India’s exports Registering upward Movement

at 5:23 pm
Union Textiles Minister Piyush Goyal (file pic)

New Delhi: India has been seeing consistent growth in exports. Its merchandise export in January 2022 increased by 23.69% to USD 34.06 billion over USD 27.54 billion in January 2021; recording an increase of 31.75% over USD 25.85 billion in January 2020.

India’s merchandise export in 2021-22 (April-January) rose by 46.53% to USD 335.44 billion over USD 228.9 billion in 2020-21 (April-January); marking an increase of 27.0% over USD 264.13 billion in 2019-20 (April-January).

The government has been taking up a number of proactive steps to boost exports, official release said.

An export monitoring desk has been set up to help remove impediments, constraints and bottlenecks faced by the export sector, especially during the pandemic.

Various Acts under the Department of Commerce are being reviewed to remove redundancies and outdated provisions.

Several bilateral trade agreements are being pursued with great vigour. The government is committed towards developing each district in India as an export hub through initiatives such as One District One Product (ODOP).

Innovative measures such as use of payload carrying drones to address first and last mile connectivity issues are being taken.