Prime Minister Narendra Modi on Wednesday said the country has achieved the highest-ever goods exports target of $400 billion during the current financial year, a 37 per cent jump over the previous fiscal. The exports in FY2020-21 had stood at $292 billion.
“India set an ambitious target of $400 billion of goods exports and achieves this target for the first time ever. I congratulate our farmers, weavers, MSMEs (micro, small and medium enterprises), manufacturers and exporters for this success,” the prime minister said in a tweet.
The exports target for 2021-22 was achieved on March 22, nine days ahead of its schedule, according to the tweet. “This is a key milestone in our Aatmanirbhar Bharat journey. #LocalGoesGlobal,” he added.
During the current financial year, an average of $46 million worth of exports were done every hour, the tweet said.
In a tweet, the Federation of Indian Export Organisations said, “It is a historic day for India as India has achieved the record-breaking USD 400 billion goods exports milestone, under the able and decisive leadership of Hon’ble PM Shri @NarendraModi Ji.”
Commerce & industry minister Piyush Goyal in a tweet said, “PM @NarendraModi ji’s clarion call of #LocalGoesGlobal is a reality. Under your visionary leadership, India has scripted history by achieving an ambitious target of USD 400 billion of goods export within a single year.” He added that the Make in India lion is roaring aloud across the world.
The textiles ministry tweeted, “Atmanirbhar Bharat displays record-breaking performance. #LocalGoesGlobal.”
While sharing the exports data, the prime minister also mentioned actively engaging exports promotion councils, the government’s approach at states and districts levels, and closer engagements with exporters and faster resolution of issues.
India’s merchandise export in April 2021-February 2022 was $374.05 billion, an increase of 45.80 per cent over $256.55 billion in April 2020-February 2021 and an increase of 28.16 per cent over $291.87 billion in April 2019-February 2020.
The country’s merchandise import in April 2021-February 2022 was $550.12 billion, an increase of 59.21 per cent over $345.54 billion in April 2020-February 2021 and an increase of 24.11 per cent over $443.24 billion in April 2019-February 2020.
The trade deficit during April 2021-February 2022 stood at $176.07 billion.
The cumulative value of non-petroleum exports in April 2021-February 2022 was $319.09 billion, an increase of 36.16 per cent over $234.36 billion in April 2020-February 2021 and an increase of 26.07 per cent over $253.10 billion in April 2019-February 2020.
The cumulative value of non-petroleum imports in April 2021-Feb 2022 was $408.63 billion, showing an increase of 49.61 per cent compared to non-oil imports of $273.12 billion in April 2020-Feb 2021 and an increase of 26.61 per cent compared to non-oil imports of $322.74 billion in April 2019-Feb 2020.
In February 2022 alone, merchandise exports stood at $33.81 billion, an increase of 22.36 per cent over $27.63 billion in February 2021 and an increase of 21.88 per cent over $27.74 billion in February 2020.
The goods imports in February 2022 stood at $55.01 billion, an increase of 34.99 per cent over $40.75 billion in February 2021 and an increase of 45.12 per cent over $37.90 billion in February 2020.
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