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Exports hit record in FY19, surpass earlier FY14 peak

NEW DELHI: Despite single-digit growth, India’s exports hit a new high of $331 billion in the last financial year, but higher imports pushed up the trade deficit . In March, as 20 of the 30 major product segments saw higher shipments, exports expanded 11 per cent to reach $32. In fact, the growth in March was the fastest increase in five months, helping the government scale a new peak during the fifth year of its term. Exports are seen as a weak link in the economic growth story, with both BJP and the Congress pledging to focus on reviving exports. Also, it will cushion our exports from global volatility and shocks in the long run,” said Mohit Singla, president of Trade Promotion Council of India, an industry lobby group.

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