Top News

New Delhi : Recently, India’s Ministry of Commerce has presented some figures regarding imports and exports. On the basis of which it has been learned that India’s Goods Export to America has increased in the month of May. In the month of May, this figure gained 16.93 percent. Also, with this increase, exports have now reached $ 8.83 billion.

In the month of May, India reduced the amount of import from the US and the import has come down to $ 3.62 billion with this decline. According to official data, India’s exports increased by 21.78 percent to $ 17.25 billion in the first 2 early months of the current financial year i.e. April to May, while the import declined by 25.8 percent to $ 8.87 billion.

Special Secretary in the Department of Commerce, Rajesh Aggarwal, when asked about the impact of high tariff duty imposed in the US on steel, aluminum and vehicle parts, said that India does not export much of steel and aluminum to America. Aggarwal has said that as far as vehicles are concerned, there is a uniform tariff for all countries, so we have not seen any major impact on this sector.

However, he admitted that this system may see some effect for a long time. He said that if some countries are exempted from this tariff, then it can affect Indian companies. The US has imposed 25 percent tariff on the import of these products.

SIAM presented reports regarding passenger vehicle, fall on annual basis in the month of May

However, in the month of May, South Africa, Netherlands, Britain, United Arab Emirates i.e. UAE, Saudi Arabia, Bangladesh, Italy, France, Malaysia and Brazil have declined in exports. Last month, the consignment from Russia, Iraq, Saudi Arabia, Indonesia and Qatar has declined on the import of the import. At the same time, there was an increase in imports from UAE, Japan, Korea, Singapore and Germany.

(With agency input)