Indian Economy News

India’s overall exports is projected to scale new heights, which is growing at 13.84% during FY23 over FY22 to achieve US$ 770.18 billion worth of exports

India's total exports (including both goods and services) are projected to reach US$ 66.14 billion in March, 2023. The overall exports from India (including both goods and services) are anticipated to increase by a positive 13.84% over FY22 (April-March) to achieve US$ 770.18 billion in FY23.

In March, 2023 the merchandise exports were US$ 38.38 billion as compared to US$ 44.57 billion in March, 2022. Whereas, in FY23, the merchandise exports were US$ 447.46 billion.

Non-petroleum and non-gems & jewellery exports in March, 2023 were worth US$ 30.20 billion, compared to US$ 30.99 billion in March, 2022. On the other hand, non-petroleum and non-gems & jewellery exports during FY23 (April-March) was US$ 314.98 billion, as compared to US$ 315.43 billion in FY22 (April-March).

As of March, 2023, the expected value of services exported is US$ 27.75 billion and in FY23 (April-March) is US$ 322.72 billion.

13 of the 30 important industries for exports of goods saw growth in March, 2023 compared to the same month in the previous year (March, 2022). Among them are oil meals (156.56%), oil seeds (99.5%), electronic goods (57.36%), coffee (17.86%), marine products (12.85%), fruits and vegetables (11.37%), rice (10.02%), ceramic products & glassware (9.73%), iron ore (6.85%), drugs & pharmaceuticals (4.19%), meat, dairy & poultry products (3.44%), tobacco (3.04%), and cereal preparations & other processed goods (2.7%).

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