India’s overall exports increase to $64.9 billion in June 2022
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Highlighting measures taken by the government to boost exports, the Ministry of Commerce & Industry in its latest report has showed that the overall (merchandise plus services) exports increased from $52.8 billion in June 2021 to $64.9 billion in June 2022. As per the Ministry of Commerce & Industry, the overall (merchandise plus services) imports increased from $52.9 billion in June 2021 to $82.4 billion in June 2022.
The Ministry underlined various measures such as Foreign Trade Policy (2015-20) extended upto September 30, 2022; assistance provided through several schemes to promote exports, namely, Trade Infrastructure for Export Scheme (TIES) and Market Access Initiatives (MAI) Scheme; and common Digital Platform for Certificate of Origin has been launched to facilitate trade and increase Free Trade Agreement (FTA) utilization by exporters.
Apart from this, measures including package announced in light of the COVID pandemic to support domestic industry through various banking and financial sector relief measures, especially for MSMEs; and launching of districts as export hubs by identifying products with export potential in each district, addressing bottlenecks for exporting these products and supporting local exporters/manufacturers to generate employment in the district, were also mentioned by the Ministry.
