Exports up in first 3 weeks of Nov: Goyal

India’s merchandise exports grew in the first three weeks of November compared with the same period last year, according to preliminary government data, Commerce and Industry Minister Piyush Goyal (pictured) said on Tuesday.

- SHREYA NANDI

The uptick comes despite global uncertainties, the tariff imposed by the US, and an 11.8 per cent contraction in outbound shipments in October to $34.4 billion. “Given the challenging circumstances across the world, India continues to be a shining star. Until November 21, seeing the quick estimates, we find that merchandise trade is also showing growth from the corresponding period last’ year,” Goyal told reporters after the conclusion of the Board of Trade (BoT) meeting.

BoT is an apex advisory body on trade policy. The meeting was attended by senior officials from the Centre and states, as well as the country’s major industry bodies, to chart responses to the adverse impact of the 50 per cent tariff by the US on India’s exports. The BoT meeting took place after a gap of more than a year.