New Delhi: India for the first time has logged its highest ever goods export target of $400 billion on March 23, nine days ahead of schedule.
Prime Minister Narendra Modi in a statement on Twitter said, “India set an ambitious target of $400 Billion of goods exports and achieves this target for the first time ever. I congratulate our farmers, weavers, MSMEs, manufacturers, exporters for this success. This is a key milestone in our Aatmanirbhar Bharat journey.”
Modi has called it’s a key milestone for India’s Aatmanirbhar Bharat.
This statement on Twitter comes at a time when India’s services and manufacturing activity held steady in February, even as the Russia-Ukraine conflict raises inflation and clouds growth in the consumption-driven economy.
India, Asia’s third-largest economy, had set this ambitious export target for FY22. In the April-December period the figure stood at about $300 billion.
Commerce and Industry Minister Piyush Goyal, in his reply during the question hour in the Lok Sabha in February, said, “For 10th month in a row, April 2021 to January 2022, India has posted over $30 billion of exports. It is a record, we have already crossed $334 billion of exports which is more than the highest ever that India has done in full 12 months period. We are well on track to achieve $400 billion of exports.”
To maximise export earnings and establish dominance in key markets, a new range of initiatives, handpicked specifically, have been pushed by the commerce and industry department in the current fiscal year.