Commerce Secretary Anup Wadhawan has said that India’s exports are steadily recovering and it is expected to record a healthy growth rate in March. He also said the country's merchandise exports were impacted on account of the COVID pandemic. He said ‘but since then, there is a steady cumulative recovery. Our exports turned positive in September 2020. After September, there was borderline negative (growth) for a few months, then in January 2021, it was positive again.’
Wadhawan has stated that February was more or less even and now March is again promising to be significantly positive. He noted that India's exports borne the shock well and it has recovered quickly from the pandemic. He also said there is a need to recover in areas like gems and jewellery and petroleum and there is a need to sustain the gains in areas like pharma, and food products.
Taking about trade agreements, he said that India has implemented 10 free trade pacts and six preferential trade agreement. He said ‘we have FTAs (free trade agreement) with major economic powers including with Japan, Korea and ASEAN, and we have not done badly in FTA and we are serious about growing this space.’ He pointed out that India is emerging as a major investment destination hub in the world and the government is taking steps in that direction. He added that huge investment opportunities are there in the services sector like finance, and insurance.
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