Dr Sakthivel sees higher growth in exports during financial year
After a record performance in the last financial year, the exports continued robust growth in April 2022, with merchandise shipments crossing US$40 billion, an increase by over 30% vis-à-vis April 2021.
Petroleum products (127.69%), Electronic goods (71.69%), cereals (60.83%), coffee (59.38%), processed food (38.82%) and leather product (36.68%) exports led the way in achieving the record performance. Services performed extremely well to reach US$27.60 billion, which is an increase of 53% over April 2021.
India’s overall exports (Merchandise and Services combined) in April 2022 are estimated to be US$67.79 billion, exhibiting a positive growth of 38.90% over the same period last year.
Overall imports in April 2022 are estimated to be US$ 75.87 billion, a growth of 36.31% on the same period a year ago.
FIEO President Dr A Sakthivel said on 13 May 2022 that the highest-ever exports of over US$40 billion in April shows the continuous impressive performance of the exports sector.
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 Sakthivel.
Top sectors during the month were Petroleum Products, Engineering Goods, Electronic Goods, Organic & Inorganic Chemicals, RMG of all Textiles, Drugs & Pharmaceuticals, Mica, Coal & Other Ores, Minerals including processed minerals, Cotton Yarn, Fabrics, Made-ups, Handloom Products etc., Gems & Jewellery, Marine Products 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, “The benefits of the newly signed FTAs and the PLI Schemes will further help us in building on the milestones achieved during the previous fiscal.” fiinews.com
