India's exports to cross US$ 750 billion this fiscal, says Mr. Piyush Goyal

According to Commerce and Industry Minister Mr. Piyush Goyal, the nation's exports of products and services are on pace to surpass US$ 750 billion in the current fiscal year, and negotiations to increase commerce in rupees with specific nations are at an advanced stage.

Mr. Piyush Goyal claimed that exports last year hit a record high of US$ 676 billion.

He added at the CII partnership summit, "We are advancing and getting closer to exporting US$ 750 billion worth of goods and services in 2022–2023. We are increasing rupee trade with a number of nations, many of which are at an advanced stage of dialogue and finalisation”.

India's merchandise exports during April-January this fiscal have increased to US$ 369.25 billion as against US$ 340.28 billion in the same period last year. Services exports during the 10-month period are estimated at US$ 272 billion.

Further, the minister made 10 recommendations to promote global trade. Addressing tariff and non-tariff barriers, creating a rigid and adaptable international institutional framework, and collaborating in trade and technology are some of the recommendations.

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