India's goods, services exports likely to cross USD 800 bn in 2024: GTRI
India's overall exports of goods and services in 2024 has estimated to cross USD 814 billion, an increase of 5.58 per cent, according to a report by economic think tank Global Trade Research Initiative (GTRI). In 2023, the country's merchandise and services exports stood at USD 768.5 billion.
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This year, the report estimated that in 2024, merchandise exports are expected to reach USD 441.5 billion, showing a modest 2.34 per cent increase over USD 431.4 billion in the previous year.
In contrast, the services exports are estimated to grow by 10.31 per cent to USD 372.3 billion, up from USD 337.5 billion in 2023.
«India's total exports, encompassing merchandise and services, are projected to exceed USD 814 billion in 2024, reflecting a 5.58 per cent growth compared to USD 768.5 billion in 2023,» it said.
GTRI Founder Ajay Srivastava said India's export landscape is undergoing a transformation that highlights both opportunities and vulnerabilities.
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