For the first time, India's goods exports exceeded $447 billion in the fiscal year 2022-23, up from $422 billion in the previous year, commerce and industry minister Piyush Goyal said on Tuesday.
This would imply a 6% increase in exports year on year. On the 15th of each month, the commerce department compiles finalizes and releases the statistics.
According to
import export data issued by Commerce and Industry Minister Piyush Goyal, India's merchandise exports for the fiscal year 2022-23 were $447 billion, up from $422 billion the previous year. In mid-April, the final data for both goods and services exports will be announced.
However, Piyush Goyal predicted that service exports would exceed $320 billion this year. Notwithstanding supply chain constraints such as increased commodity costs and pandemic-related trade interruptions, he predicted that India's total exports would rise from $765 billion to $772 billion this fiscal year.
