External Sectors:
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India’s merchandise exports and imports rebounded strongly and surpassed pre-Covid levels during the current financial year.
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There was significant pickup in net services with both receipts and payments crossing the pre-pandemic levels, despite weak tourism revenues.
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Net capital flows were higher at USD 65.6 billion in the first half of 2021-22, on account of continued inflow of foreign investment, revival in net external commercial borrowings, higher banking capital and additional Special Drawing Rights (SDR) allocation.
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As of end-November 2021, India was the fourth largest forex reserves holder in the world after China, Japan and Switzerland.
