India’s Exports To US And China Witness Significant Surge; Imports On The Decline
India has recorded a significant jump in exports to the United States (US) and China in the first six months of FY21 ending September while also registering a significant dip in imports from the two nations, reports Livemint.
Exports to China surged by 26.3 per cent during the first six months between April to September this year compared to the corresponding period last year, rising from $8.4 billion to $10.6 billion. Meanwhile, the imports from China recorded a decline of 24.5 per cent during the same period, falling from $36.3 billion to $27.4 billion.
Similarly, the exports to the US jumped by 15.5 per cent in September this month compared to the corresponding period last year, rising from $4.4 billion to $5.1 billion. Meanwhile, the imports from the US declined by a whopping 34.3 per cent during the same period, falling from $2.8 billion to $1.8 billion.
The jump in exports to China and US bodes well for the Government's Make in India programme and Aatmanirbhar Bharat, which are both aimed at reducing the nation's dependency on other nations while also boosting manufacturing activity to serve not just the domestic markets, but also the foreign ones.