The buyer could either be a private player or the government of a country. In simple terms, exports are goods (services in some cases) produced in one country and sold to buyers in another country. Several economists have highlighted that higher exports help nations to grow rapidly in terms of GDP and domestic output. The amount of merchandise a country exports plays a crucial role in revenue generation and economic growth. Read | India’s exports continue upward climb in May, trade deficit hits 8-month low DEFINITION OF EXPORTS AND IMPORTANCE In 2021, Indian exports seem to be rising faster than ever. The data released by the Ministry of Commerce indicates that Indian exports have gradually grown after the first wave of the Covid-19 disrupted world trade. ![]() It is an increase of 47.91 per cent over the $23.78 billion in July 2020 and an increase of over 34 per cent over the $26.23 billion in 2019. Merchandise exports from India hit a record high of $35.2 billion in July 2021 - the highest-ever monthly figure ever in the country’s history.
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