Breather for Modi government in exports since 2013-14
Country’s total export has hit a new peak of whopping $331 billion in the financial year 2018-19. But the rider of higher imports has pushed up the trade deficit too. Widely, 20 out of 30 major export products witnessed higher shipments, growing the export by 11
Experts suggested this could be the highest growth in a month in the past four years. They suggested that March-2019 figures are a record as it was the fastest growth in the past five months. For BJP ruled Union government, now days facing flak over NSSO data the new figures are a breather.
While the overall growth rate of the country is in single digit the record growth in export would help the government present substantial export data before the stakeholders. Following the claimed revival measures the Union government had been applauding itself for increased exports.
Through secular growth over the last three financial years, following major downturn in the face of global slowdown, merchandise exports for 2018-19 are estimated at $331 billion, the highest ever, surpassing the earlier peak of $314.4 billion achieved in 2013-14. This has been achieved in a challenging global environment,” the commerce ministry said in a statement.