Indian economy picks up pace amid world slowdown, exports rose to $35 billion in September

Posted on 15th Oct 2022 by rohit kumar

With the increase in the size of India's economy, the import-export is also increasing. According to the data released by the government, India's merchandise exports in September increased by 4.82 percent to $ 35.45 billion compared to the same period last year. With this, total imports increased by 8.66 percent to $61.61 billion in the same period.

 

The data said that India's trade deficit reached $ 25.71 billion in September this year, from $ 22.47 billion in September 2021. The growth in India's imports and exports is happening at a time when there is a fear of recession in the world and it shows the strength of the Indian economy.

 

Exports may increase by 21 percent

India's total exports (goods and services) are estimated to reach $382.31 billion in the first half (April-September 2022) of this financial year and a growth of 21.03 percent over the same period last year. At the same time, total imports may reach $ 469.47 billion in the first half of this fiscal, up 37.77 percent from the same period last year.

 

 

Big jump in the trade deficit

According to the data released by the government, the trade deficit between April-September 2022 is estimated to increase by 94.69 percent to $148.46 billion during the same period last year, as against $76.25 billion between April-September 2021.

 

fast-growing Indian economy

The Indian economy continues to grow at a rapid pace even amidst the global recession. According to the GDP data released by the government, the Indian economy registered a growth of 13.50 percent in the first quarter of this financial year. According to the latest estimates of RBI, India's GDP can grow at the rate of 7.00 percent in the current financial year.

 

Also Read: WPI Inflation: September was cheaper than August, and wholesale inflation decreased, but not below double digits

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