India achieves $400 billion goods export target for the first time, PM Modi hails milestone
India achieved the highest ever exports target nine days ahead of the intended deadline
India's merchandise exports touched an all-time high of $400 billion on Wednesday, a 37% jump over the previous fiscal, driven by an upsurge in shipments.
Prime Minister Narendra Modi hailed the ambitious target of exporting goods as a key milestone in the country's journey towards Aatmanirbhar Bharat for self-reliance in manufacturing.
PM Modi tweeted that the country achieved the highest ever export target nine days ahead of the intended deadline.
"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, manufacturers, exporters for this success. This is a key milestone in our Aatmanirbhar Bharat journey," PM Modi tweeted.
During the current financial year, an average of $46 million worth of exports were done every hour, the tweet said.
While sharing the exports data, PM Modi also mentioned actively engaging exports promotion councils and industry associations, the government’s approach of closer engagement at states and districts levels and faster resolution of pertaining issues as a key catalyst to India achieving the $400 billion exports target.
Union Minister of Commerce and Industry, Piyush Goyal had in February informed the Lok Sabha that for the 10th month in a row, April 2021 to January 2022, India posted over $30 billion of exports.
"It is a record; India’s merchandise exports have crossed $390 billion till March 14 of the current financial year and will certainly cross $400 billion during the year ending March 31,” he had said while addressing an event by Automotive Component Manufacturers Association (ACMA).