Indian commerce ministry official says exports going strong

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Despite global trade taking a hit during the COVID-19 pandemic, India’s exports witnessed a turnaround after December 2020 and are still going strong, according to Amitabh Kumar, joint secretary in the department of commerce under the commerce ministry. He was addressing a pre-summit event organised by the Gujarat state as part of the upcoming Vibrant Gujarat Global Summit.

The summit is scheduled to be held in Gandhinagar next month. The theme of this event was ‘Local Goes Global—Export Led Growth’.

As India’s share in global exports is now 1.6 per cent, Kumar stressed on the need to raise that percentage and highlighted the need to change the duty structure for some goods.

Despite global trade taking a hit during the pandemic, India’s exports saw a turnaround after December 2020 and are still going strong, Amitabh Kumar, joint secretary in the department of commerce under the commerce ministry, said while addressing a pre-summit event organised by Gujarat government as part of the upcoming Vibrant Gujarat Global Summit.

“In so far as the merchandise trade performance is concerned, the government is closely monitoring and pushing hard for a target-driven merchandise export performance of $400 billion in the current fiscal by engaging with all stakeholders across states and reaching the districts,” he was quoted as saying by a news agency.

“Export growth has been robust in 2021-22. Merchandise exports remained above US dollars 30 billion for seven consecutive months during April to October, and October in particular was an unusually high export performance period with the highest ever merchandise exports being recorded at $35.65 billion,” Kumar said.

The total merchandise export during April to November 2021 was valued at $262.5 billion, a growth of 50.7 per cent as compared to $174.16 billion in April to November 2020-21, he added.

Fibre2Fashion News Desk (DS)





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