India is on track to surpass the $400 billion mark in yearly exports

Spread the love

India’s exports hit a new high of $197.89 billion in the first half of FY22, putting it on track to surpass the $400 billion mark by the end of the year. However, the surge is primarily due to rising global commodity costs, which include critical inputs such as oil, chemicals, metals, plastic, and cotton. Traders and industry experts believe the volume rise isn’t keeping pace with the value growth.

RECORD EXPORTS IN APRIL-SEPTEMBER

  • $197.89 billion merchandise goods exports in Apr-Sep
  • Improved global demand supports outbound shipments
Untitled-8

Apr-Aug

  • Fresh fruit & veg exports down 17.4% in volume terms, up 3.8% in $
  • Value-added steel product exports fall 15-35%
Untitled-9

EXPORTERS SAY

  • Carpet, handicraft export volume only 5% higher on year
  • Liquidity crunch, high manufacturing cost squeeze profits
  • Energy crisis, high coal imports may worsen commodity inflation, hit exports
  • 20-30% rise in ocean freight, container prices since May