India Creates History as Export Crosses 400BN

India Creates History as Export Crosses 400BN

For the first time ever exports from India’s merchandise exports increased by 37 per cent to USD 400 billion during April-March 22, 2021-22 against USD 292 billion in 2020-21.

Hailing India’s success in achieving its goods export target of USD 400 billion this fiscal, Prime Minister Narendra Modi asserted today that this is a key milestone in India’s ‘Aatmanirbhar Bharat’ journey.

The highest ever goods export target was achieved nine days ahead of the March 31 deadline.

“India set an ambitious target of USD 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. #LocalGoesGlobal,” PM Modi tweeted.

On average, every hour USD 46 million goods are exported, USD 1 billion goods are exported everyday and USD 33 billion every month.

On March 7, the Commerce and Industry Minister also said that India’s merchandise exports have reached USD 390 billion till March 14 of the current financial year and would certainly cross USD 400 billion during the year ending March 31, 2022.

Narendra Goenka, Chairman, AEPC
Narendra Goenka, Chairman, AEPC

Apparel Export Promotion Council (AEPC) Chairman Narendra Goenka said that it was all possible due to the various government incentives to boost manufacturing across sectors and the policy of Made in India for the World.

Indian apparel exports, too, is set to witness exponential growth. The government has prepared the ground for fast growth in apparel sector with schemes like RoSCTL, PLI and PM-MITRA.

These will further increase the production, employment and export capacity of one of the largest employing sectors with maximum women workforce.

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