New Delhi: State exports rose 47.34 percent to $ 32.46 billion in June due to healthy growth in sectors such as techniques, gems and jewelry and petroleum products, even as a trade deficit collected at $ 9.4 billion during This month, according to data was released by the Ministry of Commerce on Friday.
Exports in June last year reached $ 22 billion and $ 25 billion in June 2019.
In May 2021, the outside delivery was worth $ 32.27 billion, while in April this year, it was $ 31 billion.
Imports in June 202 grew by 96.33 percent to $ 41.86 billion, from $ 21.32 billion in June last year.
In June 2019, imports reached $ 41 billion.
“Thus India was a net importer in June 2021 with a $ 9.4 billion trade deficit, widened by 1,426.6 percent over a trade surplus of $ 0.71 billion in June 2020 (India was a net exporter in June 2020) and narrowed with 41, 26 percent of the $ 16 billion deficit trade in June 2019, “said the ministry in a statement.
Exports during the April-June quarter this year jumped to $ 95.36 billion by opposing $ 51.44 billion in the same period last year.
“Exports during the April-June period is the highest exports of merchandise in a quarter in Indian history,” said Minister of Trade and Industry Piysih goyah giving media direction here.
Merchandise exports recorded $ 82 billion during April-June 2018-19 and $ 90 billion during the last quarter of 2020-21, he said.
He also said the ministry would work with all stakeholders concerned to achieve the export target of $ 400 billion in this fiscal year.
Imports during April-June 2021 were at $ 126.14 billion, increased from $ 60.65 billion in three months according to last year.
Oil imports in June this year rose to $ 10.68 billion, compared with $ 4.97 billion in June 2020.
“Oil imports during April-June 2021 were $ 31 billion, positive growth of 136.36 percent compared to $ 13, 12 billion in April-June 2020 and A negative growth of 12.33 percent compared to $ 35.36 billion in April-June 2019, “he said.
Exports of engineering, petroleum and pharma products during the first three fiscal months reached $ 25.9 billion, each $ 12.9 billion and $ 5.8 billion.
Goyal also said that the simplification of procedures, scheduled expansion and licenses produce export performance records.
In export services, he expressed confidence that exports would touch $ 350 billion in 2025, and even rising up to $ 500 billion soon.
Regarding the forgiveness of duties and taxes on export products (Rodtep), the minister said it was at the very sophisticated inter-ministerial discussion stage.
“It is a colossal task, there are around 11,000 items that need to be learned …
We will immediately notify the tariff.
We will immediately come out with more details for various sectors.
This is not a subsidy for any exporter, this is only a tax refund,” he added , In the Foolign trade policy, he said the service was working on it and strives to see what new elements can be added in time to increase foreign trade.
“Hopefully, we will come out in October,” he added.
Exports grew 47% in June; Trade deficit with $ 9.4 billion
