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.
read this also- Good news for Franklin Templeton’s unitholders, Supreme Court orders to return money in 20 days, know the whole case
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.
Aatmanirbhar Bharat Takes Global Stage 🌎: Merchandise exports increased to $27.24 billion in January, recording a year on year growth of 5.37%
With Govt. incentives to export-driven industries, Make in India is catering to 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).
Also read- The world’s second richest man will leave his post, Andy Jessie will replace him
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.