The country’s exports grew 33.16 percent to $7.63 billion during January 1-7 period on account of healthy performance by various sectors, including engineering, petroleum and gems and jewellery, according to preliminary data from the commerce ministry. Exports stood at $5.73 billion during the same period last year.
During the first week of this month, imports rose about 33 percent to $11.60 billion as compared to $8.72 billion in the same period of 2021. Imports, excluding petroleum, increased in the period under review by 29.88 percent over the same period of 2020-21, as per the data.
The ministry has expressed confidence that the healthy growth rate would help in achieving the target of $400 billion worth of goods exports this fiscal. The country’s merchandise exports in December 2021 surged 37 percent on an annual basis to $37.29 billion, the highest-ever monthly figure.