India Export: Export of Indian goods, services ready to cross $760 billion – Piyush Goyal

Export: Commerce Minister Piyush Goyal said that the export of Indian goods and services will cross the level of $760 billion in the current financial year. Addressing the annual session of industry body Assocham, Piyush Goyal said the country’s goods and services exports are set to touch an all-time high of $422 billion and $254 billion, respectively, in 2021-22, taking total shipments to $676 billion. . 

Exports to reach $760 billion by the end of this year

Piyush Goyal said, "Obviously services have grown much faster, but growth in both (exports of goods and services) is good. Probably we will end the year with around $760 billion (in exports)." He informed that this year already the export of goods and services has crossed the figure of $750 billion and it is expected to go up to $760 billion. Despite facing global challenges such as recession, inflation and high interest rates, this achievement of the country would be commendable.

Challenges of inflation, recession and high interest rates in the world

He further said that India has emerged as a bright spot at a time when the whole world is facing recession, high inflation and high interest rates. Goyal stressed that the government’s focus in the last nine years has been to ensure that the foundation of the economy is strong. The minister also said that the industry has welcomed the free trade agreement with UAE and Australia.

What about the free trade agreement

He Said that the pace of India’s Free Trade Agreements (FTAs) has not come at the cost of compromising on the quality of the agreements and this has been done after extensive stakeholder consultation.

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