The reason why the UPA period recorded high export growth was high prices of global crude. (GettyImages)In a boost for the Indian economy, the exports out of India in the just culminated month of April jumped nearly three-folds from April last year to reach $30.21 billion, reports Economic Times.
Last April, owing to the imposition of the stringent nationwide lockdown, the exports had witnessed a steep fall of 60.28 per cent to just $10.17 billion.
Major exported commodities which recorded a growth in April include gems and jewellery, jute, carpet, handicrafts, leather, electronic goods, oil meals, cashew, engineering, petroleum products, marine products and chemicals.
Meanwhile, it should be noted that just as in the case of exports, imports also surged from $45.45 billion compared to $17.09 billion in April last year. Thus, the country's trade deficit for the bygone month stands at $15.24 billion.
April's robust export performance also gains significance as it comes after in bygone March, India had recorded a 60.29 per cent jump in exports to $34.45 billion.
An Appeal...
Dear Reader,
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.