A significant increase in India’s exports to United States and China, coupled with a dip in imports from the two countries has been witnessed this year, owing to Prime Minister Narendra Modi government’s push.
As per data received from the Centre, India’s exports to USA in September 2020 stood at USD 5.1 billion, which is 15.5 per cent more than the figures of the corresponding month (USD 4.4 billion) in 2019.
Further, the imports from USA decreased a significant 34.3 percent to USD 1.8 billion in September 2020, when compared to the figure of USD 2.8 billion in September 2019.
Similarly, imports from China, which is one of the biggest manufacturers of commodities across sectors, dipped to USD 27.4 billion in the period between April to September this year. The imports, therefore, have shrunk 24.5 percent from the USD 36.3 billion figure for the same period from last year.
Indian exports to China have, meanwhile, increased by 26.3 per cent to reach USD 10.6 billion in the aforementioned period, which is a significant increase from the figures of USD 8.4 billion for the period between April-September 2019.