The Indian export sector has been breaking records. In late March India comfortably crossed the $400-billion export mark by $20-billion. Export shipments had touched a record of $330.07 billion in 2018-19.
With high commodity prices and the ongoing Russia-Ukraine conflict, India’s merchandise exports swelled by 24.2% in April to $38.2-billion, the third-highest level ever.
The growth in exports in April was caused by commodity prices. Consider that petroleum product exports more than doubled, with a 113 per cent increase compared to April 2021. Meanwhile, chemicals increased by 27 per cent.