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Foreign trade in 2021: Record exports, Switzerland becomes 4th biggest import source

Commerce Department data also shows that while export of raw material helped accelerate the growth in exports, higher-valued finished products like engineering goods and electronics slowly continued to claim their place in India's export basket.

January 02, 2022 / 10:49 PM IST

After a disastrous 2020, India’s trade picked up in 2021 as global demand from its biggest markets rose. Exports reached a new high but they were closely followed by burgeoning imports which signal both healthy domestic demand and foreign exchange losses.

On the other hand, import dependence on China was reduced for key items as more domestic value addition meant lower shipments of electronics from China.

But despite a series of restrictions aimed at Chinese goods, imports from the country shot up in 2021. Moneycontrol takes a deep dive into the data.

Headline figures rise