Exports reach $400 billion for the first time, marking the strongest growth since 2009-10.

exports reach $400 billion

Higher engineering goods, electronics, and food products were the driving forces behind India’s first-ever export total of $400 billion, with another $10-12 billion worth of products projected to be sent during the next nine days of the financial year. Following a projected 37 percent gain from last year’s level of $291 billion, exports are expected to have grown at their quickest rate since a nearly 40% increase was recorded in 2009-10, according to figures accessible on the Reserve Bank of India’s website.
The target was met by Asia’s third largest economy nine days before the conclusion of the financial year.
During the period April to December, the figure was approximately $300 billion.
Indian goods exports reached $400 billion for the first time ever, exceeding the lofty objective of $400 billion set by the government.” I would like to congratulate our farmers, weavers, MSMEs, manufacturers, and exporters on their accomplishment. In his tweet, Prime Minister Narendra Modi said, “This is an important milestone in our Aatmanirbhar Bharat path.”
Piyush Goyal, the Commerce and Industry Minister of India, stated during a question hour in the Lok Sabha in February that “India has posted above USD 30 billion in exports for the tenth month in a row from April 2021 to January 2022.” Exports have now surpassed USD 334 billion, which is more than the total amount of exports that India has ever achieved in a 12-month period. It is an unprecedented achievement. “We are on target to achieve exports of USD 400 billion this fiscal year.”

During the current fiscal year, the Commerce Department has advocated for a variety of policies that have been selected expressly to increase export revenues and build dominance in major markets.

deccannews

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