India's goods, services exports may cross $750 bn this fiscal: Goyal
The Hindu
Due to the global demand slowdown, India's exports contracted for the second consecutive month in January, dipping by 6.6% to $32.91 billion
India's goods and services exports are expected to cross $750 billion this fiscal despite the global economic uncertainties, Commerce and Industry Minister Piyush Goyal said on Saturday.
In 2021-22, the country's goods and services exports touched an all-time high of $422 billion and $254 billion respectively, taking the total shipments to USD 676 billion.
“Last year we crossed a record $650 billion of goods and services (exports). This year, we are aiming for an even bigger record…We have crossed last year's figure already…We will hopefully cross $750 billion (this year),” he said while speaking at the Raisina Dialogue here.
Due to the global demand slowdown, India's exports contracted for the second consecutive month in January, dipping by 6.6% to $32.91 billion.
During April-January this fiscal, goods shipments rose by 8.5% to $369.25 billion, while services exports were estimated at $272 billion in the period.
The Minister said that sectors which would help in promoting exports include manufactured goods, agri products, labour intensive items, and high quality products.
He expressed confidence that by 2030, India's goods and services exports would touch $2 trillion.