Exports surge 37% to a record $37.3 billion in December – Times of India

Exports surge 37% to a record $37.3 billion in December - Times of India

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NEW DELHI: The country’s exports soared by an annual 37% to $37.3 billion in December, the highest ever monthly number led by robust shipments from sectors such as engineering, textiles, chemicals and gems & jewellery, preliminary trade data showed on Monday.
The trade deficit widened to $21.9 billion. Imports rose 38% in December to $59.3 billion as oil imports surged by 65.2% to $15.9 billion. Gold imports rose 4.6% to $4.7 billion during the month.
Exports have consistently been in the range of $30 billion or more in the nine months of the current fiscal year, helped by an improving global economy and demand for goods from the country in markets overseas. “At $300 billion in the first nine months, we have actually created a historic record on exports,” said Piyush Goyal, Union minister for commerce and industry, textiles, consumer affairs, food & public distribution.
Goyal also said that at $103 billion in the October-December period, it has been the highest quarterly export figures as well. “We are confident we will cross $400 billion target,” Goyal said. The minister said PM Narendra Modi’s efforts to forge close ties with various countries at the highest levels across the world had helped open the doors for more strategic and comprehensive economic partnerships with different countries. These included the UAE, Australia, the UK & Canada.



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