business

India achieved highest ever exports of $37 billion in December: Piyush Goyal

India achieved highest ever exports of $37 billion in December: Piyush Goyal

NEW DELHI: India achieved its highest ever exports of $37.29 billion in December, an increase by 37 per cent on an annual basis, data released by government showed on Monday. Addressing the media, commerce and industry minister Piyush Goyal assured that India is on track to achieve an export target of $400 billion in financial year 2021-22. With $300 billion in the first nine months of 2021-22 we are on track to achieve our target...This growth is satisfying and we must aspire for more, Goyal said. He also noted that the top 10 major commodity groups constituting 80 per cent of the exports have grown by 41 per cent since last December. Further, outbound shipments during April-December 2021 crossed $300 billion, exceeding the exports of 2020-21, the data showed. On the flip side, Indias trade deficit widened to $21.99 billion. Imports in December too rose by 38 per cent to $59.27 billion on account of an increase in oil imports, which soared 65.17 per cent to $15.9 billion. Exports in December 2020 stood at $27.22 billion, while imports aggregated to $42.93 billion. Trade deficit was at $15.72 billion. In December 2021, exports of engineering goods grew by 37.27 per cent to $9.7 billion, followed by petroleum products (140 per cent to $5.6 billion), gems and jewellery (15.8 per cent to $2.98 billion), chemicals (26 per cent to $2.64 billion) and ready made garments of all textiles (22 per cent to $1.46 billion). (With inputs from agencies).

business 2022-01-03 TOI