Sharp growth in exports reflects pick-up in demand in western markets: TPCI

By: |
May 03, 2021 1:45 PM

TPCI on Monday said that healthy exports growth in labour-intensive sectors such as jute, carpet, handicrafts and leather indicates that demand is picking up in the western markets.

So only a sustained uptick over the next 2-3 years would help recapture the lost heights.So only a sustained uptick over the next 2-3 years would help recapture the lost heights.

The Trade Promotion Council of India (TPCI) on Monday said that healthy exports growth in labour-intensive sectors such as jute, carpet, handicrafts and leather indicates that demand is picking up in the western markets. India’s exports in April jumped nearly three-folds to USD 30.21 billion on account of healthy growth in key sectors including engineering, gems and jewellery and petroleum products.

TPCI Founder Chairman Mohit Singla said that April exports growth is one of its kind optimistic and is a healthy sign, reflecting a balanced overall growth across sectors. Not just agri and pharma but all other sectors have bounced back indicating a big confidence booster and the emergence of a stable market order, he said in a statement.

“I am particularly happy to see the growth of labour-intensive sectors such as carpet, handicrafts, leather, ceramic products and glassware, which shows that demand in the western markets is picking up as these counties are coming out of the pandemic woes gradually,” he added.

The US and Europe are key export destinations for Indian exporters

Do you know What is India expected to grow 10 pc during current fiscal: NCAER Director General Poonam Gupt,FinMin releases Rs 9,871 cr grant to 17 state, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Govt to borrow Rs 5.03 lakh cr in H2 FY’22 to fund revenue gap
2Govt to extend existing foreign trade policy till March next: Goyal
3Fraudsters shift focus to travel, logistics, online dating as economic activity restarts: Report