India's exports jump 30.55% in November

Mon 18 Dec 2017, 11:06:14
India's exports rose by 30 point 55 percent to 26 point 19 billion US Dollars in November on account of improved global demand, government incentives and simplification of GST refund process. 

The data released by the commerce ministry said, the month witnessed robust growth in outward shipments of gems and jewellery, engineering goods, chemical and pharmaceutical products. 

The government has simplified the process for exporters to claim refunds under the GST. Input Tax Credit and Integrated-GST refunds for exporters are being expedited for quick unlocking of their capital.Earlier this month, the government had announced 8,450 crore rupees incentives for exporters in sectors like leather and agriculture.

Exports had witnessed a decline of 1.12 percent to 23 billion dollars in October this year, retreating from a six-month high growth rate in September.The data said, imports also grew by 19.61 percent to 40 billion Dollars in November from 33.46 billion dollars in the same month last year.

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