India’s Exports rise 80% to $ 7.04 billion during the first week of May according to the information preliminary data presented by the commerce ministry. This figure shows the positive sign in the economic growth and a big sigh of relief for the Government. Earlier, in the last year pandemic broke down the economy and India’s GDP reached -23%.
To overcome the Indian Economy from the pandemic, the Government introduced many laws and loosened some tight policies, and due to the same exports rise 80%.
India’s exports rise 80% to $7 billion
Similarly, the export growth has also been noticed in 2019 and it was $30.21 billion against $10.17 billion in April 2020. So, consistent growth in the export industry shows a positive sign in this pandemic. However, still many states have imposed lockdown and some states are going for the partial lockdown and despite the same, the rise in the export business is a big hope for the Indian Economy.
Most of the countries in the world applied partial trading from India, but the demand of the Commodities enabled them to go for full trading even in the pandemic.
Moreover, he requested the Government of India to smoothen the export policy and to reduce the taxes and duties on the export products. If this will happen, then as per the current demand for Indian products, the export industry will boost the Indian economy.
FIEO stands for Federation of Indian Export Organization that comes under the Ministry of Commerce. The organization aims to support and assist the Indian enterprises and exporters in the foreign market so that they can trade freely.
To perform the trade activity, FIEO Registration is a must and the same can be done on FIEO’s official website. If you are an entrepreneur and started a trading business, then reach the FIEO website, fill the application form, attach the documents, and then submit the same. Once the documents are verified, then you will get the certification from FIEO.
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