India is the most preferred country in the world for investment. There are massive opportunities for global investors here. So they should invest in India. Along with this, there is a need to focus on the export services sector to boost the total exports of the country.
In the annual meeting of the World Economic Forum, Commerce and Industry Minister Piyush Goyal said, the government and companies should support each other to increase exports. Speaking at an event organized by the Confederation of Indian Industry and Deloitte, he said that India's presence in Davos has been significant this time. Achieved a record $250 billion export target without the hospitality sector amid challenges posed by the pandemic. Inviting global businessmen to invest in India, Goyal said that India's population is young. There is no dearth of skills here.
Exports up 21 percent to $23.7 billion
The country's exports grew by 21.1 percent to $23.7 billion between May 1-21, driven by improved performance from petroleum products, engineering, and electronic products. According to government data, in the second week of this month (May 15-21), total exports grew by almost 24 percent to $8.03 billion. The government may release export figures for May in June.
Highest 81 percent increase in petroleum products
Till May 21, the export of petroleum products grew by 81.1 percent. Engineering products exports grew by about 17 percent and electronic products by about 44 percent. Earlier in April, exports were up 30.7 percent to $40.19 billion. Imports were also up by 30.97 percent to $60.3 billion.
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