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India’s Commerce Minister Piyush Goyal has said India’s exports in December surged 37 percent on an annual basis to 37.29 billion US Dollars, which is highest-ever monthly figure. He said India’s exports of goods will cross 400 billion dollars this fiscal year ending March 2022. Imports in December too rose by 38 percent to 59.27 billion dollars on account of an increase in oil imports, which soared 65.17 percent to 15.9 billion dollars.
Cumulatively, during April-December 2021-22 exports rose by 48.85 percent to 299.74 billion dollars. Imports during the period increased by 69.27 percent to 443.71 billion dollars, leaving a trade deficit of 143.97 billion dollars. Federation of Indian Export Organisations (FIEO) President A Sakthivel said looking at the current trend, India will achieve the 400 billion dollar merchandise exports target for the current fiscal.