Achieved this target 9 days before the deadline
After the crisis of Corona era, the ongoing war between Russia-Ukraine has made the situation around the world serious. Governments around the world are engaged in saving their economy. Meanwhile, the Modi government has achieved a big achievement. India has achieved the target of exporting goods of 400 billion dollars for the first time.
On the other hand, Ajay Sahai, Director General of FIEO, Federation of Indian Export Organizations, said that it is a remarkable achievement for the country, saying that the exporters have increased exports by $ 110 billion in a year, despite all the logistic challenges.
According to the information, the government has achieved this target 9 days before its scheduled deadline. According to statistics, India exported goods worth one billion dollars every day, that is, about $ 46 million worth of goods were sent to other countries every day. If we talk about the month, then it sits on an average of $ 33 billion per month. According to February data released by the Union Ministry of Commerce and Industry earlier this month, apart from 88.14% growth in petroleum exports, outbound shipments in February were led by strong performance from electronic goods, engineering goods, cotton yarn and chemicals . Which increased by 34.54%, 32.04%, 33.01%, 25.38% and 18.02% respectively.
However, despite the increase in exports, the rising prices of crude oil and other commodities due to the ongoing war between Russia and Ukraine has raised the concerns of the business world. Among several initiatives to transform the country into a manufacturing hub and create a significant presence in the global supply chain, the government has come up with Production Linked Incentive (PLI) schemes across sectors including automobiles and auto components, textiles and electronics.