Decoded | Why India’s exports are at a record high
India Today
India's merchandise exports rose to a record high of $35.2 billion in July 2021. The export boost has led to a sharper economic rebounded after the second Covid-19 wave. In this article, we decode why India's exports have been rising and how it has helped the economy.
India’s economy has been recovering steadily after the deadly second wave of Covid-19 dented the GDP growth outlook. One of the factors that played a key role in the recovery is the improvement in merchandise exports. Merchandise exports from India hit a record high of $35.2 billion in July 2021 — the highest-ever monthly figure ever in the country’s history. It is an increase of 47.91 per cent over the $23.78 billion in July 2020 and an increase of over 34 per cent over the $26.23 billion in 2019.
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The gold rate today is around Rs 1.5 lakh per 10 grams for 24-carat gold, while 22-carat gold is near Rs 1.4 lakh, with prices edging higher after recent losses. Silver is also seeing a slight uptick after a volatile phase.