Context
India’s merchandise exports spurt to a record high of USD 418
billion in the 2021-22 fiscal on higher shipments of petroleum
products, engineering goods, gem and jewellery and
chemicals.
? India’s goods trade (exports and imports) crossed USD 1
trillion during 2021-22 as the country’s imports too have
touched an all-time high of USD 610 billion.
The key export sectors, which contributed to the record
healthy growth: petroleum products, engineering, gems and
jewellery, chemicals and pharmaceuticals. Commodities that
recorded a positive growth in exports during April 2021-March
2022 over the previous fiscal include petroleum, cotton
yarn/fabrics/made ups, handloom, gems and jewellery, engineering
goods (USD 111 billion as against USD 76 billion), electronic
engineering products (USD 15.58 billion as against USD 11 billion),
leather goods, chemicals, plastic and marine products. Agriculture
exports crossed USD 48 billion during April 2021-March 2022.
Export direction: The top export destinations are the US, the
UAE, Bangladesh, the Netherlands, Singapore, Hong Kong, the UK,
Belgium and Germany. The exports have also seen a significant
increase to different countries, especially, developed countries.
Such thumping achievements are attributed to efforts by exporters
and industry associations, coordination among different
departments and state governments have resulted in this
achievement.
Verifying, please be patient.