Exports in FY23 to reach about US$ 770 billion: Commerce and Industry Ministry

According to Union Minister for State for Commerce and Industry Ms. Anupriya Patel, India's exports of goods and services for the current fiscal year that ends in March would be close to US$ 760-770 billion. In FY2021-22, the nation's exports of goods and services totalled US$ 672 billion. India accounts for 1.8% of world merchandise trade and 4% of global services trade.  

The minister also highlighted that the Indian economy is among the fastest growing in the world and that there is a tremendous opportunity for Indian businesses, particularly brands, to increase their presence in the global market due to the expanding globalisation of commerce.

Federations of Indian Exports Organisations President, Mr. A Sakthivel stated we would generate US$ 770 billion this year. To realise Prime Minister Mr. Narendra Modi's goal of turning India into a hub for global manufacturing, the Sourcex India event will promote Indian firms on the global stage.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.