Dr Sakthivel applauds exporters’ outstanding accomplishments
India has achieved monthly value of merchandise export in April 2022 amounting US$38.19 billion, an increase of 24.22% over US$30.75 billion in April 2021. Value of non-petroleum exports in April 2022 was US$30.46 billion, registering a positive growth of 12.32% over non-petroleum exports of US$27.12 billion in April 2021.
Reacting to the April 2022 Trade Data announced on 3 May 2022, FIEO President, Dr A Sakthivel said that the highest-ever exports, during the first month of the fiscal, shows the continuous impressive performance of the exports sector.
The outstanding accomplishments of the exporters have consistently not only helped the economy to reap rich dividends but will also support our endeavour to become a US$5 trillion economy by 2025.
Starting the fiscal with such an impressive beginning will further add to the motivation of the exporting community for much higher growth during the financial year, said Dr A Sakthivel.
He noted that the top sectors, which has performed impressively during the month were Engineering Goods, Petroleum Products, Organic & Inorganic Chemicals, Drugs & Pharmaceuticals, Electronic Goods, RMG of all Textiles, Cotton Yarn/Fabrics/Made-ups, Handloom Products etc. and Plastic & Linoleum. Labour-intensive sectors also contributed to the exports basket, which itself is a good sign, further helping job creation in the country.
FIEO Chief also reiterated that the benefits of the newly signed FTAs and the PLI Scheme will further help us in building on the milestones achieved during the previous fiscal.
He is also of the view that though the government has announced a slew of measures to support exports including the recent announcement of the extension of the interest equalisation scheme, extension of the FTP 2015-20 by another 6 months and extension of time for filing of MEIS/RoSCTL/ROSL scrip, however, there is a need to increase the validity of RoSCTL and RoDTEP scrips to 24 months and link transferability with realisation, extend RoDTEP to EOUs, SEZ and Advance Authorisation, expand usages of RoDTEP and RoSCTL scrips and logistics support for the sector looking at the freight cost.
Value of non-petroleum and non-gems and jewellery exports in April 2022 was US$27.16 billion, registering a positive growth of 14.38% over non-petroleum and non-gems and jewellery exports of US$23.74 billion in April 2021. Fiinews.com
