India achieves its ambitious target of $400 billion goods export

Indian exports

India achieves its goal of exporting goods worth $400 billion nine days ahead of schedule.

“India set an ambitious target of $400 billion of goods exports and achieves this target for the first time. I congratulate our farmers, weavers, MSMEs, manufacturers, exporters for this success. This is a key milestone in our Aatmanirbhar Bharat journey,” Prime Minister Narendra Modi tweeted on Wednesday.

India had set a $650 billion exports target, for the current financial year, of which the target for services exports was $250 billion.

In the April-December period, the figure stood at about $300 billion.

“In December alone we touched $37 billion goods exports despite the Omicron fear factor weighing high. This month, in 15 days till January 15, we have reached $16 billion,” commerce and industry minister Piyush Goyal said in January.

Modi also posted graphics of India achieving its export target. According to those graphics, the government approach with closer interaction with states and districts; engagement with exporters and faster resolution of their issues; and actively engaging with different export promotion councils, industry associations, and other stakeholders have helped in reaching this milestone.

On average, goods worth about $33 billion were shipped every month and about $1 billion every day.

Contributing to this record healthy growth were key export sectors like petroleum products, electronic goods, engineering goods, leather, coffee, plastic, ready-made garments of all textiles, meat and dairy products, marine products, and tobacco.

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