Ministry Of Commerce And Industry - Latest News Update, Information, Photos & Videos on Ministry Of Commerce And Industry at Lokmat Times

India's overall exports, merchandise and services combined, rose by 24.03 per cent year-on-year to $62.21 billion in May, the government data showed on Wednesday.The merchandise exports in May 2022 stood at $38.94 billion as compared to $32.30 billion recorded in the same month last year, registering a year-on-year growth of 20.55 per cent.The estimated value of services export for May 2022 is $23.28 billion, which is 30.32 per cent higher as compared with $17.86 billion recorded in May 2021, as per the data released by the Ministry of Commerce and Industry.For the first two months of the current financial year, overall exports rose to $124.59 billion, posting 25.90 per cent year-on-year growth.The merchandise exports for the period April-May 2022 rose to $78.72 billion as against $63.05 billion recorded during the period April-May 2021, registering a positive growth of 24.86 per cent.The estimated value of services export for April-May 2022 is $45.87 billion, exhibiting year-on-year growth of 27.71 per cent over $35.92 billion recorded in the April-May 2021 period.The overall imports, merchandise and services combined, surged by 59.19 per cent year-on-year to $77.65 billion.For the first two months of the current financial year, the overall imports are estimated to be $151.89 billion, exhibiting a positive growth of 45.44 per cent over the same period last year.Merchandise imports in May 2022 were $63.22 billion, which is an increase of 62.83 per cent over imports of $38.83 billion in May 2021.Due to a sharp jump in imports, the merchandise trade deficit in May 2022 surged to $24.29 billion as against $6.53 billion recorded in May 2021. The trade deficit has jumped by 271.96 per cent year-on-year.Merchandise imports for the period April-May 2022 stood at $123.41 billion as against $84.87 billion during the period April-May 2021, registering a growth of 45.42 per cent.The merchandise trade deficit for April-May 2022 widened to $44.69 billion as against $21.82 billion in April-May 2021, which is an increase of 104.80 per cent.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Ministry Of Commerce And IndustryFOLLOW

Ministry of commerce and industry, Latest News

Commerce and Industry Minister Piyush Goyal on Tuesday held a meeting with the top officials to review the progress of the ongoing negotiations on the free trade agreements (FTAs). ...

The Central government on Friday said that the Department for Promotion of Industry and Internal Trade (DPIIT) reviewed 40 critical infrastructure projects across India. ...

India received its highest ever Foreign Direct Investment (FDI) inflow of Rs 6,31,050 crore in Financial Year 2021-22 said Som Parkash, Minister of State in the Ministry of Commerce and Industry. ...

Make-in-India initiative of Prime Minister Narendra Modi's government has yielded positive results for the toy sector in the country with imports down by 70 per cent while 61 per cent surge in exports in the last three years, the government data show ...

The first round of negotiations for India-EU Trade and Investment Agreements has concluded in New Delhi and the second round of talks is scheduled to take place in Brussels in September this year, a statement issued by the Ministry of Commerce and In ...

Prime Minister Narendra Modi is scheduled to inaugurate the new premises of the Ministry of Commerce and Industry, Vanijya Bhawan on Thursday at 10:30 am. ...

India's trade deficit widened to a record $24.29 billion in May 2022 from $6.53 billion in the same month last year due to a sharp jump in the country's imports, as per data released by the Ministry of Commerce and Industry on Wednesday. ...

India's overall exports, merchandise and services combined, rose by 24.03 per cent year-on-year to $62.21 billion in May, the government data showed on Wednesday. ...