As per latest data from the Ministry of Commerce, India’s exports have risen from last year by a considerable percentage.
As per the data, India’s exports to neighbour China, have gone up by 26.3%. From $8.4 Billion during the period April – September 2019 to $10.6 Billion in April – September 2020, India has jumped its exports even during a period that has otherwise proven strenuous with the neighbour.
As far as imports are concerned, India’s imports from China have fallen from $36.3 Billion in September 2019 to $27.4 Billion in September 2020. A total decrease of 24.5%.
Not just China, but even to the US, the exports have shown a significant increase, whereas the imports have fallen.
Exports in September 2019 were $4.4 Billion, that have increased by 15.5% to $5.1 Billion in September 2020.
Likewise, the imports have fallen by 34.3%. From $2.8 Billion in September 2019 to $1.8 Billion in September 2020.
PM Modi has, on several occasions, spoken about the ‘atmanirbhar’ concept. ‘Make in India’ is an initiative by the Government of India to encourage companies to manufacture in India and incentivise dedicated investments into manufacturing, to ensure that the manufacturing sector’s contribution to GDP increases.
With a massive push from the Modi government, the entire effort to propel exports has got a massive motivation. This significant increase in exports, in the long run, will be a big boost to India’s indigenous and home grown industries as well as other sectors. Right now, with the economy at a dismal ow, such impetuses will help leverage the future growth path again.