Exports rise 80% to $7 billionduring May 1-7

Continuing a constructive development, India’s exports grew by 80 per cent to $7.04 billion through the first week of this month, in response to preliminary information of the commerce ministry.
Exports throughout May 1-7 final 12 months stood at $3.91 billion and $6.48 billion in the identical week of May 2019, information confirmed.
Imports too rose by 80.7 per cent to $8.86 billion throughout May 1-7, 2021 as towards $4.91 billion in the identical interval final 12 months and $10.39 billion in 2019.
India’s exports in April jumped almost three-folds to $30.21 billion from $10.17 billion in the identical month final 12 months.
Major export commodities that are recording wholesome development embody gems and jewelry, jute, carpet, handicrafts, leather-based, digital items, oil meals, cashew, engineering, petroleum merchandise, marine merchandise and chemical compounds.
Federation of Indian Export Organisations (FIEO) President S Okay Saraf stated that the exports development is encouraging and order books of exporters are wholesome.

“I will urge the government to look into the issues of MEIS (merchandise export from India scheme). RoDTEP (remission of duties and taxes on export products) rates should allso be announced immediately to further push the shipments as profitability of exporters are getting impacted,” he stated.
Power consumption grows almost 25%
NEW DELHI: Power consumption within the nation grew 25 per cent within the first week of May to 26.24 billion items (BU) over the identical interval final 12 months, displaying constant restoration in industrial and industrial demand of electrical energy, in response to energy ministry information.
Power consumption within the first week of May 2020 was 21.05 BU. The energy consumption in your complete month of May final 12 months was 102.08 BU.

On the opposite hand, peak energy demand met, which is the very best provide in a day, through the first week of this month remained effectively above the very best file of 166.22 GW in May 2020 besides on May 2, when it was 161.14 GW.
During the primary week of May this 12 months, peak energy demand met or the very best provide in a day touched the very best stage of 168.78 GW (on May 6, 2021) and recorded a development of almost 22 per cent over 138.6 GW (peak met) recorded in the identical interval in 2020 (on May 7, 2020).
The energy consumption in April grew 41 per cent to 119.27 BU.