Feb exports near $34 billion, target for FY22 in sight
- IBEF
- March 2, 2022
Despite the Ukraine situation, the administration is optimistic about exceeding the US$ 400 billion export target for the current fiscal year, with February shipments pegged to be at US$ 34 billion. While the commerce department will issue early figures, initial estimates put the value of shipments out of the nation between April and February at roughly US$ 370 billion, sources told TOI.
Despite the obstacles, including a lack of ships and access to the Russian and Ukrainian markets, the sources said the US$ 400 billion goal was within reach. According to the department's study, the conflict may not have a significant impact on India's exports, given that overall sales to Russia and other CIS nations totalled US$ 3.4 billion last year, while imports from this region totalled US$ 6.2 billion in the first nine months of this year.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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