India set to achieve the $400 bn exports milestone

India has clocked record exports in the first half of FY22 at $197.89 billion and is closer than ever to achieve the $400 billion annual exports milestone by the end of the year. However, the soaring global commodity prices, including of key inputs such as oil, chemicals, metals, plastic and cotton, are largely responsible for this rise. The volume growth is not commensurate with this value growth, traders and industry watchers say. Kirtika Suneja takes a look:RECORD EXPORTS$197.89 billion merchandise goods exports in Apr-SepImproved global demand supports outbound shipmentsPRODUCT STORY Apr-Sep Exports growth (%) 87033995Apr-Aug Fresh fruit & veg exports down 17.4% in volume terms, up 3.8% in $Value-added steel product exports fall 15-35% 87034005EXPORTERS SAYCarpet, handicraft export volume only 5% higher on yearLiquidity crunch, high manufacturing cost squeeze profitsEnergy crisis, high coal imports may worsen commodity inflation, hit exports20-30% rise in ocean freight, container prices since May

from Economic Times https://bit.ly/3FOwq9S
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