Piyush Goyal: Exports, Yes, but Imports?
Commerce and Industry Minister Piyush Goyal says $650 billion of exports for both goods and services within the current financial year is possible to achieve.
- Feb 11, 2022,
- Updated Feb 14, 2022, 10:53 PM IST
Commerce and Industry Minister Piyush Goyal says $650 billion of exports for both goods and services within the current financial year is possible to achieve. While that would be a remarkable achievement, the fact is that imports are growing faster than exports. So, despite higher and higher exports, the trade deficit is widening. Last December, exports were at a record $37.81 billion, but imports were also at a record $59.48 billion. Kotak Securities expects India's trade deficit to widen to $190 billion in 2021-22 and to $200 billion in 2022-23. Comparatively, the deficit was $102 billion deficit in 2020-21.
Commerce and Industry Minister Piyush Goyal says $650 billion of exports for both goods and services within the current financial year is possible to achieve. While that would be a remarkable achievement, the fact is that imports are growing faster than exports. So, despite higher and higher exports, the trade deficit is widening. Last December, exports were at a record $37.81 billion, but imports were also at a record $59.48 billion. Kotak Securities expects India's trade deficit to widen to $190 billion in 2021-22 and to $200 billion in 2022-23. Comparatively, the deficit was $102 billion deficit in 2020-21.