Data released by the Union Ministry of Commerce & Industry on Friday showed that India's exports in April jumped nearly three-fold to $30.63 billion from $10.36 billion in the same month last year. Imports too rose to $45.72 billion last month as against $17.12 billion in April 2020, the data showed. Trade deficit widened to $15.10 billion as against $6.76 billion in April 2020. The sharp rise in exports and imports seen in April was due to a low base in trade volumes in the same period last year as the country was put under a national lockdown to contain the spread of coronavirus.
The Commerce secretary has said that there were no major issues on logistics for exporters due to restriction due to Covid-19, adding that sectors, which have done well in FY21, have done some market diversification. Exports in April last year had plunged by a record 60.28% due to the coronavirus pandemic-induced lockdown. In March this year, exports grew by 60.29% to $34.45 billion. Due to the low base effect, exports in April 2021 recorded a growth rate of 195.72%.
Oil imports stood at $10.8 billion as compared to $4.66 billion in the corresponding month last year. Major export commodities which have recorded positive growth in April include gems and jewellery, jute, carpet, handicrafts, leather, electronic goods, oil meals, cashew, engineering, petroleum products, marine products and chemicals.