India's merchandise exports surpassed the $400 billion landmark in the current financial year ending March 31, 2022, nine days ahead of the target, Prime Minister Narendra Modi said on Wednesday.
"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," Modi said in a tweet. "This is a key milestone in our Aatmanirbhar Bharat journey. #LocalGoesGlobal"," the prime minister said.
India's merchandise exports had touched $298.1 billion in the financial year 2020-21. The government had then set a challenging target of $400 billion of goods exports for the current financial year.
According to the infographics shared by the Prime Minister, on average, every hour $46 million worth of goods are exported from India. The average for a day is $1 billion, while the average for a month stands at $33 billion.
Reacting to the achievement, Commerce and Industry Minister Piyush Goyal said, "We have scaled the $400 billion goods exports mountain. Every hour, day & month leading to this monumental achievement has been exhilarating."
"New India under the leadership of PM @narendramodi Ji is known for scripting history. Extremely proud that India has achieved its highest ever goods exports target of $400 billion. This reflects the boost in the Indian economy post-Covid due to PM Modi's resolve of AatmaNirbhar Bharat," Union Home Minister Amit Shah said in a tweet.
Engineering Exports Promotion Council (EEPC) India Chairman Mahesh Desai said, "The various measures taken by the government not only ensured recovery but also sustained growth month after month. The top priority accorded to the sector by the Prime Minister made sure that all the stakeholders moved in unison to chase the $400 billion goods exports target for 2021-22."
"As we enter into the new financial year in a few days from now, the engineering goods sector will aim high and achieve the goal despite several challenges, especially geo-political tensions arising out of the Russia-Ukraine conflict," he added.
