Continued growth observed in merchandise exports

A 14.7% increase to US$ 11.65 billion in exports of agricultural and processed food products was observed during the April-October period.

December 2, 2021

During the first seven months of the current fiscal, rice exports rose to US$ 5.28 billion.

Exports of fruits and vegetables rose to US$ 1.53 billion during the same period.

The period also saw an increase in outbound shipments of meat, dairy and poultry products.

Factors such as promotion of geographical indications (GI) tag goods, virtual buyer seller meets, recognition of testing labs contributed to this growth.

India’s merchandise exports rose for the twelfth consecutive month in November and grew by 26.49% year-on-year to US$ 29.88 billion. Engineering goods, petroleum products, plastics and cotton yarn led the growth. Non-petroleum exports in November amounted to $26.06 billion, recording a growth of 18.1% over the same period in 2020 and a growth of 18.69% at $21.95 billion in November 2019, according to data released by the commerce and industry ministry in a statement. A sequential decline was, however, noted in exports at 16% to US$ 29.88 billion from US$ 35.65 billion, during the same month. A 57.18% rise in imports leaving an all-time trade deficit of US$ 23.27 billion from November 2020’s US$ 10.19 billion was observed in the official data released on December 1. Exports rose by 50.71% at $262.46 billion while imports rose 75.39% at $384.44 billion during the first eight months of the fiscal.

Supported by the healthy growth in commodities including rice, fresh fruits and vegetables, exports of agricultural and processed food products have risen by 14.7 % to US$ 11.65 billion during the April-October period, revealed the ministry of commerce During the first seven months of the current fiscal, rice exports rose to US$ 5.28 billion, compared to US$ 4.77 billion during the corresponding period the previous year). Exports of fruits and vegetables, on the other hand, rose to US$ 1.53 billion between April-October in 2021-22 compared to US$ 1.37 billion between April-October 2020-21.

The period also saw an increase in outbound shipments of meat, dairy and poultry products to US$ 2.28 million during April-October 2021 from US$ 1.97 billion during the corresponding period the previous year. An increase by 29.2 percent was observed in cashew exports amounting to US$ 265.27 million during the same period. Promotion of geographical indications (GI) tag goods, virtual buyer seller meets, recognition of 220 labs across the country to enable services of testing are among the various factors which contributed to boosting the growth of exports, along with financial assistance schemes of infrastructure development, market development, International Trade Fairs, and registration of meat processing plants and abattoirs for ensuring compliance with global food safety and quality requirements.