InvestorQ : Is it true that India has managed to achieve record exports in the June quarter?
Tisha Malhotra made post

Is it true that India has managed to achieve record exports in the June quarter?

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Aashna Tripathi answered.
5 months ago
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For the month of June 2021, the early estimates coming from the Ministry of Commerce indicate that the merchandise exports were up 47.3% at $32.46 billion. This growth was triggered by sectors like engineering, gems and jewellery and petroleum products. For the quarter ended June, India reported record $95 billion of exports and Piyush Goyal is confident of scaling exports of $400 billion for the full year FY22.

However, despite the sharp growth in exports, the trade deficit for June 2021 aggregated to $9.4 billion. In the previous June 2020, the exports stood at $22 billion due to COVID effect. But, even if you consider June 2019, the overall experts were only $25 billion. So, there has been a clear quantum jump. For June 2021, the imports of goods were up by a whopping 96.3% at $41.86 billion on the back of higher crude prices and spike in gold imports.

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