The country’s exports as well as imports are showing positive trends as the outbound shipments are approaching the last year’s levels, after making a sharp dip in April this year due to the Covid-19 pandemic, Commerce and Industry Minister Piyush Goyal has said.
The minister said this during his meeting with various export promotion councils on September 3. On imports, Goyal said that inbound shipments of capital goods have not declined, and the reduction has been seen mainly in crude, gold and fertilisers.
He added that the trade deficit is reducing drastically and India’s share in the global trade is improving due to resilient supply chains.
He also said the ministry is trying to generate more reliable and better trade data so that the nation can do better planning and frame policies accordingly.