Showing signs of significant improvement, the country’s exports in July reached almost the level of the corresponding month last year, Commerce and Industry Minister Piyush Goyal said on Tuesday.
He said several indicators were reflecting that economic activities were reviving in the country.
“Our exports have almost reached last year’s July level, with nearly 90% of our export of July 2019 having come back. And, in fact if we were to remove the oil-related exports, where we are largely a small value adder… we are 95% plus on the revival of our exports,” he said.
Exports fell for the fourth straight month in June, declining 12.4% to $21.9 billion on weak global demand due to COVID-19.