Days after the country's exports recorded positive growth in the month of January, leading trade bodies are expecting that the outbound shipments will rise in the coming months as the uncertainty in global markets began to subside, officials said on 4th Feb.
The country's export raised by 5.37 per cent year-on- year to $ 27.24 billion in January 2021, mainly driven by healthy growth in pharmaceuticals and engineering sectors.
Sanjay Budhia, chairman of CII National Committee on EXIM said the growth was due to the measures taken by the central government.
The country's engineering exports grew by about 18.7 per cent to $ 7,174.43 million in the last month.
Sanjay Budhia said the uncertainty in global markets started subsiding as several countries were moving out from the lockdowns and the vaccination programmes gain pace.
According to Sanjay Budhia, a recovery in overseas market has led to increased demand for goods.
Sanjay Budhia said Indian exports that have done well in January includes agri-products, pharmaceutical items, electronic and engineering goods, ores and minerals.
Another trade body Engineering Export Promotion Council (EEPC) India has also expressed pleasure over the increased shipments of engineering products in the last month with exporters exuding confidence about the rise in external demand.
Mahesh Desai, chairman of Engineering Export Promotion Council (EEPC) India said most of the members of the trade body are from the MSME sector, and a study suggested that there has been a sturdy rise in demand in markets of the US, Europe and several key Asian economies.