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India's exports sector registers robust growth despite geopolitical uncertainties

Graph.webp

Indian exports sector going strong

The Indian exports sector continued with its robust growth touching over $40 billion in April, notwithstanding the geopolitical uncertainties.

The outstanding accomplishments of the exporters have consistently not only helped the economy to reap rich dividends but will also support our endeavour to become a $5 trillion economy by 2025, A Sakthivel, president, Federation of Indian Export Organisations (FIEO) said in a statement.

However, he also noted that there is a need to rationalise outbound shipment of raw materials to push value added exports, augment container manufacturing and develope an Indian shipping line of global repute to sustain the growth.

Sakthivel added that the benefits of the newly signed free trade agreements and the Production Linked Incentive Scheme will further help India in building on the milestones achieved during the previous fiscal.

Also read: India's wheat exports soar amid Russia-Ukraine conflict

Petroleum products, engineering goods, electronic items, organic and inorganic Chemicals, readymade garments, drugs and pharmaceuticals, gems and jewellery topped the exports chart for the month of April.

Meanwhile, Prahlad Joshi, Union Minister of Parliamentary Affairs, Coal and Mines said that exports play a crucial role in realizing Atmanirbhar Bharat said while addressing the outreach Programme on India-UAE CEPA and India-Australia ECTA organized by Department of Commerce in Bengaluru.

Joshi, who was the chief guest at the event also highlighted the various initiatives and reforms being undertaken by Centre to improve the ease of doing business.