Union Commerce Minister Piyush Goyal has stated that the country’s exports, which dropped by 12 per cent in October, have now registered healthy growth in November, but he did not reveal the numbers. Notably, the Country’s export-import data for November will be released on December 15.
India works towards deeper integration to improve country’s exports
Furthermore, he said that India is working towards deeper integration with global exporttrading partners to improve the country’s exports, and you will hear a lot more regarding our own successful engagements with several of our trading countries. Notably, India is negotiating several free trade agreements (FTAs) with many countries and regions such as the US, European Union (EU), New Zealand, Oman, Chile and Peru.
The country’s exports reduced nearly 11.8 per cent to USD 34.38 billion in October due to the impact of US tariffs, whereas the trade deficit widened to a record high of USD 41.68 billion, noticing a slight jump in gold imports. Interestingly, exports were slightly increased by 0.63 per cent to USD 254.25 billion, and imports rose 6.37 per cent to USD 451.08 billion.
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