Merchandise imports during the eight month period of FY21 fell by 33.56 per cent to $215.67 billion. Exports declined 9.07 per cent to $23.43 billion in November amid a drop in shipments of segments such as petroleum products, engineering and chemicals, even as the trade deficit narrowed to $9.96 billion during the month, as per official data released Wednesday. Imports too fell 13.33 per cent to $33.39 billion last month.
Exports during April-November were $173.49 billion, as against $211.17 billion in the corresponding period a year ago, posting a negative growth of 17.84 per cent. Merchandise imports during the eight month period of FY21 fell by 33.56 per cent to $215.67 billion.
Meanwhile, at the Board of Trade meeting Wednesday, exporters suggested to the Centre a series of steps, including extending fiscal benefits to SEZ units, presumptive tax for cross-border e-commerce and free trade pacts with nations like the US and UK, to boost local manufacturing and outbound shipments.
