India's quarterly exports cross $100 billion-mark for the first time

[Black Tornado]

India's quarterly exports cross $100 billion-mark for the first time

Commerce minister Piyush Goyal with PM Modi.
Published on Oct 02, 2021 05:16 PM IST

By hindustantimes.com, Hindustan Times, New Delhi
India reported $101.89 billion in exports in the quarter ending September, the ministry of commerce and industry said on Saturday. This is the first time that Indian exports have crossed $100 billion mark.

In September alone, the exports stood at $33.44 billion, according to government data. In August, the figure was $33.28 billion. The highest export amount in the second quarter was recorded in the month of July ($35.17 billion).
The total has now reached $101.89 billion, the data further showed.
In the first six months of the current financial year, exports from India touched $197 billion. The government has set a target of $400 billion for the financial year.

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[Arulmozhi Varman]

If this trend holds true true, India's total exports including services is set to rise to 600B this year.

 

[Chhatrapati]

If this trend holds true true, India's total exports including services is set to rise to 600B this year.

So will imports even higher. Besides I think these numbers are due to global inflation that's pushing prices high.

 

[Arulmozhi Varman]

So will imports even higher. Besides I think these numbers are due to global inflation that's pushing prices high.

I have no problem at any point of time with imports being higher. It means domestic consumption is kick starting and good for economy for the whole. That's a reason even when Chinese were exporting record high in 2010s there were worries that domestic spending is low. They opened up some part of economy to encourage imports also fastened up by Trump presidency in 2016.

Imports also can mean more exports. Our deficits is easily managed by services and remittances.