India's current account deficit narrowed sharply in the January-March 2023 quarter, RBI data showed on Tuesday, attributable to a moderation in the trade deficit and robust services exports.
Union minister Piyush Goyal has said that India's overall export figure for last year had already crossed in the month of February and expressed confidence that merchandise and services exports would touch USD 750 billion in 2022-23 (April-March).
The commerce secretary also said, "While IT/IT-enabled services and business services have maintained their robust growth, transportation and financial services exports have grown at more than 35 per cent during April-September 2022."
RBI Governor Shaktikanta Das said, "The situation has shown improvement in Q3:2022-23 (third quarter or October-December) as imports moderated in the wake of lower commodity prices, resulting in narrowing of the merchandise trade deficit."
The Survey said, "Merchandise exports were USD 332.8 billion over April-December 2022 against USD 305 billion during the period April-December 2021. Nonpetroleum and non-gems and jewellery exports in April-December 2022 were USD 233.5 billion, as compared to USD 230 billion in April-December
New Delhi [India], October 14 (ANI): India's overall exports in April-September 2022 are estimated to be $382.31 billion, exhibiting a 21.03 per cent growth over the same period last year. Overall imports in September 2022 are estimated to be $76.26 billion, showing a positive growth of 10.7
New Delhi [India], September 29 (ANI): Services industry must be competitive and not seek subsidies to boost exports, Commerce and Industry Minister Piyush Goyal said while addressing an event organised by the Services Exports Promotion Council (SEPC) in New Delhi on Thursday.
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New Delhi [India], September 3 (ANI): India's merchandise exports rose by 17.1 per cent year-on-year to $192 billion in the first five months of the current financial year, Commerce Secretary BVR Subrahmanyam said on Saturday.
New Delhi [India], August 12 (ANI): India's exports increased by 2.14 per cent year-on-year to $36.27 billion in July while imports surged by 43.61 per cent to USD 66.27 billion during the month leading to an almost three-fold jump in the trade deficit, according to the official data release
New Delhi [India], July 29 (ANI): The share of export of goods and services in India's gross domestic product (GDP) rose to 21.4 per cent in the financial year 2021-22 from 18.7 per cent recorded in the previous year, the government data showed.