Exports of goods hit a new high at $331 billion last fiscal
Exports of goods in 2018-19 registered a 9.06 per cent growth to hit a new high of $331 billion, breaching the previous high of $314 billion clocked in 2013-14.
Exports of goods in March was 11 per cent higher at $32.55 billion (the highest monthly performance) on the back of significant contributions from sectors such as engineering goods, chemicals, pharmaceuticals and petroleum products, according to an official statement.
Owing to a good catch-up in March, India’s exports have crossed $331 billion in 2018-19 with engineering exports registering an all-time monthly figure of $9.4 billion and annual $83 billion. However, 2019-20 appears to be a challenging one. The global economy and trade seem to be coming under pressure with issues like protectionism refusing to go, Ravi Sehgal, Chairman, EEPC India. Imports in 2018-19 grew 8.99 per cent to $507 billion, but growth in March was 1.44- per cent lower at $43.44 billion with a fall in imports of machinery, transport equipment, electronic goods and coal and coke.