Commerce and Industry Minister Piyush Goyal said on Tuesday that the country’s exports are in positive territory till November 21 this month. There was a decline of about 12 percent in exports in October. He said that sectors like sea foods have recorded good growth.
Goyal said that as per quick estimates, the country’s merchandise exports have been growing steadily till November 21 compared to the same period last year. “Exports are in positive territory,” he told reporters here after presiding over the Trade Board meeting. There has been significant growth in many areas.
India’s exports declined 11.8 percent to $34.38 billion in October due to the impact of higher tariffs by the US. The trade deficit increased to a record high of $41.68 billion. The main reason for this is the increase in gold imports.
During April-October in the current financial year, exports grew marginally by 0.63 per cent to $254.25 billion, while imports rose by 6.37 per cent to $451.08 billion.
Regarding Special Economic Zones (SEZs), he said that talks at the inter-ministerial level to make units in these sectors competitive are “going on very actively”. The additional capacity in SEZs can be used to reduce imports from countries like China and ASEAN.
