News Bureau

March 29, 2023

India’s overall exports cross an all-time high

Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal announced that India’s overall exports, that includes services and merchandise exports, have crossed US$ 750 Billion. This is an all-time high and this achievement of 750 billion comes in the 75th year of independence as we celebrate the Azadi Ka Amrit Mahotsav.

In his address, Goyal highlighted how the exports have risen from US$ 500 Billion in 2020-2021 to this figure in extremely challenging times.

In his keynote address at the Assocham Annual Session 2023: Strengthening India's Competitiveness in New Delhi, the Minister stated that there has been healthy growth in both merchandise and service sectors. He said that given the fact that the whole world is in recession, inflation is at an all-time high for most developed countries, interest rates are shooting up and there’s a sense of doom and gloom in the rest of the world, India’s performance fills us with pride.

The Minister recalled that Prime Minister Narendra Modi had said from the ramparts of the Red Fort on Independence Day that we should get rid of the colonial mindset and recognise our roots and our strengths. He noted that the 5 Prans articulated by the PM will lead to a developed Bharat@100 in 2047 when we celebrate the centenary of our Independence and said that we all need to work with a sense of duty in the spirit of these 5 Prans.

The Minister said that this is India's moment in the Sun and lauded the vision of the Prime Minister who had said that this is the time, this is the right time. He further said that the G20 presidency has given a unique opportunity to position India globally and this must be leveraged by the industry and businesspersons to showcase India’s business across the world.


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