After contracting for six months in a row, the country's exports grew by 5.27 per cent to $27.4 billion in September, Commerce and Industry Minister Piyush Goyal said on Thursday.
India's exporters are looking out for Euro-dominated trade opportunities due to strengthening of rupee and pressure on profit margins, according to a survey by the Federation of Indian Chamber of Commerce and Industry (FICCI).
As the liquidity crunch reaches crisis levels and getting tax refunds remain a big headache, exporters saw orders fall by 15 per cent till October.
In August 2014, imports stood at $ 2.06 billion. Higher imports will have adverse bearing on India's current account deficit (CAD).
The country's exports in December surged 37 per cent on an annual basis to $37.29 billion, the highest-ever monthly figure, government data showed on Monday.
Orders for the festive season abroad begin from next month.
Imports too contracted by 28.72 per cent to $31.16 billion. Dip in exports and imports narrowed the trade deficit -- the difference between imports and exports -- in March to $9.76 billion, the lowest in the last 13 months.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
The country's exports jumped by 58.23 per cent to $34 billion in March as key sectors such as engineering, gems and jewellery and pharmaceuticals recorded healthy growth rate during the month, according to the Commerce Ministry's provisional data. Exports during April-March 2020-21, however, dipped by 7.4 per cent to $290.18 billion compared to $313.36 billion in 2019-20, the data showed. Imports during 2020-21 contracted by 18 per cent to $388.92 billion compared to $474.71 billion during 2019-20. In March 2020, the exports stood at $21.49 billion, which was a decline of about 34 per cent over March 2019 due to global slowdown induced by the Covid-19 crisis.
Demand will boom in the US and China, but exporters say it will be difficult for India to tap these markets.
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
India's exports fell for the fourth straight month in June as shipments of key segments like petroleum and textiles declined but the country's trade turned surplus for the first time in 18 years as imports dropped by a steeper 47.59 per cent.
India's exports are estimated to have remained at around $312 billion in 2013, while the final figures for 2014 could be around this figure only.
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Financials were among the top losers along with Sun Pharma and index heavyweight Reliance Industries
Bharatiya Janata Party's prime ministerial candidate, Narendra Modi, last month urged small traders to compete with foreign retail chains through e-commerce.
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Exports to Europe shrank by near 2 per cent in the 11 months.
Telecom stocks fell after Mukesh Ambani extended Reliance Jio's free offers till March 2017.
