The easing of the lockdown restrictions by various states will help in increasing the apparel exports rapidly and it will soon reach the pre-Covid-19 level. Apparel Export Promotion Council (AEPC) Chairman A Sakthivel expressed this opinion on Saturday. Sakthivel said that while the overall global demand remains strong, factories are partially closed due to the lockdown in various parts of the country. He said that India is in a position to achieve strong export growth after reducing the number of infections and resumption of economic activities.
Sakthivel said that once the economy reopens, apparel exports will grow rapidly and will soon cross the pre-pandemic levels. He said the revival of the Indian economy would depend on exports till the domestic demand improves. In this case, the exporters will be led by Micro, Small, and Medium Enterprises (MSMEs).
India made export record in the first quarter
Commerce and Industry Minister Piyush Goyal said that India's economy is growing and our exports are also increasing. Despite the second wave of COVID-19, India recorded the highest ever exports in the first quarter of April-June 2021. The country's exports rose to US$ 95 billion during the June quarter this year on better performance from various sectors, including engineering, rice, oil meal, and marine products.
Merchandise exports stood at $82 billion during April-June 2018-19 and $90 billion during the last quarter of 2020-21. Exports stood at $51 billion in the June quarter of 2020-21. Whereas in the last quarter of the same financial year, exports stood at $ 90 billion. Last month, the country's exports jumped 47 percent to $32 billion. "The country's goods exports in the April-June quarter of this year are the highest ever in any quarter," Goyal said. He said the ministry would work closely with all stakeholders to achieve the export target of $400 billion in the current financial year.