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Sharp growth in exports reflects pick-up in demand in western markets: TPCI

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Sharp growth in exports reflects pick-up in demand in western markets: TPCI

The Trade Promotion Council of India (TPCI) on Monday said that healthy exports growth in labour-intensive sectors such as jute, carpet, handicrafts and leather indicates that demand is picking up in the western markets. India’s exports in April jumped nearly three-folds to USD 30.21 billion on account of healthy growth in key sectors including engineering, gems and jewellery and petroleum products.

TPCI Founder Chairman Mohit Singla said that April exports growth is one of its kind optimistic and is a healthy sign, reflecting a balanced overall growth across sectors.

Not just agri and pharma but all other sectors have bounced back indicating a big confidence booster and the emergence of a stable market order, he said in a statement.

“I am particularly happy to see the growth of labour-intensive sectors such as carpet, handicrafts, leather, ceramic products and glassware, which shows that demand in the western markets is picking up as these counties are coming out of the pandemic woes gradually,” he added.

The US and Europe are key export destinations for Indian exporters.

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