India outpaces its $400 billion export aim ahead of schedule

On March 23, India met its highest-ever goods export goal of $400 billion, nine days ahead of schedule. This ambitious export target has been established for FY22 by Asia’s third largest economy. Between April and December, the figure was around $300 billion.

“India set an ambitious target of $400 Billion of goods exports and achieves this target for the first time ever. 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.

In a reply during the question hour in Lok Sabha in February, Commerce and Industry Minister Piyush Goyal said, “For 10th month in a row, April 2021 to January 2022, India has posted over USD 30 billion of exports. It is a record, we have already crossed USD 334 billion of exports which is more than the highest ever that India has done in full 12 months period.. We are well on track to achieve USD 400 billion of exports.”

The Commerce Department has pressed a number of programmes in the current fiscal year, all of which were hand-picked to enhance export revenues and create control in major markets.