Praising India’s success in achieving its goods export target of USD 400 billion this fiscal, Prime Minister Narendra Modi today stressed that this is a milestone in India’s ‘Aatmanirbhar Bharat’ journey.
The highest export target of goods ever was reached nine days earlier than the March 31 deadline.
Exports increased by 37 percent to USD 400 billion on April 22-March 2021-22 compared to USD 292 billion in 2020-21.
For the first time, Indian exports of goods have reached USD 400 billion in fiscal. In 2018-19, outbound shipments have hit a record USD 330.07 billion.
“India has set an ambitious target of USD 400 billion in exports of goods and achieved this target for the first time. I congratulate farmers, weavers, SMEs, manufacturers, exporters on this success. This is a milestone in our Aatmanirbhar Bharat journey. # LocalGoesGlobal, “tweeted PM Modi.
India set an ambitious target of $ 400 Billion in exports of goods & reached this target for the first time. I congratulate farmers, weavers, SMEs, manufacturers, exporters on this success.
– Narendra Modi (@narendramodi) 23 March 2022
He posted a graph of India reaching its highest export target nine days ahead of the intended deadline.
According to the graph, the government approaches with closer interaction with states and counties; engagement with exporters and faster resolution of their issues; and being actively involved with different export promotion councils, industry associations and other stakeholders have assisted in achieving this success.
On average, goods worth about USD 33 billion are shipped every month and about USD one billion per day.
Major export sectors, which contribute to healthy growth include petroleum products, electronics, engineering goods, leather, coffee, plastics, ready -made garments all textiles, meat and dairy products, marine products and tobacco.
Commenting on the data, Federation of Indian Export Organizations (FIEO) director -general Ajay Sahai said crossing US $ 400 billion was a remarkable achievement as exporters had added over US $ 110 billion in a year to get here despite huge logistical challenges, including shortages. containers, soaring up. transportation and liquidity constraints.
“What’s more important is to build it, because we will benefit from the new free trade agreements and PLI (production -related incentives) schemes that support us,” he said.
FIEO vice-president Khalid Khan called the achievement a “big sign” and said that despite the COVID-19 export pandemic it had been “well managed”.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)