Union Commerce Minister Piyush Goyal stated that India’s exports have recovered this month till November 21, followed by a fall of 12% last month, and are now in the positive zone. Moreover, Goyal said that sectors like seafood have shown healthy growth. According to quick estimates, the country’s merchandise exports have resumed on an upward trajectory to date as compared to the same period the previous year.
Comm Minister Goyal says: “exports are in Positive zone”
Goyal chaired the board meeting and told the reporters that the exports are in the positive zone and have witnessed substantial growth in various sectors.
Notably, exports have dropped in the month of October by 11.8% to USD 34.38 billion because of high US tariffs. Contrary to this, the country recorded a high trade deficit of USD 41.68 billion because of a rise in gold imports. Interestingly, the exports have been slightly increased by 0.63% to USD 254.25 billion, whereas imports rose by 6.37% to USD 451.08 billion in the month of April.
The commerce minister stated that the interministerial discussions are actively underway to make the units in Special Economic Zones (SEZs) more competitive. Additionally, he stated that the surplus capacity in Special Economic Zones (SEZs) can be utilised to decrease imports from countries like ASEAN and China.
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