India's exports now cross USD 418 billion in FY22

Commerce and Industry Minister Piyush Goyal has said that the country’s goods exports have now crossed 418 billion US dollar mark. Addressing the media on Sunday in New Delhi on India's historic export figures for the financial year 2021-22, Goyal said, it is an important milestone in the journey towards an Aatmanirbhar Bharat. He said, every sector of the economy, farmer, entrepreneur, MSME, and state governments worked together to achieve this lucrative goal. He said that exports have exceeded 40 billion dollars in March alone, which has created the history of highest exports in a month. Goyal said that India had truly gone from local to global in response to the Prime Minister Narendra Modi’s call. He expressed confidence that India's economy is poised to break a number of records.

Goyal said, Government is now working on rolling out the District Export Hub Initiative to strengthen the export infrastructure, and logistics at the district level to facilitate exports.He said, India’s diversified export portfolio in 2021-22 show India’s manufacturing abilities as well as growth in hi-tech goods, electronics and agricultural products. The Minister said, the export of wheat in 2019-20 which was only two lakh tonnes, has increased to 21.55 lakh tonnes in 2020-21. Goyal said, India will continue to export wheat in a big way to meet the needs of countries that are not getting supplies from conflict areas. He said wheat export is likely to exceed ten million tonnes in 2022-23. The Minister said, higher agricultural exports signify the ability of Indian farmers to meet the requirement of 1.35 billion population and yet produce a surplus to export to rest of the world.