India’s merchandise exports set to cross $400 billion in current fiscal: Piyush Goyal

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new Delhi: Union Commerce and Industry Minister Piyush Goyal said that India’s goods exports have reached $390 billion as of March 14 of the current fiscal year. He said that it will surely cross $400 billion during the year ending March 31, 2022,

Addressing an event organized by the Automotive Component Manufacturers Association (ACMA), Goyal said that India’s auto components industry has registered a trade surplus of $600 million for the first time.

According to data released by the Ministry of Commerce and Industry on March 14, India’s goods exports for the period April-February 2021-22 stood at $374.81 billion, registering a growth of 46.09 against $256.55 billion during the period April-February 2020-21. was done. Percent.

In February 2022, exports of goods increased to $34.57 billion, registering a year-on-year growth of 25.1 percent.

Addressing the ACMA event, Goyal said that India’s automotive industry is worth over $100 billion and contributes 8 per cent to the country’s total exports and 2.3 per cent of India’s GDP. India’s auto industry is projected to become the third largest in the world by 2025. (ANI)

First published:March 18, 2022, 5:21 pm

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