Confident of over $800 billion exports in goods, services this fiscal, says Piyush Goyal
India's goods and services exports are expected to cross USD 800 billion this fiscal despite global challenges, Commerce and Industry Minister Piyush Goyal said on Saturday. In 2023-24, the shipments stood at USD 778.2 billion (goods USD 437.1 billion and services USD 341 billion).
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He said that the global situation is serious as war is still ongoing between Ukraine-Russia and Israel-Hamas, and the Red sea crisis.
The minister added that there are also elections in some of the major democracies like in Europe.
«In such a situation it's a positive sign that our exports are growing (9 per cent growth in May) and ...this also reflects that the world wants to do trade and investments with India. We are confident that this year we will have over USD 800 billion exports and it will be a historic record,» Goyal told reporters here.
He was here to participate in a programme of gems and jewellery exporters.
Goyal added that for the USD 800 billion exports, the ministry is working on specifics with Indian missions abroad and export promotion councils.
He added that last year the current account deficit (CAD) has also reduced...our exports will increase, manufacturing will get a boost
India recorded a current account surplus of USD 5.7 billion or 0.6 per cent of GDP in the March quarter. This is the first time in ten quarters that the crucial metric of the country's
