India’s Exports Hit $400 Billion For 1st Time Ever, PM Modi Calls It ‘Key Milestone’
Last December, India's merchandise exports stood at $37.29 billion, compared to a similar figure of over $27.22 billion 12 months ago
Mumbai: Prime Minister Narendra Modi on Wednesday congratulated people, especially farmers, MSMEs and exporters, as India achieved the target of reaching $400 billion in exports in the current fiscal for the first time.
Taking to Twitter, the Prime Minister described the landmark as a ‘key milestone’ in the Aatmanirbhar Bharat initiative.
“India set an ambitious target of $400 billion of goods exports & 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,” PM Modi posted on Twitter.
https://twitter.com/narendramodi/status/1506474220209184769?s=20&t=398IwHAUI3Zndhty_O-X2w
On average, goods worth USD 46 million are exported every hour, goods worth USD 1 billion are exported daily and USD 33 billion are exported every month. Exports in FY 2020-21 stood at USD 292 billion while in 2021-22, exports stood at USD 400 billion with a growth of 37 per cent.
Earlier in February, the Commerce and Industry Minister Piyush Goyal had said, “For 10 months in a row, continuously, from April 2021 to January 2022, India has posted over USD 30 billion of exports. We have already crossed USD 334 billion exports which is more than the highest ever that India had done earlier in a full 12-month period.”
On March 7, the Minister of Commerce and Industry also said that India’s goods exports have reached USD 390 billion by March 14 of the current financial year and certainly more than USD 400 billion during the year ended March 31, 2022.
According to the commerce ministry, India achieved exports of $37 billion in December 2021, the highest in a month and a 37 per cent jump from December last year. Last December, India’s merchandise exports stood at $37.29 billion, compared to a similar figure of over $27.22 billion 12 months ago.
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