Corona tax record 418 billion in exports…
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In the wake of the Corona epidemic, india has made record exports in the last financial year. Excellent performance in the field of petroleum products, engineering goods, gems, jewelry, and chemicals. In 2021-22 fiscal, India's exports reached a record Rs.418 billion, said Commerce and industry Minister piyush Goyal.
In march 2022, the country exported Rs.40 billion.Earlier, exports in march 2021 stood at 34 billion. In the fiscal year 2020-21, india exported 292 billion. Exports have reached 418 billion in 2021-22. On march 23, the country crossed the 400 billion export mark, said piyush goyal while releasing trade figures for the fiscal year 2021-2022 on Sunday.
High performance in petroleum products, engineering, gems and jewelry, chemicals, and pharma sectors is the main reason for India's good performance in the recently concluded financial year. india exports most to the US It is followed by the United Arab Emirates (UAE), China, Bangladesh, and the Netherlands.
This is a milestone toward becoming a self-reliant India. However, in the last two years, restrictions on the coronavirus have led to poor performance in areas such as tourism and aviation. However, due to the sharp recovery in the economy, there is hope that these sectors will get back on track, said prime minister Narendra Modi.
The ukraine war at the end of february is expected to affect the export front in the fiscal year 2022-23. At the same time, due to the high price of crude oil, the import bill can be very high. Which could hurt the economy.
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