A resurgence in orders, demand from new markets and higher global prices resulting from trade volatility since last year have boosted India’s exports of manufactured products such as engineering goods, plastics, chemicals, drugs and electronics
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High-value finished products are leading the fast-paced recovery in India’s exports, much to the surprise and delight of the government. An internal report of the commerce ministry, reviewed by
Moneycontrol, has highlighted how India’s exports performed much better in the first quarter (April-June) of FY22.
Export of finished products across major segments such as engineering goods, plastics, chemicals and drugs have pushed up India’s outbound trade when many exporters had been suffering from a major liquidity crisis, almost one and a half years after the pandemic emerged.
Ten of the 30 product groups tracked by the government showed a rise in Q1 as compared to before the pandemic in FY20. This led to India’s export growth rate in April 2021 exceeding that of the US, the UK, the European Union, Japan and South Korea, said BVR Subrahmanyam, the new commerce secretary.
