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India’s economy shows signs of recovery with huge jump in exports & imports

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Exports by one of the world’s largest economies, India, rose by 52% to $7.71 billion in the first week of June, led by sectors including engineering, gems, and jewelry, as well as petroleum products.

According to the Press Trust of India, which quoted preliminary data from the Commerce Ministry, imports surged by 83% to $9.1 billion during the period.

Statistics show that petroleum and crude oil imports skyrocketed 135% to $1.09 billion. Imports of electronic goods and pearls, precious and semi-precious stones also rose by more than 45% to $324.77 million and 111% to $294 million, respectively.

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Imports from China grew 90% to $809.53 million. Deliveries from the United States were up 89% to $410.65 million. Imports from the UAE were up 164% to about $400 million.

Exports to the US grew 60% to $500 million, exports to the UAE were up 57% to $173 million, and exports to Bangladesh surged 212% to $166.3 million

Last month, India’s overall exports grew 67% to $32.21 billion.

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