India’s merchandise exports in April 2021 were $ 30.21 billion, 197% more than a year ago, when exports slumped to $ 10.17 billion in the middle national lockdown.
April’s exports, however, were a 16% increase from April 2019. Merchandise imports increased 166% in April to $ 45.45 billion from a year ago, reflecting a 7.22% increase over imports in the same month before COVID 2019.
As a result, India’s trade deficit for the first month of 2021-22 stood at $ 15.24 billion, 120.3% from last April, but was 6.8% lower than the deficit. April 2019. Excluding exports from the petroleum and gemstones and jewelry sector, which the government pointed out as involving little added value, exports increased by more than 164% to reach 23.51 billion euros. dollars, driven by labor-intensive sectors such as jute, carpets, crafts and leather.
Exporting agencies have said the return to pre-COVID levels bodes well for the business outlook this year, even though there are concerns about logistics issues and worker availability amid the second wave of the pandemic which hurts short-term trading. The Federation of Indian Export Organizations has urged the government to address several outstanding issues that are hurting businesses, including failure to notify rates of reimbursement of duties and taxes paid in the domestic market for export shipments.