India exports June: The country’s exports registered a boom for the seventh consecutive month. India’s exports grew by 48.34 per cent to $32.5 billion in the month of June. Imports rose 98.31 per cent to $41.87 billion.
Exports boomed for the seventh consecutive month.
India export in June: The commerce ministry said on Thursday that the country’s exports grew 48.34 per cent to $32.5 billion in June due to good growth in exports of petroleum products, gems and jewellery, chemicals, leather and marine goods. In this way, an increase in exports has been registered for the seventh consecutive month. At the same time, the trade deficit stood at $ 9.37 billion.
According to the data released by the ministry, exports were $22 billion in June 2020 while $25 billion in June 2019. Exports in May 2021 were $ 32.27 billion while in April it was $ 31 billion. Imports also increased by 98.31 per cent to $41.87 billion in June this year. With this, the trade deficit stood at $ 9.37 billion, while in the same month last year, the trade was in the trade surplus of $ 0.79 billion. A situation of excess imports after commercial exports is called a trade-deficit situation.
Trade deficit increased in June as compared to May
During the first quarter of the current financial year i.e. April-June 2021, exports grew by 85.88 per cent to $95.39 billion. The data shows that imports rose to $126.15 billion during the first three months of the financial year, from $60.44 billion in the same period last year. The trade deficit for the quarter stood at $ 30.75 billion as against $ 9.12 billion in April-June 2020. The trade deficit widened in June 2021 compared to May. It was $6.28 billion in May.
Exports expected to grow by 50 percent in the first quarter
Mineral oil imports stood at $10.68 billion in June 2021, an increase of 116.51 percent as compared to $4.93 billion in June 2020. During April-June 2021, oil imports stood at $31 billion as against $13.08 billion in the corresponding quarter of the previous financial year. Dollar remained. According to the data, in April-June 2021, the country’s total exports are estimated to be $ 147.64 billion. This shows a positive growth of 50.24 per cent as compared to the same period last year.
Gold imports up 60 per cent in June
In June 2021, gold imports increased by 60 percent to about $ 97 million. A Sakthivel, president of FIEO, the apex organization of export companies, said that at this time the need is that the rates of R-ODTEP scheme (Scheme for Refund of Taxes and Duties on Export Goods) should be released at the earliest.
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