.29 per cent from 5.52 per cent in March.According to the data furnished by the National Statistical Office (NSO), the CPI .