For the First Time ever, Indian Goods Exports Reach $400 bn: PM Modi

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For the First Time ever, Indian Goods Exports Reach $400 bn: PM Modi
23 Mar 2022
6 min read

News Synopsis

On Wednesday, Indian Prime Minister, Narendra Modi announced that for the first time ever, India has exported goods worth $400 billion. Mr. Modi called this a "key milestone" for his government’s Aatmanirbhar Bharat for self-reliance in manufacturing. Indian Prime Minister made the statement on Twitter as India’s services and manufacturing activity remained steady in February, even as the war in Ukraine clouds the outlook for prices and growth in the consumption-driven economy. He in his tweet wrote: "India set an ambitious target of $400 Billion of goods exports & achieves this target for the first time ever. I congratulate our farmers, weavers, MSMEs, manufacturers, exporters for this success.” He also informed that India achieved this target nine days before the deadline. This is surely positive news for the economy of the nation. The exports in the previous financial year 2020-21 were USD 292 billion. The exports in this financial year registered a growth of 37 percent taking it to $400 bn. Earlier in the month of February, Piyush Goyal, Commerce and Industry Minister of India said: "For 10 months in a row, continuously, from April 2021 to January 2022, India has posted over USD 30 billion of exports. We have already crossed USD 334 billion exports which is more than the highest ever that India had done earlier in a full 12-month period."