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 keeping with commerce ministry’s preliminary information 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 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 mentioned in a press release.
Due to the Covid-19 pandemic induced lockdown final 12 months, exports shrank by a file 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.
Major export commodities which have recorded optimistic development in April embody gems and jewelry, jute, carpet, handicrafts, leather-based, digital items, oil meals, cashew, engineering, petroleum merchandise, marine merchandise and chemical compounds.