India achieves USD 417.8 billion exports in 2021-22: Goyal

Union Commerce & Industry Minister Piyush Goyal addresses a press conference in New Delhi on April 03, 2022. Commerce Secretary B.V.R. Subrahmanyam is also seen. (Photo/PIB)

New Delhi: Union Commerce and Industry Minister Piyush Goyal on April 3, 2022, informed that merchandise exports from India have reached USD 417.8 billion in the current financial year.

Addressing a press conference here, Goyal said, “This figure excludes the figures from non-EDI Ports and it is likely to exceed $418 billion, an all-time high in India’s export history.”

He informed that India has achieved highest monthly value of merchandise export in March 2022 amounting USD 40.38 billion, an increase of 14.53% over USD 35.26 billion in March 2021 and an increase of 87.89% over USD 21.49 billion in March 2020.

“The exports have witnessed a significant growth in non-petroleum goods also in April 2021-March 2022 which was USD 352.76 billion, an increase of 32.62% over USD 266.00 billion in April 2020-March 2021 and an increase of 29.66% over USD 272.07 billion in April 2019-March 2020.”

Goyal said that India has truly gone from ‘local to global’ in response to Prime Minister Narendra Modi’s call.   

“The ‘never say die’ spirit of our exporters, the relentless effort by EPCs and Industry Association, the coordination among different GOI Departments and state governments reflecting the ‘whole of government approach’ has resulted in this stupendous achievement,” Goyal said.

Every sector of the economy, every farmer, every entrepreneur, every MSME and state governments worked together to achieve this lucrative goal, he added.

India’s diversified export portfolio in 2021-22 show India’s manufacturing abilities as well as growth in hi-tech goods, electronics and agricultural products.

According to the Minister, exports of major commodity that recorded a positive growth during April 2021-March 2022 over April-March 2020-21 are: Petroleum Products (152.1%), Cotton Yarn/Fabrics/Madeups, Handloom Products Etc. (55.1%), Other Cereals (52.2%), Gems and Jewellery (49.6%), Man-Made Yarn/Fabs/Madeups Etc.( 46.9%), Engineering Goods (45.5%), Coffee (49%), Electronic Goods (40.5%), Jute Mfg. Including Floor Covering (36.2%), Leather and Leather Manufactures (32.2%), Organic & Inorganic Chemical (32.0%), Plastic and Linoleum (31.1%), Marine Products (30.0%), Rmg Of All Textiles (29.9%), Handicrafts Excl. Hand Made Carpet (22.0%), and Cereal Preparations and Miscellaneous Processed Item (21.9%)  recorded a positive growth of, and 21.9% respectively over April 2020-March 2021.

 Goyal said that India’s merchandise exports have also seen a significant increase to different countries, especially, developed countries.

He informed that exports to USA, UAE, Bangladesh, Netherlands, Singapore, Hong Kong, UK, Belgium and Germany grew by 46.4%, 66.9%, 64.5%, 90.5%, 26.8%, 7.8%, 28%, 90.4% and 21.1% respectively over April 2020- March 2021. (Press Release)

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