India’s exports grew for the second consecutive month, trade deficit reduced to $ 14.75 billion

new Delhi. The country’s exports (Exports) increased 5.37 percent to $ 27.24 billion in January 2021. It was mainly contributed by pharmaceuticals and engineering sectors. This was given in the temporary data of the Ministry of Commerce on Monday. In December 2020, the country’s goods exports registered a growth of 0.14 percent.

Fall in trade deficit
According to the data, imports grew by two per cent to $ 42 billion during this period. In this way, the country’s trade deficit came to $ 14.75 billion in the month under review. It was $ 15.3 billion in January 2020 and $ 15.44 billion in December 2020. During this period, exports of pharmaceutical and engineering sector grew by 16.4 percent and 19 percent respectively.

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Commerce and Industry Minister Piyush Goyal said in a tweet, “Self-reliant India went global. Exports of goods increased to $ 27.24 billion in January, an increase of 5.37 percent annually. With the government’s encouragement to export-oriented industries, Make in India is meeting the needs of the world in the new year.

Apart from medicine and engineering, the other sectors that recorded good growth include oilseed cake (253 per cent), iron ore (108.66 per cent), tobacco (26.18 per cent), rice (25.86 per cent), fruits and vegetables (according to the data. 24 per cent), Carpets (23.69 per cent), Handicrafts (21.92 per cent), Spices (20.35 per cent), Ceramic products and glassware (19 per cent), Tea (13.35 per cent), Cashew (11.82 per cent), Plastics (10.42 per cent) ) And chemicals (2.54 per cent). The sectors which recorded decline include petroleum products (-37.34 per cent), finished textiles (- 10.73 per cent) and leather (- 18.6 per cent).

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In January this year, gold imports increased nearly 155 percent to $ 2.45 billion. Apart from these, pulses, pearls, precious and semi-precious stones, crude cotton, vegetable oil, chemicals and machine tools were registered.

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