Clear indications of economic revival in India despite Covid disruptions, says Goyal

New Delhi : With exports logging stellar performance and FDI inflows robust, Union Minister for Commerce and Industry on Saturday said that there are clear indications of economic revival in India despite Covid disruptions.

He said that exports from India in the three weeks of July reached US$ 22.48 billion, up 45.13% over the corresponding period last year. The outward shipments were higher by 25.42% when compared with the same period of 2019-20.

Goyal said that the highest ever merchandise have been logged for exports in a quarter (Q1 2021-22, US$ 95 billion) in history of India (+18% than Q1 of 2019-20).

“Indian growth story is now being reflected across all the sectors from EoDB (ease of doing business) to Exports and from Startups to Services, India is taking giant leaps in each sector,” Goyal noted.

Addressing the Plenary Session of CII- Horasis India Meeting 2021 on India’s Emerging Industry & Trade Architecture, the Union Minister said that India is today the preferred destination for Industry, Investment & Innovation.

“This situation has arisen as a result of consistent efforts to bring structural changes in the last 7 years. Some of these key changes include large scale digitisation, modernisation, simplification and facilitation,” he said.

Speaking about the success of start-ups in the country the Minister said, “There is a new energy in our startups space. In just first 6 months of 2021, India has seen 15 more unicorns.”


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