Indian exports to Bangladesh increase by 64.5%
India’s merchandise exports to Bangladesh increased by 64.5% in the fiscal year 2021-22 (April to March) compared to the previous fiscal year 2020-21, data showed today. of the Ministry of Commerce.
Rising exports to Bangladesh have helped India’s total merchandise exports to reach $417.8 billion in FY 2021-22 and they are expected to exceed $418 billion to hit a record high in India’s export history.
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India’s merchandise exports have also witnessed a significant increase to other countries, especially developed countries, Indian Commerce Minister Piyush Goyal told reporters in New Delhi.
However, the minister did not mention the amount of Indian exports to Bangladesh.
Exports of major commodities include petroleum products (152.1%); cotton yarn, fabrics and handloom products (55.1 percent) and precious stones and jewelry (49.6 percent) among other products.
One of the impressive growths has been seen in the agricultural sector, especially during the Covid-19 pandemic, Goyal said.
He also said that India would increase the supply of wheat to war-affected countries in Ukraine.
“We will continue to export wheat massively to meet the needs of countries not sourcing from conflict areas. We will likely exceed our wheat exports by more than 10 million tonnes in 2022-23,” Goyal said.