India’s exports cross 418 billion dollar mark in 2021-22

RNS: India’s goods exports have now crossed 418 billion US dollar mark in the financial year 2021-22.

This is a historic export figure for the country; every economy sector, farmer, entrepreneur, MSME, and state governments worked together to achieve this lucrative goal. It’s an important milestone in the journey towards an Aatmanirbhar Bharat, said Piyush Goyal, Commerce and Industry Minister. He was addressing the media in New Delhi.

The minister said exports have exceeded 40 billion dollars in March alone, which has created the history of highest exports in a month. Expressing hope that India’s economy is poised to break many records, Goyal said, “India had truly gone from local to global in response to the Prime Minister’s call.”

Our diversified export portfolio in 2021-22 shows India’s manufacturing abilities and growth in hi-tech goods, electronics, and agricultural products. The export of wheat in 2019-20 which was only two lakh tonnes, has increased to 21.55 lakh tonnes in 2020-21, he said.

Wheat export is likely to exceed ten million tonnes in 2022-23 though the higher agricultural exports signify the ability of Indian farmers to meet the requirements of 1.35 billion population and yet produce a surplus to export to rest of the world.

India will continue to export wheat in a big way to meet the needs of countries that are not getting supplies from conflict areas. The 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, the minister said.

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