Four months after a nationwide shutdown across India, some key indicators of the economy, including exports, foreign investments and employment numbers, suggest that economic activity in the country is gradually improving.
Data shows that exports of certain commodities have risen – spice exports, for example, surged 34 percent in rupee terms in June.
The country’s ravaged automobile sector has also improved, with total exports across categories having increased by almost three percent to more than 4.76 million vehicles in the fiscal year ended March 31.
According to the Commerce and Industry Minister Piyush Goyal, India’s balance of payments is expected to be very strong. “Exports have shown a good turnaround. We [were], in July, at about 91 percent [of the] export level of the corresponding period last year,” he said, adding that imports in the same month were at 70 percent of last year’s level. (RT)
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