India's exports plunged by a record 34.57 per cent in March due to a steep decline in shipments of leather, gems and jewellery and petroleum products, dragging the total exports in 2019-20 down to $314.31 billion, official data showed on Wednesday
Export growth turns positive at $26.33 bn in July, up 2.25%; trade deficit narrows to four-month low of $13.4 bn
Exports sectors that showed positive growth in the last month included chemical, iron ore, electronics, marine products and pharmaceuticals.
Exports to hit $330 bn in 2018-19; nine sectors identified to achieve 16% growth this financial year: Suresh Prabhu
He said the country's merchandise exports have seen high growth in the past six years through sector-specific interventions, focused export promotion initiatives, and quick resolution of issues.
Merchandise exports to surpass $314 bn peak this year; pharma, engineering, petroleum products contribute to growth
Pharma, engineering products, petroleum products, gems and jewellery, leather products and even textiles would be among sectors that contribute to the growth in the exports, Wadhawan said.
Govt to provide Rs 600 cr subsidy sops to merchant exporters; move likely to boost outbound shipments
The proposal will entail benefits of around Rs 600 crore to exporters on interest equalisation for the remaining period of the scheme, an official release said.
The Exim Bank estimate said merchandise exports will go up to $82.39 billion for the third quarter of the fiscal year, as against $77 billion.
Engineering exports likely to touch $80 billion this fiscal on healthy growth in major markets: EEPC
In 2017-18, the exports stood at $76 billion. The sector accounts for about 25 percent of the country's total merchandise exports.
Govt is working on a comprehensive strategy to double the country's exports by 2025, says commerce minister Suresh Prabhu
In 2017-18, the country's merchandise exports grew by 10 percent to $303 billion, while services exports rose by 18.8 percent to $195 billion in the same period.
Exports have been on a positive trajectory since August 2016 to February 2018 except for a temporary setback in October 2017, the Commerce Ministry said