India’s exports grew 36.2 per cent to $23.82 billion between December 1 and 21, according to preliminary data collected by the Ministry of Commerce and Industry, amid strong external demand for the goods.
The growth was 27.7 per cent compared to the same period in 2020. In terms of value, goods worth $18.65 billion were exported two years ago.
Exports of other items, except petroleum oils and lubricants, grew by over 28 per cent (December 1-21) in the same period of 2021 as well as in 2020 and 2019.
According to data, the value of exports rose by $7.36 billion during the third week of December compared to the same period of 2021. It was up 15.4 per cent during the same period in 2020.
Exports have shown steady growth since the beginning of the year on the back of recovery and strong demand in key global markets.
Export growth slowed in November. Export growth declined to 26.49 per cent in November from 43.05 per cent in the previous month. In absolute value terms, it fell to $29.8 billion, the lowest in nine months, but after this fall, new data for December exports shows that India bounced back with exports, resulting in a 36.2 per cent increase in exports.
India has set a target of achieving $400 billion in the current fiscal and has met nearly two-thirds of its annual export target during April-November. With the current pace of exports, India is close to achieving the export target of $400 billion.
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