New Delhi: The country’s exports have 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.
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).
