Friday, September 24, 2021
News

Merchandise exports to grow 6.9 pc in FY22: Ind-Ra

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Mumbai (Maharashtra) | July 30, 2021 10:47:40 PM IST
India's exports languishing for quite some time can take advantage of the favourable trade growth outlook of 2021 and consolidate position further than what has been witnessed in 1Q FY22, India Ratings and Research (Ind-Ra) has said.

The United States which is part of North America and the United Kingdom, Belgium, Germany, Italy and the Netherlands which are part of Europe are expected to clock import growth of 11.4 per cent and 8.4 per cent YoY respectively in 2021.

Ind-Ra thus expects merchandise exports from India to grow 6.9 per cent in FY22 (FY21: negative 12.5 per cent and FY20: negative 5 per cent).

In year-on-year growth terms, India's exports grew 60 per cent, 196 per cent, 69 per cent and 48 per cent in March, April, May and June respectively.

No doubt, the growth numbers reflect the depth of Covid-19 shock last year. However, Ind-Ra said they also show the strength of the current recovery. The average monthly exports during 1Q FY22 jumped to USD 31.8 billion.

In fact, the exports momentum began in March which witnessed the highest ever monthly exports of USD 34.45 billion.

However, as the threat of Covid-19 is not yet over, a lot will depend on the pace and coverage of immunisation in different parts of the globe, said Ind-Ra. (ANI)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Exela Technologies expands electronic si...
Airtel selects Tejas Networks for optica...
Record high: Sensex breaches 60K, Nifty ...
Sensex hits 60K mark for first time, IT ...
Mumbai, Bangalore and London named among...
D7 Events by Akash Goyal launch In-House...
More...
 
INDIA WORLD ASIA
Death to man who raped minor, set her ab...
Now daily wager in Bihar gets Rs 9.99 Cr...
Mysuru gang rape: Victim identifies rapi...
Electrocution deaths: A cause of worry f...
Owaisi seeks LS speaker's intervention i...
India administers 84 cr COVID-19 vaccine...
More...    
 
 Top Stories
'Notting Hill' director Roger Miche... 
Badshah promises to fulfill a dance... 
Diesel price increased, petrol rate... 
At 31K new cases, India's active Co... 
S.African Airways resume flights af... 
Cancel culture grips Africa against... 
How white blood cells aid in predic... 
Google Calendar events now include ...