India’s merchandise exports grew by 24.2 per cent to a monthly record of $38.2 billion in April, boosted by growth in outward shipments of petroleum products, engineering goods, chemicals and electronic goods, as per data released by the Commerce Ministry on Tuesday. Imports, however, saw an even faster growth at 26.6 per cent to reach $58.3 billion, taking the monthly trade deficit to $20.1 billion up from $15.3 billion in the year-ago period.
Commerce and Industry Minister Piyush Goyal, in a tweet, described the export performance as a “spectacular start” to the new financial year. “We are building on historic high of 2021-22 & confidently achieving new milestones on the back of trade deals inked recently,” he tweeted.
