Piyush Goyal Vows To Maintain Last Year's Export Figures

New Delhi, Jan 4 (KNN) Commerce and Industry Minister Piyush Goyal, on Wednesday, expressed confidence that despite the global trade slowdown, the country would uphold the export figures from the previous fiscal year.

He highlighted that India's exports of goods and services increased from USD 500 billion two years ago to USD 776 billion in 2022-23, reported ET.

“Amidst a global economic downturn with negative growth and international trade experiencing a decline, there are estimates suggesting a potential fall in international trade this year,” Goyal stated.

He mentioned “Despite having witnessed rapid growth, there is a current focus on consolidation. In this context, it is anticipated that the country will maintain the export figures from the previous year.”

The minister further added “The aim is not only to sustain but also to enhance processes, capacities, and capabilities, facilitating accelerated growth in the current year.”

In the cumulative data for April-November 2023-24, the country's merchandise exports contracted by 6.5 per cent, totalling USD 278.8 billion.

Additionally, the estimated value of service exports for the eight-month period amounted to USD 220.7 billion.

(KNN Bureau)