India’s exports in April jumped nearly three-folds to $30.21 billion on account of a healthy growth in key sectors, including engineering, gems and jewellery, and petroleum products, even as trade deficit widened to $15.24 billion, according to the commerce ministry’s preliminary data released on Sunday.

The country’s merchandise exports were to the tune of $10.17 billion in April 2020. Trade deficit in that month was $6.92 billion. Imports too rose by over three-folds to $45.45 billion last month against $17.09 billion in April 2020.

“India’s merchandise exports in April 2021 were $30.21 billion, an increase of 197.03 per cent over $10.17 billion in April 2020 and an increase of 16.03 per cent over $26.04 billion in April 2019,” the ministry said in a statement.

In percentage terms, the growth rate in exports and imports are at a record high, mainly because of the base-effect. Exports shrank by a record 60.28 per cent in April 2020 because of the pandemic induced lockdown. In March this year, exports grew 60.29 per cent to $34.45 billion.

Infrastructure cost

As many as 462 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns totalling more than Rs 4.36 lakh crore, according to a report.

The ministry of statistics and programme implementation monitors infrastructure projects worth Rs 150 crore and above. Of the 1,737 such projects, 462 reported cost overruns and 557 were delayed.

“Total original cost of implementation of the 1,737 projects was Rs 22,33,409.53 crore and their anticipated completion cost is likely to be Rs 26,69,649.35 crore, which reflects overall cost overruns of Rs 4,36,239.82 crore (19.53 per cent of original cost),” the ministry’s latest report for March 2021 said.

Fuel sales drop

The second wave of coronavirus has pummelled fuel sales in April as local restrictions have stifled demand.

“At the end of April, overall fuel demand is down by about 7 per cent from pre-Covid level of April 2019,” Arun Singh, director for marketing and refineries at Bharat Petroleum Corporation Ltd (BPCL), said.

Coal import

India’s coal import is expected to be subdued in the coming months on account of various factors like prevailing Covid situation, high coal stock in the system and higher international prices, according to mjunction. Coal import fell 12.62 per cent to 215.92 million tonnes (MT) in 2020-21 from 247.10 MT in 2019-20.