India Export data in January 2021: The country’s exports increased 5.37 percent year-on-year to $ 27.24 billion in January 2021. According to the provisional data of the Ministry of Commerce, the main reason for this is the good growth in pharma and engineering sectors. The trade deficit during the month decreased to $ 14.75 billion from $ 15.3 billion in January 2020. In December 2020 it was $ 15.44 billion. Imports in January 2021 increased by 2 percent to reach $ 42 billion.
Commerce and Industry Minister Piyush Goyal said in a tweet that self-reliant India has come on the global stage. Merchandise exports increased to $ 27.24 billion in January, a 5.37 percent growth on a year-on-year basis. With the government’s encouragement to export industries, Make in India is helping the world in the new year.
Exports in Pharma and Engineering increased
According to the data, pharmaceutical and engineering exports grew by 16.4 percent ($ 293 million) and about 19 percent ($ 1.16 billion), respectively.
Other sectors that have shown good growth include eye meal (253 per cent), iron ore (108.66 per cent), tobacco (26.18 per cent), rice (25.86 per cent), fruits and vegetables (24 per cent), chadar (23.69 per cent), handicrafts. (21.92 per cent), Spices (20.35 per cent), Tea (13.35 per cent), Cashew (11.82 per cent), Plastics (10.42 per cent) and Chemical (2.54 per cent).
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Negative growth in petroleum exports
Among the sectors which have shown negative growth in exports are petroleum products (-37.34 per cent), ready made clothes (- 10.73 per cent) and leather (- 18.6 per cent).
Earlier, India’s exports had increased to $ 27.15 billion in December 2020. While imports increased by 7.56 percent to reach $ 42.59 billion. Merchandise exports stood at $ 27.11 billion in December 2019, while imports totaled $ 39.59 billion. According to government data, the trade deficit for December 2020 stood at $ 15.44 billion. This was the highest in 25 months.