India’s exports grew 33.16 per cent to $7.63 billion during January 1-7 period owing to healthy performance by various sectors like engineering, petroleum and gems and jewellery, according to preliminary data released by the Commerce ministry.
Exports stood at $5.73 billion during the same period last year.
In the first week of January 2022, imports rose by around 33 per cent to $11.60 billion as compared to $8.72 billion in the same period of 2021.
Imports, excluding petroleum, increased in the period under review by 29.88 per cent over the same period of 2020-21, according to the ministry’s data.
The ministry has expressed confidence that the healthy growth rate would help in achieving the target of $400 billion worth goods exports this fiscal.
The country’s merchandise exports in December 2021 surged 37 per cent on an annual basis to $37.29 billion, the highest-ever monthly figure.