After six straight months of decline, India’s exports of goods increased 2.91 per cent year-on-year in February to $27.65 billion propped by sectors such as petroleum, engineering goods, electronics, chemicals and pharmaceuticals.

Imports during the month increased 2.48 per cent to $37.50 billion which led to widening of the trade deficit marginally to $9.85 billion, from $9.72 billion in the same month last year, according to figures released by the Commerce & Industry Ministry on Friday.

Despite the overall increase, exports from major sectors including gems & jewellery, ready-made garments, leather and most agricultural produce, including meat and rice, posted a decline during the month.

Some exporters fear that the coronavirus scare could affect shipments adversely in the months to come and the government should step in with adequate measures. EEPC Chairman Ravi Sehgal said: “Though exports in Februarymanaged to grow, the outlook looks grim due to the pandemic coronavirus which has affected almost all countries in the world. Global trade is in a state of a logjam with the entire supply chain getting disrupted.” The government should provide immediate relief to support exports, particularly in the job-oriented SME sectors, he added. The impact of the pandemic will be more evident in the export figures for March, according to exporters’ body FIEO.

Total exports in the April-February 2019-20 period was 1.5 per cent lower at $ 292.91 billion. Imports for the period declined 7.36 per cent to $436.03 billion. Trade deficit in the 11-month period narrowed to $143 billion compared to $173 billion in the same period in 2018-19.

Gold imports declined 8.53 per cent to $2.3 billion while silver imports declined 41.95 per cent to $106 million.

Last fiscal, exports were valued at $331 billion which was about 9 per cent higher than the year before. Next month, exports have to grow over $38 billion to post an increase over last year’s figures.

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