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Exports rise 80% to $7 billionduring May 1-7

Exports during May 1-7 last year stood at $3.91 billion and $6.48 billion in the same week of May 2019, data showed.

By: ENS Economic Bureau | New Delhi |
May 10, 2021 3:15:11 am
Imports too rose by 80.7 per cent to $8.86 billion during May 1-7, 2021 as against $4.91 billion in the same period last year and $10.39 billion in 2019.

Continuing a positive growth, India’s exports grew by 80 per cent to $7.04 billion during the first week of this month, according to preliminary data of the commerce ministry.

Exports during May 1-7 last year stood at $3.91 billion and $6.48 billion in the same week of May 2019, data showed.

Imports too rose by 80.7 per cent to $8.86 billion during May 1-7, 2021 as against $4.91 billion in the same period last year and $10.39 billion in 2019.

India’s exports in April jumped nearly three-folds to $30.21 billion from $10.17 billion in the same month last year.

Major export commodities which are recording healthy growth include gems and jewellery, jute, carpet, handicrafts, leather, electronic goods, oil meals, cashew, engineering, petroleum products, marine products and chemicals.

Federation of Indian Export Organisations (FIEO) President S K Saraf said that the exports growth is encouraging and order books of exporters are healthy.

“I will urge the government to look into the issues of MEIS (merchandise export from India scheme). RoDTEP (remission of duties and taxes on export products) rates should allso be announced immediately to further push the shipments as profitability of exporters are getting impacted,” he said.

Power consumption grows nearly 25%

NEW DELHI: Power consumption in the country grew 25 per cent in the first week of May to 26.24 billion units (BU) over the same period last year, showing consistent recovery in industrial and commercial demand of electricity, according to power ministry data.

Power consumption in the first week of May 2020 was 21.05 BU. The power consumption in the entire month of May last year was 102.08 BU.

On the other hand, peak power demand met, which is the highest supply in a day, during the first week of this month remained well above the highest record of 166.22 GW in May 2020 except on May 2, when it was 161.14 GW.

During the first week of May this year, peak power demand met or the highest supply in a day touched the highest level of 168.78 GW (on May 6, 2021) and recorded a growth of nearly 22 per cent over 138.6 GW (peak met) recorded in the same period in 2020 (on May 7, 2020).

The power consumption in April grew 41 per cent to 119.27 BU.

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