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The commerce ministry’s preliminary data has showed that India's exports increased by 37.01 per cent to $ 18.79 billion during April 1-14 on the back of healthy growth in sectors like petroleum, gems and jewellery. Exports during April 1-14, 2021, stood at $13.72 billion.

Further, it showed that imports during the period rose by 12.24 per cent to $25.84 billion. Imports excluding petroleum increased in the said period by 18.24 per cent against the same period of FY22.

During the previous year (FY22), India surpassed the $400-billion target for merchandise exports, ending the year with over $419 billion, growing by nearly a fifth.  Imports in FY22 too soared to $ 611.89 billion, leaving a trade gap of $192.24 billion. The department of commerce is yet to set the target for this fiscal year, but meetings with export promotion councils and the external affairs minister is also underway to finalise the target.