Union Minister Piyush Goyal said that India's exports have rebounded this month till 21 November after falling 12% last month and are now in the positive zone, as reported by PTI.
Goyal said that sectors like seafood have shown healthy growth and and as per quick estimates the country's merchandise exports continue to be on an upward trajectory till November 21 as compared to the same period last year.
After chairing the Board of Trade meeting Goyal told the reporters that the exports are in the positive territory and significant growth has been seen in several sectors.
In October exports had fallen by 11.8% to USD 34.38 billion due to high US tariffs. On the other hand the country recorded a record high trade deficit of USD 41.68 billion due to an increase in gold imports.
In the April–October period of this fiscal year, exports increased slightly by 0.63% to USD 254.25 billion, while imports went up by 6.37% to USD 451.08 billion.
The commerce minster said that interministerial discussions are "going on very actively" to make the units in Special Economic Zones more competitive. Goyal said that the surplus capacity in SEZs can used to reduce imports from countries such as ASEAN and China.
Source Name : Economic Times