Amidst the challenges of Korena, another achievement has been added to the name of the Modi government. India’s exports of goods reached a record level of $ 418 billion in the financial year 2021-22. All this has been made possible by the better performance of petroleum products, engineering goods, gems & jewelery and chemicals sectors.
Imports also at an all-time high of $ 610 billion
Commerce and Industry Minister Piyush Goyal gave this information while releasing the trade figures for the financial year 2021-22 on Sunday. According to these figures, the country exported 40 billion dollars in March 2022, which is the highest level of exports in a month. Earlier, in March 2021, the export figure was $ 34 billion.
According to the data, India’s commodity trade (export and import) crossed $1 trillion during 2021-22 as the country’s imports also reached an all-time high of $610 billion.
India exported the most to America
According to official data, India exported $292 billion in the financial year 2020-21. In the year 2021-22, the export figure has reached $ 418 billion with a big jump. On March 23, the country had crossed the export figure of $ 400 billion. Goyal told reporters that in this fiscal, India exported the most to the US, followed by the United Arab Emirates (UAE), China, Bangladesh and the Netherlands.
He said, “The export of goods from India reached $ 417.8 billion in the current financial year. This figure does not include exports from non-EDI ports and adding that the full figure of exports is expected to cross $ 418 billion. Hopefully. This is an all-time high in India’s export history.”
Goyal said that the efforts of exporters and industry associations, coordination between various departments and efforts of the state governments have contributed to this achievement. Petroleum, cotton yarn and fabrics, handlooms, gems and jewellery, engineering products, electronic products, leather, chemicals, plastics and marine products have contributed significantly to this positive growth recorded in exports during April 2021- March 2022.
Goyal said that there has been a significant increase in exports especially to the developed countries. “India’s commodity export performance has been very good despite the challenges posed during several waves of the COVID pandemic. Exports in all 12 months of this fiscal have been over $30 billion,” he said. Exports of agricultural products stood at $48 billion in the period under review.