BANKING AND ECONOMY
● For the first time, the value of India’s exports crossed the USD 400 billion in the Financial year 2021-22.
● The exports rose by 37% in this financial year i.e. from USD 292 billion in the financial year 2020-21.
● The sectors like petroleum products, engineering, gems and jewellery, and chemicals show healthy performance in terms of exports.
● During FY22, Indian Imports reached USD 589 billion and left a trade deficit of about USD 189 billion.
● List of India’s largest export countries: USA, China and UAE.
● India’s largest import from China.
● Union Minister of Commerce and Industry: Mr. Piyush Goyal.